Quarterly non-financial sector accounts - Q4 2022

The Quarterly non-financial General Government (GG) account and the other figures presented in this press release are desumed from the Quarterly non-financial sector accounts. Data on Households and Non-financial corporations are commented in seasonally adjusted form, data on the GG are unadjusted.

In the fourth quarter of 2022 the GG deficit (net borrowing) to GDP ratio was -5.6% against -4.9% in the same quarter of 2021.

The primary balance of the GG was negative with a GDP ratio at -0.7% (-1.2 in the fourth quarter of 2021).

The current balance of the GG was positive, its ratio to GDP standing at 1.3% (3.2% in the same quarter of 2021).

The tax burden ratio stood at 50.5% of GDP, 1 percentage point lower than the same quarter of 2021.

Gross disposable income of Consumer households increased by 0.8% with respect to the previous quarter, while final consumption expenditure grew by 3%. The saving rate of Consumer Households was 5.3%, 2 percentage points lower than in the previous quarter.

Gross disposalble income of Consumer households in real terms decreased by 3.7% with respect to the third quarter of 2022.

The profit share of Non-financial corporations was 44.8%, 1.9 percentage points higher than in the previous quarter.

The investment rate of Non-financial corporations was 24.4%, 0.4 percentage points lower than in the previous quarter.