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Ministry of Finance, Statistical Service

Latest Figures: Quarterly Accounts of General Government, 2nd Quarter 2020

On the basis of the preliminary data on the General Government accounts for April-June 2020, which are compiled in accordance to EU concepts and definitions (ESA 2010), total revenue amounted to €1.585,7 mn, while total expenditure reached €2.386,0 mn, resulting in a deficit of €800,3 mn as compared to a surplus of €140,4 mn in the second quarter of the previous year.

The main categories of revenue for April-June 2020 were taxes on production and imports €631,3 mn (-27,1% compared to the second quarter of 2019), of which net VAT was €446,2 mn (-20,5%), taxes on income and wealth €261,4 mn (-20,2%) and social contributions €484,5 mn (-19,0%). Revenue from the sale of goods and services limited to €131,8 mn registering a decrease of 22,1% as compared to the corresponding period of 2019.

The main categories of expenditure for April-June 2020 were social transfers €761,2 mn (+3,7% compared to the corresponding period of 2019) and compensation of employees (including imputed social contributions and pensions of civil servants) €641,1 mn (+3,3%). The capital account recorded an expenditure of €87,6 mn (€74,1 mn investments and €13,5 mn capital transfers) as compared to €107,3 mn during the corresponding quarter of 2019 (€95,7 mn investments and €11,6 mn capital transfers) registering a decrease of 18,4%. Intermediate consumption reached €331,0 mn (+40,6% compared to the corresponding period of the previous year). Subsidies increased by €284,6 mn and amounted to €296,6 mn, compared to €12,0 mn in the corresponding quarter of 2019.

The increase in expenditure and the decrease in revenue for April-June 2020 are mainly due to the measures taken to support enterprises and the suspension of various sectors of the economy, respectively, as a result of the Covid-19 pandemic.

Increased amounts in specific categories of revenue and expenditure are partly attributed to the implementation of the second stage of the National Health System as of 01.06.2020.



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