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Ministry of Finance, Statistical Service



27/11/2020
Latest Figures: Quarterly Accounts of General Government, 3rd Quarter 2020

On the basis of the preliminary data on the General Government accounts for July-September 2020, which are compiled in accordance to EU concepts and definitions (ESA 2010), total revenue amounted to €2.216,0 mn, while total expenditure reached €2.288,4 mn, resulting in a deficit of €72,4 mn as compared to a surplus of €382,1 mn in the third quarter of the previous year.

The main categories of revenue for July-September 2020 were taxes on production and imports €819,7 mn (-9,8% compared to the third quarter of 2019), of which net VAT was €544,9 mn (-5,3%), taxes on income and wealth €544,6 mn (-23,5%) and social contributions €578,7 mn (-2,5%). Revenue from the sale of goods and services amounted to €178,9 mn registering an increase of 0,1% as compared to the corresponding period of 2019.

The main categories of expenditure for July-September 2020 were social transfers €627,0 mn (-1,2% compared to the corresponding period of 2019) and compensation of employees (including imputed social contributions and pensions of civil servants) €665,7 mn (+3,7%). The capital account recorded an expenditure of €155,8 mn (€126,0 mn capital investments and €29,8 mn capital transfers) as compared to €151,7 mn during the corresponding quarter of 2019 (€131,2 mn capital investments and €20,5 mn capital transfers) registering an increase of 2,7%. Intermediate consumption reached €394,7 mn (+23,0% compared to the corresponding period of the previous year). Subsidies increased by €164,5 mn and amounted to €174,7 mn, compared to €10,2 mn in the corresponding quarter of 2019.

The increase in expenditure and the decrease in revenue for July-September 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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