The Slovenia Times

General government deficit and debt drop in 2023 as share of GDP

Euro bank notes. Photo: dpa/STA

Slovenia's general government deficit amounted to €1.587 billion or 2.5% of GDP last year and gross debt to €43.670 billion or 69.2% of GDP, according to the Statistical Office. Both figures are down on the year before as a share of GDP, although debt increased in nominal terms.

General government deficit was reduced by €114 million nominally or by 0.5 percentage points as a share of GDP compared with 2022.

In 2023, only the central government, meaning the state budget, generated a deficit, at €1.676 billion.

Local government or municipalities recorded a surplus of €68 million, and the public pension and health insurance funds a combined surplus of €21 million.

General government revenue increased by 10.6% to €27.877 billion. Tax revenue was up by 8.8% and revenue from social security contributions by 9.3%.

Expenditure increased by 9.5% to €29.465 billion, with intermediate consumption increasing by 10.2%, and labour costs by 10.9%.

The gross debt of the government sector at the end of 2023 amounted to €43.67 billion or 69.2% of GDP. Compared with the year before, it rose nominally by €2.332 billion, but decreased by 3.3 percentage points relative to GDP.

The gross debt of the central government amounted to €42.775 billion, or 67.8% of GDP, and local government debt totalled €1.117 billion or 1.8% of GDP.

In the last quarter of 2023, general government deficit amounted to €429 million, or 2.6% of GDP.

General government revenue grew for the 12th quarter in a row, by 14.3%, and expenditure increased by 10.7% year-on-year.


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