The total debt of third parties to social security amounted to 13.3 billion euros in 2021, with provisions amounting to 8325.4 million euros, equivalent to 62.43% of this amount, according to the state account for the year 2021 (CGE).
According to the document delivered today to Parliament, Social Security is required to collect 13,336.1 million euros of short, medium and long-term debt.
In third-party debt, taxpayers and other debtors account for 89.37% and 5.56%, respectively, of the total amount of short, medium and long-term third-party debt, respectively.
The Group of Governmental Experts also notes that within net current assets, “despite the 7.5% decrease in medium and long-term debt, there was a slight increase in debt with shorter maturities,” an increase of 3.01% over the previous year, mainly due to debt clients. Non-existent, social benefits to be replaced by the taxpayer.
“The social security balance sheet, in particular its net assets, more adequately expresses, at the end of 2021, the balances in cash and cash equivalents (€31,166 million) and short, medium and long-term debt (€5,010.8 million) representing 85.05% and 13.67 % respectively of total net assets,” he says.
In terms of cash and cash equivalents, amounting to €31,166 million, 85.54% of this balance is invested in marketable securities, with a particular focus on Portuguese public debt securities, which represent 80.43% of the total of these securities held by Social Institute for Security Financial Management and Social Security Financial Stability Fund.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
