Main aggregates of general government
General government finance statistics is used for monitoring fiscal discipline in the European Union (EU) Member States and for the purposes of the Excessive Deficit Procedure.
- Table of contents
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Concepts and definitions
- Data collection and statistical processing
Concepts and definitions
Residue
Amount of a financial instruments at a given point in time.
Transaction
Increase or reduction of financial instrument assets or liabilities in the result of financial transactions at a given point in time.
Financial accounts
Systems of national accounts that reflect financial instrument residue, transactions, fluctuation in the exchange rate, price changes and other changes in breakdown of sectors and transaction partner sector.
General government deficit and debt notification
General government debt
General government consolidated debt, or "Maastricht debt" is the received and outstanding gross debt of central government structure, local government structure, as well as of the social security fund (in accordance with the classification of institutional sectors) in nominal value (face value) at the end of the reporting period. Maastricht debt is consolidated both – at the level of sub-sectors, as well as between general government sectors, excluding mutual liabilities. General government debt consists of the sum of liabilities in the general government sector in the following categories of financial instruments: deposits, debt securities and loans.
General government deficit (–) or surplus (+)
Deficit (–) or surplus (+) shows general government (the sub-sectors of the central government, local government and the social security fund) net borrowing or net lending.
This is the net result of the use of resources that are available to the general government and that are calculated on the basis of ESA 2010 methodology.
Data collection and statistical processing
Survey Method and Source Data
The main sources of statistical data on general government finances are the annual report of the Ministry of Finance on the execution of the central and local government budgets and information from the statistical surveys on the activity of central and local government-controlled enterprises.
Statistical Population
According to the classification of institutional sectors in compliance with European System of Accounts ESA 2010, the general government sector includes all central and local government budgetary institutions, the social security fund and the central and local government-financed and controlled enterprises selected in compliance with ESA 2010 criteria on government sector formation.
Calculation Method
Financial indicators of the general government are calculated in line with the European System of Accounts (ESA 2010), EU Manual for National Accounts, Manual on Government Deficit and Debt.
Classifications
European System of Accounts (ESA 95) classification.