Hellenic Statistical Authority – Deficit and debt soared in 2020

According to the Hellenic Statistical Aythority data, both the budget deficit and the public debt sored in 2020.

In particular, the General Government deficit for the year 2020, according to ESA 2010, is estimated at -16.7 billion euros (-10.1% of the Gross Domestic Product), while the gross consolidated debt of the General Government in nominal prices at the end of 2020 is estimated at 341 billion euros (206.3% on the Gross Domestic Product).

At the same time, Greek GDP “fell” to 165.326 billion euros at the end of 2020, from 183.250 billion euros in 2019.

For the year 2019, the support of financial institutions had a positive effect on the General Government balance, according to the Hellenic Statistical Auithority.

This is because the accrued fees arising from the interbank lending guarantees and the bond lending system, as well as the income from the banks’ preferred shares, were higher than the accrued expenses. In contrast, in 2017, 2018 and 2020, the cost of support was higher than the relevant revenue.