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European Union

European Union Government debt Stats

Definitions

  • Deficit and financing > Cash surplus or deficit > % of GDP: Cash surplus or deficit is revenue (including grants) minus expense, minus net acquisition of nonfinancial assets. In the 1986 GFS manual nonfinancial assets were included under revenue and expenditure in gross terms. This cash surplus or deficit is closest to the earlier overall budget balance (still missing is lending minus repayments, which are now a financing item under net acquisition of financial assets)."
  • Deficit and financing > Central government debt > Total > % of GDP: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year."
  • Deficit and financing > Net incurrence of liabilities > Domestic > % of GDP: Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets (a third financing item). The difference between the cash surplus or deficit and the three financing items is the net change in the stock of cash."
  • Deficit and financing > Net incurrence of liabilities > Foreign > % of GDP: Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets (a third financing item). The difference between the cash surplus or deficit and the three financing items is the net change in the stock of cash."
STAT AMOUNT DATE RANK HISTORY
Deficit and financing > Cash surplus or deficit > % of GDP -1.9% 2008 55th out of 84
Deficit and financing > Central government debt > Total > % of GDP 44.73% 2008 24th out of 49
Deficit and financing > Net incurrence of liabilities > Domestic > % of GDP 1.13% 2008 34th out of 66
Deficit and financing > Net incurrence of liabilities > Foreign > % of GDP 0.28% 2008 29th out of 64

SOURCES: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

Citation

European Union Economy > Government debt Profiles (Subcategories)

Deficit and financing 4

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