Second notification – September 2022

Excessive Deficit Procedure

According to EU regulations, Statistics Portugal will send to Eurostat, until the end of the current month, the second notification of 2022 regarding the Excessive Deficit Procedure (EDP) of 2021.

The estimate of net borrowing of the Regional Government of Madeira (RGM) for 2021 stood at 214.4 million euros, 12.2 million below the figure reported in this year's 1st notification, which was preliminary in nature.

In 2021, the accounts of the RGM were again heavily constrained by the COVID-19 pandemic, which this year, had an estimated impact of 268 million euros, associated with measures of prevention, containment, mitigation and recovery in the context of the pandemic. Excluding this value, the balance of Madeira's APR accounts would be positive, at around 53.6 million euros.

The Regional Gross Debt stood at 5,077.1 million euros at the end of 2021, having decreased by 35.0 million euros (-0.7%) compared to 2020.

In the country, the net borrowing of the General Government (GG) in 2021 reached 6.2 billion euros, corresponding to 2.9% of the Portuguese Gross Domestic Product (GDP). In turn, in that year, the gross debt of the GG rose to 269.2 billion euros, representing 125.5% of the GDP. In the Autonomous Region of the Azores, the Regional Government balance showed a deficit of 383.6 million euros and the gross debt of the Regional Government of the Azores was 2,683.0 million euros in 2021.

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