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General government deficit at 8.4% of GDP last year

Ljubljana, 31 March (STA) - Slovenia's general government deficit in 2020 amounted to EUR 3.87 billion or 8.4% of GDP, while the gross general government debt stood at EUR 37.43 billion or 80.8% of GDP, the Statistics Office reported on Wednesday.

The EUR 3.87 billion deficit last year represents a EUR 4.07 billion change compared to 2019, when a surplus was recorded.

The central government sub-sector generated a deficit of EUR 3.96 billion and the other two sectors - local government and social security funds - generated surpluses of EUR 83 million and EUR 8 million, respectively.

Total revenue of the general government sector was down by 4.6% compared to 2019, mainly due to lower tax revenue. Taxes on production and imports decreased by 9.8%, and current taxes on income and property by 9.4%.

Total expenditure meanwhile increased by 14.8%, the main reason being expenditure related to the measures to mitigate the consequences of the coronavirus epidemic.

Subsidies rose by over 400%, while social benefits in cash were up by 10.3%.

At the end of 2020, the gross debt of the general government sector amounted to EUR 37.43 billion or 80.8% of GDP. Year-on-year, it increased by EUR 5.68 billion or 15.2 percentage points of GDP.

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