Press Release 26/06/2023

PUBLIC SECTOR BUDGETARY STATISTICS 2021

In 2021 tax revenues for the Basque Administrations registered an increase of 13.2%

As of 31 December 2021, long-term debt with financial entities accounted for 17.2% of GDP, 4 percentage points less than in 2020

The total tax revenue of the Basque Administrations (made up of the Basque Government, the Provincial Councils and Municipal Administrations, together with their corresponding Autonomous Bodies and supra and infra-municipal Entities) rose to 16,732 million euros in 2021, up 13.2% according to Eustat data.

This increased tax revenue had a positive effect on the total income for non-financial operations, which experienced growth of 16.7%, standing at 19,785 million euros. In this context, total consolidated income also recorded positive evolution, rising to 21,706 million euros, with a 10.3% increase compared to the previous year, despite the 29.3% decrease in financial income. Expenditure amounted to 19,787 million, increasing by 5.6% compared to 2020.

Focusing on non-financial operations, both income and expenditure showed positive evolution compared to 2020, with a 16.7% rise in income and increased expenditure of 5.6%. This result was reflected in the Non-financial budgetary balance which was +1,344 million euros in 2021, compared to -508 million euros in 2020.

Non-financial income increased by 16.7%, caused both by the 14.8% increase in current income which accounted for 77.1% of total income, and the significant increase of 199.7% in capital operations income.

With regard to the analysis of financial operations, different trends were observed for income and expenditure, since while financial income reached 1,921 million euros, 29.3% less than the previous year, financial expenditure increased to 1,346 million euros, up 4.8% on 2020.

2021 posted positive performance in data on tax revenue. Thus, this item, which represented 86.9% of total income, showed an overall rate of increase of 13.2%. The biggest increases were in: Special taxes (13.4%), Other taxes (19.9%), mainly VAT (20.0%), which not only showed the greatest increase, but also contributed the most to the total taxes, representing 37.4%. Income tax, contributing 36.8% of the total, increased by 8.2%, Corporate tax, representing 7.0%, grew by 9.6% and Municipal taxes increased by 2.0%, although they only accounted for 4.7% of the total.

Source: Eustat. Public sector budgetary statistics

Period availables 20202021

Other Current Income, which includes taxes, transfers and equity income, accounted for 13.1% of total income from current operations and registered a 27.1% rise.

Current expenditure was up 4.5%. This increase was primarily caused by Other current expenditure, which represented 33.3% of total expenditure and recorded 6.0% growth compared to 2020. Staff expenditure appears immediately afterwards, contributing 21.3%, an 3.9% increase. In turn, Current transfers grew by 3.2%.

Expenditure on Investments and Capital Transfers, representing 9.2% of the total, posted a rise of 17.1% in respect of the previous year.

By institution, the Basque Government registered a positive non-financial budgetary balance of 778 million. Among the Provincial Administrations (Provincial Councils and Local Entities), all provinces had positive balances. Gipuzkoa stands out, with a balance of 219 million, followed by Bizkaia with 204 million and finally Álava with 142 million in positive balance.

The outstanding debt (unpaid debt owed by the institutions, arising from long-term loans with financial institutions) reached 13,437 million euros as of 31 December 2021, 17.2% of GDP, a decrease of four percentage points with regard to 2020. The new liabilities acquired in 2021 increased to 1,850.9 million, while depreciations amounted to 1,001 million.

The total outstanding debt of the Basque Government at the end of 2021 accounted for 78.8% of total outstanding debt, followed by Bizkaia (13.2%), Álava (4.8%) and lastly Gipuzkoa with the remaining 3.2%.

For further information:

Eustat - Euskal Estatistika Erakundea / Basque Statistics Institute C/ Donostia-San Sebastián, 1 01010 Vitoria-Gasteiz Press Service: servicioprensa@eustat.es Tel.: 945 01 75 62