A deficit of €267.6 million was recorded by the government in the third quarter of 2021, the National Statistics Office said on Thursday.
During the same period, debt rose to €7,989.3 million, or 57.2% of the gross domestic product.
The NSO said in a statement that between July and September, total revenue stood at €1,313.6 million, an increase of €65.6 million when compared to the corresponding quarter in 2020.
Almost all components of general government revenue recorded an increase, with taxes on production and imports registering an increase of €40 million.
But net social contributions receivable registered a decrease of €16.7 million, while current taxes on income and wealth fell by €6.4 million.
Total expenditure in the third quarter of 2021 amounted to €1,581.1 million, an increase of €122.5 million.
The largest increase was recorded in current transfers payable (€72.6 million), followed by intermediate consumption (€62.1 million), and compensation of employees (€29.2 million).
The increases were partially offset by decreases in subsidies payable (€48.6 million), mostly owing to lower government outlay on the COVID-19 Business Assistance Programme, and gross capital formation (€18.5 million).
Adjustments to the consolidated fund data were made o achieve compliance with the provisions of ESA 2010. These brought about an increase of €178.9 million to the consolidated fund deficit.
Long-term loans and equity and investment fund shares registered an increase of €20.2 million and €4.2 million, respectively. Long-term debt securities rose by €0.1 million.
On the other hand, currency and deposits recorded a decrease of €188.1 million, while other accounts receivable declined by €161.7 million.
Debt
At the end of September, general government debt stood at €7,989.3 million, or 57.2% of gross domestic product. This equates to an increase of €1,137.7 million over the corresponding quarter in 2020, largely reflected in central government debt, which amounted to €7,986.4 million.
Currency and deposits stood at €469 million, a decrease of €3.5 million over September of 2020.
Long-term debt securities and long-term loans increased by €714.6 million and €431.5 million, respectively. Short-term loans registered an increase of €4.7 million, while short-term debt securities declined by €9.5 million. Local Government debt stood at €2.9 million.
General government-guaranteed debt amounted to €1,202.3 million at the end of September 2021, equivalent to 8.6% of GDP, an increase of €98.5 million when compared to the third quarter of 2020.