Page 75 - economic report 2021

and expenditure are counted, the CASS non- The CASS non-f nancial budget surplus
financial cash balance was a surplus of €1.7 grew slightly, but is st ll very small.
million (0.1% of GDP), compared with €1.2
million in 2020, due to slightly higher growth
in revenue than in expenditure.

3.1. Revenue

The settled non-financial revenue of the CASS saw growth of 3.3% in 2021, higher than the
percentage in the previous year (2.5%), reaching the figure of €335 million.

By chapters, social contributions, the most important source of revenue for the CASS, amounted to
€276.9 million, representing 82.7% of total non-financial revenue. This figure includes employers’
contributions, employees’ contributions, self-employed contributions and settled contributions
allocated to CASS financial benefits (retirement and widows’ life pensions, permanent and
temporary disability benefits). In 2021, social contributions saw an increase of 1%, having virtually
stagnated in 2020, in a context of falling average numbers of employees (-0.7%), an increased
wage bill (3.4%), and faster growth in the
Social contribut ons began to number of self-employed (6.7% on average).
rise again, af er stagnat ng
in 2020 due to the pandemic. The second most important chapter in CASS
revenue is current transfers from the central
Government, which rose 16.2% to €55.5 million,
16.6% of the total, thanks to the transfers received to finance the measures to mitigate the 73
pandemic. The non-financial revenue of the CASS is completed by a small contribution from other
taxes and revenue, which increased by 19.4% in 2021 after three consecutive years of decline,
and investment income, which fell 59%, so these were 0.7% and 0.01% of the total, respectively.

Chart 8.10
CASS BUDGET SETTLEMENT - Millions of euros

Non-f nancial revenue Non-f nancial expenditure Budget balance The Andorran economy: general developments | VIII. The public sector

Source: CASS (Andorran Social Security System) / Department of Stat st cs.

3.2. Expenditure

Growth in non-financial expenditure settled by the CASS accelerated in 2021 (3.2% vs 2.2% in
2020), to reach the total amount of €333 million.