In January 2021, the State Sector working balance has provisionally closed with a borrowing requirement of 3,900 million euros, with a worsening of about 6,900 million euros compared to the surplus recorded in the same month of the previous year (+3,000 million euros). The final value of the State Sector working balance at December 2020 is available on the website of the State General Accounting Department.
Comment
In comparison with the same month of 2020, the working balance was largely affected by the contraction in fiscal revenues, due in part to cyclical effects, and higher payments by General Government and the Italian Social Security Institute (INPS) for benefits provided for in legislative provisions to contain the Covid-19 epidemic emergency.
Interest expenditure on Government bonds have increased of about 320 million euros compared to last year.