Main Aggregates of the General Government, Slovenia, 4th quarter 2020

General government in the fourth quarter of 2020 with a deficit

General government generated a deficit of EUR 1,101 million (9.2% of GDP) in the fourth quarter of 2020. Consolidated general government gross debt at the end of the fourth quarter of 2020 amounted to EUR 37,429 million or 80.8% of GDP.

  • 31 March 2021 at 10:30
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General government generated a deficit in the fourth quarter

In the fourth quarter of 2020, general government generated a deficit of EUR 1,101 million (9.2% of GDP) because of the measures taken by the state to lessen the effects of the COVID-19 epidemic (so-called indirect effects of the epidemic). On the one hand, the deficit was caused by a 16.6% increase in expenditures and, on the other hand, by a 4.9% decrease in total revenue of general government.

Tax revenue fell by 11.9%

Total general government revenue in the fourth quarter of 2020 amounted to EUR 5,303 million. Compared to the same quarter of the previous year, it decreased by EUR 274 million or 4.9%. The main reason for the drop was once again a decrease in the tax revenue, which was lower by EUR 329 million or 11.9%. Of this, the taxes on production and imports decreased the most; they fell by EUR 207 million or 11.7% compared to the same quarter of 2019.

The general government deficit was somewhat lessened by an increase in revenues from social contributions, which went up by EUR 68 million or 3.3% compared to the fourth quarter of 2019.

Expenditure grew by 16.6% compared to the fourth quarter of 2019

In the fourth quarter of 2020, the total general government expenditure amounted to EUR 6,404 million, which was EUR 910 million or 16.6% more than in the same quarter of the previous year. The expenditure for subsidies increased the most (by EUR 443 million).

The expenditure on other current transfers increased by EUR 206 million or 89.7%, mostly because of the measures taken by the state to lessen the effects of the epidemic. The expenditure on social benefits increased by EUR 144 million or 6.8% compared to the same quarter of the previous year. Gross fixed capital formation decreased by EUR 9 million or 1.7%. Due to the continuous favourable trend of interest rates on financial markets, interest expenditures kept decreasing and were by EUR 23 million or 11% lower than in the fourth quarter of 2019. Expenditure on compensation of employees increased by EUR 84 million or 6%.

Consolidated general government gross debt at the end of the fourth quarter of 2020 at 80.8% of GDP

At the end of the fourth quarter of 2020, consolidated general government gross debt amounted to EUR 37,429 million or 80.8% of GDP. Compared to the end of the third quarter of 2020, it increased by EUR 717 million. Debt in long-term securities increased the most.

At the end of the fourth quarter of 2020, general government debt at the central level was estimated at EUR 36,766 million or 79.4% of GDP and at the local level at EUR 889 million or 1.9% of GDP. Social security fund debt amounted to EUR 0.1 million at the end of the fourth quarter of 2020.


Data on main aggregates of the general government are also published in SiStat database.



Main aggregates of quarterly non-financial accounts for general government, Slovenia
20192020
X-XIII-IIIIV-VIVII-IXX-XII
mio. EUR
S.13 General government
  Total revenue5,5774,7714,8935,2285,303
  Total expenditure5,4955,5226,5265,6106,404
  of which: interest expenditure209189195186186
Net lending (+), net borrowing (-)82-752-1,633-382-1,101
Consolidated gross debt1)31,74433,38636,88536,71237,429
  S.1311 Central government31,12332,74436,25436,08836,766
  S.1313 Local government857866849838889
  S.1314 Social security funds004500
  Intra subsector consolidation (-)-236-223-263-215-227
1) Some totals and calculations do not add up due to rounding.
Source: SURS
Main aggregates of quarterly non-financial accounts for general government, Slovenia
20192020
X-XIII-IIIIV-VIVII-IXX-XII
% of GDP
S.13 General government
  Total revenue44.842.344.843.044.4
  Total expenditure44.148.959.846.153.7
  of which: interest expenditure1.71.71.81.51.6
Net lending (+), net borrowing (-)1)0.7-6.7-15.0-3.1-9.2
Consolidated gross debt1)65.668.978.278.480.8
  S.1311 Central government64.367.676.977.179.4
  S.1313 Local government1.81.81.81.81.9
  S.1314 Social security funds0.00.00.10.00.0
  Intra subsector consolidation (-)-0.5-0.5-0.6-0.5-0.5
1) Some totals and calculations do not add up due to rounding.
Source: SURS
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