Sammarinese Economic Situation: A Review of Key Indicators

Revenue and Expenditure Trends

Revenue levels in San Marino were relatively stable in recent years, ranging from 20.5% to 22.7% of GDP. This trend is reflected in the expenditure levels, which also remained stable, ranging from 21.1% to 59.2% of GDP.

Fiscal Performance and Debt Levels

The overall balance was negative, with a range of -1.4% to -37.6% of GDP. Government debt levels were relatively high, ranging from 61.6% to 71.6% of GDP, while public debt levels were also significant, ranging from 65.9% to 81.3% of GDP.

Monetary and Financial Sector Developments

• Deposit Growth: Deposit growth was stable in recent years.
• Private Sector Credit: Private sector credit growth was negative in some years, indicating a slowdown in economic activity.
• Net Foreign Assets: Net foreign assets were relatively high, ranging from 122.8% to 141.4% of GDP.

External Sustainability and Current Account Balance

The current account balance was positive in some years but negative in others, reflecting the country’s dependence on external trade.

Conclusion

This analysis provides a comprehensive overview of San Marino’s economic situation and policies, highlighting key trends and indicators that will inform decision-making by policymakers.