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Economy > Government deficits and debt > Government debt > General government gross financial liabilities per million: Countries Compared

DEFINITION: For most countries, gross financial liabilities refer to the liabilities (short and long-term) of all the institutions in the general government sector, as defined in the 1993 System of National Accounts (SNA) or in the 1995 European System of Accounts (ESA). This definition differs from the definition of debt applied under the Maastricht Treaty essentially in two respects. First, gross debt according to the Maastricht definition excludes trade credits and advances, as well as shares and insurance technical reserves. Second, government bonds are valued at nominal values instead of at market value or issue price plus accrued interest as required by the SNA rules. The United States and Canada also value government bonds at nominal value.

In principle, debts within and between different levels of government are consolidated; a loan from one level of government to another represents both an asset and an equal liability for the government as a whole and so it cancels out (is "consolidated”) for the general government sector. Figures expressed per million population for the same year.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH
1 Iceland 89.77% 1995
2 Luxembourg 24.3% 1995
3 Norway 13.29% 1995
4 Greece 9.62% 1995
5 Belgium 8.64% 1995
High income OECD countries average (profile) 8.43% 1995
6 Finland 8.13% 1995
7 Austria 7.79% 1995
8 Ireland 7.74% 1995
9 Portugal 6.99% 1995
10 Hungary 6.97% 1995
11 Switzerland 6.9% 1995
12 New Zealand 6.88% 1995
13 Slovakia 6.8% 1995
14 Denmark 5.93% 1995
15 Sweden 5.32% 1995
16 Czech Republic 3.72% 1995
17 Netherlands 3.34% 1995
18 Canada 2.18% 1995
19 Italy 1.99% 1995
20 Poland 1.36% 1995
21 Japan 1.36% 1995
Group of 7 countries (G7) average (profile) 1.22% 1995
22 France 1.18% 1995
23 Spain 1.08% 1995
24 Australia 0.853% 1995
25 United Kingdom 0.809% 1995
26 Germany 0.801% 1995
27 South Korea 0.642% 1995
28 United States 0.236% 1995

Citation

"Countries Compared by Economy > Government deficits and debt > Government debt > General government gross financial liabilities per million. International Statistics at NationMaster.com", OECD Country statistical profiles 2009. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/stats/Economy/Government-deficits-and-debt/Government-debt/General-government-gross-financial-liabilities-per-million

Economy > Government deficits and debt > Government debt > General government gross financial liabilities per million: Countries Compared Map

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