The deficit reaches 268 million euros while the debt rises to 8 billion euros

A deficit of 267.6 million euros was recorded by the government in the third quarter of 2021, the National Statistics Office announced on Thursday.

During the same period, the debt amounted to 7,989.3 million euros, or 57.2% of gross domestic product.

The ONS said in a statement that between July and September, total revenues amounted to €1,313.6 million, an increase of €65.6 million compared to the corresponding quarter in 2020.

Almost all components of general government revenue recorded an increase, with taxes on production and imports registering an increase of 40 million euros.

But net social security contributions receivable recorded a drop of €16.7 million, while current taxes on income and assets fell by €6.4 million.

Total expenses for the third quarter of 2021 amounted to €1,581.1 million, an increase of €122.5 million.

The largest increase was recorded in current transfers payable (€72.6 million), followed by intermediate consumption (€62.1 million) and compensation of employees (€29.2 million). ).

The increases were partially offset by the decrease in subsidies payable (48.6 million euros), mainly due to lower public expenditure under the COVID-19 business assistance program, and training gross of capital (18.5 million euros).

Adjustments to consolidated fund data were made to comply with the provisions of the ESA 2010. These led to an increase of €178.9 million in the consolidated fund deficit.

Long-term loans and equity and investment fund shares increased by €20.2 million and €4.2 million respectively. Long-term debt securities increased by 0.1 million euros.

On the other hand, cash and deposits recorded a decrease of 188.1 million euros, while other debtors decreased by 161.7 million euros.

Debt

At the end of September, the public debt amounted to 7,989.3 million euros, or 57.2% of gross domestic product. This equates to an increase of €1,137.7 million compared to the corresponding quarter of 2020, largely reflected in central government debt, which amounted to €7,986.4 million.

Cash and deposits amounted to 469 million euros, a decrease of 3.5 million euros compared to September 2020.

Long-term debt securities and long-term loans increased by €714.6 million and €431.5 million respectively. Short-term loans recorded an increase of 4.7 million euros while short-term debt securities decreased by 9.5 million euros. The debt of local authorities amounts to 2.9 million euros.

Debt guaranteed by general government amounted to 1,202.3 million euros at the end of September 2021, or 8.6% of GDP, an increase of 98.5 million euros compared to the third quarter of 2020.

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