This corresponds to an improvement of €686 million compared to the voted budget, which estimated a deficit of €815 million. This positive development is due to an increase in tax revenue. In 2019, revenue was almost 5% higher than estimated in the budget.
On the expenditure side, the numbers are closer to the voted budget, with a difference of only 0.71%.
In accordance with the European accounting standard, the Central Administration has a surplus balance of 60 million euros. Compared to the voted budget, the difference is €710 million. The trend is therefore confirmed.
For Minister of Finance Pierre Gramegna, the state accounts were close to being balanced and the budgetary situation was healthy at the beginning of 2020, which enabled the government to react quickly to the health crisis.
The draft budget for 2021 will be presented in three weeks' time. It is expected to be a stimulus package.
