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Government expenditure in the euro area during the pandemic crisis – insights from the Classification of the Functions of Government data

Author

Listed:
  • Rodríguez-Vives, Marta
  • Olsson, Hans

Abstract

On 22 February 2023 Eurostat released data on government expenditure for the year 2021 according to the Classification of the Functions of Government (COFOG). These data provide information on the functional composition of government spending in countries across the euro area. The ratio of euro area public expenditure to GDP has increased substantially over recent years, from 46.9% in 2019 to 52.6% in 2021. This increase in spending was primarily in the categories of economic affairs, social protection and health, and reflects the introduction of government measures to mitigate the effects of the COVID-19 pandemic on the economy. JEL Classification: E62, H11, H20, H23, H50

Suggested Citation

  • Rodríguez-Vives, Marta & Olsson, Hans, 2023. "Government expenditure in the euro area during the pandemic crisis – insights from the Classification of the Functions of Government data," Economic Bulletin Boxes, European Central Bank, vol. 3.
    • Handle: RePEc:ecb:ecbbox:2023:0003:7
    Note: 1649295
    as

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    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2023/html/ecb.ebbox202303_07~ca65de8ae5.en.html
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    More about this item

    Keywords

    COFOG data; COVID-19 crisis; fiscal policies; public expenditure;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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