Main aggregates of General Government
Main Aggregates of General Government
22 September 2023
In 2022, the General Government (GG) sector presented a net borrowing of 779 million euro in 2022, corresponding to -0.3% of GDP (-2.9% in 2021 and -5.8% in 2020).
General government total revenue increased by 10.1% in 2022 (+9.8 billion euro) and the current revenue increased by 11.6% (approximately, +10.9 billion euro). The three main current revenue components increased at different paces, with the most significant rise belonging to current taxes on income and wealth (+23.7%).
Total expenditure increased by 4.2% between 2021 and 2022 (+4.3 billion euro), with capital expenditure increasing by 10.8%, clearly above the increase in current expenditure (3.7%). The increase in current expenditure was mainly due to the 7.2% growth in social benefits, other than social transfers in kind and, to a lower extent, to the 3.1% growth in the compensation of employees. In the opposite direction, there was a reduction of nearly 37% in the subsidies paid and of 10.1% in interest payments. Capital expenditure grew in 2022 due to increases in capital transfers paid (26.3%) and, to a lesser extent, in gross capital formation (3.1%).
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