Gross domestic product rose by 1.6 per cent in 2022

Gross domestic product for 2021 was revised to 2.8 per cent

In 2021, the volume of GDP grew by 2.8 per cent (3.2 per cent in the previous release). The revision was mainly caused by an increase in intermediate consumption and changes in product structures. The data released for 2021 are now final and are based on the balanced supply and use tables. The supply, use and input-output tables for 2021 were published on 18 December 2023.

Financial position of local government in deficit in 2022

The financial position of local government (municipalities and joint municipal authorities, etc.) showed a deficit of EUR 409 million in 2022. However, the deficit decreased from 2021. In 2021, the deficit in the financial position of municipalities was EUR 864 million.

The industry distribution of 2020 was partly used in the compilation of local government industry-specific data for 2021 and 2022. This was due to a revision made in the data collection of municipalities and joint municipal authorities in 2021, which weakened the comparability of industry-specific data with earlier years.

Financial position of central government showed a deficit of EUR 4.2 billion in 2022

The deficit of the financial position of central government decreased to EUR 4.2 billion in 2022 from EUR 8.3 billion in 2021.

The deficit for 2022 was revised to EUR 55 million lower than in the figures published in September.

European revision policy

Starting from 2019, the preliminary annual release dates of national accounts have been scheduled for March, June, September and December in accordance with the recommendations of the harmonised European revision policy. Preliminary annual data are thus updated in every quarter and they are coherent with the quarterly national accounts and balance of payments data, at a lag of around 80 days from the quarter. Quarterly national accounts (QNA) are first published at a lag of 60 days and benchmarked to other data at a lag of 80 days.