Public debt in 2014 higher than the set by the government – TVI24

Public debt in 2014 higher than the set by the government – TVI24

The Board of Public Finance estimates that public debt in 2014 was higher than the 127.2% set by the Government and that despite the improvement recorded in November, the reduction in December was “insufficient” to meet the annual goal.

The report on economic and budgetary developments until the third quarter and outlook for 2014, the CFP states that “the public debt ratio is projected to end the year above the estimate of MF [Ministry of Finance] ‘, highlighting that compliance the target set for last year ‘means a reduction of 4.2 percentage points of GDP [gross domestic product] in the last quarter “, ie € 5.1 billion.

However, adds the institution led by Teodora Cardoso, “despite the fall recorded in November, the available information points to a reduction in insufficient December to achieve that result.”

So, economists estimate that the CFP, in late 2014, “the government debt ratio has stayed above the target of 127.2% of GDP” a detour that will also depend on the level of GDP rated for the full year, the CFP esteem ‘stay below forecast “the Ministry of Finance.

The public debt in the view of Maastricht, which account for Brussels, rose to 131.4% of GDP until September, an increase of 1.9 percentage points (or 4,231 million) compared to previous quarter but down below 131.6% of GDP recorded in the first quarter.

The CFP states that the central government was the ‘decisive’ for this subsector performance of public debt, it recorded an increase of 4,444 million euros, of which 600 million relates to an increase of deposits .

Excluding deposits of central government, public debt in the view of Maastricht increased from 3.6 billion euros in the first nine months of the year, to 206,600 million, equivalent to 118.9 % of GDP.

The CFP also points out that the increase in debt in the third quarter was due “mainly to the unfavorable impact of operations that do not affect the deficit,” adding that the general government deficit ‘was responsible only for about a fifth of the increase in public debt recorded in that period. ”