In April 2021, the State Sector working balance is provisionally estimated at Euro 12,500 million, with a decrease by about Euro 5,500 million in comparison to the corresponding month of 2020 (Euro 17,958 million). In the first four-months of the current year, the working balance is estimated at Euro 53,650 million, with an increase by about Euro 4,800 million with respect to the corresponding period of 2020. The updated estimate of the State Sector working balance in March 2021 is available on the State General Accounting Department website.
In comparison with the previous year, the March 2021 State working balance benefited from the increase in fiscal revenues that last year had been affected by the suspension of tax payments due to the Covid-19 health emergency.
This improvement has been partially offset by the increase in expenditure, mainly related to disbursement by the Revenue Agency and the Civil Protection in the context of the policy measures to contain the consequences of the pandemic.
Interest expenditure on Government bonds have decreased by about Euro 140 million.