The October revision of general government data influenced the deficit in 2014 and 2015. The revision of annual data affected also the data in the first two quarters of 2016. General government debt remains unchanged. According to the latest estimate by the Ministry of Finance, the government deficit in 2016 will amount to EUR 878 million or 2.2% of GDP and government consolidated gross debt to EUR 32,068 million or 80.2% of GDP.
According to the latest estimate, government deficit in 2015 amounted to EUR 1,031 million or 2.7% of GDP, which is EUR 87 million or 0.2 p.p. less than published at the end of September. The change in the deficit for 2014 was lower. Government deficit decreased by EUR 4 million and according to the latest estimate amounted to EUR 1,880 million or 5.0% of GDP.
The revision had a positive impact also on 2016 data. In the first quarter of 2016 government deficit decreased by EUR 33 million to EUR 318 million and in the second quarter of 2016 government surplus increased by EUR 3 million to EUR 55 million. The revision decreased government expenditure on capital transfers.
In line with the revision all relevant annual and quarterly government and non-financial accounts data were aligned.