The 2020 accounts ofINPS they close with an additional hole (compared to 2019) of around six billion euros: less than half of what was estimated in the budget approved on 10st October by the social security institution, in which a larger deficit of almost 15,7 billion (-2020 billion) was forecast. This is what emerges from the analysis of the first data of the INPS 30 preliminary balance. But also due to Covid, benefits increased by around 2019 billion compared to XNUMX.
The results - says an INPS statement - are "improving compared to the forecasts elaborated after last summer, while incorporating extraordinary activities and disbursements from Covid emergency services", reads the note.
Here are the various estimates in detail (still subject to slight variations due to the adjustment accounting operations):
- overall performance of 2020 equal to 360 billion, with a decrease of approximately 11 billion compared to the October forecasts (371,2 billion);
- contributory revenue equal to 225 billion, an increase of 4 billion compared to the budget (221,2 billion);
- revenue from the state budget (civil disability, social benefits, Covid-19 benefits, etc.) as well as the deficits of social security management (State Pension Fund, etc.) equal to 143 billion, down by 7 billion compared to the 2020 budget (149,6 billion).
2020 recorded a performance boom, increased overall from 331 billion in 2019 to 360 billion in 2020. However, the final amount was lower than the October estimates due to the “less use of wage subsidies by companies compared to the estimates drawn up by the Institute and incorporated in the 2020 estimate, which takes into consideration the economic and financial effects of the current pandemic - continues INPS - In order to mitigate the financial effects that the current pandemic has produced on the budget of the Institute, with particular regard to the decrease in contribution revenues and the increase in income support services compared to the final 2019, the Government has introduced, with the recent Sostegni decree, measures aimed at strengthening the financial balance of INPS. In particular, an increase of 4 billion euro has been envisaged in the allocation for advances to the financial needs of the Institute's pension management, which therefore goes from 7,4 to 11,4 billion euro”.
From an administrative point of view, the management costs of the 2020 income statement are estimated at 3,6 billion, down compared to 2019. The incidence of the Institute's management costs on the total institutional services actually provided went from 1,52% in 2012 to 1,00% in 2020. The INPS Board of Directors expressed the hope that "the clear signal of the Institute's account keeping in the past year's emergency context can support the recovery of economic activities in a spirit of social cohesion and the patrimonial strengthening of social security management".
The 2020 final budget project will be approved by the Board of Directors in the first half of May.
