Contingent Liabilities

Contingent liabilities are a key element in analysing the sustainability of public finances. As they depend on future and uncertain events, these liabilities are conditional in nature, which makes it difficult to quantify them, assess their risk and anticipate their potential impact on public accounts.

This Note, which precedes the publication of the Report ‘Position and evolution of contingent liabilities of General Government’, analyses the types and different fiscal impacts that contingent liabilities may have, emphasising the importance of monitoring them for economic governance and fiscal transparency.

The ‘Notes’ series presents texts on matters related to the CFP's mission, seeking to help better understand the world of public finances and interpret the information available on public accounts.

Date of last update: 10/12/2025