government ˜ nance statistics — summary tables · presentation assures a focus on economic...

S TAT I S T I C A L B O O K S

S TAT I S T I C A L B O O K S

Governm

ent � nance statistics — Sum

mary tables

1/2018

Government � nance statistics —

Summary tablesDATA 1995-2017 2018

Government finance statistics —

Summary tables DATA 1995-2017 2018

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Manuscript completed in November 2018

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Contents

3 Government finance statistics – summary tables 2018

Contents 1 Introduction .............................................................................................................. 5

Introduction .................................................................................................................................... 5

2 Data ......................................................................................................................... 11 European Union (EU-28).............................................................................................................. 16

Euro area (EA-19) ......................................................................................................................... 20

Belgium ......................................................................................................................................... 24

Bulgaria......................................................................................................................................... 28

Czechia ......................................................................................................................................... 32

Denmark........................................................................................................................................ 36

Germany ....................................................................................................................................... 40

Estonia .......................................................................................................................................... 44

Ireland ........................................................................................................................................... 48

Greece ........................................................................................................................................... 52

Spain ............................................................................................................................................. 56

France ........................................................................................................................................... 60

Croatia........................................................................................................................................... 64

Italy ................................................................................................................................................ 68

Cyprus........................................................................................................................................... 72

Latvia............................................................................................................................................. 76

Lithuania ....................................................................................................................................... 80

Luxembourg ................................................................................................................................. 84

Hungary ........................................................................................................................................ 88

Malta .............................................................................................................................................. 92

Netherlands .................................................................................................................................. 96

Austria......................................................................................................................................... 100

Poland ......................................................................................................................................... 104

Portugal ...................................................................................................................................... 108

Romania ...................................................................................................................................... 112

Slovenia ...................................................................................................................................... 116

Slovakia ...................................................................................................................................... 120

Finland ........................................................................................................................................ 124

Sweden ....................................................................................................................................... 128

United Kingdom ......................................................................................................................... 132

Contents


Iceland......................................................................................................................................... 136

Norway ........................................................................................................................................ 140

Switzerland ................................................................................................................................. 144

3 Metadata ............................................................................................................... 148 Metadata ..................................................................................................................................... 149

1 Introduction


Introduction Government finance statistics (GFS) summary tables show the economic activities of government in a harmonised and comparable way. They differ noticeably from the budget presentations or public accounting presentations that are nationally specific and not harmonised between countries. GFS data include both the financial (e.g. borrowing and lending) and non-financial (income and expenditure) activities of government. The summary tables groups together all government finance statistics collected by Eurostat specifically for the general government sector (i.e. excluding public corporations) in the framework of national accounts, completed by statistical information gathered for administrative purposes.

European GFS are defined by reference to the 2010 European system of national and regional accounts (ESA 2010) basis, the European manual for national accounts. These GFS form the basis for fiscal monitoring in Europe, notably for the statistics related to the Excessive deficit procedure (EDP). The approach for compiling and presenting European GFS is to re-arrange the transactions recorded in the various ESA annual and quarterly financial and non-financial accounts for the general government sector. Eurostat collects the data from Member States, Iceland, Norway and Switzerland through the ESA 2010 transmission programme and also in the context of the Excessive Deficit Procedure. Both sets of data are based on national accounts concepts, and therefore "general government" in this context does not include certain corporations owned by government. Eurostat publishes these data in Eurostat's public database.

This publication presents an overview of GFS data for each Member State, the EU-28, the euro area (19 countries), Iceland, Norway and Switzerland in an integrated manner. The data include: government revenue, expenditure, deficit, transactions in assets and liabilities, other economic flows, and balance sheets. The presentation is similar to that of business accounting where the profit and loss accounts and the balance sheet are presented together, in a linked manner. One of the major advantages of this presentation is that it is possible to see the links between datasets in a "complete picture". For example, if government expenditure exceeds revenue the financial accounts will show how the deficit is being financed through borrowing or running down financial assets. The integrated presentation assures a focus on economic substance over legal form, improves data harmonisation and comparability across countries, and ensures full transparency in the respect of the different statistical concepts and practices.

The summary GFS presentation also brings together an analysis of deficit and debt and their main components. More generally, linkages between stock and flow variables as well as the connection between financial and non-financial accounts are made transparent. This allows for a complete and concise overview of the governments’ financial and non-financial positions.

REVENUE AND EXPENDITURE The summary tables firstly show total revenue as the aggregate of all transactions recorded under resources in the ESA framework, including subsidies receivable in the current accounts and capital

1 Introduction

http://ec.europa.eu/eurostat/statistics-explained/index.php/Glossary:Public_debt

1 Introduction


transfers receivable recorded in the capital account. Total general government expenditure follows the presentation of revenue. Expenditure is an aggregate of all transactions recorded under positive uses, and subsidies payable, in the current accounts as well as transactions (gross capital formation, acquisition less disposals of non-financial non-produced assets plus capital transfers payable) in the capital account.

A revenue transaction is one that increases net worth. Revenue is presented in the tables as the sum of taxes, net social contributions, sales (defined as market output, output for own final use and payments for non-market production), other current revenues and capital transfer revenues. Total taxes are composed of taxes on production and imports (so-called indirect taxes), current taxes on income and wealth (direct taxes), and capital taxes (some classifications of taxes include capital taxes as a component of direct taxes). Net social contributions consist of actual social contributions by employers and households collected as well as imputed social contributions, households' social contribution supplements and social insurance scheme service charges. 'Other current revenues' consist of the categories property income earned, other subsidies on production received and other current transfers. While this latter category is often dominated by other current transfers between different levels of government, these must be consolidated when presenting data for the whole general government.

Total expenditure is calculated as the sum of transactions in the following categories: compensation of employees, intermediate consumption, interest, subsidies, social benefits, other current expenditure, capital transfers and capital investments. The categories 'compensation of employees' and 'intermediate consumption' form part of the cost of production incurred by the government as a producer. The category 'compensation of employees' includes 'wages and salaries paid' and the 'employers' social insurance contributions' (including imputed social contributions). 'Intermediate consumption' contains the goods and services consumed by the government during its production process. Social benefits consist of social benefits other than social transfers in kind (mainly cash transfers) and of social transfers in kind purchased via market producers (such as the provision, paid by government, of medical services by health care providers classified outside the general government sector). The recording of social benefits expenditure does not include social transfers in kind provided by non-market producers within general government, such as medical services provided by hospitals classified within general government or certain types of social housing. This is to avoid counting such expenditures twice (once as social transfers and once as a cost of production) in the calculation of total expenditure. The category 'interest' includes payments on government liabilities on an accrual basis. Interest expenditure does not include fees and charges made under the service component of interest payments; such expenditures are recorded as 'intermediate consumption'. The category 'other current expenditure' is composed of 'other taxes on production', 'property income other than interest', 'current taxes on income, wealth, etc.', 'other current transfers' and the 'adjustment for the change in pension entitlements'. 'Capital transfers' comprise 'investment grants' and 'other capital transfers'. Last in the sequence, the category 'capital investments' includes 'gross fixed capital formation' among other capital transactions. Disposals of non-financial assets are included as negative investments in this category and not on the revenue side.

GOVERNMENT DEFICIT The balancing item of the general government in the non-financial accounts is net lending (positive sign) or net borrowing (negative sign), i.e. the government surplus or deficit, that is total general government revenue minus total general government expenditure. The net lending/ borrowing calculated according to the data transmitted in the context of the ESA 2010 transmission programme is conceptually identical to the so-called Maastricht deficit used for the Excessive Debt Procedure, which is subject to a thorough verification by Eurostat, as well as possible adjustments introduced by Eurostat on the reported figures. The ESA and EDP deficit may occasionally differ due to differences in vintages, though not in the summary tables' presentation as the data reported by Member States is strictly consistent during the EDP notifications periods.

1 Introduction


GOVERNMENT FINANCING Similar to other institutional units and private companies, the financial account of general government records the transactions in financial assets and liabilities and is included in the integrated presentation of the GFS.

The position 'net financial transactions' describes the net financing (i.e. net acquisition of financial assets minus net incurrence of liabilities) of the government and is conceptually equal to the ESA 2010 definition of the government net lending or net borrowing calculated in the non-financial accounts, since a surplus has to be invested or a deficit has to be financed.

The difference between the two balancing items in the financial and non-financial accounts is a statistical discrepancy, due to the use of different data sources for compiling the financial and the non-financial accounts. This forms one position in the integrated GFS presentation and is one way in which the consistency of the data is visible. It is also an important quality indicator. It is not however a final indication, because some countries mask this discrepancy through adjustments to some financial instruments (traditionally in the 'other accounts' categories). Although this statistical discrepancy shows a relatively high volatility over the years, it has remained below 0.1% of EU-28 GDP in all years, an indicator of the good quality of the data and consistency of the data sources. Even though this discrepancy is relatively small at EU-28 level, there are some individual Member States for which this discrepancy is fairly significant, both on an annual and quarterly basis.

Under the heading 'government financing' – the financial accounts transactions – details of the 'net acquisition of financial assets' and 'net incurrence of financial liabilities' are also shown. The category ‘net acquisition of financial assets’ is broken down into the subcategories currency and deposits, debt securities, loans, shares and other equity and other financial assets, while the category ‘net incurrence of financial liabilities’ is shown to consist of currency and deposits, debt securities, loans and other liabilities.

OTHER ECONOMIC FLOWS IN GOVERNMENT ASSETS AND LIABILITIES Under the heading 'other economic flows in assets and liabilities' are adjustments to the value of the stock of financial assets and liabilities which are not due to transactions (‘net acquisition of financial assets’ and ‘net incurrence of financial liabilities’). These other changes in stock are relatively important. They primarily reflect 'revaluations' (i.e. holding gains and losses on assets and liabilities, either realised or not) but also, so called 'other changes in volumes' (stemming for example from sector reclassifications).

GOVERNMENT BALANCE SHEET The government balance sheet is the stock equivalent of the presentation of government financing described above, containing subcategories consistent with the flow analysis. For the moment, only financial assets and liabilities are available for all Member States, though efforts are now underway to collect data on non-financial assets. Assets and liabilities are valued at market value, notably for debt securities, financial derivatives and shares and other equity. Holding gains/losses on these (realised or not) do not enter government revenue (or expenditure) but are reported in the 'other economic flows'.

GOVERNMENT DEBT AND LINK WITH THE DEFICIT Table B of the integrated presentation includes the so-called 'stock flow adjustment' (SFA) and gross government debt in nominal value (according to the Maastricht definition). The SFA is the difference between the change in the stock of government debt and the flow of annual deficit/surplus. It is widely known that deficits contribute to an increase in debt levels, while surpluses reduce them. However, the change of government debt also reflects other elements. A positive SFA means that the government debt increases more than the annual deficit (or decreases less than implied by the surplus). The importance of the SFA has been emphasised many times, as an efficient statistical monitoring of fiscal performance requires understanding the coherence between the two key fiscal indicators: government deficit and debt.

1 Introduction


Since the 2011 editions of the GFS tables, a new element has been introduced: the 'intergovernmental lending'. From 2011 onwards, this includes loans made by the European Financial Stability Facility (EFSF) - see Eurostat decision regarding EFSF. In order to avoid a "double-counting" at the level of the EU and euro area aggregates, the total value of intergovernmental lending is consolidated. For individual countries, in contrast, intergovernmental lending is reported as a general government asset, and thus is not deducted from debt.

1 Introduction


DATA PRESENTATION Data are generally presented for general government, but also by subsectors for 2017: central government (S.1311), state government (S.1312), local government (S.1313) and social security funds (S.1314). A column ‘consolidation’ reports the transactions, other flows and balance sheet links existing in between two subsectors that are eliminated when presenting general government data. The consolidation is shown here with a negative amount when the general government is lower than the sum of the subsectors, which is necessarily the case for revenue, expenditure and balance sheets items. Consolidation can be of either sign for financial transactions and other economic flows.

The EU and EA aggregates are in principle the mere sum of countries, expressed in euro, converting flows with the average exchange rate of the period and converting balance items with the end of period exchange rate. As a result, item 62 is not the mere sum of flows observed across countries but also includes the impact of specific aggregating effects (stemming from exchange rates), shown under item 62a. Furthermore, in the case of debt (item 64 and thus 58, 59 and also 60), intergovernmental lending is eliminated.

The data are presented in million of national currency, as a % of GDP, and in growth rates. For some items, the growth rate shown is the ‘contribution’ to the growth rate of an underlying item: to the growth rate of underlying balance sheet items, for items 22 to 38; and to the growth rate of debt (item 64) for items 57 to 63.

The sign ‘:’ identifies missing data ('not available'). Blank cells identify 'not applicable data'. Data are systematically 'not applicable' for some items where growth rates cannot be defined (e.g. item 20), as well as in the case where consolidation cannot exist (e.g. item 22). Data are also ‘not applicable’ for some subsectors, when not existing in some Member States. For Greece, all data for financial transactions and balance sheet are shown as ‘not available’, because data submitted by Bank of Greece do not follow ESA 2010 standards, and have thus not been validated by Eurostat.

The sources for each line of the integrated presentation are described in the metadata at the end of this publication. Users can download data from these areas with greater detail than presented in this publication and will also find comprehensive metadata on the data in Eurostat's public database.

This publication is updated twice per year, to coincide with the publication by Eurostat of data relating to the Excessive Deficit Procedure as related government finance statistics data. This publication corresponds to data transmitted by EU Member States and EFTA countries in September and October 2017. As such it is a "snapshot" of the position at that time, and data may be revised subsequently by countries and be published in Eurostat's public database.

1 Introduction


DATA EXTRACTED: 31 OCTOBER 2018

FURTHER INFORMATION Further information on government finance statistics is available in the dedicated section Government Finance on Eurostat's website: http://ec.europa.eu/eurostat/web/government-finance-statistics.

On 'Statistics Explained', more detailed Excel tables are available for download: http://ec.europa.eu/eurostat/statistics-explained/index.php/Integrated_government_finance_statistics_presentation.

CONTACT Yordan Yordanov, Philippe de Rougemont (D.1), Laura Wahrig EUROSTAT, Unit D.4 – Quality management; GFS European Commission L 2920 – Luxembourg E-mail: [email protected]

http://ec.europa.eu/eurostat/web/government-finance-statistics

http://ec.europa.eu/eurostat/web/government-finance-statistics

http://ec.europa.eu/eurostat/statistics-explained/index.php/Integrated_government_finance_statistics_presentation

http://ec.europa.eu/eurostat/statistics-explained/index.php/Integrated_government_finance_statistics_presentation

mailto:[email protected]

2 Data


Data EU-28 AND EURO AREA REVENUE AND EXPENDITURE EU-28 general government total revenue grew from EUR 6 666 billion in 2016 to EUR 6 887 billion in 2017. This represents an increase of 3.3 %. As a ratio to GDP, EU-28 general government total revenue increased from 44.6 % to 44.8 % of GDP between 2016 and 2017.

EU-28 general government total expenditure increased from EUR 6 917 billion in 2016 to EUR 7 037 billion in 2017, representing an increase of 1.7 %. As a ratio to GDP, EU-28 general government total expenditure decreased by 0.5 percentage points of GDP – from 46.3 % of GDP in 2016 to 45.8 % of GDP in 2017.

In the euro area (EA-19), total general government revenue amounted to 46.1 % of GDP in 2017 (up from 46.0 % in 2016) and total expenditure to 47.0 % of GDP (down from 47.5 % in 2016). In absolute terms, euro area general government total revenue increased from EUR 4 978 billion in 2016 to EUR 5 162 billion in 2017, growing by 3.7 %. Euro area total expenditure increased from EUR 5 147 billion to EUR 5 270 billion, growing by 2.4 %.

Figure 1: Development of total expenditure and total revenue, 1995–2017 (EUR billion)

Source: Eurostat (online data code: gov_10a_main)

In absolute terms, a decrease in general government total revenue at the level of the EU or euro area was only observed at the height of the economic crisis in 2009. Between 2008 and 2009, total revenue dropped by 6.4 % in the EU-28 and 3.5 % in the euro area. In all other years between 1995 and 2017, general government total revenue grew in absolute terms. By 2011, EU and euro area general government revenue had recovered to reach pre-crisis levels.

2 Data

2 Data


COMPONENTS OF TOTAL REVENUE AND TOTAL EXPENDITURE Across the EU-28, the main components of total general government revenue are taxes and net social contributions. In 2017, taxes made up 59.7 % of total revenue in the EU-28 and 56.6 % in the EA-19, while net social contributions amounted to 29.7 % of total revenue in the EU-28 and 33.1 % in the EA-19. Market output, output for own final use and payments for non-market production (‘sales/fees’ and own account capital formation) made up 6.9 % of total revenue in the EU-28 and an identical share of total revenue in the EA-19. Property income (mainly interest, dividends and rent) made up 1.7 % of total revenue in the EU-28 and 1.5 % in the EA-19.

Figure 2: Composition of total revenue, 2017 (% of total revenue)


The largest proportion of EU-28 government expenditure in 2017 concerned the redistribution of income in the form of social transfers in cash or in kind. Social transfers (social benefits and social transfers in kind — purchased market production) made up 45.1 % of total expenditure in the EU-28 and 47.8 % in the EA-19. Compensation of employees accounted for 21.7 % of government expenditure in the EU-28 and 20.9 % in the EA-19. Intermediate consumption made up 12.5 % of total expenditure in the EU-28 and 10.9 % of total expenditure in the EA-19. Property income paid — of which by far the largest part is made up of interest payments — accounted for 4.4 % of government expenditure in the EU-28 and 4.2 % in the EA-19. Gross fixed capital formation (mainly investment) accounted for 6.0 % of total expenditure in the EU-28 and 5.5 % in the EA-19.

Figure 3: Composition of total expenditure, 2017 (% of total expenditure)

(1) Social benefits other than social transfers in kind and social transfers in kind - purchased market production.


2 Data


GOVERNMENT DEFICIT The EU-28 government deficit-to-GDP ratio decreased from -1.7 % in 2016 to -1.0 % in 2017, while this ratio decreased in the EA-19 from -1.6 % to -1.0 %. In both the EU and the euro area, the deficit decreased in absolute terms. In the EU-28, the general government net borrowing amounted to EUR -250 billion in 2016 and to EUR -150 billion in 2017. In the EA-19, the deficit decreased from EUR -169 billion to EUR -108 billion. Both as a ratio to GDP and in EUR billion, the general government deficit of the EU and the euro area reached the lowest level since 2008. For the euro area, the lowest deficits were recorded in the years 2000 (-0.5 % of GDP) and 2007 (-0.7 % of GDP) and the highest deficits were recorded in the years 1995 (-7.4 % of GDP, influenced by a one-off event in Germany), 2009 and 2010 (in both -6.2 % of GDP).

Figure 4: EU-28 and EA-19 net lending (+)/ net borrowing (-), 1995-2017 (% of GDP)

Source: Eurostat (online data code: gov_10dd_edpt1)

GOVERNMENT FINANCING Figure 5: EU-28 net financial transactions, transactions in assets and liabilities, 2004-2017 (EUR billion)

Source: Eurostat (online data code: gov_10a_ggfa)

2 Data


The increase and peaks in transactions in financial assets from 2008 onwards can be explained by governments having acquired assets to support financial institutions. Negative transactions in financial assets in 2013 and 2015 are explained by government's disposing of assets acquired during the economic and financial crisis. The large incurrence of liabilities in 2008, 2009, 2010 and 2012 are also related to widening deficits, acquisition of assets and hence financing needs.

GOVERNMENT BALANCE SHEET At the level of the EU-28 and EA-19, a significant increase in the stocks of liabilities is observed from 2008, together with an increase in assets which was less pronounced. The rise in the stock of liabilities is mainly due to debt securities, which are by far the most important financial instrument on the government liability side. The stock of loan liabilities also increased substantially. The remainder of financial liabilities is mainly 'other accounts, payable'.

Figure 6: EU-28 stock of financial assets by instrument, 2004-2017 (EUR billion)


The stock of financial assets is mainly held in equity and investment fund shares (for example public corporations not classified in general government), with other accounts receivable, currency and deposits, loans and debt securities also making up important parts.

Figure 7: EU-28 stock of financial liabilities by instrument, 2004-2017 (EUR billion)


2 Data


GOVERNMENT DEBT AND LINK WITH THE DEFICIT In the EU-28 the government debt-to-GDP ratio decreased from 83.3 % at the end of 2016 to 81.6% at the end of 2017, while in the EA-19 it fell from 89.1 % to 86.8 %. The decrease observed in absolute terms for the EU-28 (change in debt EUR -63 billion between 2015 and 2016), can be explained to a large extent by the depreciation of UK liabilities denominated in British pound sterling (contained in 'valuation effects and other changes in volume in government debt'), which outstripped the positive contributions to the change in debt, mainly the deficit and the positive acquisition of financial assets.

Figure 8: EU-28 and EA-19 general government gross debt, 2000-2017 (EUR billion)

Source: Eurostat (online data code: gov_10dd_edpt1)

EU-28

Consolidated general government (S.13)in million euro

Table A - Summary table 1995 2000 2005 2008 2009 2010 2011 2012

Government revenue and expenditure1=2+6+7+8+9 Total revenue : : 5,027,655 5,716,837 5,352,602 5,581,502 5,811,699 6,016,602

2=3+4+5 Taxes : : 2,985,572 3,386,909 3,067,405 3,227,328 3,377,419 3,519,2383 . Indirect taxes : : 1,504,828 1,643,954 1,533,349 1,644,160 1,721,142 1,786,7014 . Direct taxes : : 1,450,923 1,686,431 1,494,542 1,554,094 1,621,267 1,702,5575 . Capital taxes : : 29,821 56,524 39,514 29,074 35,011 29,9806 Social contributions : : 1,499,480 1,690,857 1,654,718 1,695,482 1,750,266 1,794,1797 Sales (incl . own account capital formation) : : 321,069 374,832 380,981 402,236 412,152 420,1218 Other current revenue : : 185,804 243,681 230,064 232,274 244,032 251,4999 Capital revenue : : 35,730 20,558 19,435 24,181 27,830 31,565

10=11+..+18 Total expenditure : : 5,319,249 6,042,316 6,165,585 6,402,875 6,415,716 6,591,32411 Intermediate consumption : : 647,056 757,051 770,433 796,705 799,323 818,81712 Compensation of employees : : 1,213,870 1,344,217 1,355,961 1,391,884 1,393,976 1,408,93813 Interest : : 310,378 352,240 319,756 345,139 383,418 387,54414 Subsidies : : 126,012 146,304 163,495 168,147 165,066 165,93815 Social benefits : : 2,224,054 2,490,688 2,608,609 2,706,477 2,748,376 2,841,183

15a of which other than transfers in kind : : 1,734,006 1,922,975 2,016,372 2,093,648 2,123,721 2,203,04316 Other current expenditure : : 287,117 319,143 318,155 337,309 337,354 351,94817 Capital transfers payable : : 142,786 187,072 170,499 210,079 158,247 205,19418 Capital investments : : 367,976 445,601 458,677 447,136 429,956 411,76219 of which, gross fixed capital formation : : 369,942 446,203 456,633 450,963 431,552 412,063

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : : -291,593 -325,479 -812,983 -821,373 -604,016 -574,721

Government financing

21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -7,901 10,777 -1,487 -1,279 -7,442 -10,698

22=23-29 Net financial transactions : : -283,692 -336,256 -811,496 -820,094 -596,574 -564,02423=24+..+28 Net acquisition of financial assets : : 86,930 409,441 245,527 165,178 37,965 224,977

24 Currency and deposits : : 33,606 121,486 17,503 -16,989 43,117 37,75725 Debt securities : : 24,747 70,828 26,767 104,266 -15,148 -9,21226 Loans : : 7,274 107,133 93,043 67,717 10,565 109,74827 Shares and other equity : : -4,528 89,019 77,286 11,615 -13,293 72,31028 Other financial assets : : 25,828 20,975 30,927 -1,433 12,721 14,370

29=30+..+33 Net incurrence of liabilities : : 370,622 745,697 1,057,022 985,272 634,539 789,00030 Currency and deposits : : 27,746 35,804 13,843 -2,384 10,950 7,04631 Debt securities : : 296,079 605,927 963,935 650,694 486,367 425,53632 Loans : : 22,638 73,379 58,595 307,581 113,362 316,33333 Other liabilities : : 24,154 30,585 20,647 29,380 23,859 40,085

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : : : : : : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : : 230,205 -304,716 153,041 283,983 12,331 202,19636=50(t)-50(t-1)-29 Other changes in liabilities : : 60,959 -46,823 105,149 31,141 143,505 570,527

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 169,245 -257,893 47,892 252,843 -131,175 -368,332

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : : : : : : : :

Government balance sheet 39=40+44 Total assets : : : : : : : :

40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets : : : : : : : :42 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets : : 3,409,998 4,015,143 4,413,710 4,862,872 4,913,168 5,340,34045 Currency and deposits : : 531,104 726,345 762,229 755,326 803,989 847,53446 Debt securities : : 178,960 291,570 326,644 450,849 435,285 441,48447 Loans : : 422,978 503,810 602,036 752,562 792,623 904,27848 Shares and other equity : : 1,548,269 1,706,172 1,881,184 2,041,753 2,002,610 2,217,298

48a of which, Investment fund shares : : 134,690 142,322 170,462 187,807 182,821 204,49949 Other financial assets : : 728,685 787,245 841,615 862,384 878,660 929,744

50=51+..+54 Liabilities : : 8,261,243 9,107,788 10,269,959 11,286,371 12,064,416 13,423,94351 Currency and deposits : : 412,369 424,599 456,570 466,314 525,131 536,37452 Debt securities : : 6,037,589 6,629,370 7,669,437 8,335,655 8,901,755 9,820,67553 Loans : : 1,216,655 1,292,531 1,356,915 1,700,013 1,804,290 2,130,34754 Other liabilities : : 594,630 761,288 787,035 784,389 833,241 936,546

55=44-50 Financial net worth : : -4,851,245 -5,092,645 -5,856,248 -6,423,499 -7,151,248 -8,083,60356=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : -291,593 -325,478 -812,982 -821,373 -604,016 -574,721

58=64(t)-64(t-1) Change in Government Debt : : 368,923 468,376 1,090,663 1,082,496 638,298 540,52159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 77,330 142,897 277,681 261,122 34,282 -34,201

60=23-[73a(t)-73a(-1)] Net acquisition of financial assets (igl consolidated) : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : :62 Valuation effects and other changes in volume in government debt : : : : : : : :

62a of which, aggregation effects : : : : : : : :63 Statistical discrepancies : : : : : : : :

64=65+66+69 Government debt (nominal / face value) : 5,804,044 7,137,257 7,947,439 9,038,102 10,120,598 10,758,896 11,299,41765 . Currency and deposits : 318,194 336,337 354,117 385,112 395,219 457,776 470,578

66=67+68 . Debt securities : 4,382,970 5,590,434 6,310,858 7,305,477 8,056,073 8,580,417 8,911,53567 .. short term : 270,485 435,602 682,338 851,963 767,827 805,525 745,91868 .. long term : 4,112,485 5,154,832 5,628,520 6,453,514 7,288,246 7,774,893 8,165,617

69=70+71 . Loans : 1,102,882 1,210,487 1,282,464 1,347,514 1,669,305 1,720,705 1,917,30570 .. short term : 100,536 140,847 171,584 147,552 323,553 289,426 245,93871 .. long term : 1,002,346 1,069,640 1,110,879 1,199,963 1,345,752 1,431,278 1,671,36672 Intergovernmental lending (asset - not consolidated)* : : : : 914 21,196 69,831 196,399

73 Intergovernmental lending (borrowing- not consolidated)* : : : : 914 21,196 69,831 196,39974=45+46+48a Government liquid assets : : 844,755 1,160,238 1,259,335 1,393,982 1,422,095 1,493,517

Table C - Memorandum items75 Government final consumption expenditure : : 2,324,242 2,633,732 2,677,689 2,754,153 2,772,866 2,825,93176 Consumption of fixed capital : : 270,908 314,562 316,977 331,075 341,857 353,705

77=20+18-76 Net savings and capital transfers : : -194,526 -194,440 -671,282 -705,312 -515,917 -516,66478 GDP 7,360,030 9,661,152 11,605,403 13,086,037 12,329,520 12,841,856 13,218,131 13,484,536

79 Government employment (in thousands of persons) : : : : : : : :

(*) includes lending or borrowing via the EFSF

Government finance statistics – summary tables 2018 16

EU-28


Table A - Summary table 2013 2014 2015 2016 2017 2017 2017 2017 2017 2017

Government revenue and expenditure1=2+6+7+8+9 6,157,734 6,331,256 6,613,507 6,666,392 6,886,739 -1,473,285 3,638,183 725,620 1,647,942 2,348,279

2=3+4+5 3,600,015 3,727,092 3,928,038 3,971,843 4,112,887 2,939,365 379,039 613,019 181,4643 1,811,871 1,884,094 1,978,422 1,992,351 2,052,464 1,574,473 147,776 268,528 61,6874 1,750,438 1,807,562 1,909,793 1,935,227 2,017,864 1,337,322 219,560 341,212 119,7715 37,706 35,435 39,823 44,265 42,558 27,571 11,703 3,279 66 1,818,496 1,866,499 1,935,875 1,977,692 2,046,032 318,207 31,560 15,415 1,680,8507 431,148 443,428 459,502 461,311 471,754 168,603 61,350 216,153 25,6498 275,035 257,922 247,696 233,547 233,957 -1,399,188 194,670 241,280 742,315 454,8809 33,040 36,315 42,396 21,999 22,109 -74,097 17,338 12,391 61,041 5,435

10=11+..+18 6,609,155 6,738,125 6,960,908 6,916,835 7,036,987 -1,473,284 3,832,368 720,876 1,634,628 2,322,40011 829,738 855,442 890,304 876,595 882,994 337,940 90,464 404,738 49,85212 1,410,636 1,440,641 1,486,799 1,494,106 1,523,613 645,559 241,474 533,629 102,95113 366,683 351,329 329,876 312,121 306,295 -8,524 274,761 18,935 16,099 5,02314 169,167 185,513 197,225 199,405 204,520 126,956 23,782 45,978 7,80315 2,893,539 2,973,926 3,087,193 3,118,567 3,170,702 700,317 122,157 302,229 2,045,999

15a 2,240,908 2,297,989 2,382,276 2,391,717 2,425,129 615,078 78,391 156,138 1,575,52216 378,227 369,923 378,166 377,128 368,431 -1,390,664 1,379,879 150,691 127,220 101,30517 159,602 154,990 162,818 139,381 167,149 -74,097 178,135 30,787 31,569 75518 401,562 406,362 428,526 399,531 413,284 188,821 42,585 173,167 8,71119 400,507 409,834 431,221 404,902 421,203 192,631 42,381 177,428 8,762

Government deficit

20=1-10 -451,421 -406,868 -347,401 -250,442 -150,248 -194,186 4,745 13,314 25,879


21=20-22 -1,804 -14,004 -5,046 -8,643 1,891 690 1,186 141 -121

22=23-29 -449,617 -392,864 -342,354 -241,799 -152,139 -194,876 3,558 13,173 26,00023=24+..+28 -41,061 35,698 -85,218 60,940 102,952 -33,967 82,102 -13,022 22,987 44,852

24 -52,722 49,803 -3,801 41,634 81,653 -12,478 56,112 -3,494 16,419 25,09425 -26,299 -19,392 -11,485 8,003 -5,988 7,916 -3,887 -5,424 -641 -3,95226 43,741 -22,079 -26,074 10,582 4,146 -23,266 24,080 -2,071 6,092 -68827 -24,999 -10,701 -38,382 5,839 2,059 -6 -12,035 -304 1,141 13,26228 19,223 38,061 -5,479 -5,114 21,082 -6,138 17,834 -1,730 -21 11,137

29=30+..+33 408,556 428,563 257,136 302,739 255,091 -33,973 276,978 -16,581 9,814 18,85330 -44,050 34,789 27,111 25,896 13,476 -12,479 26,130 0 -175 031 436,626 340,001 266,898 289,641 228,622 7,917 220,021 -6,719 3,203 4,20132 20,940 7,199 -54,346 -25,381 -59,699 -23,268 -16,197 -7,379 -7,956 -4,89933 -4,961 46,571 17,478 12,584 72,692 -6,136 47,020 -2,483 14,740 19,551

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 : : : : : : : : :

35=44(t)-44(t-1)-23 76,854 218,005 136,352 -41,311 66,182 201 19,242 17,142 8,132 21,46536=50(t)-50(t-1)-29 -217,201 1,008,487 119,179 -113,887 -266,911 205 -235,235 -9,523 -14,114 -8,244

37=35-36 = 55(t)-55(t-1)-22 294,055 -790,482 17,173 72,576 333,093 254,477 26,665 22,246 29,708

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :

Government balance sheet 39=40+44 : : : : : : : : : :

40=41+42+43 : : : : : : : : :41 : : : : : : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 5,376,133 5,629,837 5,680,971 5,700,600 5,869,735 -754,900 3,897,367 358,502 1,170,066 1,198,70045 800,123 876,417 887,741 920,597 998,722 -120,594 516,174 91,289 281,328 230,52646 429,115 441,980 444,699 458,266 436,320 -87,431 227,305 27,831 32,053 236,56247 948,481 956,867 946,933 911,124 900,152 -414,500 1,079,423 83,163 127,163 24,90348 2,250,888 2,356,937 2,386,446 2,435,436 2,530,246 -860 1,385,588 133,097 587,200 425,221

48a 213,707 229,750 247,441 288,264 310,825 : : : :49 947,526 997,637 1,015,152 975,177 1,004,295 -131,512 688,877 23,123 142,320 281,487

50=51+..+54 13,615,298 15,052,348 15,428,663 15,617,516 15,605,696 -754,905 13,546,870 1,069,579 1,155,776 588,37651 488,396 539,787 580,592 575,322 580,930 -120,595 699,465 0 2,060 052 10,017,953 11,322,426 11,645,242 11,888,637 11,872,713 -87,431 11,190,665 488,721 72,765 207,99353 2,177,719 2,205,716 2,166,658 2,122,034 2,060,829 -414,503 1,042,204 541,555 778,823 112,74954 931,230 984,418 1,036,172 1,031,522 1,091,224 -132,374 614,536 39,303 302,126 267,633

55=44-50 -8,239,165 -9,422,511 -9,747,692 -9,916,916 -9,735,961 -9,649,503 -711,077 14,290 610,32456=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -451,421 -406,869 -347,402 -250,443 -150,246 -194,185 4,745 13,315 25,879

58=64(t)-64(t-1) 349,000 509,382 360,991 -63,245 95,202 -26,925 147,619 -15,709 -9,621 -16259 = 57+58 = 60+..+63 -102,421 102,513 13,589 -313,688 -55,045 -26,926 -46,566 -10,964 3,694 25,717

60=23-[73a(t)-73a(-1)] : 26,749 -72,424 68,180 110,676 -34,002 83,946 -7,683 25,310 43,105

61=(-)33 : -45,971 -13,439 -13,664 -71,643 6,137 -46,570 2,482 -14,436 -19,256

62 : 138,937 110,345 -353,850 -88,724 -3,247 -83,914 -1,562 : :

62a : 108,902 130,598 -340,327 -62,138 2,159 -60,329 0 -4,260 29163 : -17,205 -10,893 -14,355 -5,355 106 -27 -4,201 -2,578 1,344

64=65+66+69 11,648,417 12,157,799 12,518,789 12,455,544 12,550,746 -615,972 11,034,156 979,772 847,763 305,02565 422,662 473,902 514,458 509,115 514,695 -120,403 633,038 0 2,060 0

66=67+68 9,296,189 9,740,212 10,091,556 10,079,004 10,227,044 -81,608 9,607,221 438,811 70,160 192,46067 681,094 700,355 681,649 665,585 620,961 -9,563 565,091 15,272 6,893 43,26868 8,615,095 9,039,858 9,409,907 9,413,419 9,606,084 -72,043 9,042,130 423,539 63,266 149,192

69=70+71 1,929,564 1,943,684 1,912,775 1,867,424 1,809,006 -413,964 793,900 540,962 775,543 112,56570 211,437 221,711 216,905 210,939 198,854 -48,788 124,403 26,851 51,808 44,58171 1,718,128 1,721,973 1,695,871 1,656,486 1,610,153 -365,174 669,496 514,111 723,734 67,984

72 235,874 245,686 236,372 235,731 234,583 : : : :

73 235,874 245,686 236,372 235,731 234,583 : : : :74=45+46+48a 1,442,945 1,548,147 1,579,881 1,667,127 1,745,868 : : : :

Table C - Memorandum items75 2,848,693 2,921,976 3,026,170 3,040,514 3,092,705 1,082,061 353,225 1,043,650 613,76976 358,553 365,509 373,579 374,035 381,464 167,115 40,137 163,692 10,520

77=20+18-76 -408,411 -366,015 -292,453 -224,946 -118,428 -172,480 7,193 22,789 24,07078 13,596,774 14,071,985 14,826,929 14,953,490 15,373,553

79 : : : : :

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


EU-28

Consolidated general government (S.13)in % of GDP

Table A - Summary table 1995 2000 2005 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2017 2017 2017 2017 2017

Government revenue and expenditure1=2+6+7+8+9 Total revenue : : 43.3 43.7 43.4 43.5 44.0 44.6 45.3 45.0 44.6 44.6 44.8 -9.6 23.7 4.7 10.7 15.3

2=3+4+5 Taxes : : 25.7 25.9 24.9 25.1 25.6 26.1 26.5 26.5 26.5 26.6 26.8 19.1 2.5 4.0 1.23 . Indirect taxes : : 13.0 12.6 12.4 12.8 13.0 13.3 13.3 13.4 13.3 13.3 13.4 10.2 1.0 1.7 0.44 . Direct taxes : : 12.5 12.9 12.1 12.1 12.3 12.6 12.9 12.8 12.9 12.9 13.1 8.7 1.4 2.2 0.85 . Capital taxes : : 0.3 0.4 0.3 0.2 0.3 0.2 0.3 0.3 0.3 0.3 0.3 0.2 0.1 0.0 0.06 Social contributions : : 12.9 12.9 13.4 13.2 13.2 13.3 13.4 13.3 13.1 13.2 13.3 2.1 0.2 0.1 10.97 Sales (incl. own account capital formation) : : 2.8 2.9 3.1 3.1 3.1 3.1 3.2 3.2 3.1 3.1 3.1 1.1 0.4 1.4 0.28 Other current revenue : : 1.6 1.9 1.9 1.8 1.8 1.9 2.0 1.8 1.7 1.6 1.5 -9.1 1.3 1.6 4.8 3.09 Capital revenue : : 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.1 0.1 -0.5 0.1 0.1 0.4 0.0

10=11+..+18 Total expenditure : : 45.8 46.2 50.0 49.9 48.5 48.9 48.6 47.9 46.9 46.3 45.8 -9.6 24.9 4.7 10.6 15.111 Intermediate consumption : : 5.6 5.8 6.2 6.2 6.0 6.1 6.1 6.1 6.0 5.9 5.7 2.2 0.6 2.6 0.312 Compensation of employees : : 10.5 10.3 11.0 10.8 10.5 10.4 10.4 10.2 10.0 10.0 9.9 4.2 1.6 3.5 0.713 Interest : : 2.7 2.7 2.6 2.7 2.9 2.9 2.7 2.5 2.2 2.1 2.0 -0.1 1.8 0.1 0.1 0.014 Subsidies : : 1.1 1.1 1.3 1.3 1.2 1.2 1.2 1.3 1.3 1.3 1.3 0.8 0.2 0.3 0.115 Social benefits : : 19.2 19.0 21.2 21.1 20.8 21.1 21.3 21.1 20.8 20.9 20.6 4.6 0.8 2.0 13.3

15a of which other than transfers in kind : : 14.9 14.7 16.4 16.3 16.1 16.3 16.5 16.3 16.1 16.0 15.8 4.0 0.5 1.0 10.216 Other current expenditure : : 2.5 2.4 2.6 2.6 2.6 2.6 2.8 2.6 2.6 2.5 2.4 -9.0 9.0 1.0 0.8 0.717 Capital transfers payable : : 1.2 1.4 1.4 1.6 1.2 1.5 1.2 1.1 1.1 0.9 1.1 -0.5 1.2 0.2 0.2 0.018 Capital investments : : 3.2 3.4 3.7 3.5 3.3 3.1 3.0 2.9 2.9 2.7 2.7 1.2 0.3 1.1 0.119 of which, gross fixed capital formation : : 3.2 3.4 3.7 3.5 3.3 3.1 2.9 2.9 2.9 2.7 2.7 1.3 0.3 1.2 0.1

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : : -2.5 -2.5 -6.6 -6.4 -4.6 -4.3 -3.3 -2.9 -2.3 -1.7 -1.0 -1.3 0.0 0.1 0.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -0.1 0.1 0.0 0.0 -0.1 -0.1 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : : -2.4 -2.6 -6.6 -6.4 -4.5 -4.2 -3.3 -2.8 -2.3 -1.6 -1.0 -1.3 0.0 0.1 0.223=24+..+28 Net acquisition of financial assets : : 0.7 3.1 2.0 1.3 0.3 1.7 -0.3 0.3 -0.6 0.4 0.7 -0.2 0.5 -0.1 0.1 0.3

24 Currency and deposits : : 0.3 0.9 0.1 -0.1 0.3 0.3 -0.4 0.4 0.0 0.3 0.5 -0.1 0.4 0.0 0.1 0.225 Debt securities : : 0.2 0.5 0.2 0.8 -0.1 -0.1 -0.2 -0.1 -0.1 0.1 0.0 0.1 0.0 0.0 0.0 0.026 Loans : : 0.1 0.8 0.8 0.5 0.1 0.8 0.3 -0.2 -0.2 0.1 0.0 -0.2 0.2 0.0 0.0 0.027 Shares and other equity : : 0.0 0.7 0.6 0.1 -0.1 0.5 -0.2 -0.1 -0.3 0.0 0.0 0.0 -0.1 0.0 0.0 0.128 Other financial assets : : 0.2 0.2 0.3 0.0 0.1 0.1 0.1 0.3 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.1

29=30+..+33 Net incurrence of liabilities : : 3.2 5.7 8.6 7.7 4.8 5.9 3.0 3.0 1.7 2.0 1.7 -0.2 1.8 -0.1 0.1 0.130 Currency and deposits : : 0.2 0.3 0.1 0.0 0.1 0.1 -0.3 0.2 0.2 0.2 0.1 -0.1 0.2 0.0 0.0 0.031 Debt securities : : 2.6 4.6 7.8 5.1 3.7 3.2 3.2 2.4 1.8 1.9 1.5 0.1 1.4 0.0 0.0 0.032 Loans : : 0.2 0.6 0.5 2.4 0.9 2.3 0.2 0.1 -0.4 -0.2 -0.4 -0.2 -0.1 0.0 -0.1 0.033 Other liabilities : : 0.2 0.2 0.2 0.2 0.2 0.3 0.0 0.3 0.1 0.1 0.5 0.0 0.3 0.0 0.1 0.1

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : : : : : : : : : : : : : : : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : : 2.0 -2.3 1.2 2.2 0.1 1.5 0.6 1.5 0.9 -0.3 0.4 0.0 0.1 0.1 0.1 0.136=50(t)-50(t-1)-29 Other changes in liabilities : : 0.5 -0.4 0.9 0.2 1.1 4.2 -1.6 7.2 0.8 -0.8 -1.7 0.0 -1.5 -0.1 -0.1 -0.1

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 1.5 -2.0 0.4 2.0 -1.0 -2.7 2.2 -5.6 0.1 0.5 2.2 1.7 0.2 0.1 0.2

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : : : :

Government balance sheet 39=40+44 Total assets : : : : : : : : : : : : : : : : : :

40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : : : : : : : : : : :42 Other produced assets : : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : : 29.4 30.7 35.8 37.9 37.2 39.6 39.5 40.0 38.3 38.1 38.2 -4.9 25.4 2.3 7.6 7.845 Currency and deposits : : 4.6 5.6 6.2 5.9 6.1 6.3 5.9 6.2 6.0 6.2 6.5 -0.8 3.4 0.6 1.8 1.546 Debt securities : : 1.5 2.2 2.6 3.5 3.3 3.3 3.2 3.1 3.0 3.1 2.8 -0.6 1.5 0.2 0.2 1.547 Loans : : 3.6 3.8 4.9 5.9 6.0 6.7 7.0 6.8 6.4 6.1 5.9 -2.7 7.0 0.5 0.8 0.248 Shares and other equity : : 13.3 13.0 15.3 15.9 15.2 16.4 16.6 16.7 16.1 16.3 16.5 0.0 9.0 0.9 3.8 2.8

48a of which, Investment fund shares : : 1.2 1.1 1.4 1.5 1.4 1.5 1.6 1.6 1.7 1.9 2.0 : : : :49 Other financial assets : : 6.3 6.0 6.8 6.7 6.6 6.9 7.0 7.1 6.8 6.5 6.5 -0.9 4.5 0.2 0.9 1.8

50=51+..+54 Liabilities : : 71.2 69.6 83.3 87.9 91.3 99.6 100.1 107.0 104.1 104.4 101.5 -4.9 88.1 7.0 7.5 3.851 Currency and deposits : : 3.6 3.2 3.7 3.6 4.0 4.0 3.6 3.8 3.9 3.8 3.8 -0.8 4.5 0.0 0.0 0.052 Debt securities : : 52.0 50.7 62.2 64.9 67.3 72.8 73.7 80.5 78.5 79.5 77.2 -0.6 72.8 3.2 0.5 1.453 Loans : : 10.5 9.9 11.0 13.2 13.7 15.8 16.0 15.7 14.6 14.2 13.4 -2.7 6.8 3.5 5.1 0.754 Other liabilities : : 5.1 5.8 6.4 6.1 6.3 6.9 6.8 7.0 7.0 6.9 7.1 -0.9 4.0 0.3 2.0 1.7

55=44-50 Financial net worth : : -41.8 -38.9 -47.5 -50.0 -54.1 -59.9 -60.6 -67.0 -65.7 -66.3 -63.3 -62.8 -4.6 0.1 4.056=39-50=40+55 : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : -2.5 -2.5 -6.6 -6.4 -4.6 -4.3 -3.3 -2.9 -2.3 -1.7 -1.0 -1.3 0.0 0.1 0.2

58=64(t)-64(t-1) Change in Government Debt : : 3.2 3.6 8.8 8.4 4.8 4.0 2.6 3.6 2.4 -0.4 0.6 -0.2 1.0 -0.1 -0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.7 1.1 2.3 2.0 0.3 -0.3 -0.8 0.7 0.1 -2.1 -0.4 -0.2 -0.3 -0.1 0.0 0.2

60=23-[73a(t)-73a(-1)] Net acquisition of financial assets (igl consolidated) : : : : : : : : : 0.2 -0.5 0.5 0.7 -0.2 0.5 0.0 0.2 0.3

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.3 -0.1 -0.1 -0.5 0.0 -0.3 0.0 -0.1 -0.1

62Valuation effects and other changes in volume in government debt : : : : : : : : : 1.0 0.7 -2.4 -0.6 0.0 -0.5 0.0 : :

62a of which, aggregation effects : : : : : : : : : 0.8 0.9 -2.3 -0.4 0.0 -0.4 0.0 0.0 0.063 Statistical discrepancies : : : : : : : : : -0.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0

64=65+66+69 Government debt (nominal / face value) : 60.1 61.5 60.7 73.3 78.8 81.4 83.8 85.7 86.4 84.4 83.3 81.6 -4.0 71.8 6.4 5.5 2.065 . Currency and deposits : 3.3 2.9 2.7 3.1 3.1 3.5 3.5 3.1 3.4 3.5 3.4 3.3 -0.8 4.1 0.0 0.0 0.0

66=67+68 . Debt securities : 45.4 48.2 48.2 59.3 62.7 64.9 66.1 68.4 69.2 68.1 67.4 66.5 -0.5 62.5 2.9 0.5 1.367 .. short term : 2.8 3.8 5.2 6.9 6.0 6.1 5.5 5.0 5.0 4.6 4.5 4.0 -0.1 3.7 0.1 0.0 0.368 .. long term : 42.6 44.4 43.0 52.3 56.8 58.8 60.6 63.4 64.2 63.5 63.0 62.5 -0.5 58.8 2.8 0.4 1.0

69=70+71 . Loans : 11.4 10.4 9.8 10.9 13.0 13.0 14.2 14.2 13.8 12.9 12.5 11.8 -2.7 5.2 3.5 5.0 0.770 .. short term : 1.0 1.2 1.3 1.2 2.5 2.2 1.8 1.6 1.6 1.5 1.4 1.3 -0.3 0.8 0.2 0.3 0.371 .. long term : 10.4 9.2 8.5 9.7 10.5 10.8 12.4 12.6 12.2 11.4 11.1 10.5 -2.4 4.4 3.3 4.7 0.4

72Intergovernmental lending (asset - not consolidated)* : : : : 0.0 0.2 0.5 1.5 1.7 1.7 1.6 1.6 1.5 : : : :

73Intergovernmental lending (borrowing- not consolidated)* : : : : 0.0 0.2 0.5 1.5 1.7 1.7 1.6 1.6 1.5 : : : :

74=45+46+48a Government liquid assets : : 7.3 8.9 10.2 10.9 10.8 11.1 10.6 11.0 10.7 11.1 11.4 : : : :

Table C - Memorandum items75 Government final consumption expenditure : : 20.0 20.1 21.7 21.4 21.0 21.0 21.0 20.8 20.4 20.3 20.1 7.0 2.3 6.8 4.076 Consumption of fixed capital : : 2.3 2.4 2.6 2.6 2.6 2.6 2.6 2.6 2.5 2.5 2.5 1.1 0.3 1.1 0.1

77=20+18-76 Net savings and capital transfers : : -1.7 -1.5 -5.4 -5.5 -3.9 -3.8 -3.0 -2.6 -2.0 -1.5 -0.8 -1.1 0.0 0.1 0.278 GDP

79Government employment (in thousands of persons)


S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


EU-28

Consolidated general government (S.13)annual growth rates**

Table A - Summary table 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Government revenue and expenditure1=2+6+7+8+9 2.3 1.6 4.8 5.5 6.4 6.3 0.5 -6.4 4.3 4.1 3.5 2.3 2.8 4.5 0.8 3.3

2=3+4+5 1.9 1.0 5.2 5.9 7.6 6.9 -1.3 -9.4 5.2 4.7 4.2 2.3 3.5 5.4 1.1 3.63 3.9 1.6 4.9 4.8 6.2 5.6 -2.5 -6.7 7.2 4.7 3.8 1.4 4.0 5.0 0.7 3.04 -0.2 -0.9 6.0 7.5 9.3 8.1 -1.7 -11.4 4.0 4.3 5.0 2.8 3.3 5.7 1.3 4.35 10.4 62.2 -12.8 -14.9 -4.1 7.8 83.5 -30.1 -26.4 20.4 -14.4 25.8 -6.0 12.4 11.2 -3.96 3.1 3.1 3.8 3.6 4.5 4.9 2.9 -2.1 2.5 3.2 2.5 1.4 2.6 3.7 2.2 3.57 4.9 2.0 7.3 6.7 6.0 6.8 3.1 1.6 5.6 2.5 1.9 2.6 2.8 3.6 0.4 2.38 -3.0 -5.6 5.1 6.0 10.8 7.8 9.8 -5.6 1.0 5.1 3.1 9.4 -6.2 -4.0 -5.7 0.29 13.4 42.7 -9.1 55.7 -26.5 0.9 -22.4 -5.5 24.4 15.1 13.4 4.7 9.9 16.7 -48.1 0.5

10=11+..+18 4.7 2.9 4.0 4.6 4.3 4.5 4.1 2.0 3.8 0.2 2.7 0.3 2.0 3.3 -0.6 1.711 7.1 2.4 6.9 6.5 6.0 6.3 3.8 1.8 3.4 0.3 2.4 1.3 3.1 4.1 -1.5 0.712 5.2 3.2 4.5 4.7 4.3 3.8 2.3 0.9 2.6 0.2 1.1 0.1 2.1 3.2 0.5 2.013 -4.2 -4.6 -0.7 1.4 2.1 8.1 2.8 -9.2 7.9 11.1 1.1 -5.4 -4.2 -6.1 -5.4 -1.914 3.5 -0.4 -1.4 0.5 7.0 5.8 2.6 11.8 2.8 -1.8 0.5 1.9 9.7 6.3 1.1 2.615 5.5 3.5 4.2 3.8 4.2 4.0 3.3 4.7 3.8 1.5 3.4 1.8 2.8 3.8 1.0 1.7

15a 5.1 3.2 4.2 3.6 3.5 4.0 3.1 4.9 3.8 1.4 3.7 1.7 2.5 3.7 0.4 1.416 6.1 4.9 4.0 8.7 4.0 3.7 3.1 -0.3 6.0 0.0 4.3 7.5 -2.2 2.2 -0.3 -2.317 3.8 3.9 2.9 4.7 4.3 -5.3 32.6 -8.9 23.2 -24.7 29.7 -22.2 -2.9 5.1 -14.4 19.918 3.7 6.4 3.8 8.0 3.9 8.3 7.6 2.9 -2.5 -3.8 -4.2 -2.5 1.2 5.5 -6.8 3.419 2.4 7.1 4.2 8.3 5.3 7.4 6.6 2.3 -1.2 -4.3 -4.5 -2.8 2.3 5.2 -6.1 4.0

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : 2.8 2.0 2.8 10.5 6.1 3.7 0.8 4.6 -0.8 0.7 -1.5 1.1 1.8

24 : : : 6.8 10.0 7.8 19.3 2.4 -2.2 5.7 4.7 -6.2 6.2 -0.4 4.7 8.925 : : : 15.8 15.3 14.6 31.7 9.2 31.9 -3.4 -2.1 -6.0 -4.5 -2.6 1.8 -1.326 : : : 1.7 -2.4 2.2 25.6 18.5 11.2 1.4 13.8 4.8 -2.3 -2.7 1.1 0.527 : : : -0.3 -1.8 -0.4 4.8 4.5 0.6 -0.7 3.6 -1.1 -0.5 -1.6 0.2 0.128 : : : 3.7 3.6 3.5 2.7 3.9 -0.2 1.5 1.6 2.1 4.0 -0.5 -0.5 2.2

29=30+..+33 : : : 4.7 3.2 2.6 8.9 11.6 9.6 5.6 6.5 3.0 3.1 1.7 2.0 1.630 : : : 7.3 4.5 0.6 8.4 3.3 -0.5 2.3 1.3 -8.2 7.1 5.0 4.5 2.331 : : : 5.2 2.7 2.9 10.0 14.5 8.5 5.8 4.8 4.4 3.4 2.4 2.5 1.932 : : : 1.9 2.2 0.1 5.9 4.5 22.7 6.7 17.5 1.0 0.3 -2.5 -1.2 -2.833 : : : 4.1 9.1 6.2 4.4 2.7 3.7 3.0 4.8 -0.5 5.0 1.8 1.2 7.0

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 : : : : : : : : : : : : : : : :

35=44(t)-44(t-1)-23 : : : 7.4 5.1 4.2 -7.8 3.8 6.4 0.3 4.1 1.4 4.1 2.4 -0.7 1.236=50(t)-50(t-1)-29 : : : 0.8 -1.9 -2.2 -0.6 1.2 0.3 1.3 4.7 -1.6 7.4 0.8 -0.7 -1.7

37=35-36 = 55(t)-55(t-1)-22 : : : -3.6 -6.8 -7.1 5.7 -0.9 -4.3 2.0 5.2 -3.6 9.6 -0.2 -0.7 -3.4

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :

Government balance sheet 39=40+44 : : : : : : : : : : : : : : : :

40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : 10.3 7.2 7.0 2.7 9.9 10.2 1.0 8.7 0.7 4.7 0.9 0.3 3.045 : : : 7.2 9.9 8.0 15.2 4.9 -0.9 6.4 5.4 -5.6 9.5 1.3 3.7 8.546 : : : 14.1 11.7 11.7 30.6 12.0 38.0 -3.5 1.4 -2.8 3.0 0.6 3.1 -4.847 : : : 1.7 -1.7 0.5 20.6 19.5 25.0 5.3 14.1 4.9 0.9 -1.0 -3.8 -1.248 : : : 16.4 9.1 9.4 -7.7 10.3 8.5 -1.9 10.7 1.5 4.7 1.3 2.1 3.9

48a : : : 27.7 13.4 11.0 -16.0 19.8 10.2 -2.7 11.9 4.5 7.5 7.7 16.5 7.849 : : : 5.0 5.2 3.1 -0.4 6.9 2.5 1.9 5.8 1.9 5.3 1.8 -3.9 3.0

50=51+..+54 : : : 5.5 1.3 0.5 8.3 12.8 9.9 6.9 11.3 1.4 10.6 2.5 1.2 -0.151 : : : 8.0 5.3 -2.2 0.0 7.5 2.1 12.6 2.1 -8.9 10.5 7.6 -0.9 1.052 : : : 6.3 0.2 0.0 9.6 15.7 8.7 6.8 10.3 2.0 13.0 2.9 2.1 -0.153 : : : 2.9 2.2 -0.3 4.2 5.0 25.3 6.1 18.1 2.2 1.3 -1.8 -2.1 -2.954 : : : 2.0 8.1 8.0 9.6 3.4 -0.3 6.2 12.4 -0.6 5.7 5.3 -0.4 5.8

55=44-50 : : : 2.4 -2.8 -4.6 13.2 15.0 9.7 11.3 13.0 1.9 14.4 3.5 1.7 -1.856=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -4.5 -5.5 -5.0 -4.3 -2.8 -1.6 -4.4 -10.2 -9.1 -6.0 -5.3 -4.0 -3.5 -2.9 -2.0 -1.2

58=64(t)-64(t-1) 2.8 4.1 6.0 5.5 3.4 1.4 6.3 13.7 12.0 6.3 5.0 3.1 4.4 3.0 -0.5 0.859 = 57+58 = 60+..+63 -1.7 -1.4 1.0 1.1 0.6 -0.2 1.9 3.5 2.9 0.3 -0.3 -0.9 0.9 0.1 -2.5 -0.4

60=23-[73a(t)-73a(-1)] : : : : : : : : : : : : 0.2 -0.6 0.5 0.9

61=(-)33 : : : : : : : : : : : : -0.4 -0.1 -0.1 -0.662 : : : : : : : : : : : : 1.2 0.9 -2.8 -0.7

62a : : : : : : : : : : : : 0.9 1.1 -2.7 -0.563 : : : : : : : : : : : : -0.1 -0.1 -0.1 0.0

64=65+66+69 2.8 4.1 6.0 5.5 3.4 1.4 6.3 13.7 12.0 6.3 5.0 3.1 4.4 3.0 -0.5 0.865 -1.4 -14.6 6.6 11.1 7.6 -3.6 1.4 8.8 2.6 15.8 2.8 -10.2 12.1 8.6 -1.0 1.1

66=67+68 3.9 4.9 6.7 5.8 3.4 2.1 7.0 15.8 10.3 6.5 3.9 4.3 4.8 3.6 -0.1 1.567 23.5 8.7 2.4 -3.3 -10.2 6.1 64.4 24.9 -9.9 4.9 -7.4 -8.7 2.8 -2.7 -2.4 -6.768 2.4 4.6 7.1 6.6 4.5 1.8 2.7 14.7 12.9 6.7 5.0 5.5 4.9 4.1 0.0 2.0

69=70+71 -0.6 6.3 2.7 2.6 2.0 -0.2 4.1 5.1 23.9 3.1 11.4 0.6 0.7 -1.6 -2.4 -3.170 9.5 14.9 8.4 5.1 2.4 8.3 9.8 -14.0 119.3 -10.5 -15.0 -14.0 4.9 -2.2 -2.8 -5.771 -1.6 5.4 2.1 2.3 2.0 -1.4 3.2 8.0 12.1 6.4 16.8 2.8 0.2 -1.5 -2.3 -2.872 : : : : : : : : 2220.1 229.4 181.2 20.1 4.2 -3.8 -0.3 -0.5

73 : : : : : : : : 2220.1 229.4 181.2 20.1 4.2 -3.8 -0.3 -0.574=45+46+48a : : : 11.4 10.8 9.3 13.4 8.5 10.7 2.0 5.0 -3.4 7.3 2.0 5.5 4.7

Table C - Memorandum items75 6.0 3.5 4.7 4.9 5.1 4.3 3.3 1.7 2.9 0.7 1.9 0.8 2.6 3.6 0.5 1.776 4.2 3.4 4.6 5.4 5.5 5.4 4.4 0.8 4.4 3.3 3.5 1.4 1.9 2.2 0.1 2.0

77=20+18-7678 3.7 1.5 5.0 4.5 5.8 6.0 0.6 -5.8 4.2 2.9 2.0 0.8 3.5 5.4 0.9 2.8

79 : : : : : : : : : : : : : : : :

(**) or contributions for items 22 to 38


EA-19



Government revenue and expenditure1=2+6+7+8+9 Total revenue 2,610,253 3,197,039 3,732,604 4,283,403 4,133,917 4,236,635 4,410,184 4,536,474

2=3+4+5 Taxes 1,351,671 1,794,329 2,075,516 2,392,020 2,238,561 2,301,499 2,408,508 2,498,8423 . Indirect taxes 694,386 905,423 1,081,104 1,186,075 1,141,207 1,187,348 1,233,543 1,268,6514 . Direct taxes 642,409 871,461 969,975 1,181,909 1,063,283 1,088,849 1,144,181 1,204,8155 . Capital taxes 14,876 17,445 24,437 24,036 34,070 25,303 30,783 25,3766 Social contributions 952,636 1,072,744 1,256,903 1,417,469 1,414,988 1,440,360 1,483,936 1,510,1097 Sales (incl . own account capital formation) 160,265 188,894 235,532 273,619 285,413 299,921 311,144 317,0758 Other current revenue 130,030 125,650 144,287 187,456 184,076 183,722 193,927 193,7279 Capital revenue 15,651 15,422 20,367 12,839 10,880 11,132 12,669 16,721

10=11+..+18 Total expenditure 3,032,730 3,234,298 3,954,682 4,492,060 4,713,350 4,829,101 4,826,444 4,898,45711 Intermediate consumption 263,605 315,213 409,380 477,088 504,120 515,774 520,755 523,23212 Compensation of employees 610,567 715,945 869,168 972,419 1,008,545 1,019,406 1,023,254 1,019,33113 Interest 302,028 267,546 247,835 284,285 262,984 265,331 294,669 298,08614 Subsidies 95,537 98,787 99,995 115,475 134,106 136,800 133,625 132,18515 Social benefits 1,212,991 1,420,800 1,751,799 1,972,837 2,101,536 2,153,837 2,182,978 2,231,616

15a of which other than transfers in kind 937,390 1,088,034 1,331,037 1,481,678 1,581,757 1,619,851 1,640,260 1,680,74616 Other current expenditure 122,487 157,024 195,992 225,346 228,605 236,214 238,077 245,41817 Capital transfers payable 236,578 88,714 113,696 121,879 130,347 178,052 125,322 157,10818 Capital investments 188,937 170,270 266,817 322,732 343,106 323,686 307,764 291,48119 of which, gross fixed capital formation 187,530 220,408 266,314 321,218 338,764 324,974 306,489 287,898

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -422,476 -37,259 -222,077 -208,657 -579,432 -592,466 -416,260 -361,983


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -5,479 1,075 -944 -1,638 -5,879 -974

22=23-29 Net financial transactions : : -216,598 -209,732 -578,488 -590,828 -410,382 -361,00923=24+..+28 Net acquisition of financial assets : : 70,232 303,753 176,580 154,320 25,496 206,429

24 Currency and deposits : : 28,110 71,339 30,151 1,806 19,979 30,79225 Debt securities : : 16,628 70,226 25,125 90,238 -24,092 -8,82526 Loans : : 56 73,943 63,155 54,928 10,207 99,95527 Shares and other equity : : 10,414 78,971 37,466 18,000 -12,219 70,52628 Other financial assets : : 15,021 9,275 20,684 -10,655 31,620 13,979

29=30+..+33 Net incurrence of liabilities : : 286,830 513,486 755,068 745,148 435,878 567,43830 Currency and deposits : : 21,416 9,103 5,844 3,277 316 8,94131 Debt securities : : 223,745 438,101 672,464 413,456 315,433 254,11432 Loans : : 20,688 49,585 63,460 299,699 100,468 318,06433 Other liabilities : : 20,976 16,695 13,299 28,714 19,660 -13,681


35=44(t)-44(t-1)-23 Other changes in financial assets : : 153,293 -186,156 85,292 105,373 -6,040 115,45536=50(t)-50(t-1)-29 Other changes in liabilities : : 38,594 162,474 46,995 -120,240 -79,124 507,959

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 114,698 -348,630 38,297 225,614 73,084 -392,504

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 2,512,960 3,012,866 3,274,738 3,534,431 3,553,887 3,875,77145 Currency and deposits : : 436,047 549,041 593,873 594,001 615,117 649,80446 Debt securities : : 108,803 215,241 246,588 340,822 313,648 318,02047 Loans : : 322,084 382,250 443,599 503,280 537,407 632,85648 Shares and other equity : : 1,096,130 1,258,271 1,359,900 1,463,924 1,432,935 1,586,942


50=51+..+54 Liabilities : : 6,710,499 7,454,934 8,256,997 8,881,904 9,238,658 10,314,05651 Currency and deposits : : 276,002 289,950 304,493 309,163 352,496 361,67952 Debt securities : : 4,950,269 5,510,779 6,221,190 6,494,543 6,687,787 7,380,64753 Loans : : 1,068,137 1,138,189 1,201,735 1,528,258 1,615,597 1,939,56754 Other liabilities : : 416,093 516,015 529,579 549,940 582,780 632,162

55=44-50 Financial net worth : : -4,197,539 -4,442,068 -4,982,260 -5,347,474 -5,684,771 -6,438,28556=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -422,475 -37,260 -222,077 -208,657 -579,432 -592,466 -416,260 -361,983

58=64(t)-64(t-1) Change in Government Debt : : 266,980 513,305 737,104 715,171 416,489 333,11759 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 44,903 304,648 157,672 122,705 229 -28,866

60=23-[73a(t)-73a(-1)] Net acquisition of financial assets (igl consolidated) : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : :62 Valuation effects and other changes in volume in government debt : : : : : : : :

62a of which, aggregation effects : : : : : : : :63 Statistical discrepancies : : : : : : : :

64=65+66+69 Government debt (nominal / face value) : 4,791,765 5,860,761 6,626,523 7,363,627 8,078,798 8,495,287 8,828,40465 . Currency and deposits : 188,840 199,916 219,425 232,995 238,051 285,137 295,888

66=67+68 . Debt securities : 3,635,396 4,598,606 5,278,650 5,937,614 6,342,182 6,676,151 6,801,64267 .. short term : 218,184 341,135 602,905 744,059 655,976 676,979 630,02768 .. long term : 3,417,211 4,257,471 4,675,745 5,193,556 5,686,205 5,999,172 6,171,615

69=70+71 . Loans : 967,531 1,062,240 1,128,448 1,193,019 1,498,564 1,534,001 1,730,87570 .. short term : 52,228 84,342 118,988 116,287 296,968 255,203 216,27071 .. long term : 915,303 977,898 1,009,458 1,076,733 1,201,595 1,278,797 1,514,60572 Intergovernmental lending (asset - not consolidated)* : : : : 914 21,196 69,349 193,427

73 Intergovernmental lending (borrowing- not consolidated)* : : : : 778 21,072 69,717 196,29774=45+46+48a Government liquid assets : : 673,310 899,787 1,001,833 1,111,358 1,097,453 1,152,404

Table C - Memorandum items75 Government final consumption expenditure 1,142,484 1,356,164 1,689,227 1,928,264 2,013,497 2,043,582 2,058,158 2,066,76276 Consumption of fixed capital 149,368 170,799 210,677 245,327 251,551 259,590 267,130 274,397

77=20+18-76 Net savings and capital transfers -382,906 -37,788 -165,937 -131,252 -487,877 -528,369 -375,627 -344,90078 GDP 5,744,694 7,030,321 8,460,751 9,640,650 9,296,219 9,552,204 9,805,604 9,846,766

79 Government employment (in thousands of persons) : 22,672 23,331 23,735 23,838 23,874 23,589 23,297



EA-19



Government revenue and expenditure1=2+6+7+8+9 4,648,971 4,747,933 4,868,362 4,978,268 5,162,349 -1,096,855 2,279,254 725,620 1,093,088 2,161,242

2=3+4+5 2,570,614 2,634,687 2,724,252 2,796,233 2,920,110 1,922,183 379,039 438,313 180,5763 1,289,089 1,332,764 1,370,693 1,399,060 1,450,964 995,529 147,776 246,860 60,7994 1,249,550 1,272,031 1,320,762 1,359,577 1,433,582 905,868 219,560 188,383 119,7715 31,975 29,891 32,798 37,596 35,564 20,786 11,703 3,070 66 1,535,743 1,568,579 1,602,686 1,649,922 1,706,901 110,425 31,560 10,579 1,554,3367 326,438 333,305 340,142 347,152 355,840 111,224 61,350 157,795 25,4728 197,303 192,748 181,017 173,161 170,598 -1,047,885 127,060 241,280 445,836 404,3089 18,873 18,614 20,264 11,800 8,900 -48,970 8,364 12,391 40,565 -3,450

10=11+..+18 4,953,487 5,000,441 5,083,855 5,146,789 5,270,336 -1,096,855 2,427,794 720,876 1,073,056 2,145,46511 531,420 539,117 550,855 560,733 574,773 171,117 90,464 265,707 47,48512 1,030,489 1,042,690 1,056,654 1,077,024 1,100,661 423,843 241,474 334,181 101,16213 279,582 265,008 245,253 230,830 221,806 -4,918 192,031 18,935 11,022 4,73714 136,019 150,854 159,164 161,078 163,448 96,504 23,782 35,924 7,23815 2,286,518 2,338,958 2,393,322 2,457,272 2,519,398 318,190 122,157 176,457 1,902,593

15a 1,719,957 1,754,514 1,791,263 1,830,461 1,872,481 272,217 78,391 71,841 1,450,03216 269,961 265,259 267,943 275,128 268,202 -1,042,967 984,723 150,691 102,299 73,45617 133,246 121,411 124,516 106,119 135,075 -48,970 127,510 30,787 25,470 27818 286,253 277,143 286,149 278,603 286,974 113,876 42,585 121,996 8,51719 281,346 275,942 283,998 278,117 290,767 117,330 42,381 122,488 8,568

Government deficit

20=1-10 -304,516 -252,509 -215,493 -168,521 -107,987 -148,540 4,745 20,032 15,777


21=20-22 -153 -5,271 -5,465 -9,096 3,377 2,995 1,186 -660 -137

22=23-29 -304,364 -247,237 -210,028 -159,425 -111,364 -151,535 3,558 20,691 15,91423=24+..+28 -20,669 -9,163 -66,420 25,219 58,594 -27,600 41,565 -13,022 12,510 45,141

24 -53,492 23,674 16,939 32,196 53,529 -8,569 29,462 -3,494 13,550 22,58025 -21,470 -27,309 -34,835 -2,189 -17,716 9,565 -9,796 -5,424 -858 -11,20226 22,668 -37,831 -30,327 -11,424 -3,428 -29,214 28,936 -2,071 -605 -47327 11,902 -1,750 -13,315 15,134 10,474 -6 -6,953 -304 1,034 16,70228 19,727 34,048 -4,884 -8,495 15,734 620 -83 -1,730 -607 17,534

29=30+..+33 283,695 238,075 143,607 184,644 169,959 -27,606 193,100 -16,581 -8,181 29,22730 -33,055 11,009 11,336 1,810 -2,881 -8,570 5,690 0 0 031 309,403 225,832 173,217 198,934 172,730 9,566 163,704 -6,719 1,979 4,20132 15,904 -6,227 -61,095 -26,468 -66,774 -29,216 -20,149 -7,379 -14,122 4,09333 -8,558 7,458 20,153 10,369 66,884 622 43,851 -2,483 3,960 20,934


35=44(t)-44(t-1)-23 99,157 146,694 61,918 39,465 70,410 -3,032 32,994 17,142 11,423 11,88236=50(t)-50(t-1)-29 -48,279 624,715 -14,690 66,927 -149,490 -3,028 -121,623 -9,523 -1,254 -14,063

37=35-36 = 55(t)-55(t-1)-22 147,436 -478,021 76,608 -27,463 219,900 154,617 26,665 12,677 25,945

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 : : : : : : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 3,954,259 4,091,790 4,087,288 4,151,972 4,280,976 -598,015 2,766,191 358,502 739,424 1,014,87445 609,537 658,803 683,046 716,696 772,445 -105,271 360,109 91,289 208,972 217,34646 315,297 314,076 288,181 292,974 269,692 -70,686 116,968 27,831 16,868 178,71047 662,598 643,434 612,987 586,608 581,737 -329,623 750,093 83,163 54,691 23,41348 1,657,087 1,737,710 1,772,850 1,846,496 1,926,727 -860 1,109,768 133,097 355,767 328,955

48a 193,805 206,953 224,465 263,436 285,782 : : : :49 709,740 737,768 730,224 709,195 730,376 -91,573 429,254 23,123 103,124 266,448

50=51+..+54 10,549,472 11,412,262 11,541,180 11,792,751 11,813,219 -598,019 9,989,169 1,069,579 823,979 528,51251 328,424 344,104 358,030 359,869 356,553 -105,272 461,825 0 0 052 7,604,351 8,417,781 8,560,579 8,830,149 8,863,391 -70,686 8,189,927 488,721 47,436 207,99353 1,985,366 1,999,088 1,949,707 1,913,868 1,843,955 -329,626 923,738 541,555 601,813 106,47554 631,330 651,288 672,864 688,864 749,321 -92,434 413,681 39,303 174,729 214,043

55=44-50 -6,595,213 -7,320,472 -7,453,892 -7,640,779 -7,532,243 -7,222,978 -711,077 -84,555 486,36356=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -304,516 -252,509 -215,494 -168,521 -107,985 -148,539 4,745 20,033 15,777

58=64(t)-64(t-1) 275,464 236,115 127,495 175,791 88,252 -29,694 137,503 -15,709 -12,385 8,53859 = 57+58 = 60+..+63 -29,053 -16,394 -87,999 7,270 -19,733 -29,695 -11,036 -10,964 7,647 24,315

60=23-[73a(t)-73a(-1)] : -17,849 -53,388 31,819 65,160 -27,635 42,251 -7,683 14,834 43,394

61=(-)33 : -6,857 -16,113 -11,449 -65,824 -621 -43,390 2,482 -3,656 -20,639

62 : 16,965 -7,237 979 -15,157 -1,521 -12,074 -1,562 : :

62a : -2 1 -2 -1 1 -1 0 0 -163 : -8,656 -11,260 -14,080 -3,914 77 2,177 -4,201 -3,295 1,327

64=65+66+69 9,103,868 9,339,983 9,467,478 9,643,269 9,731,521 -500,261 8,309,225 979,772 644,034 298,75165 262,691 278,219 291,896 293,662 290,318 -105,080 395,398 0 0 0

66=67+68 7,098,131 7,318,581 7,473,618 7,684,803 7,844,716 -66,096 7,234,412 438,811 45,129 192,46067 597,601 573,676 524,454 521,194 494,539 -8,134 440,306 15,272 3,826 43,26868 6,500,529 6,744,906 6,949,164 7,163,608 7,350,178 -57,961 6,794,106 423,539 41,302 149,192

69=70+71 1,743,044 1,743,181 1,701,964 1,664,804 1,596,487 -329,087 679,417 540,962 598,904 106,29170 180,406 178,986 171,240 168,134 147,227 -48,172 86,347 26,851 40,966 41,23571 1,562,639 1,564,195 1,530,725 1,496,671 1,449,261 -280,913 593,069 514,111 557,938 65,055

72 231,004 240,542 230,976 230,961 230,947 : : : :

73 235,785 245,609 236,306 235,678 234,544 : : : :74=45+46+48a 1,118,639 1,179,832 1,195,692 1,273,107 1,327,919 : : : :

Table C - Memorandum items75 2,098,781 2,132,558 2,172,511 2,223,486 2,279,766 658,208 353,225 676,725 591,60876 279,423 282,636 284,662 287,986 294,945 117,016 40,137 127,514 10,278

77=20+18-76 -297,687 -258,001 -214,007 -177,904 -115,957 -151,679 7,193 14,514 14,01578 9,944,030 10,175,138 10,534,213 10,827,487 11,205,802

79 23,225 23,247 23,293 23,399 :

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Government revenue and expenditure1=2+6+7+8+9 Total revenue 45.4 45.5 44.1 44.4 44.5 44.4 45.0 46.1 46.8 46.7 46.2 46.0 46.1 -9.8 20.3 6.5 9.8 19.3

2=3+4+5 Taxes 23.5 25.5 24.5 24.8 24.1 24.1 24.6 25.4 25.9 25.9 25.9 25.8 26.1 17.2 3.4 3.9 1.63 . Indirect taxes 12.1 12.9 12.8 12.3 12.3 12.4 12.6 12.9 13.0 13.1 13.0 12.9 12.9 8.9 1.3 2.2 0.54 . Direct taxes 11.2 12.4 11.5 12.3 11.4 11.4 11.7 12.2 12.6 12.5 12.5 12.6 12.8 8.1 2.0 1.7 1.15 . Capital taxes 0.3 0.2 0.3 0.2 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.1 0.0 0.06 Social contributions 16.6 15.3 14.9 14.7 15.2 15.1 15.1 15.3 15.4 15.4 15.2 15.2 15.2 1.0 0.3 0.1 13.97 Sales (incl. own account capital formation) 2.8 2.7 2.8 2.8 3.1 3.1 3.2 3.2 3.3 3.3 3.2 3.2 3.2 1.0 0.5 1.4 0.28 Other current revenue 2.3 1.8 1.7 1.9 2.0 1.9 2.0 2.0 2.0 1.9 1.7 1.6 1.5 -9.4 1.1 2.2 4.0 3.69 Capital revenue 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.1 0.1 -0.4 0.1 0.1 0.4 0.0

10=11+..+18 Total expenditure 52.8 46.0 46.7 46.6 50.7 50.6 49.2 49.7 49.8 49.1 48.3 47.5 47.0 -9.8 21.7 6.4 9.6 19.111 Intermediate consumption 4.6 4.5 4.8 4.9 5.4 5.4 5.3 5.3 5.3 5.3 5.2 5.2 5.1 1.5 0.8 2.4 0.412 Compensation of employees 10.6 10.2 10.3 10.1 10.8 10.7 10.4 10.4 10.4 10.2 10.0 9.9 9.8 3.8 2.2 3.0 0.913 Interest 5.3 3.8 2.9 2.9 2.8 2.8 3.0 3.0 2.8 2.6 2.3 2.1 2.0 0.0 1.7 0.2 0.1 0.014 Subsidies 1.7 1.4 1.2 1.2 1.4 1.4 1.4 1.3 1.4 1.5 1.5 1.5 1.5 0.9 0.2 0.3 0.115 Social benefits 21.1 20.2 20.7 20.5 22.6 22.5 22.3 22.7 23.0 23.0 22.7 22.7 22.5 2.8 1.1 1.6 17.0

15a of which other than transfers in kind 16.3 15.5 15.7 15.4 17.0 17.0 16.7 17.1 17.3 17.2 17.0 16.9 16.7 2.4 0.7 0.6 12.916 Other current expenditure 2.1 2.2 2.3 2.3 2.5 2.5 2.4 2.5 2.7 2.6 2.5 2.5 2.4 -9.3 8.8 1.3 0.9 0.717 Capital transfers payable 4.1 1.3 1.3 1.3 1.4 1.9 1.3 1.6 1.3 1.2 1.2 1.0 1.2 -0.4 1.1 0.3 0.2 0.018 Capital investments 3.3 2.4 3.2 3.3 3.7 3.4 3.1 3.0 2.9 2.7 2.7 2.6 2.6 1.0 0.4 1.1 0.119 of which, gross fixed capital formation 3.3 3.1 3.1 3.3 3.6 3.4 3.1 2.9 2.8 2.7 2.7 2.6 2.6 1.0 0.4 1.1 0.1

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -7.4 -0.5 -2.6 -2.2 -6.2 -6.2 -4.2 -3.7 -3.1 -2.5 -2.0 -1.6 -1.0 -1.3 0.0 0.2 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -0.1 0.0 0.0 0.0 -0.1 0.0 0.0 -0.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : : -2.6 -2.2 -6.2 -6.2 -4.2 -3.7 -3.1 -2.4 -2.0 -1.5 -1.0 -1.4 0.0 0.2 0.123=24+..+28 Net acquisition of financial assets : : 0.8 3.2 1.9 1.6 0.3 2.1 -0.2 -0.1 -0.6 0.2 0.5 -0.2 0.4 -0.1 0.1 0.4

24 Currency and deposits : : 0.3 0.7 0.3 0.0 0.2 0.3 -0.5 0.2 0.2 0.3 0.5 -0.1 0.3 0.0 0.1 0.225 Debt securities : : 0.2 0.7 0.3 0.9 -0.2 -0.1 -0.2 -0.3 -0.3 0.0 -0.2 0.1 -0.1 0.0 0.0 -0.126 Loans : : 0.0 0.8 0.7 0.6 0.1 1.0 0.2 -0.4 -0.3 -0.1 0.0 -0.3 0.3 0.0 0.0 0.027 Shares and other equity : : 0.1 0.8 0.4 0.2 -0.1 0.7 0.1 0.0 -0.1 0.1 0.1 0.0 -0.1 0.0 0.0 0.128 Other financial assets : : 0.2 0.1 0.2 -0.1 0.3 0.1 0.2 0.3 0.0 -0.1 0.1 0.0 0.0 0.0 0.0 0.2

29=30+..+33 Net incurrence of liabilities : : 3.4 5.3 8.1 7.8 4.4 5.8 2.9 2.3 1.4 1.7 1.5 -0.2 1.7 -0.1 -0.1 0.330 Currency and deposits : : 0.3 0.1 0.1 0.0 0.0 0.1 -0.3 0.1 0.1 0.0 0.0 -0.1 0.1 0.0 0.0 0.031 Debt securities : : 2.6 4.5 7.2 4.3 3.2 2.6 3.1 2.2 1.6 1.8 1.5 0.1 1.5 -0.1 0.0 0.032 Loans : : 0.2 0.5 0.7 3.1 1.0 3.2 0.2 -0.1 -0.6 -0.2 -0.6 -0.3 -0.2 -0.1 -0.1 0.033 Other liabilities : : 0.2 0.2 0.1 0.3 0.2 -0.1 -0.1 0.1 0.2 0.1 0.6 0.0 0.4 0.0 0.0 0.2


35=44(t)-44(t-1)-23 Other changes in financial assets : : 1.8 -1.9 0.9 1.1 -0.1 1.2 1.0 1.4 0.6 0.4 0.6 0.0 0.3 0.2 0.1 0.136=50(t)-50(t-1)-29 Other changes in liabilities : : 0.5 1.7 0.5 -1.3 -0.8 5.2 -0.5 6.1 -0.1 0.6 -1.3 0.0 -1.1 -0.1 0.0 -0.1

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 1.4 -3.6 0.4 2.4 0.7 -4.0 1.5 -4.7 0.7 -0.3 2.0 1.4 0.2 0.1 0.2

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 29.7 31.3 35.2 37.0 36.2 39.4 39.8 40.2 38.8 38.3 38.2 -5.3 24.7 3.2 6.6 9.145 Currency and deposits : : 5.2 5.7 6.4 6.2 6.3 6.6 6.1 6.5 6.5 6.6 6.9 -0.9 3.2 0.8 1.9 1.946 Debt securities : : 1.3 2.2 2.7 3.6 3.2 3.2 3.2 3.1 2.7 2.7 2.4 -0.6 1.0 0.2 0.2 1.647 Loans : : 3.8 4.0 4.8 5.3 5.5 6.4 6.7 6.3 5.8 5.4 5.2 -2.9 6.7 0.7 0.5 0.248 Shares and other equity : : 13.0 13.1 14.6 15.3 14.6 16.1 16.7 17.1 16.8 17.1 17.2 0.0 9.9 1.2 3.2 2.9

48a of which, Investment fund shares : : 1.5 1.4 1.7 1.8 1.7 1.9 1.9 2.0 2.1 2.4 2.6 : : : :49 Other financial assets : : 6.5 6.3 6.8 6.6 6.7 7.0 7.1 7.3 6.9 6.5 6.5 -0.8 3.8 0.2 0.9 2.4

50=51+..+54 Liabilities : : 79.3 77.3 88.8 93.0 94.2 104.7 106.1 112.2 109.6 108.9 105.4 -5.3 89.1 9.5 7.4 4.751 Currency and deposits : : 3.3 3.0 3.3 3.2 3.6 3.7 3.3 3.4 3.4 3.3 3.2 -0.9 4.1 0.0 0.0 0.052 Debt securities : : 58.5 57.2 66.9 68.0 68.2 75.0 76.5 82.7 81.3 81.6 79.1 -0.6 73.1 4.4 0.4 1.953 Loans : : 12.6 11.8 12.9 16.0 16.5 19.7 20.0 19.6 18.5 17.7 16.5 -2.9 8.2 4.8 5.4 1.054 Other liabilities : : 4.9 5.4 5.7 5.8 5.9 6.4 6.3 6.4 6.4 6.4 6.7 -0.8 3.7 0.4 1.6 1.9

55=44-50 Financial net worth : : -49.6 -46.1 -53.6 -56.0 -58.0 -65.4 -66.3 -71.9 -70.8 -70.6 -67.2 -64.5 -6.3 -0.8 4.356=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -7.4 -0.5 -2.6 -2.2 -6.2 -6.2 -4.2 -3.7 -3.1 -2.5 -2.0 -1.6 -1.0 -1.3 0.0 0.2 0.1

58=64(t)-64(t-1) Change in Government Debt : : 3.2 5.3 7.9 7.5 4.2 3.4 2.8 2.3 1.2 1.6 0.8 -0.3 1.2 -0.1 -0.1 0.159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.5 3.2 1.7 1.3 0.0 -0.3 -0.3 -0.2 -0.8 0.1 -0.2 -0.3 -0.1 -0.1 0.1 0.2

60=23-[73a(t)-73a(-1)] Net acquisition of financial assets (igl consolidated) : : : : : : : : : -0.2 -0.5 0.3 0.6 -0.2 0.4 -0.1 0.1 0.4

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.1 -0.2 -0.1 -0.6 0.0 -0.4 0.0 0.0 -0.2

62Valuation effects and other changes in volume in government debt : : : : : : : : : 0.2 -0.1 0.0 -0.1 0.0 -0.1 0.0 : :

62a of which, aggregation effects : : : : : : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.063 Statistical discrepancies : : : : : : : : : -0.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.0

64=65+66+69 Government debt (nominal / face value) : 68.2 69.3 68.7 79.2 84.6 86.6 89.7 91.6 91.8 89.9 89.1 86.8 -4.5 74.2 8.7 5.7 2.765 . Currency and deposits : 2.7 2.4 2.3 2.5 2.5 2.9 3.0 2.6 2.7 2.8 2.7 2.6 -0.9 3.5 0.0 0.0 0.0

66=67+68 . Debt securities : 51.7 54.4 54.8 63.9 66.4 68.1 69.1 71.4 71.9 70.9 71.0 70.0 -0.6 64.6 3.9 0.4 1.767 .. short term : 3.1 4.0 6.3 8.0 6.9 6.9 6.4 6.0 5.6 5.0 4.8 4.4 -0.1 3.9 0.1 0.0 0.468 .. long term : 48.6 50.3 48.5 55.9 59.5 61.2 62.7 65.4 66.3 66.0 66.2 65.6 -0.5 60.6 3.8 0.4 1.3

69=70+71 . Loans : 13.8 12.6 11.7 12.8 15.7 15.6 17.6 17.5 17.1 16.2 15.4 14.2 -2.9 6.1 4.8 5.3 0.970 .. short term : 0.7 1.0 1.2 1.3 3.1 2.6 2.2 1.8 1.8 1.6 1.6 1.3 -0.4 0.8 0.2 0.4 0.471 .. long term : 13.0 11.6 10.5 11.6 12.6 13.0 15.4 15.7 15.4 14.5 13.8 12.9 -2.5 5.3 4.6 5.0 0.6

72Intergovernmental lending (asset - not consolidated)* : : : : 0.0 0.2 0.7 2.0 2.3 2.4 2.2 2.1 2.1 : : : :

73Intergovernmental lending (borrowing- not consolidated)* : : : : 0.0 0.2 0.7 2.0 2.4 2.4 2.2 2.2 2.1 : : : :

74=45+46+48a Government liquid assets : : 8.0 9.3 10.8 11.6 11.2 11.7 11.2 11.6 11.4 11.8 11.9 : : : :

Table C - Memorandum items75 Government final consumption expenditure 19.9 19.3 20.0 20.0 21.7 21.4 21.0 21.0 21.1 21.0 20.6 20.5 20.3 5.9 3.2 6.0 5.376 Consumption of fixed capital 2.6 2.4 2.5 2.5 2.7 2.7 2.7 2.8 2.8 2.8 2.7 2.7 2.6 1.0 0.4 1.1 0.1

77=20+18-76 Net savings and capital transfers -6.7 -0.5 -2.0 -1.4 -5.2 -5.5 -3.8 -3.5 -3.0 -2.5 -2.0 -1.6 -1.0 -1.4 0.1 0.1 0.178 GDP



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2=3+4+5 1.9 2.3 3.7 5.1 7.9 6.8 0.0 -6.4 2.8 4.6 3.8 2.9 2.5 3.4 2.6 4.43 3.6 3.0 4.2 4.8 6.0 4.9 -1.3 -3.8 4.0 3.9 2.8 1.6 3.4 2.8 2.1 3.74 -0.1 -0.2 4.1 6.2 10.4 8.8 1.4 -10.0 2.4 5.1 5.3 3.7 1.8 3.8 2.9 5.45 13.5 78.0 -16.7 -18.3 -7.6 7.6 -1.1 41.7 -25.7 21.7 -17.6 26.0 -6.5 9.7 14.6 -5.46 3.5 3.7 2.9 2.6 4.1 4.3 3.9 -0.2 1.8 3.0 1.8 1.7 2.1 2.2 2.9 3.57 4.1 3.4 4.7 5.6 4.2 6.1 5.1 4.3 5.1 3.7 1.9 3.0 2.1 2.1 2.1 2.58 -2.2 -5.1 3.6 4.5 10.9 6.4 10.1 -1.8 -0.2 5.6 -0.1 1.8 -2.3 -6.1 -4.3 -1.59 11.2 31.5 0.6 2.5 1.3 -11.2 -29.9 -15.3 2.3 13.8 32.0 12.9 -1.4 8.9 -41.8 -24.6

10=11+..+18 4.0 3.8 3.0 3.4 3.8 3.9 5.3 4.9 2.5 -0.1 1.5 1.1 0.9 1.7 1.2 2.411 6.1 4.0 5.3 5.7 4.1 5.9 5.7 5.7 2.3 1.0 0.5 1.6 1.4 2.2 1.8 2.512 4.7 4.0 3.1 3.7 3.5 3.3 4.6 3.7 1.1 0.4 -0.4 1.1 1.2 1.3 1.9 2.213 -3.6 -3.8 -1.9 0.0 1.7 7.2 5.2 -7.5 0.9 11.1 1.2 -6.2 -5.2 -7.5 -5.9 -3.914 1.9 -1.5 -2.4 -1.1 4.5 5.8 4.5 16.1 2.0 -2.3 -1.1 2.9 10.9 5.5 1.2 1.515 5.4 4.5 3.3 3.4 3.9 3.5 4.7 6.5 2.5 1.4 2.2 2.5 2.3 2.3 2.7 2.5

15a 5.2 4.4 3.5 3.1 3.2 3.2 4.5 6.8 2.4 1.3 2.5 2.3 2.0 2.1 2.2 2.316 2.4 6.5 2.6 7.5 3.7 3.1 7.5 1.4 3.3 0.8 3.1 10.0 -1.7 1.0 2.7 -2.517 2.0 2.3 9.7 0.1 5.6 -9.8 12.6 6.9 36.6 -29.6 25.4 -15.2 -8.9 2.6 -14.8 27.318 1.7 7.2 1.6 3.1 5.1 8.2 6.3 6.3 -5.7 -4.9 -5.3 -1.8 -3.2 3.2 -2.6 3.019 0.6 8.0 2.0 3.4 7.0 6.5 5.9 5.5 -4.1 -5.7 -6.1 -2.3 -1.9 2.9 -2.1 4.5

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : 3.1 1.5 2.8 10.5 5.9 4.7 0.7 5.8 -0.5 -0.2 -1.6 0.6 1.4

24 : : : 6.9 6.1 4.4 14.8 5.5 0.3 3.4 5.0 -8.2 3.9 2.6 4.7 7.525 : : : 17.3 18.4 18.4 48.3 11.7 36.6 -7.1 -2.8 -6.8 -8.7 -11.1 -0.8 -6.026 : : : 0.0 -4.8 0.8 24.0 16.5 12.4 2.0 18.6 3.6 -5.7 -4.7 -1.9 -0.627 : : : 1.1 -1.7 0.4 5.8 3.0 1.3 -0.8 4.9 0.8 -0.1 -0.8 0.9 0.628 : : : 2.8 4.6 4.5 1.5 3.4 -1.7 5.0 2.1 2.9 4.8 -0.7 -1.2 2.2

29=30+..+33 : : : 4.5 2.6 2.2 7.6 10.1 9.0 4.9 6.1 2.8 2.3 1.3 1.6 1.430 : : : 8.4 4.6 -3.0 3.2 2.0 1.1 0.1 2.5 -9.1 3.4 3.3 0.5 -0.831 : : : 4.8 2.0 2.4 8.9 12.2 6.6 4.9 3.8 4.2 3.0 2.1 2.3 2.032 : : : 2.0 2.2 -0.2 4.6 5.6 24.9 6.6 19.7 0.8 -0.3 -3.1 -1.4 -3.533 : : : 5.5 9.1 8.8 3.4 2.6 5.4 3.6 -2.3 -1.4 1.2 3.1 1.5 9.7


35=44(t)-44(t-1)-23 : : : 6.7 5.1 5.2 -6.4 2.8 3.2 -0.2 3.2 2.6 3.7 1.5 1.0 1.736=50(t)-50(t-1)-29 : : : 0.6 -2.1 -1.7 2.4 0.6 -1.5 -0.9 5.5 -0.5 5.9 -0.1 0.6 -1.3

37=35-36 = 55(t)-55(t-1)-22 : : : -2.8 -6.4 -6.2 9.0 -0.9 -4.5 -1.4 6.9 -2.3 7.2 -1.0 0.4 -2.9

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : 9.8 6.6 8.1 4.1 8.7 7.9 0.6 9.1 2.0 3.5 -0.1 1.6 3.145 : : : 6.7 5.6 4.8 13.7 8.2 0.0 3.6 5.6 -6.2 8.1 3.7 4.9 7.846 : : : 12.9 15.2 16.0 48.0 14.6 38.2 -8.0 1.4 -0.9 -0.4 -8.2 1.7 -7.947 : : : -0.2 -4.8 0.4 24.3 16.0 13.5 6.8 17.8 4.7 -2.9 -4.7 -4.3 -0.848 : : : 17.3 10.9 11.8 -7.5 8.1 7.6 -2.1 10.7 4.4 4.9 2.0 4.2 4.3

48a : : : 29.5 12.6 9.6 -14.5 19.1 9.4 -4.4 9.4 5.0 6.8 8.5 17.4 8.549 : : : 4.3 3.8 5.1 1.4 3.7 0.3 3.5 5.1 3.1 3.9 -1.0 -2.9 3.0

50=51+..+54 : : : 5.1 0.5 0.5 10.0 10.8 7.6 4.0 11.6 2.3 8.2 1.1 2.2 0.251 : : : 8.4 4.7 -3.0 3.4 5.0 1.5 14.0 2.6 -9.2 4.8 4.0 0.5 -0.952 : : : 5.1 -0.9 0.2 12.1 12.9 4.4 3.0 10.4 3.0 10.7 1.7 3.1 0.453 : : : 2.8 2.1 -0.2 4.6 5.6 27.2 5.7 20.1 2.4 0.7 -2.5 -1.8 -3.754 : : : 8.9 9.8 8.5 4.1 2.6 3.8 6.0 8.5 -0.1 3.2 3.3 2.4 8.8

55=44-50 : : : 2.5 -3.2 -4.4 14.4 12.2 7.3 6.3 13.3 2.4 11.0 1.8 2.5 -1.456=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 3.3 4.8 4.8 4.8 2.4 1.8 8.4 11.1 9.7 5.2 3.9 3.1 2.6 1.4 1.9 0.959 = 57+58 = 60+..+63 -0.9 -0.2 0.2 0.8 0.1 0.8 5.0 2.4 1.7 0.0 -0.3 -0.3 -0.2 -0.9 0.1 -0.2

60=23-[73a(t)-73a(-1)] : : : : : : : : : : : : -0.2 -0.6 0.3 0.7

61=(-)33 : : : : : : : : : : : : -0.1 -0.2 -0.1 -0.762 : : : : : : : : : : : : 0.2 -0.1 0.0 -0.2

62a : : : : : : : : : : : : 0.0 0.0 0.0 0.063 : : : : : : : : : : : : -0.1 -0.1 -0.1 0.0

64=65+66+69 3.3 4.8 4.8 4.8 2.4 1.8 8.4 11.1 9.7 5.2 3.9 3.1 2.6 1.4 1.9 0.965 -0.2 -21.1 8.3 13.7 8.4 -5.5 7.2 6.2 2.2 19.8 3.8 -11.2 5.9 4.9 0.6 -1.1

66=67+68 4.6 5.3 5.5 5.0 2.3 2.6 9.3 12.5 6.8 5.3 1.9 4.4 3.1 2.1 2.8 2.167 22.2 10.4 2.3 -2.8 -10.7 14.0 73.6 23.4 -11.8 3.2 -6.9 -5.1 -4.0 -8.6 -0.6 -5.168 3.3 4.9 5.8 5.6 3.3 1.8 4.4 11.1 9.5 5.5 2.9 5.3 3.8 3.0 3.1 2.6

69=70+71 -1.2 8.1 1.3 2.5 1.9 -0.2 4.4 5.7 25.6 2.4 12.8 0.7 0.0 -2.4 -2.2 -4.170 11.3 31.2 -1.4 2.8 4.0 16.6 16.3 -2.3 155.4 -14.1 -15.3 -16.6 -0.8 -4.3 -1.8 -12.471 -2.0 6.4 1.5 2.4 1.7 -1.6 3.2 6.7 11.6 6.4 18.4 3.2 0.1 -2.1 -2.2 -3.272 : : : : : : : : 2220.1 227.2 178.9 19.4 4.1 -4.0 0.0 0.0

73 : : : : : : : : 2609.9 230.8 181.6 20.1 4.2 -3.8 -0.3 -0.574=45+46+48a : : : 11.4 8.5 7.7 14.4 11.3 10.9 -1.3 5.0 -2.9 5.5 1.3 6.5 4.3


77=20+18-7678 3.5 2.9 4.3 3.6 5.3 5.6 2.5 -3.6 2.8 2.7 0.4 1.0 2.3 3.5 2.8 3.5

79 0.9 0.6 0.3 0.3 0.6 0.6 0.4 0.4 0.2 -1.2 -1.2 -0.3 0.1 0.2 0.5 :



Belgium

Consolidated general government (S.13)in million national currency


Government revenue and expenditure1=2+6+7+8+9 Total revenue 101,450 126,478 152,210 174,121 170,090 180,141 190,781 200,070

2=3+4+5 Taxes 60,208 77,528 92,508 103,739 97,897 104,930 110,732 116,5203 . Indirect taxes 25,737 33,518 39,960 44,250 43,530 46,652 48,230 50,6884 . Direct taxes 33,710 42,835 50,676 57,118 52,132 55,682 59,730 62,5135 . Capital taxes 761 1,175 1,873 2,370 2,235 2,596 2,772 3,3186 Social contributions 33,762 39,853 47,550 55,913 57,321 58,715 61,776 64,3397 Sales (incl . own account capital formation) 3,877 4,934 7,345 8,420 8,856 9,347 9,939 10,1678 Other current revenue 3,451 4,008 4,381 5,887 5,829 6,937 8,060 8,5119 Capital revenue 153 155 426 163 188 212 274 534

10=11+..+18 Total expenditure 110,858 126,664 160,811 178,027 188,866 194,750 206,680 216,47911 Intermediate consumption 7,519 9,428 12,486 14,009 15,009 15,166 15,870 16,49512 Compensation of employees 24,428 28,777 36,418 41,897 43,748 44,909 46,771 48,65513 Interest 18,941 17,214 13,575 14,032 13,338 13,171 13,638 13,96914 Subsidies 3,728 4,330 6,735 10,291 10,695 12,372 13,375 13,30815 Social benefits 45,014 52,591 67,710 79,047 84,887 87,447 91,583 96,121

15a of which other than transfers in kind 32,939 37,242 46,678 54,066 58,195 59,719 62,198 65,40816 Other current expenditure 4,026 4,774 6,308 6,533 7,723 7,711 8,014 8,30817 Capital transfers payable 2,403 3,319 11,064 4,514 4,920 5,342 7,606 9,34418 Capital investments 4,799 6,232 6,516 7,705 8,546 8,633 9,823 10,27919 of which, gross fixed capital formation 4,857 6,270 6,624 7,417 8,131 8,394 9,275 9,644

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -9,408 -186 -8,601 -3,906 -18,775 -14,609 -15,899 -16,409


21=20-22Statistical discrepancy(non-financial minus financial accounts) -649 1,524 -795 -3,161 -842 864 37 -631

22=23-29 Net financial transactions -8,759 -1,710 -7,806 -745 -17,933 -15,473 -15,936 -15,77823=24+..+28 Net acquisition of financial assets -2,874 281 492 25,313 2,410 954 7,955 2,221

24 Currency and deposits -3,450 512 872 7,327 -3,135 1,677 992 -69225 Debt securities -41 454 -111 897 -95 -690 -140 -15326 Loans 345 -247 496 1,255 2,063 1,589 2,912 5,79127 Shares and other equity 287 -384 -129 15,817 3,955 456 3,373 -2,82328 Other financial assets -17 -54 -635 17 -378 -2,078 817 97

29=30+..+33 Net incurrence of liabilities 5,885 1,991 8,298 26,058 20,343 16,427 23,891 17,99930 Currency and deposits 18 0 109 60 103 114 83 -2931 Debt securities 14,216 1,700 3,746 25,322 16,606 12,630 16,698 13,44632 Loans -8,746 -387 4,373 1,830 2,659 4,558 6,280 4,75133 Other liabilities 397 681 71 -1,155 973 -876 828 -171


35=44(t)-44(t-1)-23 Other changes in financial assets : 1,406 1,118 -5,298 3,455 1,613 -1,140 5,19436=50(t)-50(t-1)-29 Other changes in liabilities : -97 -940 8,698 3,497 -5,304 1,173 29,541

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 1,503 2,058 -13,996 -42 6,917 -2,313 -24,347

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 107,436 117,175 131,080 146,385 137,030 142,390 149,665 151,71842 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets 49,515 50,241 59,559 88,078 93,943 96,510 103,325 110,74045 Currency and deposits 7,444 7,411 8,832 16,806 15,935 17,635 18,654 17,96346 Debt securities 930 1,367 2,042 2,835 2,740 2,050 1,910 1,75747 Loans 11,493 13,662 16,311 18,877 20,575 21,677 24,146 29,61248 Shares and other equity 19,058 13,912 18,004 33,073 37,695 37,770 39,433 42,128

48a of which, Investment fund shares 544 700 1,162 1,750 1,005 992 694 58849 Other financial assets 10,590 13,889 14,370 16,487 16,997 17,379 19,182 19,279

50=51+..+54 Liabilities 297,047 311,260 337,344 359,273 383,113 394,236 419,300 466,84051 Currency and deposits 522 597 894 1,176 1,279 1,393 1,477 1,44752 Debt securities 244,651 266,881 278,616 297,386 316,011 323,234 340,128 382,33753 Loans 46,459 35,889 44,193 47,389 50,570 55,196 62,454 67,20554 Other liabilities 5,414 7,893 13,642 13,322 15,252 14,414 15,242 15,851

55=44-50 Financial net worth -247,532 -261,019 -277,785 -271,195 -289,170 -297,726 -315,975 -356,10056=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -9,408 -186 -8,601 -3,906 -18,775 -14,610 -15,899 -16,409

58=64(t)-64(t-1) Change in Government Debt 6,385 1,431 6,575 27,624 19,545 16,913 24,856 15,35559 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -3,023 1,245 -2,026 23,718 770 2,304 8,957 -1,054

60=23 Net acquisition of financial assets -2,874 281 493 25,313 2,409 954 7,955 2,221

61=(-)33 Incurrence in liabilities not in government debt -397 -680 -70 1,155 -973 875 -828 169

62 Valuation effects and other changes in volume in government debt 896 120 -1,653 412 176 -389 1,795 -2,805

63 Statistical discrepancies -648 1,524 -796 -3,162 -842 863 36 -64064=65+66+69 Government debt (nominal / face value) 276,257 280,870 294,905 327,623 347,168 364,081 388,937 404,292

65 . Currency and deposits 522 597 894 1,176 1,279 1,393 1,477 1,44766=67+68 . Debt securities 229,258 244,385 249,914 279,149 295,409 307,584 325,100 335,748

67 .. short term 37,163 25,838 24,960 49,843 41,923 43,147 39,642 34,11068 .. long term 192,095 218,547 224,954 229,306 253,486 264,437 285,458 301,638

69=70+71 . Loans 46,478 35,889 44,097 47,298 50,479 55,104 62,361 67,09770 .. short term 12,433 3,092 3,128 4,381 6,141 7,082 9,529 6,39571 .. long term 34,045 32,797 40,969 42,917 44,339 48,022 52,831 60,70172 Intergovernmental lending (asset)* : : : : 130 830 2,586 7,19873 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets 8,918 9,478 12,036 21,391 19,680 20,677 21,258 20,308

Table C - Memorandum items75 Government final consumption expenditure 44,717 53,902 68,862 79,857 83,782 85,999 90,128 94,01176 Consumption of fixed capital 4,719 5,488 6,617 7,827 7,695 8,074 8,585 8,885

77=20+18-76 Net savings and capital transfers -9,328 558 -8,701 -4,028 -17,924 -14,050 -14,661 -15,01578 GDP 211,616 258,222 311,481 354,066 348,781 365,101 379,106 387,500

79 Government employment (in thousands of persons) 717 735 792 819 835 842 846 846



Belgium



Government revenue and expenditure1=2+6+7+8+9 206,752 208,747 210,838 214,928 225,112 -98,554 111,439 85,710 31,884 94,634

2=3+4+5 120,914 123,108 124,536 127,450 134,682 100,691 21,102 9,659 3,2303 51,259 52,101 52,859 55,350 57,281 43,102 6,558 5,887 1,7344 65,682 67,108 68,039 68,753 73,784 57,102 11,414 3,772 1,4965 3,973 3,900 3,638 3,347 3,618 487 3,131 0 06 65,989 66,773 67,999 67,595 69,549 2,561 6,111 1,570 59,3077 10,790 11,135 11,270 12,340 13,143 2,252 6,570 3,968 3538 8,532 7,505 6,833 6,918 7,281 -97,690 5,659 51,742 15,868 31,7029 526 226 201 625 457 -865 278 184 820 41

10=11+..+18 219,034 221,144 220,914 225,249 228,986 -98,555 117,088 85,238 31,274 93,94011 17,094 16,997 16,677 16,847 17,535 3,083 8,438 5,010 1,00412 50,194 50,890 51,120 52,337 53,971 9,450 25,454 17,440 1,62813 12,972 13,057 12,449 12,076 10,870 -339 9,546 1,316 336 1114 13,591 13,996 14,061 14,266 14,690 4,518 7,542 658 1,97215 99,370 101,301 103,538 106,584 109,941 5,659 22,228 3,310 78,744

15a 68,187 69,182 70,656 72,847 75,109 5,245 14,230 3,063 52,57116 8,520 8,372 8,450 9,217 7,949 -97,351 81,744 11,973 1,140 10,44417 7,579 7,186 5,130 4,611 4,131 -865 2,100 2,552 284 5918 9,715 9,344 9,488 9,311 9,899 989 5,736 3,096 7819 9,250 9,367 9,459 9,313 9,771 990 5,605 3,099 78

Government deficit

20=1-10 -12,281 -12,397 -10,076 -10,321 -3,874 -5,649 471 610 694


21=20-22 150 -1,181 41 -3,286 1,924 833 526 535 32

22=23-29 -12,431 -11,216 -10,117 -7,035 -5,798 -6,482 -55 75 66223=24+..+28 -2,803 3,885 -164 6,678 -3,036 912 -4,072 142 -867 849

24 -491 209 268 1,686 -850 -4 -72 -781 15 -825 -213 -397 -96 -23 318 -4 -118 98 130 21226 2,849 1,782 405 610 825 -6 -340 1,184 -176 16327 -4,255 1,320 -2,965 1,095 -2,114 -1 -1,881 -20 -212 028 -691 969 2,224 3,312 -1,217 918 -1,660 -338 -621 484

29=30+..+33 9,628 15,101 9,953 13,713 2,762 910 2,410 197 -942 18730 -54 -47 32 17 26 0 26 0 0 031 6,155 11,311 10,789 14,101 5,204 -3 3,714 1,565 -72 032 4,212 4,657 -1,413 24 -2,113 -6 127 -1,433 -667 -13433 -687 -820 547 -430 -355 924 -1,460 64 -204 321


35=44(t)-44(t-1)-23 3,231 17,036 1,085 8,185 609 353 661 -44 -18 -34336=50(t)-50(t-1)-29 -11,633 45,031 -9,441 6,410 -13,006 357 -13,352 -14 3 0

37=35-36 = 55(t)-55(t-1)-22 14,864 -27,995 10,526 1,775 13,615 14,013 -30 -21 -343

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 151,268 151,028 151,278 152,213 158,351 : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 111,168 132,089 133,010 147,873 145,446 -25,433 70,885 48,618 28,526 22,85045 17,471 16,424 16,692 18,834 18,108 0 1,309 8,288 8,407 10446 1,544 1,279 1,142 1,431 1,729 -11,514 117 2,295 449 10,38247 31,843 36,096 36,355 37,759 38,486 -8,302 12,041 27,609 2,663 4,47548 40,457 56,341 55,998 65,318 63,865 -66 42,532 8,001 13,398 0

48a 665 818 765 2,270 2,391 : : : :49 19,853 21,949 22,823 24,530 23,259 -5,551 14,888 2,425 3,608 7,889

50=51+..+54 464,835 524,967 525,479 545,602 535,358 -25,433 461,412 68,392 25,880 5,10751 1,395 1,348 1,380 1,397 1,424 0 1,424 0 0 052 376,797 423,582 424,556 445,443 437,684 -11,515 429,000 18,675 1,524 053 71,419 83,236 81,829 81,761 79,587 -8,303 22,989 40,612 22,184 2,10554 15,224 16,800 17,714 17,001 16,664 -5,616 8,000 9,106 2,172 3,002

55=44-50 -353,667 -392,878 -392,469 -397,729 -389,912 -390,527 -19,774 2,646 17,74356=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -12,281 -12,397 -10,076 -10,321 -3,873 -5,649 472 610 694

58=64(t)-64(t-1) 9,441 16,640 7,168 12,849 3,604 -15 4,363 129 -738 -13559 = 57+58 = 60+..+63 -2,840 4,243 -2,908 2,528 -269 -15 -1,286 601 -128 559

60=23 -2,803 3,884 -165 6,678 -3,036 911 -4,071 142 -868 849

61=(-)33 687 820 -546 429 355 -922 1,459 -65 204 -322

62 -874 800 -2,239 -1,287 507 -7 503 12 0 0

63 150 -1,260 41 -3,292 1,904 1 824 512 535 3264=65+66+69 413,733 430,373 437,541 450,390 453,994 -18,105 387,292 58,994 23,708 2,105

65 1,395 1,348 1,380 1,397 1,424 0 1,424 0 0 066=67+68 341,042 345,854 354,509 367,330 373,050 -9,805 362,837 18,494 1,524 0

67 27,308 30,046 28,473 28,689 29,212 -322 26,618 2,293 623 068 313,734 315,808 326,036 338,641 343,839 -9,483 336,220 16,201 901 0

69=70+71 71,296 83,171 81,652 81,664 79,519 -8,302 23,032 40,500 22,184 2,10570 5,621 7,482 5,366 6,678 6,027 -6,147 5,597 2,017 3,326 1,23471 65,675 75,689 76,287 74,986 73,493 -2,153 17,434 38,483 18,858 87172 8,600 8,956 8,547 8,546 8,546 : : : :73 0 0 0 0 0 : : : :

74=45+46+48a 19,680 18,521 18,599 22,535 22,228 : : : :

Table C - Memorandum items75 96,087 97,348 98,051 99,376 102,201 11,864 40,773 21,052 28,51276 8,993 9,057 9,139 9,277 9,507 1,136 5,719 2,591 60

77=20+18-76 -11,559 -12,110 -9,726 -10,286 -3,482 -5,796 488 1,115 71278 392,340 400,087 411,010 424,660 439,052

79 846 850 854 858 860

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Belgium





10=11+..+18 Total expenditure 52.4 49.1 51.6 50.3 54.2 53.3 54.5 55.9 55.8 55.3 53.7 53.0 52.2 -22.4 26.7 19.4 7.1 21.411 Intermediate consumption 3.6 3.7 4.0 4.0 4.3 4.2 4.2 4.3 4.4 4.2 4.1 4.0 4.0 0.7 1.9 1.1 0.212 Compensation of employees 11.5 11.1 11.7 11.8 12.5 12.3 12.3 12.6 12.8 12.7 12.4 12.3 12.3 2.2 5.8 4.0 0.413 Interest 9.0 6.7 4.4 4.0 3.8 3.6 3.6 3.6 3.3 3.3 3.0 2.8 2.5 -0.1 2.2 0.3 0.1 0.014 Subsidies 1.8 1.7 2.2 2.9 3.1 3.4 3.5 3.4 3.5 3.5 3.4 3.4 3.3 1.0 1.7 0.1 0.415 Social benefits 21.3 20.4 21.7 22.3 24.3 24.0 24.2 24.8 25.3 25.3 25.2 25.1 25.0 1.3 5.1 0.8 17.9


Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -4.4 -0.1 -2.8 -1.1 -5.4 -4.0 -4.2 -4.2 -3.1 -3.1 -2.5 -2.4 -0.9 -1.3 0.1 0.1 0.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) -0.3 0.6 -0.3 -0.9 -0.2 0.2 0.0 -0.2 0.0 -0.3 0.0 -0.8 0.4 0.2 0.1 0.1 0.0

22=23-29 Net financial transactions -4.1 -0.7 -2.5 -0.2 -5.1 -4.2 -4.2 -4.1 -3.2 -2.8 -2.5 -1.7 -1.3 -1.5 0.0 0.0 0.223=24+..+28 Net acquisition of financial assets -1.4 0.1 0.2 7.1 0.7 0.3 2.1 0.6 -0.7 1.0 0.0 1.6 -0.7 0.2 -0.9 0.0 -0.2 0.2

24 Currency and deposits -1.6 0.2 0.3 2.1 -0.9 0.5 0.3 -0.2 -0.1 0.1 0.1 0.4 -0.2 0.0 0.0 -0.2 0.0 0.025 Debt securities 0.0 0.2 0.0 0.3 0.0 -0.2 0.0 0.0 -0.1 -0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.026 Loans 0.2 -0.1 0.2 0.4 0.6 0.4 0.8 1.5 0.7 0.4 0.1 0.1 0.2 0.0 -0.1 0.3 0.0 0.027 Shares and other equity 0.1 -0.1 0.0 4.5 1.1 0.1 0.9 -0.7 -1.1 0.3 -0.7 0.3 -0.5 0.0 -0.4 0.0 0.0 0.028 Other financial assets 0.0 0.0 -0.2 0.0 -0.1 -0.6 0.2 0.0 -0.2 0.2 0.5 0.8 -0.3 0.2 -0.4 -0.1 -0.1 0.1

29=30+..+33 Net incurrence of liabilities 2.8 0.8 2.7 7.4 5.8 4.5 6.3 4.6 2.5 3.8 2.4 3.2 0.6 0.2 0.5 0.0 -0.2 0.030 Currency and deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities 6.7 0.7 1.2 7.2 4.8 3.5 4.4 3.5 1.6 2.8 2.6 3.3 1.2 0.0 0.8 0.4 0.0 0.032 Loans -4.1 -0.1 1.4 0.5 0.8 1.2 1.7 1.2 1.1 1.2 -0.3 0.0 -0.5 0.0 0.0 -0.3 -0.2 0.033 Other liabilities 0.2 0.3 0.0 -0.3 0.3 -0.2 0.2 0.0 -0.2 -0.2 0.1 -0.1 -0.1 0.2 -0.3 0.0 0.0 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.5 0.4 -1.5 1.0 0.4 -0.3 1.3 0.8 4.3 0.3 1.9 0.1 0.1 0.2 0.0 0.0 -0.136=50(t)-50(t-1)-29 Other changes in liabilities : 0.0 -0.3 2.5 1.0 -1.5 0.3 7.6 -3.0 11.3 -2.3 1.5 -3.0 0.1 -3.0 0.0 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.6 0.7 -4.0 0.0 1.9 -0.6 -6.3 3.8 -7.0 2.6 0.4 3.1 3.2 0.0 0.0 -0.1

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : : :41 Fixed assets 50.8 45.4 42.1 41.3 39.3 39.0 39.5 39.2 38.6 37.7 36.8 35.8 36.1 : : : :42 Other produced assets : : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets 23.4 19.5 19.1 24.9 26.9 26.4 27.3 28.6 28.3 33.0 32.4 34.8 33.1 -5.8 16.1 11.1 6.5 5.245 Currency and deposits 3.5 2.9 2.8 4.7 4.6 4.8 4.9 4.6 4.5 4.1 4.1 4.4 4.1 0.0 0.3 1.9 1.9 0.046 Debt securities 0.4 0.5 0.7 0.8 0.8 0.6 0.5 0.5 0.4 0.3 0.3 0.3 0.4 -2.6 0.0 0.5 0.1 2.447 Loans 5.4 5.3 5.2 5.3 5.9 5.9 6.4 7.6 8.1 9.0 8.8 8.9 8.8 -1.9 2.7 6.3 0.6 1.048 Shares and other equity 9.0 5.4 5.8 9.3 10.8 10.3 10.4 10.9 10.3 14.1 13.6 15.4 14.5 0.0 9.7 1.8 3.1 0.0

48a of which, Investment fund shares 0.3 0.3 0.4 0.5 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.5 0.5 : : : :49 Other financial assets 5.0 5.4 4.6 4.7 4.9 4.8 5.1 5.0 5.1 5.5 5.6 5.8 5.3 -1.3 3.4 0.6 0.8 1.8

50=51+..+54 Liabilities 140.4 120.5 108.3 101.5 109.8 108.0 110.6 120.5 118.5 131.2 127.9 128.5 121.9 -5.8 105.1 15.6 5.9 1.251 Currency and deposits 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.0 0.3 0.0 0.0 0.052 Debt securities 115.6 103.4 89.4 84.0 90.6 88.5 89.7 98.7 96.0 105.9 103.3 104.9 99.7 -2.6 97.7 4.3 0.3 0.053 Loans 22.0 13.9 14.2 13.4 14.5 15.1 16.5 17.3 18.2 20.8 19.9 19.3 18.1 -1.9 5.2 9.2 5.1 0.554 Other liabilities 2.6 3.1 4.4 3.8 4.4 3.9 4.0 4.1 3.9 4.2 4.3 4.0 3.8 -1.3 1.8 2.1 0.5 0.7

55=44-50 Financial net worth -117.0 -101.1 -89.2 -76.6 -82.9 -81.5 -83.3 -91.9 -90.1 -98.2 -95.5 -93.7 -88.8 -88.9 -4.5 0.6 4.056=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -4.4 -0.1 -2.8 -1.1 -5.4 -4.0 -4.2 -4.2 -3.1 -3.1 -2.5 -2.4 -0.9 -1.3 0.1 0.1 0.2

58=64(t)-64(t-1) Change in Government Debt 3.0 0.6 2.1 7.8 5.6 4.6 6.6 4.0 2.4 4.2 1.7 3.0 0.8 0.0 1.0 0.0 -0.2 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -1.4 0.5 -0.7 6.7 0.2 0.6 2.4 -0.3 -0.7 1.1 -0.7 0.6 -0.1 0.0 -0.3 0.1 0.0 0.1

60=23 Net acquisition of financial assets -1.4 0.1 0.2 7.1 0.7 0.3 2.1 0.6 -0.7 1.0 0.0 1.6 -0.7 0.2 -0.9 0.0 -0.2 0.2

61=(-)33 Incurrence in liabilities not in government debt -0.2 -0.3 0.0 0.3 -0.3 0.2 -0.2 0.0 0.2 0.2 -0.1 0.1 0.1 -0.2 0.3 0.0 0.0 -0.1

62Valuation effects and other changes in volume in government debt 0.4 0.0 -0.5 0.1 0.1 -0.1 0.5 -0.7 -0.2 0.2 -0.5 -0.3 0.1 0.0 0.1 0.0 0.0 0.0

63 Statistical discrepancies -0.3 0.6 -0.3 -0.9 -0.2 0.2 0.0 -0.2 0.0 -0.3 0.0 -0.8 0.4 0.0 0.2 0.1 0.1 0.064=65+66+69 Government debt (nominal / face value) 130.5 108.8 94.7 92.5 99.5 99.7 102.6 104.3 105.5 107.6 106.5 106.1 103.4 -4.1 88.2 13.4 5.4 0.5

65 . Currency and deposits 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.0 0.3 0.0 0.0 0.066=67+68 . Debt securities 108.3 94.6 80.2 78.8 84.7 84.2 85.8 86.6 86.9 86.4 86.3 86.5 85.0 -2.2 82.6 4.2 0.3 0.0

67 .. short term 17.6 10.0 8.0 14.1 12.0 11.8 10.5 8.8 7.0 7.5 6.9 6.8 6.7 -0.1 6.1 0.5 0.1 0.068 .. long term 90.8 84.6 72.2 64.8 72.7 72.4 75.3 77.8 80.0 78.9 79.3 79.7 78.3 -2.2 76.6 3.7 0.2 0.0

69=70+71 . Loans 22.0 13.9 14.2 13.4 14.5 15.1 16.4 17.3 18.2 20.8 19.9 19.2 18.1 -1.9 5.2 9.2 5.1 0.570 .. short term 5.9 1.2 1.0 1.2 1.8 1.9 2.5 1.7 1.4 1.9 1.3 1.6 1.4 -1.4 1.3 0.5 0.8 0.371 .. long term 16.1 12.7 13.2 12.1 12.7 13.2 13.9 15.7 16.7 18.9 18.6 17.7 16.7 -0.5 4.0 8.8 4.3 0.272 Intergovernmental lending (asset)* : : : : 0.0 0.2 0.7 1.9 2.2 2.2 2.1 2.0 1.9 : : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : : :

74=45+46+48a Government liquid assets 4.2 3.7 3.9 6.0 5.6 5.7 5.6 5.2 5.0 4.6 4.5 5.3 5.1 : : : :


77=20+18-76 Net savings and capital transfers -4.4 0.2 -2.8 -1.1 -5.1 -3.8 -3.9 -3.9 -2.9 -3.0 -2.4 -2.4 -0.8 -1.3 0.1 0.3 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Belgium




2=3+4+5 3.3 1.2 7.1 4.5 4.5 4.2 3.1 -5.6 7.2 5.5 5.2 3.8 1.8 1.2 2.3 5.73 3.8 3.0 6.8 5.1 4.6 4.6 1.1 -1.6 7.2 3.4 5.1 1.1 1.6 1.5 4.7 3.54 3.0 -0.5 5.8 4.9 3.9 3.9 4.4 -8.7 6.8 7.3 4.7 5.1 2.2 1.4 1.1 7.35 4.1 10.7 56.5 -14.0 15.0 2.9 7.0 -5.7 16.2 6.8 19.7 19.7 -1.8 -6.7 -8.0 8.16 5.3 2.2 3.3 2.7 4.7 6.2 5.8 2.5 2.4 5.2 4.1 2.6 1.2 1.8 -0.6 2.97 13.1 5.6 5.8 7.8 3.8 3.2 7.0 5.2 5.5 6.3 2.3 6.1 3.2 1.2 9.5 6.58 -7.5 -5.7 -7.4 14.1 7.2 6.7 17.6 -1.0 19.0 16.2 5.6 0.3 -12.0 -8.9 1.2 5.29 -26.3 41.7 -21.2 97.1 -37.7 -41.5 5.2 14.9 13.1 29.2 94.9 -1.4 -57.1 -11.1 211.1 -26.8

10=11+..+18 4.2 5.3 2.0 10.0 -1.6 5.1 7.0 6.1 3.1 6.1 4.7 1.2 1.0 -0.1 2.0 1.711 15.0 2.2 3.3 2.9 3.0 0.4 8.4 7.1 1.0 4.6 3.9 3.6 -0.6 -1.9 1.0 4.112 7.4 4.1 3.0 5.2 4.4 4.3 5.7 4.4 2.7 4.1 4.0 3.2 1.4 0.5 2.4 3.113 -8.1 -4.5 -5.8 -5.4 -1.5 2.6 2.3 -4.9 -1.3 3.5 2.4 -7.1 0.7 -4.7 -3.0 -10.014 2.3 11.0 -0.7 32.1 18.3 16.4 11.0 3.9 15.7 8.1 -0.5 2.1 3.0 0.5 1.5 3.015 5.9 5.6 5.3 4.0 3.0 5.3 7.6 7.4 3.0 4.7 5.0 3.4 1.9 2.2 2.9 3.1

15a 6.9 4.4 4.0 3.7 3.4 5.2 6.5 7.6 2.6 4.2 5.2 4.2 1.5 2.1 3.1 3.116 1.6 9.5 6.6 6.4 1.1 -5.7 8.6 18.2 -0.1 3.9 3.7 2.6 -1.7 0.9 9.1 -13.817 -4.7 64.2 -33.4 294.6 -64.1 9.1 4.2 9.0 8.6 42.4 22.8 -18.9 -5.2 -28.6 -10.1 -10.418 -3.2 7.2 1.7 5.9 -9.0 17.7 10.3 10.9 1.0 13.8 4.6 -5.5 -3.8 1.5 -1.9 6.319 0.7 4.4 1.7 7.0 -3.1 9.5 5.5 9.6 3.2 10.5 4.0 -4.1 1.3 1.0 -1.5 4.9

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -2.2 -2.6 1.3 0.8 3.9 4.6 37.2 2.7 1.0 8.2 2.1 -2.5 3.5 -0.1 5.0 -2.1

24 -8.5 11.2 14.4 11.0 -3.1 16.0 73.7 -18.7 10.5 5.6 -3.7 -2.7 1.2 1.6 10.1 -4.525 19.6 19.6 14.7 -5.2 -8.5 3.7 46.3 -3.4 -25.2 -6.8 -8.0 -12.1 -25.7 -7.5 -2.0 22.226 4.1 -12.8 -2.1 3.1 4.1 5.1 7.1 10.9 7.7 13.4 24.0 9.6 5.6 1.1 1.7 2.227 -1.8 1.2 -5.2 -0.7 1.1 3.8 72.0 12.0 1.2 8.9 -7.2 -10.1 3.3 -5.3 2.0 -3.228 -8.6 -1.0 3.3 -4.3 13.1 -0.9 0.1 -2.3 -12.2 4.7 0.5 -3.6 4.9 10.1 14.5 -5.0

29=30+..+33 0.4 1.0 0.4 2.5 0.5 0.9 8.0 5.7 4.3 6.1 4.3 2.1 3.2 1.9 2.6 0.530 14.4 25.0 14.3 13.9 13.0 10.6 5.4 8.8 8.9 6.0 -2.0 -3.7 -3.4 2.4 1.2 1.931 0.3 -2.5 0.8 1.4 0.2 0.6 9.6 5.6 4.0 5.2 4.0 1.6 3.0 2.5 3.3 1.232 1.8 10.3 -0.4 10.7 3.1 0.0 4.0 5.6 9.0 11.4 7.6 6.3 6.5 -1.7 0.0 -2.633 -3.1 75.8 -5.8 0.5 -2.4 8.7 -8.0 7.3 -5.7 5.7 -1.1 -4.3 -5.4 3.3 -2.4 -2.1


35=44(t)-44(t-1)-23 -3.4 4.0 9.4 1.9 3.5 1.9 -7.8 3.9 1.7 -1.2 5.0 2.9 15.3 0.8 6.2 0.436=50(t)-50(t-1)-29 2.4 -1.3 1.3 -0.3 -3.3 -1.9 2.7 1.0 -1.4 0.3 7.0 -2.5 9.7 -1.8 1.2 -2.4

37=35-36 = 55(t)-55(t-1)-22 3.5 -2.3 -0.3 -0.8 -4.7 -2.8 5.5 0.0 -2.4 0.8 7.7 -4.2 7.9 -2.7 -0.5 -3.4

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 0.9 3.0 1.1 5.5 5.5 2.9 2.8 -6.4 3.9 5.1 1.4 -0.3 -0.2 0.2 0.6 4.042 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -5.5 1.5 10.8 2.8 7.4 6.4 29.4 6.7 2.7 7.1 7.2 0.4 18.8 0.7 11.2 -1.645 -8.3 10.8 14.4 10.9 -3.1 16.0 69.2 -5.2 10.7 5.8 -3.7 -2.7 -6.0 1.6 12.8 -3.946 27.9 19.6 14.7 -5.1 -8.5 3.7 46.4 -3.4 -25.2 -6.8 -8.0 -12.1 -17.2 -10.7 25.3 20.847 3.5 -12.8 -0.5 3.4 4.0 4.8 6.2 9.0 5.4 11.4 22.6 7.5 13.4 0.7 3.9 1.948 -16.5 18.6 26.8 3.6 11.3 9.6 50.6 14.0 0.2 4.4 6.8 -4.0 39.3 -0.6 16.6 -2.2

48a 27.6 -4.0 27.3 1.0 22.5 71.5 -28.3 -42.6 -1.3 -30.0 -15.3 13.1 23.0 -6.5 196.7 5.349 -7.5 -0.3 5.5 -2.1 14.9 -0.4 0.2 3.1 2.2 10.4 0.5 3.0 10.6 4.0 7.5 -5.2

50=51+..+54 2.8 -0.4 1.7 2.2 -2.8 -1.0 10.7 6.6 2.9 6.4 11.3 -0.4 12.9 0.1 3.8 -1.951 14.4 25.1 14.1 14.0 12.9 10.6 5.4 8.8 8.9 6.0 -2.0 -3.6 -3.4 2.4 1.2 1.952 2.9 -4.1 2.4 1.4 -3.8 -1.7 12.9 6.3 2.3 5.2 12.4 -1.4 12.4 0.2 4.9 -1.753 2.9 10.2 -0.4 8.2 3.1 0.0 4.0 6.7 9.1 13.1 7.6 6.3 16.5 -1.7 -0.1 -2.754 -2.5 75.8 -6.2 0.5 -2.4 8.7 -8.0 14.5 -5.5 5.7 4.0 -4.0 10.4 5.4 -4.0 -2.0

55=44-50 4.5 -0.7 -0.1 2.1 -5.0 -2.8 5.7 6.6 3.0 6.1 12.7 -0.7 11.1 -0.1 1.3 -2.056=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 0.0 -1.7 -0.2 -3.0 0.2 0.1 -1.3 -5.7 -4.2 -4.4 -4.2 -3.0 -3.0 -2.3 -2.4 -0.9

58=64(t)-64(t-1) 0.7 -0.8 0.9 2.3 0.9 0.9 9.2 6.0 4.9 6.8 3.9 2.3 4.0 1.7 2.9 0.859 = 57+58 = 60+..+63 0.8 -2.5 0.7 -0.7 1.1 0.9 7.9 0.2 0.7 2.5 -0.3 -0.7 1.0 -0.7 0.6 -0.1

60=23 -0.4 -0.5 0.2 0.2 0.8 1.0 8.4 0.7 0.3 2.2 0.6 -0.7 0.9 0.0 1.5 -0.7

61=(-)33 0.1 -2.2 0.3 0.0 0.1 -0.4 0.4 -0.3 0.3 -0.2 0.0 0.2 0.2 -0.1 0.1 0.1

62 0.2 0.3 0.1 -0.6 0.2 0.3 0.1 0.1 -0.1 0.5 -0.7 -0.2 0.2 -0.5 -0.3 0.1

63 0.9 -0.2 0.0 -0.3 0.0 0.1 -1.1 -0.3 0.2 0.0 -0.2 0.0 -0.3 0.0 -0.8 0.464=65+66+69 0.7 -0.8 0.9 2.3 0.9 0.9 9.2 6.0 4.9 6.8 3.9 2.3 4.0 1.7 2.9 0.8

65 14.4 25.1 14.1 14.0 12.9 10.6 5.4 8.8 8.9 6.0 -2.0 -3.6 -3.4 2.4 1.2 1.966=67+68 0.4 -2.5 1.1 1.3 0.4 1.0 10.2 5.8 4.1 5.7 3.3 1.6 1.4 2.5 3.6 1.6

67 -7.7 -15.5 20.3 0.0 8.6 6.8 72.3 -15.9 2.9 -8.1 -14.0 -19.9 10.0 -5.2 0.8 1.868 1.3 -1.1 -0.7 1.4 -0.5 0.3 2.1 10.5 4.3 7.9 5.7 4.0 0.7 3.2 3.9 1.5

69=70+71 2.9 10.2 -0.7 8.2 3.1 0.0 4.0 6.7 9.2 13.2 7.6 6.3 16.7 -1.8 0.0 -2.670 -1.8 12.8 15.2 -2.3 -2.2 -5.3 51.2 40.2 15.3 34.6 -32.9 -12.1 33.1 -28.3 24.5 -9.771 3.2 10.1 -1.8 9.1 3.5 0.4 0.8 3.3 8.3 10.0 14.9 8.2 15.2 0.8 -1.7 -2.072 : : : : : : : : 540.7 211.4 178.4 19.5 4.1 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a -0.2 10.8 15.7 6.9 -1.5 20.8 49.5 -8.0 5.1 2.8 -4.5 -3.1 -5.9 0.4 21.2 -1.4

Table C - Memorandum items75 6.6 4.8 4.2 4.6 3.9 4.1 7.3 4.9 2.6 4.8 4.3 2.2 1.3 0.7 1.4 2.876 2.5 3.8 1.9 8.3 7.6 4.9 4.8 -1.7 4.9 6.3 3.5 1.2 0.7 0.9 1.5 2.5

77=20+18-7678 3.5 2.8 5.7 4.3 4.9 5.5 2.7 -1.5 4.7 3.8 2.2 1.2 2.0 2.7 3.3 3.4

79 2.2 1.2 1.6 1.8 1.0 1.0 1.4 2.0 0.8 0.5 0.0 0.0 0.5 0.5 0.5 0.2



Bulgaria



Government revenue and expenditure1=2+6+7+8+9 Total revenue 335 11,323 17,751 28,163 25,780 24,717 25,729 28,004

2=3+4+5 Taxes 187 5,672 9,799 16,794 14,443 14,352 14,942 16,2113 . Indirect taxes 108 3,780 7,561 12,185 10,420 10,562 11,039 12,1794 . Direct taxes 77 1,860 2,117 4,246 3,833 3,621 3,713 3,8435 . Capital taxes 2 32 121 363 191 170 189 1896 Social contributions 87 2,968 4,420 5,393 5,273 4,970 5,417 5,5967 Sales (incl . own account capital formation) 12 798 1,380 1,899 2,099 2,094 2,352 2,3178 Other current revenue 50 1,886 2,138 3,665 3,296 2,428 2,226 2,7109 Capital revenue 0 0 14 412 669 873 792 1,170

10=11+..+18 Total expenditure 405 11,471 17,277 27,006 28,741 27,045 27,319 28,26611 Intermediate consumption 61 2,256 3,838 5,008 4,249 4,240 4,413 4,41012 Compensation of employees 87 2,826 4,327 6,414 6,842 6,765 6,977 7,10313 Interest 124 1,144 732 611 531 521 582 65414 Subsidies 9 279 348 797 807 849 726 73015 Social benefits 103 3,511 5,347 8,120 9,426 10,080 10,391 10,609

15a of which other than transfers in kind 89 3,390 4,806 7,010 8,271 8,857 8,925 9,08116 Other current expenditure 11 245 778 1,914 3,105 913 1,240 1,47917 Capital transfers payable 0 99 342 309 270 254 249 55118 Capital investments 9 1,112 1,565 3,834 3,512 3,423 2,741 2,73019 of which, gross fixed capital formation 9 1,092 1,728 4,056 3,616 3,432 2,757 2,799

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -70 -148 474 1,157 -2,961 -2,328 -1,590 -262


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 130 -59 -19 36 30 -47 -26

22=23-29 Net financial transactions : -279 534 1,176 -2,997 -2,358 -1,543 -23623=24+..+28 Net acquisition of financial assets : -376 -2,161 748 -1,372 -2,126 -848 2,088

24 Currency and deposits : 504 -610 770 -1,290 -1,773 -748 1,86725 Debt securities : 55 0 0 0 0 0 026 Loans : 33 302 -463 11 -192 -64 -4627 Shares and other equity : -991 -697 -84 512 26 -322 -26528 Other financial assets : 23 -1,155 525 -604 -187 286 532

29=30+..+33 Net incurrence of liabilities : -97 -2,694 -428 1,625 232 695 2,32430 Currency and deposits : - - - - - - -31 Debt securities : -275 -2,248 -496 -103 827 488 2,42132 Loans : 151 -605 -549 512 403 296 -5033 Other liabilities : 26 159 616 1,216 -997 -89 -46


35=44(t)-44(t-1)-23 Other changes in financial assets : 1,140 1,140 561 568 710 356 72036=50(t)-50(t-1)-29 Other changes in liabilities : 797 953 -250 432 334 -59 -272

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 343 187 810 136 376 415 992

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 21,607 17,884 22,243 21,439 20,024 19,532 22,34045 Currency and deposits : 3,695 5,104 10,183 8,997 7,305 6,557 8,99646 Debt securities : 1,293 0 0 0 0 0 047 Loans : 5,311 4,016 1,300 1,254 1,095 1,041 96548 Shares and other equity : 10,039 6,978 6,762 7,784 8,377 8,402 8,312

48a of which, Investment fund shares : 0 0 0 0 0 0 049 Other financial assets : 1,268 1,786 3,997 3,405 3,246 3,532 4,067

50=51+..+54 Liabilities : 17,876 15,386 15,199 17,256 17,822 18,459 20,51151 Currency and deposits : - - - - - - -52 Debt securities : 9,718 7,755 6,003 6,260 7,283 7,690 9,84953 Loans : 7,598 5,463 3,482 4,135 4,615 4,906 4,76354 Other liabilities : 560 2,168 5,714 6,861 5,925 5,863 5,899

55=44-50 Financial net worth : 3,731 2,498 7,044 4,183 2,201 1,073 1,82956=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : -148 474 1,157 -2,961 -2,328 -1,590 -262

58=64(t)-64(t-1) Change in Government Debt : : -2,222 -879 511 1,462 837 1,41059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -1,748 278 -2,450 -866 -752 1,147

60=23 Net acquisition of financial assets : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : :

62 Valuation effects and other changes in volume in government debt : : : : : : : :

63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : 19,872 12,498 9,481 9,992 11,453 12,291 13,700

65 . Currency and deposits : - - - - - - -66=67+68 . Debt securities : 12,274 7,035 6,003 5,865 6,846 7,392 8,953

67 .. short term : 185 15 0 0 133 0 068 .. long term : 12,089 7,020 6,003 5,865 6,713 7,392 8,953

69=70+71 . Loans : 7,598 5,463 3,478 4,126 4,608 4,899 4,74770 .. short term : 4 4 19 21 153 348 1771 .. long term : 7,594 5,459 3,459 4,105 4,455 4,551 4,73072 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 125 112 99 87

74=45+46+48a Government liquid assets : 4,989 5,104 10,184 8,997 7,305 6,557 8,996

Table C - Memorandum items75 Government final consumption expenditure 196 5,595 8,544 12,474 12,223 12,320 12,799 12,97176 Consumption of fixed capital 45 1,190 1,219 1,841 2,077 2,187 2,295 2,248

77=20+18-76 Net savings and capital transfers -106 -226 820 3,150 -1,525 -1,091 -1,143 22078 GDP 1,268 27,928 46,651 72,756 72,986 74,771 80,759 82,040




Bulgaria



Government revenue and expenditure1=2+6+7+8+9 30,561 31,583 34,367 33,191 36,565 -10,555 25,325 7,459 14,337

2=3+4+5 16,974 17,072 18,650 19,741 21,220 20,295 925 03 12,586 12,337 13,628 14,449 15,146 14,677 469 -4 4,188 4,527 4,798 5,038 5,808 5,618 190 -5 200 209 224 254 267 - 267 -6 6,116 6,575 6,966 7,370 8,457 - - 8,4577 2,228 2,463 2,825 2,794 3,465 2,325 1,134 58 3,629 3,488 2,613 3,014 2,605 -10,555 2,006 5,279 5,8759 1,615 1,984 3,313 274 819 0 699 119 -

10=11+..+18 30,858 36,121 35,854 33,021 35,421 -10,555 24,357 7,220 14,40011 4,668 4,595 4,661 4,550 4,916 2,792 2,093 3012 7,776 7,964 8,348 8,490 9,380 6,084 3,205 9113 603 723 823 841 806 -7 776 37 014 1,066 1,119 1,624 1,329 1,313 1,261 51 -15 11,358 12,117 12,376 13,066 13,702 837 102 12,763

15a 9,735 10,233 10,614 11,008 11,373 837 23 10,51316 1,786 2,187 1,843 1,162 2,146 -10,549 10,582 841 1,27217 437 3,279 633 1,337 1,239 0 1,233 5 118 3,164 4,137 5,545 2,245 1,919 791 884 24419 3,324 4,355 5,880 2,459 2,271 1,061 966 244

Government deficit

20=1-10 -296 -4,538 -1,487 171 1,145 969 239 -63


21=20-22 -5 -27 -5 20 -21 -15 -6 0

22=23-29 -291 -4,511 -1,482 151 1,165 984 245 -6423=24+..+28 302 4,120 -1,914 6,050 -232 -100 -515 229 154

24 -1,095 1,368 -1,793 5,532 -817 0 -1,088 319 -4725 1 0 0 0 0 -92 0 0 9226 -50 824 -407 566 -36 -8 -28 0 027 -228 864 -34 -63 -27 0 -26 -1 028 1,674 1,064 320 15 648 0 628 -89 109

29=30+..+33 593 8,632 -432 5,899 -1,397 -100 -1,498 -16 21730 - - - - - - - - -31 -434 5,118 3,375 3,658 -1,854 -92 -1,762 0 032 870 3,300 -2,981 968 -83 -8 -92 17 033 157 214 -825 1,273 540 0 355 -33 217

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 : : : : : : : :

35=44(t)-44(t-1)-23 -963 729 -132 376 -268 -1 -268 0 136=50(t)-50(t-1)-29 -316 465 80 768 874 -1 888 -13 0

37=35-36 = 55(t)-55(t-1)-22 -647 264 -212 -393 -1,142 -1,155 13 1

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :

Government balance sheet 39=40+44 : : : : : : : : :

40=41+42+43 : : : : : : : :41 : : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 21,679 26,528 24,482 30,908 30,409 -916 27,616 2,053 1,65745 7,902 9,318 7,521 13,061 12,233 0 10,922 1,242 7046 1 1 1 1 1 -766 1 0 76647 888 1,738 1,360 1,933 1,857 -149 1,965 41 048 7,148 8,597 8,408 8,731 8,504 0 8,240 204 60

48a 0 0 0 0 0 : : :49 5,740 6,873 7,192 7,182 7,814 -1 6,488 566 761

50=51+..+54 20,787 29,883 29,532 36,200 35,677 -916 33,561 2,289 74351 - - - - - - - - -52 9,194 14,699 18,111 22,565 21,595 -766 22,239 122 053 5,541 8,859 5,912 6,901 6,793 -149 5,895 1,047 054 6,053 6,325 5,510 6,734 7,290 -1 5,428 1,120 743

55=44-50 891 -3,356 -5,050 -5,291 -5,268 -5,946 -236 91456=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -296 -4,538 -1,487 171 1,145 969 239 -63

58=64(t)-64(t-1) 278 8,745 493 4,645 -1,954 -96 -1,863 5 059 = 57+58 = 60+..+63 -19 4,207 -993 4,816 -810 -96 -895 244 -63

60=23 : 4,118 -1,908 6,050 -232 -100 -515 229 154

61=(-)33 : -214 825 -1,273 -540 0 -355 33 -217

62 : 326 99 20 -22 0 -10 -12 0

63 : -22 -9 19 -16 4 -15 -6 064=65+66+69 13,978 22,724 23,217 27,862 25,908 -878 25,616 1,169 0

65 - - - - - - - - -66=67+68 8,453 13,881 17,317 20,971 19,126 -729 19,733 122 0

67 258 1,855 0 0 0 0 0 0 068 8,196 12,026 17,317 20,971 19,126 -729 19,733 122 0

69=70+71 5,525 8,843 5,900 6,891 6,782 -149 5,884 1,047 070 16 3,368 199 93 26 -15 9 33 071 5,508 5,475 5,701 6,798 6,756 -134 5,875 1,015 072 0 0 0 0 0 : : :73 74 61 48 35 22 : : :

74=45+46+48a 7,903 9,320 7,523 13,063 12,234 : : :

Table C - Memorandum items75 13,957 14,110 14,290 14,738 15,770 8,021 5,357 2,39276 2,118 2,131 2,345 2,434 2,610 1,470 1,114 27

77=20+18-76 749 -2,532 1,714 -18 453 290 10 15478 81,866 83,756 88,575 94,130 101,043

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Government revenue and expenditure1=2+6+7+8+9 Total revenue 26.4 40.5 38.1 38.7 35.3 33.1 31.9 34.1 37.3 37.7 38.8 35.3 36.2 -10.4 25.1 7.4 14.2

2=3+4+5 Taxes 14.7 20.3 21.0 23.1 19.8 19.2 18.5 19.8 20.7 20.4 21.1 21.0 21.0 20.1 0.9 0.03 . Indirect taxes 8.5 13.5 16.2 16.7 14.3 14.1 13.7 14.8 15.4 14.7 15.4 15.4 15.0 14.5 0.5 -4 . Direct taxes 6.1 6.7 4.5 5.8 5.3 4.8 4.6 4.7 5.1 5.4 5.4 5.4 5.7 5.6 0.2 -5 . Capital taxes 0.1 0.1 0.3 0.5 0.3 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 - 0.3 -6 Social contributions 6.8 10.6 9.5 7.4 7.2 6.6 6.7 6.8 7.5 7.9 7.9 7.8 8.4 - - 8.47 Sales (incl. own account capital formation) 0.9 2.9 3.0 2.6 2.9 2.8 2.9 2.8 2.7 2.9 3.2 3.0 3.4 2.3 1.1 0.08 Other current revenue 3.9 6.8 4.6 5.0 4.5 3.2 2.8 3.3 4.4 4.2 3.0 3.2 2.6 -10.4 2.0 5.2 5.89 Capital revenue 0.0 0.0 0.0 0.6 0.9 1.2 1.0 1.4 2.0 2.4 3.7 0.3 0.8 0.0 0.7 0.1 -

10=11+..+18 Total expenditure 32.0 41.1 37.0 37.1 39.4 36.2 33.8 34.5 37.7 43.1 40.5 35.1 35.1 -10.4 24.1 7.1 14.311 Intermediate consumption 4.8 8.1 8.2 6.9 5.8 5.7 5.5 5.4 5.7 5.5 5.3 4.8 4.9 2.8 2.1 0.012 Compensation of employees 6.9 10.1 9.3 8.8 9.4 9.0 8.6 8.7 9.5 9.5 9.4 9.0 9.3 6.0 3.2 0.113 Interest 9.8 4.1 1.6 0.8 0.7 0.7 0.7 0.8 0.7 0.9 0.9 0.9 0.8 0.0 0.8 0.0 0.014 Subsidies 0.7 1.0 0.7 1.1 1.1 1.1 0.9 0.9 1.3 1.3 1.8 1.4 1.3 1.2 0.1 -15 Social benefits 8.1 12.6 11.5 11.2 12.9 13.5 12.9 12.9 13.9 14.5 14.0 13.9 13.6 0.8 0.1 12.6

15a of which other than transfers in kind 7.0 12.1 10.3 9.6 11.3 11.8 11.1 11.1 11.9 12.2 12.0 11.7 11.3 0.8 0.0 10.416 Other current expenditure 0.9 0.9 1.7 2.6 4.3 1.2 1.5 1.8 2.2 2.6 2.1 1.2 2.1 -10.4 10.5 0.8 1.317 Capital transfers payable 0.0 0.4 0.7 0.4 0.4 0.3 0.3 0.7 0.5 3.9 0.7 1.4 1.2 0.0 1.2 0.0 0.018 Capital investments 0.7 4.0 3.4 5.3 4.8 4.6 3.4 3.3 3.9 4.9 6.3 2.4 1.9 0.8 0.9 0.219 of which, gross fixed capital formation 0.7 3.9 3.7 5.6 5.0 4.6 3.4 3.4 4.1 5.2 6.6 2.6 2.2 1.1 1.0 0.2

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -5.5 -0.5 1.0 1.6 -4.1 -3.1 -2.0 -0.3 -0.4 -5.4 -1.7 0.2 1.1 1.0 0.2 -0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.5 -0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -1.0 1.1 1.6 -4.1 -3.2 -1.9 -0.3 -0.4 -5.4 -1.7 0.2 1.2 1.0 0.2 -0.123=24+..+28 Net acquisition of financial assets : -1.3 -4.6 1.0 -1.9 -2.8 -1.1 2.5 0.4 4.9 -2.2 6.4 -0.2 -0.1 -0.5 0.2 0.2

24 Currency and deposits : 1.8 -1.3 1.1 -1.8 -2.4 -0.9 2.3 -1.3 1.6 -2.0 5.9 -0.8 0.0 -1.1 0.3 0.025 Debt securities : 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 0.126 Loans : 0.1 0.6 -0.6 0.0 -0.3 -0.1 -0.1 -0.1 1.0 -0.5 0.6 0.0 0.0 0.0 0.0 0.027 Shares and other equity : -3.6 -1.5 -0.1 0.7 0.0 -0.4 -0.3 -0.3 1.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.028 Other financial assets : 0.1 -2.5 0.7 -0.8 -0.2 0.4 0.6 2.0 1.3 0.4 0.0 0.6 0.0 0.6 -0.1 0.1

29=30+..+33 Net incurrence of liabilities : -0.3 -5.8 -0.6 2.2 0.3 0.9 2.8 0.7 10.3 -0.5 6.3 -1.4 -0.1 -1.5 0.0 0.230 Currency and deposits : - - - - - - - - - - - - - - - -31 Debt securities : -1.0 -4.8 -0.7 -0.1 1.1 0.6 3.0 -0.5 6.1 3.8 3.9 -1.8 -0.1 -1.7 0.0 0.032 Loans : 0.5 -1.3 -0.8 0.7 0.5 0.4 -0.1 1.1 3.9 -3.4 1.0 -0.1 0.0 -0.1 0.0 0.033 Other liabilities : 0.1 0.3 0.8 1.7 -1.3 -0.1 -0.1 0.2 0.3 -0.9 1.4 0.5 0.0 0.4 0.0 0.2

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : : : : : : : : : : : : : : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : 4.1 2.4 0.8 0.8 1.0 0.4 0.9 -1.2 0.9 -0.1 0.4 -0.3 0.0 -0.3 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 2.9 2.0 -0.3 0.6 0.4 -0.1 -0.3 -0.4 0.6 0.1 0.8 0.9 0.0 0.9 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 1.2 0.4 1.1 0.2 0.5 0.5 1.2 -0.8 0.3 -0.2 -0.4 -1.1 -1.1 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : : :

Government balance sheet 39=40+44 Total assets : : : : : : : : : : : : : : : : :

40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : : : : : : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 77.4 38.3 30.6 29.4 26.8 24.2 27.2 26.5 31.7 27.6 32.8 30.1 -0.9 27.3 2.0 1.645 Currency and deposits : 13.2 10.9 14.0 12.3 9.8 8.1 11.0 9.7 11.1 8.5 13.9 12.1 0.0 10.8 1.2 0.146 Debt securities : 4.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.8 0.0 0.0 0.847 Loans : 19.0 8.6 1.8 1.7 1.5 1.3 1.2 1.1 2.1 1.5 2.1 1.8 -0.1 1.9 0.0 0.048 Shares and other equity : 35.9 15.0 9.3 10.7 11.2 10.4 10.1 8.7 10.3 9.5 9.3 8.4 0.0 8.2 0.2 0.1

48a of which, Investment fund shares : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :49 Other financial assets : 4.5 3.8 5.5 4.7 4.3 4.4 5.0 7.0 8.2 8.1 7.6 7.7 0.0 6.4 0.6 0.8

50=51+..+54 Liabilities : 64.0 33.0 20.9 23.6 23.8 22.9 25.0 25.4 35.7 33.3 38.5 35.3 -0.9 33.2 2.3 0.751 Currency and deposits : - - - - - - - - - - - - - - - -52 Debt securities : 34.8 16.6 8.3 8.6 9.7 9.5 12.0 11.2 17.5 20.4 24.0 21.4 -0.8 22.0 0.1 0.053 Loans : 27.2 11.7 4.8 5.7 6.2 6.1 5.8 6.8 10.6 6.7 7.3 6.7 -0.1 5.8 1.0 0.054 Other liabilities : 2.0 4.6 7.9 9.4 7.9 7.3 7.2 7.4 7.6 6.2 7.2 7.2 0.0 5.4 1.1 0.7

55=44-50 Financial net worth : 13.4 5.4 9.7 5.7 2.9 1.3 2.2 1.1 -4.0 -5.7 -5.6 -5.2 -5.9 -0.2 0.956=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : -0.5 1.0 1.6 -4.1 -3.1 -2.0 -0.3 -0.4 -5.4 -1.7 0.2 1.1 1.0 0.2 -0.1

58=64(t)-64(t-1) Change in Government Debt : : -4.8 -1.2 0.7 2.0 1.0 1.7 0.3 10.4 0.6 4.9 -1.9 -0.1 -1.8 0.0 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -3.7 0.4 -3.4 -1.2 -0.9 1.4 0.0 5.0 -1.1 5.1 -0.8 -0.1 -0.9 0.2 -0.1

60=23 Net acquisition of financial assets : : : : : : : : : 4.9 -2.2 6.4 -0.2 -0.1 -0.5 0.2 0.2

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.3 0.9 -1.4 -0.5 0.0 -0.4 0.0 -0.2

62Valuation effects and other changes in volume in government debt : : : : : : : : : 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0

63 Statistical discrepancies : : : : : : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 71.2 26.8 13.0 13.7 15.3 15.2 16.7 17.1 27.1 26.2 29.6 25.6 -0.9 25.4 1.2 0.0

65 . Currency and deposits : - - - - - - - - - - - - - - - -66=67+68 . Debt securities : 44.0 15.1 8.3 8.0 9.2 9.2 10.9 10.3 16.6 19.6 22.3 18.9 -0.7 19.5 0.1 0.0

67 .. short term : 0.7 0.0 0.0 0.0 0.2 0.0 0.0 0.3 2.2 0.0 0.0 0.0 0.0 0.0 0.0 0.068 .. long term : 43.3 15.0 8.3 8.0 9.0 9.2 10.9 10.0 14.4 19.6 22.3 18.9 -0.7 19.5 0.1 0.0

69=70+71 . Loans : 27.2 11.7 4.8 5.7 6.2 6.1 5.8 6.7 10.6 6.7 7.3 6.7 -0.1 5.8 1.0 0.070 .. short term : 0.0 0.0 0.0 0.0 0.2 0.4 0.0 0.0 4.0 0.2 0.1 0.0 0.0 0.0 0.0 0.071 .. long term : 27.2 11.7 4.8 5.6 6.0 5.6 5.8 6.7 6.5 6.4 7.2 6.7 -0.1 5.8 1.0 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :73 Intergovernmental lending (borrowing)* : : : : 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 : : :

74=45+46+48a Government liquid assets : 17.9 10.9 14.0 12.3 9.8 8.1 11.0 9.7 11.1 8.5 13.9 12.1 : : :

Table C - Memorandum items75 Government final consumption expenditure 15.4 20.0 18.3 17.1 16.7 16.5 15.8 15.8 17.0 16.8 16.1 15.7 15.6 7.9 5.3 2.476 Consumption of fixed capital 3.6 4.3 2.6 2.5 2.8 2.9 2.8 2.7 2.6 2.5 2.6 2.6 2.6 1.5 1.1 0.0

77=20+18-76 Net savings and capital transfers -8.3 -0.8 1.8 4.3 -2.1 -1.5 -1.4 0.3 0.9 -3.0 1.9 0.0 0.4 0.3 0.0 0.278 GDP



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Government revenue and expenditure1=2+6+7+8+9 0.1 8.2 16.7 8.8 7.1 29.5 14.3 -8.5 -4.1 4.1 8.8 9.1 3.3 8.8 -3.4 10.2

2=3+4+5 -1.0 18.0 19.7 10.4 18.5 29.6 11.6 -14.0 -0.6 4.1 8.5 4.7 0.6 9.2 5.8 7.53 2.6 24.6 25.0 16.2 18.0 13.6 20.2 -14.5 1.4 4.5 10.3 3.3 -2.0 10.5 6.0 4.84 -7.9 4.0 6.5 -7.5 16.8 85.7 -7.5 -9.7 -5.5 2.6 3.5 9.0 8.1 6.0 5.0 15.35 7.1 51.2 31.5 43.3 74.2 50.0 14.9 -47.5 -11.1 11.6 -0.1 5.5 4.6 7.1 13.3 5.36 6.7 16.3 10.5 8.4 -2.8 13.8 10.3 -2.2 -5.8 9.0 3.3 9.3 7.5 5.9 5.8 14.87 17.1 -5.3 4.4 32.4 -52.9 159.2 12.6 10.6 -0.3 12.3 -1.5 -3.9 10.6 14.7 -1.1 24.08 -10.2 -22.1 23.4 -7.9 14.4 -0.8 51.1 -10.1 -26.3 -8.3 21.7 33.9 -3.9 -25.1 15.3 -13.69 719.3 -13.6 4825.9 -29.5 62.6 30.4 -9.3 47.7 38.0 22.9 67.0 -91.7 199.1

10=11+..+18 5.8 6.1 10.3 10.9 4.4 32.6 12.8 6.4 -5.9 1.0 3.5 9.2 17.1 -0.7 -7.9 7.311 26.0 7.1 11.0 17.2 -0.9 19.3 10.3 -15.1 -0.2 4.1 -0.1 5.9 -1.6 1.5 -2.4 8.012 18.7 16.0 10.0 7.4 5.6 17.4 19.5 6.7 -1.1 3.1 1.8 9.5 2.4 4.8 1.7 10.513 -41.8 5.9 -4.7 -3.7 -5.6 2.6 -13.9 -13.1 -1.9 11.7 12.3 -7.8 20.0 13.8 2.2 -4.114 -0.9 23.9 9.5 -10.6 7.4 33.8 59.3 1.3 5.2 -14.5 0.5 46.0 5.0 45.2 -18.1 -1.315 -0.7 3.5 8.8 6.7 9.8 11.1 24.5 16.1 6.9 3.1 2.1 7.1 6.7 2.1 5.6 4.9

15a 11.0 1.9 10.7 7.8 9.7 9.3 21.6 18.0 7.1 0.8 1.8 7.2 5.1 3.7 3.7 3.316 20.1 -16.8 36.0 48.5 -27.3 106.1 64.2 62.2 -70.6 35.8 19.3 20.7 22.5 -15.7 -37.0 84.817 146.3 -34.5 28.2 33.0 -61.4 1482.8 -85.2 -12.9 -5.9 -1.8 121.2 -20.6 649.6 -80.7 111.3 -7.418 -1.5 1.7 13.8 17.1 30.3 49.2 26.1 -8.4 -2.5 -19.9 -0.4 15.9 30.8 34.0 -59.5 -14.519 -3.3 2.5 19.1 22.2 29.0 49.0 22.1 -10.9 -5.1 -19.7 1.5 18.8 31.0 35.0 -58.2 -7.6

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -2.7 1.6 -0.9 -11.4 12.0 3.6 3.6 -6.2 -9.9 -4.2 10.7 1.3 19.0 -7.2 24.7 -0.7

24 27.4 28.2 21.1 -10.9 38.8 32.2 8.2 -12.7 -19.7 -10.2 28.5 -12.2 17.3 -19.2 73.6 -6.325 -53.1 -3.8 -102.9 0.0 325.0 -78.8 100.0 -50.0 0.0 0.0 -100.0 0.0 0.0 0.0 0.026 -0.4 0.8 -3.5 9.2 2.6 -46.8 -26.1 0.8 -15.3 -5.9 -4.4 -5.2 92.9 -23.4 41.6 -1.927 -3.5 -9.4 -23.6 -9.9 -9.7 -9.7 -1.3 7.6 0.3 -3.8 -3.2 -2.7 12.1 -0.4 -0.7 -0.328 -24.0 14.6 110.3 -39.3 41.1 32.4 15.1 -15.1 -5.5 8.8 15.1 41.2 18.5 4.7 0.2 9.0

29=30+..+33 -1.7 3.2 -4.0 -15.7 9.7 0.1 -2.7 10.7 1.3 3.9 12.6 2.9 41.5 -1.4 20.0 -3.93031 0.3 1.0 -8.1 -23.3 0.9 -4.5 -7.3 -1.7 13.2 6.7 31.5 -4.4 55.7 23.0 20.2 -8.232 -7.3 3.5 1.5 -10.3 -19.8 -8.3 -13.9 14.7 9.7 6.4 -1.0 18.3 59.6 -33.7 16.4 -1.233 15.3 24.6 2.6 9.8 115.5 15.5 12.0 21.3 -14.5 -1.5 -0.8 2.7 3.5 -13.0 23.1 8.0


35=44(t)-44(t-1)-23 -3.7 -7.0 -0.9 6.0 -0.5 1.4 2.7 2.6 3.3 1.8 3.7 -4.3 3.4 -0.5 1.5 -0.936=50(t)-50(t-1)-29 -5.2 -6.3 -0.1 5.6 -4.1 -2.4 -1.6 2.8 1.9 -0.3 -1.5 -1.5 2.2 0.3 2.6 2.4

37=35-36 = 55(t)-55(t-1)-22 12.2 -13.8 -11.3 10.5 21.8 18.3 16.0 1.9 9.0 18.9 92.5 -35.4 29.6 6.3 7.8 21.6

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -6.3 -5.4 -1.8 -5.4 11.5 5.0 6.3 -3.6 -6.6 -2.5 14.4 -3.0 22.4 -7.7 26.2 -1.645 22.4 24.5 19.8 -9.2 38.6 32.1 9.0 -11.7 -18.8 -10.2 37.2 -12.2 17.9 -19.3 73.7 -6.346 -56.5 -23.8 -100.0 0.0 312.5 -78.8 100.0 -50.0 0.0 0.0 -100.0 0.7 -0.7 0.0 0.047 -13.9 -26.2 -9.7 22.6 -4.9 -53.5 -26.8 -3.6 -12.7 -4.9 -7.3 -8.1 95.8 -21.8 42.1 -3.948 -1.7 -7.8 -22.6 -1.3 -7.9 -1.3 6.6 15.1 7.6 0.3 -1.1 -14.0 20.3 -2.2 3.8 -2.6

48a49 -24.4 14.5 110.3 -39.3 46.8 32.4 15.1 -14.8 -4.7 8.8 15.1 41.2 19.7 4.6 -0.1 8.8

50=51+..+54 -6.9 -3.0 -4.1 -10.2 5.6 -2.3 -4.3 13.5 3.3 3.6 11.1 1.3 43.8 -1.2 22.6 -1.45152 -4.8 -6.6 -8.0 -19.5 -4.3 -8.5 -11.6 4.3 16.3 5.6 28.1 -6.7 59.9 23.2 24.6 -4.353 -13.4 -3.3 -0.4 -6.8 -21.9 -7.5 -11.8 18.8 11.6 6.3 -2.9 16.3 59.9 -33.3 16.7 -1.654 15.1 34.9 8.7 33.2 110.4 12.7 11.2 20.1 -13.7 -1.0 0.6 2.6 4.5 -12.9 22.2 8.3

55=44-50 -0.5 -27.7 27.1 40.5 47.7 37.0 39.3 -40.6 -47.4 -51.2 70.4 -51.3 -476.5 50.5 4.8 -0.456=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -2.0 -0.8 4.7 3.2 7.8 6.2 11.2 -31.2 -23.3 -13.9 -2.1 -2.2 -32.5 -6.5 0.7 4.1

58=64(t)-64(t-1) -13.1 -8.5 -7.4 -15.1 -10.5 -7.4 -8.5 5.4 14.6 7.3 11.5 2.0 62.6 2.2 20.0 -7.059 = 57+58 = 60+..+63 -15.0 -9.4 -2.7 -11.9 -2.7 -1.2 2.7 -25.8 -8.7 -6.6 9.3 -0.1 30.1 -4.4 20.7 -2.9

60=23 : : : : : : : : : : : : 29.5 -8.4 26.1 -0.8

61=(-)33 : : : : : : : : : : : : -1.5 3.6 -5.5 -1.9

62 : : : : : : : : : : : : 2.3 0.4 0.1 -0.1

63 : : : : : : : : : : : : -0.2 0.0 0.1 -0.164=65+66+69 -13.1 -8.5 -7.4 -15.1 -10.5 -7.4 -8.5 5.4 14.6 7.3 11.5 2.0 62.6 2.2 20.0 -7.0

6566=67+68 -12.9 -11.4 -11.5 -20.6 -1.6 -7.3 -6.4 -2.3 16.7 8.0 21.1 -5.6 64.2 24.8 21.1 -8.8

67 -17.1 -36.1 2.5 -80.2 -100.0 -100.0 620.0 -100.068 -12.8 -11.1 -11.6 -20.0 -1.4 -7.3 -6.4 -2.3 14.4 10.1 21.1 -8.5 46.7 44.0 21.1 -8.8

69=70+71 -13.4 -3.3 -0.4 -6.8 -21.9 -7.5 -11.9 18.6 11.7 6.3 -3.1 16.4 60.1 -33.3 16.8 -1.670 -41.7 0.2 -57.7 134.1 -11.0 75.0 209.6 8.7 622.9 127.7 -95.2 -3.1 20500.6 -94.1 -53.0 -71.771 -13.4 -3.3 -0.3 -6.9 -21.9 -7.6 -12.2 18.7 8.5 2.2 3.9 16.5 -0.6 4.1 19.2 -0.672 : : : : : : : :73 : : : : : : : : -10.3 -11.4 -12.9 -14.9 -17.5 -20.9 -27.1 -36.9

74=45+46+48a -0.3 18.4 10.1 -9.2 38.6 32.1 9.0 -11.7 -18.8 -10.2 37.2 -12.2 17.9 -19.3 73.6 -6.3

Table C - Memorandum items75 8.8 12.6 8.2 6.9 13.9 8.8 17.8 -2.0 0.8 3.9 1.3 7.6 1.1 1.3 3.1 7.076 3.5 -1.1 -1.5 3.7 15.6 14.4 14.2 12.8 5.3 5.0 -2.1 -5.7 0.6 10.1 3.8 7.2

77=20+18-7678 9.9 7.5 12.5 14.1 14.1 19.3 14.6 0.3 2.4 8.0 1.6 -0.2 2.3 5.8 6.3 7.3

79 : : : : : : : : : : : : : : : :



Czechia



Government revenue and expenditure1=2+6+7+8+9 Total revenue 642,448 889,658 1,282,523 1,555,614 1,523,022 1,558,224 1,626,020 1,646,284

2=3+4+5 Taxes 323,534 434,134 631,558 730,581 703,519 710,708 763,431 784,1463 . Indirect taxes 180,181 249,866 351,621 417,216 424,975 441,350 481,136 501,8184 . Direct taxes 142,960 183,681 279,200 313,109 278,309 269,131 282,066 282,0975 . Capital taxes 393 587 737 256 235 227 229 2316 Social contributions 225,555 342,252 482,138 599,217 559,694 577,920 592,514 600,2657 Sales (incl . own account capital formation) 62,186 79,255 107,385 135,270 139,603 138,410 146,229 148,0398 Other current revenue 23,573 31,488 51,020 60,282 67,177 73,227 70,375 74,3789 Capital revenue 7,600 2,529 10,422 30,264 53,029 57,959 53,471 39,456

10=11+..+18 Total expenditure 839,686 974,710 1,380,188 1,635,279 1,737,233 1,724,241 1,735,916 1,805,83611 Intermediate consumption 128,382 169,241 232,826 279,007 292,327 289,713 280,873 259,17912 Compensation of employees 134,138 185,980 284,050 334,308 352,049 353,594 349,916 359,39713 Interest 15,895 18,163 35,303 40,013 48,315 52,043 53,023 57,83114 Subsidies 34,857 52,355 49,284 57,662 68,974 70,544 91,141 91,12115 Social benefits 205,585 356,266 471,665 583,445 629,301 638,333 651,133 663,190


Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0 0 -10,872 -1,878 4,429 -6,708 -4,682

22=23-29 Net financial transactions : -85,052 -97,665 -68,793 -212,333 -170,446 -103,188 -154,87023=24+..+28 Net acquisition of financial assets : -15,849 -26,826 45,054 3,943 -6,036 13,869 153,351

24 Currency and deposits : -2,871 117,482 76,341 -60,820 -10,973 -35,749 129,98625 Debt securities : -48 -827 -5,047 -2,477 -7,722 -558 -1,77426 Loans : 4,204 -49,643 4,923 9,141 19,303 7,040 2,59527 Shares and other equity : -15,352 -108,734 -25,630 -8,993 13 -273 1,82528 Other financial assets : -1,782 14,896 -5,533 67,092 -6,657 43,409 20,719

29=30+..+33 Net incurrence of liabilities : 69,203 70,839 113,847 216,276 164,410 117,057 308,22130 Currency and deposits : 0 -1,695 700 5 -1,143 -5,256 5,18931 Debt securities : 41,848 74,218 72,668 162,023 169,946 131,094 218,38032 Loans : 16,913 -25,460 2,553 24,249 7,246 2,982 -52933 Other liabilities : 10,442 23,776 37,926 29,999 -11,639 -11,763 85,181

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : 84,010 274,390 431,408 -123,130 -291,801 15,459 -118,585

35=44(t)-44(t-1)-23 Other changes in financial assets : 32,055 147,673 -165,307 48,465 -111,372 101,951 -54,64036=50(t)-50(t-1)-29 Other changes in liabilities : -23,172 -15,385 91,226 18,175 30,392 24,694 91,579

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 55,227 163,058 -256,533 30,290 -141,764 77,257 -146,219

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : 139,237 437,448 174,875 -92,840 -433,565 92,716 -264,804

Government balance sheet 39=40+44 Total assets : 10,022,577 10,630,575 11,719,930 11,768,517 11,788,170 11,868,558 11,817,943

40=41+42+43 Non-financial assets 8,145,552 11,108,531 11,980,311 13,266,376 13,367,371 13,269,616 13,465,824 13,513,92041 Fixed assets 2,948,847 4,168,542 4,805,297 5,523,890 5,553,914 5,527,097 5,478,464 5,405,99542 Other produced assets 211,041 246,823 213,378 201,418 191,085 227,268 271,784 278,02243 Non-produced assets 4,985,664 6,693,166 6,961,636 7,541,068 7,622,372 7,515,251 7,715,576 7,829,903

44=45+..+49 Financial assets : 1,085,954 1,349,736 1,546,446 1,598,854 1,481,446 1,597,266 1,695,97745 Currency and deposits : 147,926 358,237 495,812 435,449 352,723 400,684 529,68646 Debt securities : 25,661 24,110 21,009 18,306 13,314 12,973 11,99647 Loans : 218,796 95,213 78,915 86,310 102,961 113,432 113,87048 Shares and other equity : 458,155 594,311 666,565 711,786 698,394 717,029 666,621

48a of which, Investment fund shares : 411 156 558 3,479 1,247 1,440 1,29249 Other financial assets : 235,416 277,865 284,145 347,003 314,054 353,148 373,804

50=51+..+54 Liabilities : 580,243 1,071,577 1,397,931 1,632,382 1,827,184 1,968,935 2,368,73551 Currency and deposits : 0 10,170 9,791 9,772 8,651 3,410 8,50252 Debt securities : 274,598 701,180 973,471 1,152,267 1,342,064 1,498,051 1,802,51953 Loans : 129,894 190,052 161,113 184,128 190,538 195,408 194,92154 Other liabilities : 175,751 170,175 253,556 286,215 285,931 272,066 362,793

55=44-50 Financial net worth : 505,711 278,159 148,515 -33,528 -345,738 -371,669 -672,75856=39-50=40+55 Net worth : 9,442,334 9,558,998 10,321,999 10,136,135 9,960,986 9,899,623 9,449,208


58=64(t)-64(t-1) Change in Government Debt 5,027 63,335 36,549 82,135 182,245 161,101 126,327 198,93759 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -192,211 -21,717 -61,116 2,470 -31,966 -4,916 16,431 39,385

60=23 Net acquisition of financial assets -155,704 -15,849 -26,826 45,054 3,943 -6,036 13,869 153,351

61=(-)33 Incurrence in liabilities not in government debt -32,960 -10,442 -23,776 -37,926 -29,999 11,639 11,763 -85,181

62 Valuation effects and other changes in volume in government debt -3,547 4,574 -10,514 6,214 -4,032 -14,948 -2,493 -24,103

63 Statistical discrepancies 0 0 0 -10,872 -1,878 4,429 -6,708 -4,68264=65+66+69 Government debt (nominal / face value) : 405,418 910,309 1,136,819 1,319,064 1,480,165 1,606,492 1,805,429

65 . Currency and deposits : 0 10,119 9,650 9,639 8,515 3,312 8,40666=67+68 . Debt securities : 275,497 710,353 967,082 1,125,054 1,280,259 1,408,153 1,603,476

67 .. short term : 162,264 82,548 58,431 73,625 96,225 137,332 178,98468 .. long term : 113,233 627,805 908,651 1,051,429 1,184,034 1,270,821 1,424,492

69=70+71 . Loans : 129,921 189,837 160,087 184,371 191,391 195,027 193,54770 .. short term : 22,281 11,991 3,151 9,149 8,005 9,010 3,67571 .. long term : 107,640 177,846 156,936 175,222 183,386 186,017 189,87272 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0







Czechia



Government revenue and expenditure1=2+6+7+8+9 1,694,779 1,739,953 1,888,461 1,917,167 2,044,279 -281,470 1,460,667 580,991 284,091

2=3+4+5 815,590 826,014 894,342 948,209 1,017,871 750,900 266,971 03 521,920 510,721 562,268 586,760 628,301 493,053 135,248 04 293,516 315,283 332,063 361,432 389,541 257,847 131,694 05 154 10 11 17 29 0 29 06 606,639 628,548 662,916 703,045 759,528 478,152 792 280,5847 149,641 152,371 155,355 157,844 163,313 84,789 78,421 1038 82,121 79,806 85,515 77,311 71,068 -271,686 121,401 217,949 3,4049 40,788 53,214 90,333 30,758 32,499 -9,784 25,425 16,858 0

10=11+..+18 1,745,908 1,830,514 1,916,390 1,882,525 1,966,084 -281,470 1,432,345 539,300 275,90911 269,831 274,009 283,436 291,412 296,190 140,248 154,166 1,77612 366,707 379,553 397,775 419,374 461,783 231,068 226,373 4,34213 55,017 56,136 49,002 43,793 37,799 -44 36,907 935 114 95,779 99,399 104,995 107,836 109,671 64,543 45,128 015 677,951 695,191 710,045 729,235 749,651 607,483 3,055 139,113

15a 544,752 555,557 568,422 581,461 597,318 594,255 3,055 816 90,941 91,945 96,080 101,046 105,040 -271,642 223,561 22,771 130,35017 39,332 60,339 40,869 35,642 30,878 -9,784 34,717 5,945 018 150,350 173,942 234,188 154,187 175,072 93,818 80,927 32719 152,388 177,982 236,312 155,201 171,113 89,280 81,508 325

Government deficit

20=1-10 -51,129 -90,561 -27,929 34,642 78,195 28,322 41,691 8,182


21=20-22 -7,220 -1,259 -25 3,554 -2,794 -5,403 5,571 -2,962

22=23-29 -43,909 -89,302 -27,904 31,088 80,989 33,725 36,120 11,14423=24+..+28 -18,823 -105,128 12,533 -57,919 113,208 -22,155 85,701 37,524 12,138

24 -26,105 -105,892 3,570 30,338 114,765 -21,926 91,076 36,029 9,58625 -1,478 -1,784 255 -1,340 -40 282 -248 15 -8926 6,862 964 -5,216 -9,452 -14,297 421 -14,979 261 027 1,324 -1,291 -4,439 -1,250 -6,609 0 -5,018 -1,592 128 574 2,875 18,363 -76,215 19,389 -932 14,870 2,811 2,640

29=30+..+33 25,086 -15,826 40,437 -89,007 32,219 -22,155 51,976 1,404 99430 -1,701 3,100 -4,637 3,122 -3,346 -21,926 18,580 - -31 23,778 -10,193 33,929 -52,918 19,396 282 19,744 -630 -32 -771 -8,508 -3,460 -29,210 -12,801 421 -9,140 -4,283 20133 3,780 -225 14,605 -10,001 28,970 -932 22,792 6,317 793

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 -614,664 -55,338 -151,589 -347,297 -215,290 : : :

35=44(t)-44(t-1)-23 -37,107 -28,107 -48,109 42,699 28,098 0 23,746 4,318 3436=50(t)-50(t-1)-29 -12,342 22,403 -36,242 -27,981 -95,464 0 -96,083 625 -6

37=35-36 = 55(t)-55(t-1)-22 -24,765 -50,510 -11,867 70,680 123,562 119,829 3,693 40

38=34+37 = 56(t)-56(t-1)-77+21 -639,429 -105,848 -163,456 -276,617 -91,728 : : :

Government balance sheet 39=40+44 11,409,559 11,661,398 11,779,573 11,601,683 11,420,159 11,420,159 : : :

40=41+42+43 13,049,606 13,168,210 13,250,809 13,057,699 13,017,481 : : :41 5,320,878 5,339,373 5,437,305 5,452,556 5,511,316 : : :42 291,234 299,203 291,076 279,899 260,255 : : :43 7,437,494 7,529,634 7,522,428 7,325,244 7,245,910 : : :

44=45+..+49 1,640,047 1,506,812 1,471,236 1,456,016 1,597,322 -88,135 1,078,529 548,757 58,17145 507,991 402,531 403,251 433,069 548,998 -67,752 327,493 258,476 30,78146 11,228 14,033 15,060 14,076 14,347 -1,011 9,979 5,357 2247 128,208 133,512 128,574 119,922 98,841 -1,137 97,617 2,361 048 623,627 571,767 525,058 563,153 590,407 0 379,943 209,967 497

48a 1,229 1,418 1,349 1,054 1,111 : : :49 368,993 384,969 399,293 325,796 344,729 -18,235 263,497 72,596 26,871

50=51+..+54 2,381,479 2,388,056 2,392,251 2,275,263 2,212,018 -88,135 2,083,260 179,033 37,86051 6,853 9,977 5,364 8,499 5,912 -67,752 73,664 - -52 1,814,838 1,881,874 1,882,049 1,802,445 1,724,398 -1,011 1,711,993 13,416 -53 195,070 187,968 184,037 153,935 140,805 -1,137 69,654 71,993 29554 364,718 308,237 320,801 310,384 340,903 -18,235 227,949 93,624 37,565

55=44-50 -741,432 -881,244 -921,015 -819,247 -614,696 -1,004,731 369,724 20,31156=39-50=40+55 9,028,080 9,273,342 9,387,322 9,326,420 9,208,141 : : :

Table B - Government debt and link with the deficit57=20 -51,129 -90,561 -27,929 34,642 78,195 28,322 41,691 8,182

58=64(t)-64(t-1) 34,983 -21,314 17,157 -81,372 -5,351 -21,223 20,247 -4,576 20159 = 57+58 = 60+..+63 -16,146 -111,875 -10,772 -46,730 72,844 -21,223 48,569 37,115 8,383

60=23 -18,823 -105,128 12,533 -57,919 113,208 -22,155 85,701 37,524 12,138

61=(-)33 -3,780 225 -14,605 10,001 -28,970 932 -22,792 -6,317 -793

62 13,677 -5,713 -8,675 -2,366 -8,600 0 -8,937 337 0

63 -7,220 -1,259 -25 3,554 -2,794 0 -5,403 5,571 -2,96264=65+66+69 1,840,412 1,819,098 1,836,255 1,754,883 1,749,532 -69,900 1,734,314 84,823 295

65 6,835 9,961 5,364 8,502 5,911 -67,752 73,663 - -66=67+68 1,639,111 1,622,964 1,648,330 1,593,074 1,602,348 -1,011 1,590,521 12,838 0

67 120,966 106,934 84,276 4,763 44,153 -26 44,015 164 068 1,518,145 1,516,030 1,564,054 1,588,311 1,558,195 -985 1,546,506 12,674 0

69=70+71 194,466 186,173 182,561 153,307 141,273 -1,137 70,130 71,985 29570 4,702 9,433 9,290 2,907 3,045 0 1,488 1,361 19671 189,764 176,740 173,271 150,400 138,228 -1,137 68,642 70,624 9972 0 0 0 0 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 520,448 417,982 419,660 448,199 564,456 : : :


77=20+18-76 -98,347 -117,819 -85 -19,702 41,271 10,978 22,440 7,85378 4,098,128 4,313,789 4,595,783 4,767,990 5,045,188

79 822 830 839 854 880

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Czechia




2=3+4+5 Taxes 20.4 18.2 19.3 18.2 17.9 17.9 18.9 19.3 19.9 19.1 19.5 19.9 20.2 14.9 5.3 0.03 . Indirect taxes 11.4 10.5 10.8 10.4 10.8 11.1 11.9 12.4 12.7 11.8 12.2 12.3 12.5 9.8 2.7 0.04 . Direct taxes 9.0 7.7 8.6 7.8 7.1 6.8 7.0 6.9 7.2 7.3 7.2 7.6 7.7 5.1 2.6 0.05 . Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.06 Social contributions 14.2 14.4 14.8 14.9 14.2 14.6 14.7 14.8 14.8 14.6 14.4 14.7 15.1 9.5 0.0 5.67 Sales (incl. own account capital formation) 3.9 3.3 3.3 3.4 3.6 3.5 3.6 3.6 3.7 3.5 3.4 3.3 3.2 1.7 1.6 0.08 Other current revenue 1.5 1.3 1.6 1.5 1.7 1.8 1.7 1.8 2.0 1.9 1.9 1.6 1.4 -5.4 2.4 4.3 0.19 Capital revenue 0.5 0.1 0.3 0.8 1.3 1.5 1.3 1.0 1.0 1.2 2.0 0.6 0.6 -0.2 0.5 0.3 0.0

10=11+..+18 Total expenditure 52.9 41.0 42.3 40.6 44.2 43.5 43.0 44.5 42.6 42.4 41.7 39.5 39.0 -5.6 28.4 10.7 5.511 Intermediate consumption 8.1 7.1 7.1 6.9 7.4 7.3 7.0 6.4 6.6 6.4 6.2 6.1 5.9 2.8 3.1 0.012 Compensation of employees 8.5 7.8 8.7 8.3 9.0 8.9 8.7 8.9 8.9 8.8 8.7 8.8 9.2 4.6 4.5 0.113 Interest 1.0 0.8 1.1 1.0 1.2 1.3 1.3 1.4 1.3 1.3 1.1 0.9 0.7 0.0 0.7 0.0 0.014 Subsidies 2.2 2.2 1.5 1.4 1.8 1.8 2.3 2.2 2.3 2.3 2.3 2.3 2.2 1.3 0.9 0.015 Social benefits 13.0 15.0 14.4 14.5 16.0 16.1 16.1 16.3 16.5 16.1 15.4 15.3 14.9 12.0 0.1 2.8

15a of which other than transfers in kind 10.8 12.3 11.5 11.8 12.9 13.1 13.1 13.1 13.3 12.9 12.4 12.2 11.8 11.8 0.1 0.016 Other current expenditure 1.2 1.2 1.6 1.9 1.9 2.0 2.1 2.2 2.2 2.1 2.1 2.1 2.1 -5.4 4.4 0.5 2.617 Capital transfers payable 13.7 2.2 2.6 1.3 1.2 1.2 1.1 3.0 1.0 1.4 0.9 0.7 0.6 -0.2 0.7 0.1 0.018 Capital investments 5.4 4.7 5.1 5.3 5.7 4.9 4.5 4.1 3.7 4.0 5.1 3.2 3.5 1.9 1.6 0.019 of which, gross fixed capital formation 5.6 4.6 5.2 5.3 6.0 5.1 4.5 4.2 3.7 4.1 5.1 3.3 3.4 1.8 1.6 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -12.4 -3.6 -3.0 -2.0 -5.5 -4.2 -2.7 -3.9 -1.2 -2.1 -0.6 0.7 1.5 0.6 0.8 0.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.0 0.0 -0.3 0.0 0.1 -0.2 -0.1 -0.2 0.0 0.0 0.1 -0.1 -0.1 0.1 -0.1

22=23-29 Net financial transactions : -3.6 -3.0 -1.7 -5.4 -4.3 -2.6 -3.8 -1.1 -2.1 -0.6 0.7 1.6 0.7 0.7 0.223=24+..+28 Net acquisition of financial assets : -0.7 -0.8 1.1 0.1 -0.2 0.3 3.8 -0.5 -2.4 0.3 -1.2 2.2 -0.4 1.7 0.7 0.2

24 Currency and deposits : -0.1 3.6 1.9 -1.5 -0.3 -0.9 3.2 -0.6 -2.5 0.1 0.6 2.3 -0.4 1.8 0.7 0.225 Debt securities : 0.0 0.0 -0.1 -0.1 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.026 Loans : 0.2 -1.5 0.1 0.2 0.5 0.2 0.1 0.2 0.0 -0.1 -0.2 -0.3 0.0 -0.3 0.0 0.027 Shares and other equity : -0.6 -3.3 -0.6 -0.2 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 -0.1 0.0 -0.1 0.0 0.028 Other financial assets : -0.1 0.5 -0.1 1.7 -0.2 1.1 0.5 0.0 0.1 0.4 -1.6 0.4 0.0 0.3 0.1 0.1

29=30+..+33 Net incurrence of liabilities : 2.9 2.2 2.8 5.5 4.1 2.9 7.6 0.6 -0.4 0.9 -1.9 0.6 -0.4 1.0 0.0 0.030 Currency and deposits : 0.0 -0.1 0.0 0.0 0.0 -0.1 0.1 0.0 0.1 -0.1 0.1 -0.1 -0.4 0.4 - -31 Debt securities : 1.8 2.3 1.8 4.1 4.3 3.2 5.4 0.6 -0.2 0.7 -1.1 0.4 0.0 0.4 0.0 -32 Loans : 0.7 -0.8 0.1 0.6 0.2 0.1 0.0 0.0 -0.2 -0.1 -0.6 -0.3 0.0 -0.2 -0.1 0.033 Other liabilities : 0.4 0.7 0.9 0.8 -0.3 -0.3 2.1 0.1 0.0 0.3 -0.2 0.6 0.0 0.5 0.1 0.0

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : 3.5 8.4 10.7 -3.1 -7.4 0.4 -2.9 -15.0 -1.3 -3.3 -7.3 -4.3 : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : 1.3 4.5 -4.1 1.2 -2.8 2.5 -1.3 -0.9 -0.7 -1.0 0.9 0.6 0.0 0.5 0.1 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -1.0 -0.5 2.3 0.5 0.8 0.6 2.3 -0.3 0.5 -0.8 -0.6 -1.9 0.0 -1.9 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 2.3 5.0 -6.4 0.8 -3.6 1.9 -3.6 -0.6 -1.2 -0.3 1.5 2.4 2.4 0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : 5.9 13.4 4.3 -2.4 -10.9 2.3 -6.5 -15.6 -2.5 -3.6 -5.8 -1.8 : : :

Government balance sheet 39=40+44 Total assets : 421.2 325.6 291.2 299.4 297.5 294.2 291.1 278.4 270.3 256.3 243.3 226.4 226.4 : : :

40=41+42+43 Non-financial assets 513.4 466.9 366.9 329.7 340.1 334.9 333.8 332.9 318.4 305.3 288.3 273.9 258.0 : : :41 Fixed assets 185.9 175.2 147.2 137.3 141.3 139.5 135.8 133.2 129.8 123.8 118.3 114.4 109.2 : : :42 Other produced assets 13.3 10.4 6.5 5.0 4.9 5.7 6.7 6.8 7.1 6.9 6.3 5.9 5.2 : : :43 Non-produced assets 314.3 281.3 213.2 187.4 193.9 189.7 191.3 192.9 181.5 174.5 163.7 153.6 143.6 : : :

44=45+..+49 Financial assets : 45.6 41.3 38.4 40.7 37.4 39.6 41.8 40.0 34.9 32.0 30.5 31.7 -1.7 21.4 10.9 1.245 Currency and deposits : 6.2 11.0 12.3 11.1 8.9 9.9 13.0 12.4 9.3 8.8 9.1 10.9 -1.3 6.5 5.1 0.646 Debt securities : 1.1 0.7 0.5 0.5 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.2 0.1 0.047 Loans : 9.2 2.9 2.0 2.2 2.6 2.8 2.8 3.1 3.1 2.8 2.5 2.0 0.0 1.9 0.0 0.048 Shares and other equity : 19.3 18.2 16.6 18.1 17.6 17.8 16.4 15.2 13.3 11.4 11.8 11.7 0.0 7.5 4.2 0.0

48a of which, Investment fund shares : 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :49 Other financial assets : 9.9 8.5 7.1 8.8 7.9 8.8 9.2 9.0 8.9 8.7 6.8 6.8 -0.4 5.2 1.4 0.5

50=51+..+54 Liabilities : 24.4 32.8 34.7 41.5 46.1 48.8 58.3 58.1 55.4 52.1 47.7 43.8 -1.7 41.3 3.5 0.851 Currency and deposits : 0.0 0.3 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.1 0.2 0.1 -1.3 1.5 - -52 Debt securities : 11.5 21.5 24.2 29.3 33.9 37.1 44.4 44.3 43.6 41.0 37.8 34.2 0.0 33.9 0.3 -53 Loans : 5.5 5.8 4.0 4.7 4.8 4.8 4.8 4.8 4.4 4.0 3.2 2.8 0.0 1.4 1.4 0.054 Other liabilities : 7.4 5.2 6.3 7.3 7.2 6.7 8.9 8.9 7.1 7.0 6.5 6.8 -0.4 4.5 1.9 0.7

55=44-50 Financial net worth : 21.3 8.5 3.7 -0.9 -8.7 -9.2 -16.6 -18.1 -20.4 -20.0 -17.2 -12.2 -19.9 7.3 0.456=39-50=40+55 Net worth : 396.8 292.8 256.5 257.9 251.4 245.4 232.7 220.3 215.0 204.3 195.6 182.5 : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -12.4 -3.6 -3.0 -2.0 -5.5 -4.2 -2.7 -3.9 -1.2 -2.1 -0.6 0.7 1.5 0.6 0.8 0.2

58=64(t)-64(t-1) Change in Government Debt 0.3 2.7 1.1 2.0 4.6 4.1 3.1 4.9 0.9 -0.5 0.4 -1.7 -0.1 -0.4 0.4 -0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -12.1 -0.9 -1.9 0.1 -0.8 -0.1 0.4 1.0 -0.4 -2.6 -0.2 -1.0 1.4 -0.4 1.0 0.7 0.2

60=23 Net acquisition of financial assets -9.8 -0.7 -0.8 1.1 0.1 -0.2 0.3 3.8 -0.5 -2.4 0.3 -1.2 2.2 -0.4 1.7 0.7 0.2

61=(-)33 Incurrence in liabilities not in government debt -2.1 -0.4 -0.7 -0.9 -0.8 0.3 0.3 -2.1 -0.1 0.0 -0.3 0.2 -0.6 0.0 -0.5 -0.1 0.0

62Valuation effects and other changes in volume in government debt -0.2 0.2 -0.3 0.2 -0.1 -0.4 -0.1 -0.6 0.3 -0.1 -0.2 0.0 -0.2 0.0 -0.2 0.0 0.0

63 Statistical discrepancies 0.0 0.0 0.0 -0.3 0.0 0.1 -0.2 -0.1 -0.2 0.0 0.0 0.1 -0.1 0.0 -0.1 0.1 -0.164=65+66+69 Government debt (nominal / face value) : 17.0 27.9 28.3 33.6 37.4 39.8 44.5 44.9 42.2 40.0 36.8 34.7 -1.4 34.4 1.7 0.0

65 . Currency and deposits : 0.0 0.3 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.1 0.2 0.1 -1.3 1.5 - -66=67+68 . Debt securities : 11.6 21.8 24.0 28.6 32.3 34.9 39.5 40.0 37.6 35.9 33.4 31.8 0.0 31.5 0.3 0.0

67 .. short term : 6.8 2.5 1.5 1.9 2.4 3.4 4.4 3.0 2.5 1.8 0.1 0.9 0.0 0.9 0.0 0.068 .. long term : 4.8 19.2 22.6 26.8 29.9 31.5 35.1 37.0 35.1 34.0 33.3 30.9 0.0 30.7 0.3 0.0

69=70+71 . Loans : 5.5 5.8 4.0 4.7 4.8 4.8 4.8 4.7 4.3 4.0 3.2 2.8 0.0 1.4 1.4 0.070 .. short term : 0.9 0.4 0.1 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.1 0.1 0.0 0.0 0.0 0.071 .. long term : 4.5 5.4 3.9 4.5 4.6 4.6 4.7 4.6 4.1 3.8 3.2 2.7 0.0 1.4 1.4 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :



77=20+18-76 Net savings and capital transfers -12.6 -4.5 -2.8 -1.4 -4.7 -4.1 -3.1 -4.7 -2.4 -2.7 0.0 -0.4 0.8 0.2 0.4 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Czechia




2=3+4+5 6.3 8.1 12.4 4.3 5.0 11.9 -1.6 -3.7 1.0 7.4 2.7 4.0 1.3 8.3 6.0 7.33 3.4 6.5 16.1 5.4 2.9 12.0 3.0 1.9 3.9 9.0 4.3 4.0 -2.1 10.1 4.4 7.14 10.0 10.0 8.2 2.9 7.6 12.0 -7.0 -11.1 -3.3 4.8 0.0 4.0 7.4 5.3 8.8 7.85 8.9 15.6 -28.1 18.5 9.2 -42.4 -44.8 -8.2 -3.4 0.9 0.9 -33.3 -93.5 10.0 54.5 70.66 8.5 5.9 7.4 6.5 8.8 9.9 3.9 -6.6 3.3 2.5 1.3 1.1 3.6 5.5 6.1 8.07 2.8 10.6 9.9 1.1 5.7 11.8 6.7 3.2 -0.9 5.6 1.2 1.1 1.8 2.0 1.6 3.58 5.6 1.6 19.7 -5.9 10.0 1.4 5.9 11.4 9.0 -3.9 5.7 10.4 -2.8 7.2 -9.6 -8.19 -52.1 3109.6 -87.4 -8.9 82.2 19.2 33.7 75.2 9.3 -7.7 -26.2 3.4 30.5 69.8 -66.0 5.7

10=11+..+18 8.3 15.4 -6.0 5.9 5.3 6.7 5.5 6.2 -0.7 0.7 4.0 -3.3 4.8 4.7 -1.8 4.411 13.2 11.6 0.9 2.9 8.7 5.2 4.8 4.8 -0.9 -3.1 -7.7 4.1 1.5 3.4 2.8 1.612 11.1 10.1 4.5 6.9 6.5 5.7 4.6 5.3 0.4 -1.0 2.7 2.0 3.5 4.8 5.4 10.113 23.8 -0.4 12.8 6.6 2.8 13.2 -2.6 20.7 7.7 1.9 9.1 -4.9 2.0 -12.7 -10.6 -13.714 -14.5 19.7 -10.9 -6.5 11.9 2.3 2.2 19.6 2.3 29.2 0.0 5.1 3.8 5.6 2.7 1.715 8.4 4.6 4.9 3.7 6.4 11.4 4.3 7.9 1.4 2.0 1.9 2.2 2.5 2.1 2.7 2.8

15a 6.8 3.8 4.1 4.2 8.7 12.1 4.1 7.1 1.7 1.9 1.2 2.1 2.0 2.3 2.3 2.716 9.2 -8.2 55.8 25.6 11.6 12.6 11.5 0.4 6.2 5.4 3.9 3.9 1.1 4.5 5.2 4.017 0.0 5.9 -45.5 13.6 -25.6 4.2 -18.8 -13.3 -1.8 -2.6 169.8 -67.5 53.4 -32.3 -12.8 -13.418 13.3 90.0 -30.7 10.2 7.5 -3.4 21.7 5.8 -13.4 -6.9 -7.8 -9.8 15.7 34.6 -34.2 13.519 3.2 95.5 -28.8 10.4 6.9 0.0 16.3 11.7 -14.6 -10.6 -6.4 -10.0 16.8 32.8 -34.3 10.3

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -4.9 -6.1 1.1 -2.2 0.2 5.2 2.7 0.3 -0.4 0.9 9.6 -1.1 -6.4 0.8 -3.9 7.8

24 27.1 -20.5 14.2 48.9 -4.2 22.5 18.3 -12.3 -2.5 -10.1 32.4 -4.9 -20.8 0.9 7.5 26.525 -35.0 -55.0 84.0 -3.5 -14.2 32.4 -18.7 -11.8 -42.2 -4.2 -13.7 -12.3 -15.9 1.8 -8.9 -0.326 10.4 -10.9 -8.2 -33.7 -6.5 -2.6 6.0 11.6 22.4 6.8 2.3 6.0 0.8 -3.9 -7.4 -11.927 -26.5 -1.9 -2.7 -19.9 -0.8 -3.6 -3.0 -1.3 0.0 0.0 0.3 0.2 -0.2 -0.8 -0.2 -1.228 -6.3 10.9 -2.9 5.5 11.7 6.8 -2.0 23.6 -1.9 13.8 5.9 0.2 0.8 4.8 -19.1 6.0

29=30+..+33 15.1 15.3 9.0 7.0 6.8 9.4 9.5 15.5 10.1 6.4 15.7 1.1 -0.7 1.7 -3.7 1.430 232.0 -95.1 11.7 -13.8 -18.5 16.1 7.9 0.1 -11.7 -60.8 152.2 -20.0 45.2 -46.5 58.2 -39.431 20.9 24.7 18.3 11.7 12.9 11.9 8.3 16.6 14.7 9.8 14.6 1.3 -0.6 1.8 -2.8 1.132 1.1 0.1 -11.1 -11.6 -10.7 -4.5 1.6 15.1 3.9 1.6 -0.3 -0.4 -4.4 -1.8 -15.9 -8.333 11.4 34.1 7.7 15.9 2.9 11.1 24.9 11.8 -4.1 -4.1 31.3 1.0 -0.1 4.7 -3.1 9.3

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76

35=44(t)-44(t-1)-23 -4.4 1.3 14.4 12.0 7.9 9.0 -9.9 3.1 -7.0 6.9 -3.4 -2.2 -1.7 -3.2 2.9 1.936=50(t)-50(t-1)-29 -2.4 -0.2 -1.3 -1.5 -0.4 -4.8 7.6 1.3 1.9 1.4 4.7 -0.5 0.9 -1.5 -1.2 -4.2

37=35-36 = 55(t)-55(t-1)-22 -7.3 5.5 138.1 76.6 39.6 58.7 -54.1 20.4 422.8 -22.3 39.3 3.7 6.8 1.3 -7.7 -15.1

38=34+37 = 56(t)-56(t-1)-77+21

Government balance sheet 39=40+44 2.1 1.2 -0.6 3.1 0.2 2.8 7.0 0.4 0.2 0.7 -0.4 -3.5 2.2 1.0 -1.5 -1.6

40=41+42+43 0.9 0.6 0.9 3.8 1.1 4.2 5.1 0.8 -0.7 1.5 0.4 -3.4 0.9 0.6 -1.5 -0.341 1.0 3.6 3.7 3.0 3.5 5.6 5.2 0.5 -0.5 -0.9 -1.3 -1.6 0.3 1.8 0.3 1.142 -7.9 -6.9 -0.5 5.8 8.4 4.9 -17.0 -5.1 18.9 19.6 2.3 4.8 2.7 -2.7 -3.8 -7.043 1.1 -1.1 -1.0 4.4 -0.7 3.2 5.7 1.1 -1.4 2.7 1.5 -5.0 1.2 -0.1 -2.6 -1.1

44=45+..+49 -9.3 -4.8 15.5 9.8 8.1 14.3 -7.2 3.4 -7.3 7.8 6.2 -3.3 -8.1 -2.4 -1.0 9.745 24.3 0.4 6.4 49.3 -4.8 22.1 19.1 -12.2 -19.0 13.6 32.2 -4.1 -20.8 0.2 7.4 26.846 -38.6 -50.1 65.4 1.2 -14.4 30.5 -22.1 -12.9 -27.3 -2.6 -7.5 -6.4 25.0 7.3 -6.5 1.947 -26.4 -25.3 -16.5 -35.4 -10.8 -4.0 -3.2 9.4 19.3 10.2 0.4 12.6 4.1 -3.7 -6.7 -17.648 -7.8 -13.3 64.8 8.8 19.1 21.4 -22.4 6.8 -1.9 2.7 -7.0 -6.4 -8.3 -8.2 7.3 4.8

48a -67.4 3558.9 -67.2 -95.7 1.9 86.2 88.5 523.5 -64.2 15.5 -10.3 -4.9 15.4 -4.9 -21.9 5.449 -8.8 28.7 -14.2 2.4 9.4 -7.1 0.6 22.1 -9.5 12.4 5.8 -1.3 4.3 3.7 -18.4 5.8

50=51+..+54 12.6 15.1 7.6 5.5 6.4 4.6 17.2 16.8 11.9 7.8 20.3 0.5 0.3 0.2 -4.9 -2.851 240.9 -54.9 11.4 -17.1 -21.9 11.5 10.5 -0.2 -11.5 -60.6 149.3 -19.4 45.6 -46.2 58.4 -30.452 20.6 25.7 17.7 10.4 11.9 11.4 11.4 18.4 16.5 11.6 20.3 0.7 3.7 0.0 -4.2 -4.353 8.7 0.1 -9.9 -13.2 -12.5 -5.4 2.4 14.3 3.5 2.6 -0.2 0.1 -3.6 -2.1 -16.4 -8.554 -12.7 21.4 -0.6 13.6 6.6 -15.8 66.2 12.9 -0.1 -4.8 33.3 0.5 -15.5 4.1 -3.2 9.8

55=44-50 -41.1 -59.6 77.3 30.7 14.5 48.8 -68.7 -122.6 931.2 7.5 81.0 10.2 18.9 4.5 -11.0 -25.056=39-50=40+55 1.3 -0.1 -1.5 2.9 -0.4 2.6 5.7 -1.8 -1.7 -0.6 -4.5 -4.5 2.7 1.2 -0.6 -1.3

Table B - Government debt and link with the deficit57=20 -29.1 -27.8 -9.2 -11.2 -8.4 -2.6 -7.6 -18.8 -12.6 -7.4 -9.9 -2.8 -4.9 -1.5 1.9 4.5

58=64(t)-64(t-1) 18.7 14.4 9.9 4.2 6.9 8.4 7.8 16.0 12.2 8.5 12.4 1.9 -1.2 0.9 -4.4 -0.359 = 57+58 = 60+..+63 -10.4 -13.4 0.7 -7.0 -1.5 5.8 0.2 -2.8 -0.4 1.1 2.5 -0.9 -6.1 -0.6 -2.5 4.2

60=23 -10.4 -9.8 1.5 -3.1 0.3 7.8 4.3 0.3 -0.5 0.9 9.5 -1.0 -5.7 0.7 -3.2 6.5

61=(-)33 -2.8 -6.1 -1.5 -2.7 -0.5 -2.1 -3.6 -2.6 0.9 0.8 -5.3 -0.2 0.0 -0.8 0.5 -1.7

62 2.7 2.5 0.7 -1.2 -0.6 -0.6 0.6 -0.4 -1.1 -0.2 -1.5 0.8 -0.3 -0.5 -0.1 -0.5

63 0.0 0.0 0.0 0.0 -0.7 0.6 -1.0 -0.2 0.3 -0.5 -0.3 -0.4 -0.1 0.0 0.2 -0.264=65+66+69 18.7 14.4 9.9 4.2 6.9 8.4 7.8 16.0 12.2 8.5 12.4 1.9 -1.2 0.9 -4.4 -0.3

65 240.9 -55.1 11.4 -17.2 -22.2 11.2 10.3 -0.1 -11.7 -61.1 153.8 -18.7 45.7 -46.1 58.5 -30.566=67+68 20.5 26.6 18.7 10.5 12.5 11.2 8.8 16.3 13.8 10.0 13.9 2.2 -1.0 1.6 -3.4 0.6

67 -10.3 -4.1 -23.4 -32.3 -7.1 -6.9 -18.2 26.0 30.7 42.7 30.3 -32.4 -11.6 -21.2 -94.3 827.068 53.9 45.9 36.2 20.5 15.1 13.1 11.2 15.7 12.6 7.3 12.1 6.6 -0.1 3.2 1.6 -1.9

69=70+71 8.8 0.0 -10.0 -13.2 -12.6 -5.4 1.9 15.2 3.8 1.9 -0.8 0.5 -4.3 -1.9 -16.0 -7.870 49.4 16.4 -17.1 -15.4 -16.3 -45.4 -42.5 190.4 -12.5 12.6 -59.2 27.9 100.6 -1.5 -68.7 4.771 6.9 -1.0 -9.4 -13.0 -12.3 -2.8 3.5 11.7 4.7 1.4 2.1 -0.1 -6.9 -2.0 -13.2 -8.172 : : : : : : : :73 : : : : : : : :

74=45+46+48a 11.0 -1.2 6.5 43.0 -5.4 22.6 16.6 -11.6 -19.7 13.0 30.8 -4.1 -19.7 0.4 6.8 25.9

Table C - Memorandum items75 12.1 9.6 2.7 5.1 5.3 4.9 4.7 5.7 0.0 -1.5 -1.1 2.7 2.8 4.0 4.0 5.476 1.7 7.3 3.7 3.7 3.7 6.0 5.4 3.0 -0.9 2.0 0.3 0.5 1.8 2.6 1.1 1.7

77=20+18-7678 4.4 4.8 9.0 6.6 7.6 9.3 4.8 -2.3 0.8 1.8 0.6 0.9 5.3 6.5 3.7 5.8

79 0.0 0.7 -1.7 0.2 1.2 -0.5 0.1 0.4 -0.4 -0.4 -1.2 1.2 1.0 1.1 1.8 3.0



Denmark



Government revenue and expenditure1=2+6+7+8+9 Total revenue 569,109 724,150 891,268 965,312 925,448 977,230 1,004,200 1,032,103

2=3+4+5 Taxes 481,812 612,821 759,232 803,971 773,363 813,594 830,584 866,0973 . Indirect taxes 169,183 221,090 275,968 296,466 281,472 293,295 300,970 309,4504 . Direct taxes 310,219 388,729 480,076 502,745 488,213 516,653 524,822 552,6055 . Capital taxes 2,410 3,002 3,188 4,760 3,678 3,646 4,792 4,0426 Social contributions 17,740 31,309 24,186 23,756 23,287 24,363 24,750 22,9867 Sales (incl . own account capital formation) 35,837 44,376 56,734 63,652 66,573 70,965 71,453 73,2698 Other current revenue 35,542 36,081 52,199 75,132 64,346 68,948 75,299 71,6129 Capital revenue -1,821 -437 -1,084 -1,199 -2,120 -641 2,114 -1,862

10=11+..+18 Total expenditure 606,612 699,107 812,682 908,135 973,636 1,026,310 1,042,167 1,098,24711 Intermediate consumption 73,873 99,571 128,811 154,138 166,213 170,715 170,159 178,02012 Compensation of employees 166,561 205,919 248,219 280,979 301,545 313,186 310,199 314,63913 Interest 60,583 49,515 32,600 25,847 33,029 34,411 36,401 34,28714 Subsidies 22,948 26,264 29,523 31,720 36,893 36,692 38,958 41,01815 Social benefits 215,110 232,056 279,967 292,377 314,775 340,442 348,423 357,951


Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -37,503 25,043 78,586 57,177 -48,188 -49,081 -37,967 -66,144


21=20-22Statistical discrepancy(non-financial minus financial accounts) 17 0 -1 0 -1 -1 -2 0

22=23-29 Net financial transactions -37,520 25,043 78,587 57,177 -48,187 -49,080 -37,965 -66,14423=24+..+28 Net acquisition of financial assets -30,909 -4,803 -6,506 188,580 54,787 42,921 42,792 -60,796

24 Currency and deposits -25,448 -1,968 -1,836 147,468 -78,463 -14,183 61,359 -62,87225 Debt securities -12,820 3,616 -6,204 2,304 79,406 19,219 4,663 -19,52826 Loans -3,225 -3,005 10,485 28,828 33,331 -916 4,724 10,61127 Shares and other equity -1,597 13,234 9,696 2,281 2,741 4,572 3,403 6,92828 Other financial assets 12,182 -16,681 -18,648 7,701 17,770 34,230 -31,360 4,065

29=30+..+33 Net incurrence of liabilities 6,611 -29,846 -85,093 131,403 102,974 92,001 80,757 5,34830 Currency and deposits 93 1,427 724 884 323 273 154 17331 Debt securities 1,921 -33,945 -87,121 122,001 94,975 71,159 72,173 -60332 Loans -5,387 3,669 9,080 7,104 4,447 9,434 4,675 4,05633 Other liabilities 9,986 -997 -7,776 1,414 3,228 11,134 3,755 1,722


35=44(t)-44(t-1)-23 Other changes in financial assets : 15,796 -2,688 5,011 19,587 34,290 19,714 -4,58036=50(t)-50(t-1)-29 Other changes in liabilities : -963 12,502 22,599 -10,053 27,325 61,627 33,146

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 16,759 -15,190 -17,588 29,640 6,965 -41,913 -37,726

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets 449,773 463,632 565,483 875,376 949,750 1,026,961 1,089,467 1,024,09145 Currency and deposits 60,344 57,522 79,019 313,622 235,392 221,210 282,569 219,69746 Debt securities 91,578 56,383 30,444 28,464 108,329 128,688 134,988 115,73447 Loans 51,181 55,716 81,195 116,775 150,365 149,108 154,087 163,99148 Shares and other equity 167,624 228,347 306,315 361,534 378,884 404,922 411,942 415,251

48a of which, Investment fund shares 1,364 2,624 2,551 14,220 14,577 16,117 17,427 20,88549 Other financial assets 79,045 65,665 68,510 54,982 76,780 123,033 105,880 109,417

50=51+..+54 Liabilities 845,316 802,195 715,587 755,535 848,456 967,782 1,110,166 1,148,66051 Currency and deposits 6,522 9,085 12,316 14,182 14,506 14,780 14,934 15,10752 Debt securities 705,892 616,346 515,332 489,537 573,620 671,653 804,955 837,13453 Loans 63,050 91,362 102,263 128,906 134,182 144,067 149,240 153,65954 Other liabilities 69,852 85,402 85,676 122,910 126,148 137,282 141,037 142,759

55=44-50 Financial net worth -395,543 -338,563 -150,104 119,841 101,294 59,179 -20,699 -124,56956=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -37,521 25,043 78,587 57,177 -48,188 -49,081 -37,967 -66,144

58=64(t)-64(t-1) Change in Government Debt : : -71,637 124,623 91,861 79,247 79,627 -11659 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 6,950 181,800 43,673 30,166 41,660 -66,260





65 . Currency and deposits : 9,085 12,316 14,182 14,506 14,780 14,934 15,10766=67+68 . Debt securities : 593,119 478,562 456,087 543,014 612,641 687,513 683,213

67 .. short term : 38,368 59,952 56,209 5,286 30,087 46,805 47,71968 .. long term : 554,751 418,610 399,878 537,727 582,554 640,709 635,494

69=70+71 . Loans : 92,492 102,473 129,858 134,469 143,814 148,415 152,42670 .. short term : 3,751 5,308 8,976 12,729 11,462 17,080 18,08371 .. long term : 88,741 97,166 120,882 121,739 132,353 131,334 134,34372 Intergovernmental lending (asset)* : : : : 0 0 0 1,50073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0



77=20+18-76 Net savings and capital transfers -38,891 20,783 70,012 55,886 -48,323 -46,873 -33,885 -52,09278 GDP 1,036,483 1,326,912 1,585,984 1,801,470 1,722,143 1,810,926 1,846,854 1,895,002




Denmark



Government revenue and expenditure1=2+6+7+8+9 1,053,309 1,116,627 1,080,583 1,098,822 1,138,258 -490,549 843,325 739,467 46,015

2=3+4+5 903,797 982,451 956,253 962,838 995,727 732,037 263,690 03 317,142 321,755 330,057 338,413 346,371 317,906 28,465 04 582,715 656,814 621,019 620,185 644,988 409,763 235,225 05 3,940 3,882 5,177 4,240 4,368 4,368 0 06 20,793 20,368 20,166 19,817 19,658 4,010 1,087 14,5627 75,094 75,227 75,043 76,613 77,157 42,799 34,350 88 66,938 54,217 44,660 45,271 47,020 -487,405 65,876 437,104 31,4459 -13,313 -15,636 -15,539 -5,716 -1,304 -3,143 -1,398 3,237 0

10=11+..+18 1,077,153 1,093,954 1,110,402 1,107,267 1,114,602 -490,548 823,904 735,254 45,99211 178,247 180,943 182,998 186,202 191,542 65,191 125,563 78712 316,818 321,626 325,529 327,413 332,523 87,338 242,865 2,32013 32,099 29,159 31,866 28,029 23,257 0 22,185 1,070 214 41,424 40,989 40,996 38,564 38,890 24,938 13,952 015 365,253 371,486 376,360 378,970 384,199 68,543 286,544 29,112

15a 335,998 341,630 346,081 348,331 353,384 68,157 256,116 29,11216 68,966 62,943 65,647 64,095 67,325 -487,406 511,652 31,960 11,11917 5,843 12,028 17,077 7,329 5,742 -3,143 5,422 818 2,64518 68,503 74,780 69,930 76,666 71,123 38,633 32,483 719 70,689 76,450 73,590 79,263 74,220 38,599 35,614 7

Government deficit

20=1-10 -23,844 22,673 -29,819 -8,445 23,656 19,421 4,213 23


21=20-22 2,165 1,125 2,621 10,710 -7,227 -5,989 -1,482 243

22=23-29 -26,009 21,548 -32,440 -19,155 30,883 25,410 5,695 -22023=24+..+28 -18,428 47,787 -94,293 -39,582 33,778 175 28,074 5,633 -104

24 -1,421 53,784 -51,243 -41,773 25,442 1 26,504 -1,023 -4025 -12,468 -35,243 993 -4,184 -516 -275 -1,102 1,038 -17726 12,450 4,392 -2,140 1,634 -806 92 -1,047 149 027 3,422 -314 4,917 -6,315 5,511 1 -601 5,902 20928 -20,412 25,167 -46,823 11,056 4,149 362 4,320 -437 -96

29=30+..+33 7,581 26,239 -61,853 -20,427 2,895 177 2,664 -62 11630 -85 1,194 1,014 -130 -4,093 0 -2,793 -1,300 031 -11,619 15,062 -77,670 -23,372 -238 -276 38 0 032 10,214 1,765 4,839 2,471 -7,004 90 -1,746 -5,368 2033 9,071 8,218 9,964 606 14,229 361 7,166 6,606 96


35=44(t)-44(t-1)-23 9,031 11,688 11,375 52,448 12,976 4 13,060 -88 036=50(t)-50(t-1)-29 -61,492 50,712 -19,507 16,790 -15,724 1 -15,461 -264 0

37=35-36 = 55(t)-55(t-1)-22 70,523 -39,024 30,882 35,658 28,700 28,521 176 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 944,225 959,450 983,774 1,022,951 1,064,978 : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 1,014,694 1,074,169 991,251 1,004,117 1,050,871 -14,544 706,128 355,804 3,48345 218,277 272,062 228,259 186,485 211,927 1 195,660 15,517 74946 102,400 66,712 68,032 63,832 62,062 -2,604 25,367 38,608 69147 176,070 180,169 184,148 185,562 184,302 -3,000 160,304 26,998 048 415,768 424,588 419,724 465,912 486,960 0 252,637 233,698 625

48a 19,997 17,892 21,432 23,248 27,315 : : :49 102,179 130,639 91,088 102,327 105,620 -8,940 72,160 40,983 1,417

50=51+..+54 1,094,749 1,171,700 1,090,340 1,086,703 1,073,874 -14,544 862,457 223,292 2,66951 15,022 23,167 24,181 24,050 19,958 0 4,621 15,337 052 764,463 830,621 736,650 730,000 714,302 -2,604 716,906 0 053 163,403 164,783 169,638 172,176 164,909 -3,000 41,224 126,126 55954 151,860 153,128 159,870 160,476 174,705 -8,940 99,706 81,829 2,110

55=44-50 -80,055 -97,531 -99,089 -82,586 -23,003 -156,329 132,512 81456=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -23,845 22,673 -29,819 -8,445 23,656 19,421 4,213 23

58=64(t)-64(t-1) -808 27,129 -67,403 -26,635 -7,969 19 -1,380 -6,627 1959 = 57+58 = 60+..+63 -24,653 49,802 -97,222 -35,080 15,687 18 18,041 -2,414 42

60=23 : 47,788 -94,293 -39,582 33,778 180 28,072 5,631 -105

61=(-)33 : -8,219 -9,964 -606 -14,228 -359 -7,166 -6,606 -97

62 : 7,718 4,945 28 2,793 0 2,793 0 0

63 : 2,513 2,090 5,079 -6,655 197 -5,657 -1,439 24464=65+66+69 849,938 877,067 809,664 783,029 775,060 -5,243 639,032 140,712 559

65 15,022 23,167 24,181 24,050 19,958 0 4,621 15,337 066=67+68 672,319 689,560 616,215 587,259 590,428 -2,242 592,670 0 0

67 34,844 33,570 29,840 30,880 35,340 0 35,340 0 068 637,475 655,990 586,375 556,379 555,088 -2,242 557,330 0 0

69=70+71 162,597 164,340 169,267 171,719 164,675 -3,000 41,741 125,375 55970 28,017 29,125 32,856 31,976 29,740 0 5,426 24,314 071 134,580 135,215 136,411 139,743 134,935 -2,999 36,315 101,060 55972 2,984 2,977 2,985 2,974 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 340,674 356,666 317,723 273,565 301,304 : : :


77=20+18-76 -11,611 40,698 -17,384 9,694 34,734 26,906 7,799 3078 1,929,677 1,981,165 2,027,108 2,065,962 2,149,613

79 824 822 824 818 818

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Denmark




2=3+4+5 Taxes 46.5 46.2 47.9 44.6 44.9 44.9 45.0 45.7 46.8 49.6 47.2 46.6 46.3 34.1 12.3 0.03 . Indirect taxes 16.3 16.7 17.4 16.5 16.3 16.2 16.3 16.3 16.4 16.2 16.3 16.4 16.1 14.8 1.3 0.04 . Direct taxes 29.9 29.3 30.3 27.9 28.3 28.5 28.4 29.2 30.2 33.2 30.6 30.0 30.0 19.1 10.9 0.05 . Capital taxes 0.2 0.2 0.2 0.3 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.0 0.06 Social contributions 1.7 2.4 1.5 1.3 1.4 1.3 1.3 1.2 1.1 1.0 1.0 1.0 0.9 0.2 0.1 0.77 Sales (incl. own account capital formation) 3.5 3.3 3.6 3.5 3.9 3.9 3.9 3.9 3.9 3.8 3.7 3.7 3.6 2.0 1.6 0.08 Other current revenue 3.4 2.7 3.3 4.2 3.7 3.8 4.1 3.8 3.5 2.7 2.2 2.2 2.2 -22.7 3.1 20.3 1.59 Capital revenue -0.2 0.0 -0.1 -0.1 -0.1 0.0 0.1 -0.1 -0.7 -0.8 -0.8 -0.3 -0.1 -0.1 -0.1 0.2 0.0



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -3.6 1.9 5.0 3.2 -2.8 -2.7 -2.1 -3.5 -1.2 1.1 -1.5 -0.4 1.1 0.9 0.2 0.0


21=20-22Statistical discrepancy(non-financial minus financial accounts) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.5 -0.3 -0.3 -0.1 0.0

22=23-29 Net financial transactions -3.6 1.9 5.0 3.2 -2.8 -2.7 -2.1 -3.5 -1.3 1.1 -1.6 -0.9 1.4 1.2 0.3 0.023=24+..+28 Net acquisition of financial assets -3.0 -0.4 -0.4 10.5 3.2 2.4 2.3 -3.2 -1.0 2.4 -4.7 -1.9 1.6 0.0 1.3 0.3 0.0

24 Currency and deposits -2.5 -0.1 -0.1 8.2 -4.6 -0.8 3.3 -3.3 -0.1 2.7 -2.5 -2.0 1.2 0.0 1.2 0.0 0.025 Debt securities -1.2 0.3 -0.4 0.1 4.6 1.1 0.3 -1.0 -0.6 -1.8 0.0 -0.2 0.0 0.0 -0.1 0.0 0.026 Loans -0.3 -0.2 0.7 1.6 1.9 -0.1 0.3 0.6 0.6 0.2 -0.1 0.1 0.0 0.0 0.0 0.0 0.027 Shares and other equity -0.2 1.0 0.6 0.1 0.2 0.3 0.2 0.4 0.2 0.0 0.2 -0.3 0.3 0.0 0.0 0.3 0.028 Other financial assets 1.2 -1.3 -1.2 0.4 1.0 1.9 -1.7 0.2 -1.1 1.3 -2.3 0.5 0.2 0.0 0.2 0.0 0.0

29=30+..+33 Net incurrence of liabilities 0.6 -2.2 -5.4 7.3 6.0 5.1 4.4 0.3 0.4 1.3 -3.1 -1.0 0.1 0.0 0.1 0.0 0.030 Currency and deposits 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 -0.2 0.0 -0.1 -0.1 0.031 Debt securities 0.2 -2.6 -5.5 6.8 5.5 3.9 3.9 0.0 -0.6 0.8 -3.8 -1.1 0.0 0.0 0.0 0.0 0.032 Loans -0.5 0.3 0.6 0.4 0.3 0.5 0.3 0.2 0.5 0.1 0.2 0.1 -0.3 0.0 -0.1 -0.2 0.033 Other liabilities 1.0 -0.1 -0.5 0.1 0.2 0.6 0.2 0.1 0.5 0.4 0.5 0.0 0.7 0.0 0.3 0.3 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : 1.2 -0.2 0.3 1.1 1.9 1.1 -0.2 0.5 0.6 0.6 2.5 0.6 0.0 0.6 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -0.1 0.8 1.3 -0.6 1.5 3.3 1.7 -3.2 2.6 -1.0 0.8 -0.7 0.0 -0.7 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 1.3 -1.0 -1.0 1.7 0.4 -2.3 -2.0 3.7 -2.0 1.5 1.7 1.3 1.3 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 47.9 48.1 47.4 47.2 49.5 48.5 49.1 49.2 48.9 48.4 48.5 49.5 49.5 : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets 43.4 34.9 35.7 48.6 55.1 56.7 59.0 54.0 52.6 54.2 48.9 48.6 48.9 -0.7 32.8 16.6 0.245 Currency and deposits 5.8 4.3 5.0 17.4 13.7 12.2 15.3 11.6 11.3 13.7 11.3 9.0 9.9 0.0 9.1 0.7 0.046 Debt securities 8.8 4.2 1.9 1.6 6.3 7.1 7.3 6.1 5.3 3.4 3.4 3.1 2.9 -0.1 1.2 1.8 0.047 Loans 4.9 4.2 5.1 6.5 8.7 8.2 8.3 8.7 9.1 9.1 9.1 9.0 8.6 -0.1 7.5 1.3 0.048 Shares and other equity 16.2 17.2 19.3 20.1 22.0 22.4 22.3 21.9 21.5 21.4 20.7 22.6 22.7 0.0 11.8 10.9 0.0

48a of which, Investment fund shares 0.1 0.2 0.2 0.8 0.8 0.9 0.9 1.1 1.0 0.9 1.1 1.1 1.3 : : :49 Other financial assets 7.6 4.9 4.3 3.1 4.5 6.8 5.7 5.8 5.3 6.6 4.5 5.0 4.9 -0.4 3.4 1.9 0.1

50=51+..+54 Liabilities 81.6 60.5 45.1 41.9 49.3 53.4 60.1 60.6 56.7 59.1 53.8 52.6 50.0 -0.7 40.1 10.4 0.151 Currency and deposits 0.6 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.8 1.2 1.2 1.2 0.9 0.0 0.2 0.7 0.052 Debt securities 68.1 46.4 32.5 27.2 33.3 37.1 43.6 44.2 39.6 41.9 36.3 35.3 33.2 -0.1 33.4 0.0 0.053 Loans 6.1 6.9 6.4 7.2 7.8 8.0 8.1 8.1 8.5 8.3 8.4 8.3 7.7 -0.1 1.9 5.9 0.054 Other liabilities 6.7 6.4 5.4 6.8 7.3 7.6 7.6 7.5 7.9 7.7 7.9 7.8 8.1 -0.4 4.6 3.8 0.1

55=44-50 Financial net worth -38.2 -25.5 -9.5 6.7 5.9 3.3 -1.1 -6.6 -4.1 -4.9 -4.9 -4.0 -1.1 -7.3 6.2 0.056=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -3.6 1.9 5.0 3.2 -2.8 -2.7 -2.1 -3.5 -1.2 1.1 -1.5 -0.4 1.1 0.9 0.2 0.0

58=64(t)-64(t-1) Change in Government Debt : : -4.5 6.9 5.3 4.4 4.3 0.0 0.0 1.4 -3.3 -1.3 -0.4 0.0 -0.1 -0.3 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.4 10.1 2.5 1.7 2.3 -3.5 -1.3 2.5 -4.8 -1.7 0.7 0.0 0.8 -0.1 0.0

60=23 Net acquisition of financial assets : : : : : : : : : 2.4 -4.7 -1.9 1.6 0.0 1.3 0.3 0.0

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.4 -0.5 0.0 -0.7 0.0 -0.3 -0.3 0.0


63 Statistical discrepancies : : : : : : : : : 0.1 0.1 0.2 -0.3 0.0 -0.3 -0.1 0.064=65+66+69 Government debt (nominal / face value) : 52.4 37.4 33.3 40.2 42.6 46.1 44.9 44.0 44.3 39.9 37.9 36.1 -0.2 29.7 6.5 0.0

65 . Currency and deposits : 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.8 1.2 1.2 1.2 0.9 0.0 0.2 0.7 0.066=67+68 . Debt securities : 44.7 30.2 25.3 31.5 33.8 37.2 36.1 34.8 34.8 30.4 28.4 27.5 -0.1 27.6 0.0 0.0



74=45+46+48a Government liquid assets 14.8 8.8 7.1 19.8 20.8 20.2 23.6 18.8 17.7 18.0 15.7 13.2 14.0 : : :


77=20+18-76 Net savings and capital transfers -3.8 1.6 4.4 3.1 -2.8 -2.6 -1.8 -2.7 -0.6 2.1 -0.9 0.5 1.6 1.3 0.4 0.078 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Denmark



Government revenue and expenditure1=2+6+7+8+9 1.3 2.5 7.9 7.5 3.5 3.0 1.7 -4.1 5.6 2.8 2.8 2.1 6.0 -3.2 1.7 3.6

2=3+4+5 2.9 2.3 6.6 9.0 2.7 3.3 -0.1 -3.8 5.2 2.1 4.3 4.4 8.7 -2.7 0.7 3.43 4.3 1.1 5.8 7.3 5.5 4.2 -2.3 -5.1 4.2 2.6 2.8 2.5 1.5 2.6 2.5 2.44 2.1 3.0 7.0 10.0 1.0 2.6 1.0 -2.9 5.8 1.6 5.3 5.4 12.7 -5.4 -0.1 4.05 -6.2 6.9 18.6 -4.4 11.1 10.2 22.0 -22.7 -0.9 31.4 -15.7 -2.5 -1.5 33.4 -18.1 3.06 -22.1 -0.1 0.4 -0.5 -0.1 -0.5 -1.2 -2.0 4.6 1.6 -7.1 -9.5 -2.0 -1.0 -1.7 -0.87 1.4 1.8 5.6 7.2 4.0 1.1 6.7 4.6 6.6 0.7 2.5 2.5 0.2 -0.2 2.1 0.78 -4.9 7.5 28.5 -2.5 16.7 2.5 20.4 -14.4 7.2 9.2 -4.9 -6.5 -19.0 -17.6 1.4 3.99 -31.3 -2.4 -487.0 -157.1 31.5 9.3 -23.0 76.8 -69.8 -429.8 -188.1 615.0 17.4 -0.6 -63.2 -77.2

10=11+..+18 3.6 2.7 3.6 1.8 3.1 2.9 5.3 7.2 5.4 1.5 5.4 -1.9 1.6 1.5 -0.3 0.711 4.6 0.9 6.6 6.7 5.4 2.6 10.6 7.8 2.7 -0.3 4.6 0.1 1.5 1.1 1.8 2.912 4.7 3.5 3.5 2.5 4.3 3.1 5.3 7.3 3.9 -1.0 1.4 0.7 1.5 1.2 0.6 1.613 -5.8 -9.1 -5.0 -13.7 -7.6 -6.5 -8.2 27.8 4.2 5.8 -5.8 -6.4 -9.2 9.3 -12.0 -17.014 10.5 -1.9 1.4 0.2 0.7 10.2 -3.2 16.3 -0.5 6.2 5.3 1.0 -1.1 0.0 -5.9 0.815 4.1 6.1 3.1 1.7 0.5 1.2 2.7 7.7 8.2 2.3 2.7 2.0 1.7 1.3 0.7 1.4

15a 3.6 6.1 2.9 1.2 -0.3 0.5 2.4 8.3 8.7 2.7 3.0 2.4 1.7 1.3 0.7 1.516 -3.0 3.1 2.5 5.8 6.5 4.2 0.9 7.6 2.7 -4.0 10.6 1.2 -8.7 4.3 -2.4 5.017 -14.6 -4.9 9.8 -11.0 13.8 -15.5 238.5 -52.1 60.6 74.2 100.3 -82.9 105.9 42.0 -57.1 -21.718 8.6 -2.0 10.2 -3.9 13.3 15.5 5.8 0.6 8.1 4.3 18.0 -2.1 9.2 -6.5 9.6 -7.219 -6.3 -2.2 12.8 1.6 14.2 7.0 2.2 -0.2 10.5 3.0 17.0 -1.6 8.1 -3.7 7.7 -6.4

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 1.1 -1.1 1.5 -1.1 12.1 1.5 27.7 6.3 4.5 4.2 -5.6 -1.8 4.7 -8.8 -4.0 3.4

24 7.7 -15.2 44.5 -2.3 79.7 16.2 88.8 -25.0 -6.0 27.7 -22.3 -0.6 24.6 -18.8 -18.3 13.625 -14.3 -20.2 -1.8 -17.3 -14.4 2.1 8.9 279.0 17.7 3.6 -14.5 -10.8 -34.4 1.5 -6.2 -0.826 2.3 -1.2 7.3 15.0 9.1 -3.8 33.6 28.5 -0.6 3.2 6.9 7.6 2.5 -1.2 0.9 -0.427 2.3 1.7 -4.3 3.3 1.8 4.6 0.6 0.8 1.2 0.8 1.7 0.8 -0.1 1.2 -1.5 1.228 2.7 11.3 -8.8 -19.7 -4.0 -32.3 15.7 32.3 44.6 -25.5 3.8 -18.7 24.6 -35.8 12.1 4.1

29=30+..+33 0.7 -0.5 -2.9 -10.8 -2.1 -11.3 21.8 13.6 10.8 8.3 0.5 0.7 2.4 -5.3 -1.9 0.330 10.8 1.7 3.0 6.2 6.3 1.6 6.6 2.3 1.9 1.0 1.2 -0.6 7.9 4.4 -0.5 -17.031 0.6 -4.1 -1.8 -14.6 -14.3 -16.4 35.3 19.4 12.4 10.7 -0.1 -1.4 2.0 -9.4 -3.2 0.032 8.6 5.9 10.8 9.7 5.9 9.3 5.8 3.4 7.0 3.2 2.7 6.6 1.1 2.9 1.5 -4.133 -5.3 18.9 -20.3 -9.2 60.5 -13.0 1.2 2.6 8.8 2.7 1.2 6.4 5.4 6.5 0.4 8.9


35=44(t)-44(t-1)-23 3.9 4.6 4.7 -0.5 5.0 1.4 0.7 2.2 3.6 1.9 -0.4 0.9 1.2 1.1 5.3 1.336=50(t)-50(t-1)-29 1.9 -1.3 0.7 1.6 -2.7 -0.4 3.8 -1.3 3.2 6.4 3.0 -5.4 4.6 -1.7 1.5 -1.4

37=35-36 = 55(t)-55(t-1)-22 -1.5 -11.6 -7.4 7.1 -31.6 -62.6 -21.9 24.7 6.9 -70.8 182.3 -56.6 48.7 -31.7 -36.0 -34.8

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 2.0 1.9 3.6 5.4 5.7 4.7 2.1 0.4 2.9 3.3 2.7 1.3 1.6 2.5 4.0 4.142 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 5.0 3.5 6.2 -1.6 17.1 2.9 28.4 8.5 8.1 6.1 -6.0 -0.9 5.9 -7.7 1.3 4.745 7.1 -16.1 44.5 -2.3 80.9 16.3 88.8 -24.9 -6.0 27.7 -22.3 -0.6 24.6 -16.1 -18.3 13.646 -23.1 -20.3 0.1 -15.3 -15.4 0.5 10.0 280.6 18.8 4.9 -14.3 -11.5 -34.9 2.0 -6.2 -2.847 1.9 -1.2 7.3 15.9 10.8 -4.6 36.0 28.8 -0.8 3.3 6.4 7.4 2.3 2.2 0.8 -0.748 4.7 9.8 2.9 4.4 6.3 8.9 1.9 4.8 6.9 1.7 0.8 0.1 2.1 -1.1 11.0 4.5

48a -61.2 21.9 12.5 6.0 6.8 380.4 8.6 2.5 10.6 8.1 19.8 -4.3 -10.5 19.8 8.5 17.549 32.9 15.8 -4.7 -27.5 13.8 -37.0 11.9 39.6 60.2 -13.9 3.3 -6.6 27.9 -30.3 12.3 3.2

50=51+..+54 2.6 -1.8 -2.2 -9.2 -4.8 -11.7 25.6 12.3 14.1 14.7 3.5 -4.7 7.0 -6.9 -0.3 -1.251 10.8 1.7 3.0 6.2 6.3 1.6 6.7 2.3 1.9 1.0 1.2 -0.6 54.2 4.4 -0.5 -17.052 1.7 -4.6 -0.9 -13.9 -17.8 -18.4 41.8 17.2 17.1 19.8 4.0 -8.7 8.7 -11.3 -0.9 -2.253 19.8 -2.9 11.1 9.8 4.9 13.3 6.0 4.1 7.4 3.6 3.0 6.3 0.8 2.9 1.5 -4.254 -5.4 18.9 -20.3 0.9 60.5 -11.7 1.3 2.6 8.8 2.7 1.2 6.4 0.8 4.4 0.4 8.9

55=44-50 -1.4 -11.0 -19.2 -29.7 -87.5 -526.1 49.3 -15.5 -41.6 -135.0 501.8 -35.7 21.8 1.6 -16.7 -72.156=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 0.0 -0.3 4.7 11.8 14.1 16.4 12.0 -8.0 -7.1 -4.9 -7.8 -2.8 2.7 -3.4 -1.0 3.0

58=64(t)-64(t-1) 4.0 -4.2 0.3 -10.8 -10.6 -10.4 26.2 15.3 11.5 10.3 0.0 -0.1 3.2 -7.7 -3.3 -1.059 = 57+58 = 60+..+63 4.0 -4.5 5.0 1.0 3.6 6.0 38.2 7.3 4.4 5.4 -7.8 -2.9 5.9 -11.1 -4.3 2.0

60=23 : : : : : : : : : : : : 5.6 -10.8 -4.9 4.3

61=(-)33 : : : : : : : : : : : : -1.0 -1.1 -0.1 -1.8

62 : : : : : : : : : : : : 0.9 0.6 0.0 0.4

63 : : : : : : : : : : : : 0.3 0.2 0.6 -0.864=65+66+69 4.0 -4.2 0.3 -10.8 -10.6 -10.4 26.2 15.3 11.5 10.3 0.0 -0.1 3.2 -7.7 -3.3 -1.0

65 10.8 1.7 3.0 6.2 6.3 1.6 6.7 2.3 1.9 1.0 1.2 -0.6 54.2 4.4 -0.5 -17.066=67+68 1.0 -3.4 -1.4 -14.5 -15.0 -16.5 34.3 19.1 12.8 12.2 -0.6 -1.6 2.6 -10.6 -4.7 0.5

67 29.2 5.3 2.0 -12.0 -29.0 -54.2 188.5 -90.6 469.2 55.6 2.0 -27.0 -3.7 -11.1 3.5 14.468 -1.6 -4.5 -1.8 -14.9 -13.0 -12.1 24.9 34.5 8.3 10.0 -0.8 0.3 2.9 -10.6 -5.1 -0.2

69=70+71 27.6 -9.8 11.0 9.7 8.3 10.5 5.9 3.6 6.9 3.2 2.7 6.7 1.1 3.0 1.4 -4.170 27.4 -29.6 23.6 14.4 82.2 -23.1 20.7 41.8 -10.0 49.0 5.9 54.9 4.0 12.8 -2.7 -7.071 27.6 -8.6 10.4 9.5 4.3 13.7 5.0 0.7 8.7 -0.8 2.3 0.2 0.5 0.9 2.4 -3.472 : : : : : : : : 98.9 -0.2 0.3 -0.4 -100.073 : : : : : : : :

74=45+46+48a -9.4 -17.2 26.8 -6.0 53.0 19.7 73.7 0.6 2.2 18.8 -18.1 -4.4 4.7 -10.9 -13.9 10.1

Table C - Memorandum items75 5.1 2.6 4.4 3.5 4.8 3.9 6.8 6.4 3.0 -1.0 2.2 0.0 1.8 1.6 1.1 2.376 3.2 1.1 5.5 3.9 2.9 7.1 4.8 -1.6 3.7 1.1 1.3 0.6 0.9 1.3 1.8 2.6

77=20+18-7678 2.8 1.9 4.8 5.3 6.1 3.4 3.6 -4.4 5.2 2.0 2.6 1.8 2.7 2.3 1.9 4.0

79 1.1 -0.4 0.2 0.7 0.4 -0.1 -0.7 2.6 1.0 -1.8 -1.3 0.2 -0.2 0.2 -0.7 0.0



Germany



Government revenue and expenditure1=2+6+7+8+9 Total revenue 858,925 965,277 984,380 1,111,692 1,090,918 1,110,315 1,182,702 1,220,853

2=3+4+5 Taxes 420,145 493,080 483,087 585,911 554,747 556,189 598,771 624,8533 . Indirect taxes 196,363 227,306 236,735 273,500 275,529 277,619 295,130 300,6824 . Direct taxes 221,972 262,784 242,252 307,641 274,678 274,165 299,396 319,8665 . Capital taxes 1,810 2,990 4,100 4,770 4,540 4,405 4,245 4,3056 Social contributions 343,470 382,332 399,730 412,449 415,615 426,180 442,255 454,3217 Sales (incl . own account capital formation) 51,616 52,164 62,577 72,391 77,172 84,192 91,304 92,3398 Other current revenue 36,006 32,705 33,568 36,270 38,288 38,558 44,188 42,5889 Capital revenue 7,688 4,996 5,418 4,671 5,096 5,196 6,184 6,752

10=11+..+18 Total expenditure 1,037,926 947,098 1,062,999 1,116,223 1,170,508 1,219,219 1,208,565 1,221,78211 Intermediate consumption 70,773 76,549 88,702 103,336 111,733 118,049 124,076 126,52712 Compensation of employees 164,633 173,963 182,233 189,079 197,812 203,528 208,645 212,33713 Interest 65,300 66,390 63,118 68,469 64,962 63,850 67,500 63,08814 Subsidies 37,819 34,145 25,084 24,268 32,313 29,666 27,422 24,56115 Social benefits 464,117 523,695 581,739 592,394 624,836 634,483 633,852 645,548

15a of which other than transfers in kind 326,243 368,888 412,288 404,984 426,400 430,119 424,068 430,27816 Other current expenditure 37,539 42,371 41,789 46,902 45,938 51,712 51,591 57,73717 Capital transfers payable 149,865 33,698 37,785 40,503 36,000 64,296 35,615 31,93818 Capital investments 47,880 -3,713 42,549 51,272 56,914 53,635 59,864 60,04619 of which, gross fixed capital formation 49,409 48,728 43,419 52,759 57,948 59,467 61,514 61,746

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -179,001 18,179 -78,619 -4,531 -79,590 -108,904 -25,863 -929


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0 0 0 0 0 0 0

22=23-29 Net financial transactions : 18,179 -78,619 -4,531 -79,590 -108,904 -25,863 -92923=24+..+28 Net acquisition of financial assets : 32,659 -8,398 66,691 28,100 171,924 1,202 72,843

24 Currency and deposits : 45,130 5,425 6,863 -3,871 35,997 27,560 13,96825 Debt securities : 3,426 -447 40,200 2,504 103,201 -12,354 -9,98626 Loans : 4,189 -7,511 8,983 3,118 53,384 -6,645 51,75027 Shares and other equity : -5,184 2,587 12,831 33,489 8,682 -6,712 15,26228 Other financial assets : -14,902 -8,452 -2,186 -7,140 -29,340 -647 1,849

29=30+..+33 Net incurrence of liabilities : 14,480 70,221 71,222 107,690 280,828 27,065 73,77230 Currency and deposits : 1,506 157 5,793 -2,484 907 -459 -68831 Debt securities : 28,897 69,926 40,112 116,431 90,417 64,850 87,13632 Loans : -17,994 1,495 21,234 1,239 192,779 -37,736 -14,93833 Other liabilities : 2,071 -1,357 4,083 -7,496 -3,275 410 2,262


35=44(t)-44(t-1)-23 Other changes in financial assets : -28,699 19,591 2,819 16,405 45,319 -17,252 41,25636=50(t)-50(t-1)-29 Other changes in liabilities : -3,236 8,486 59,818 5,006 41,485 69,599 81,184

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -25,463 11,105 -56,999 11,399 3,834 -86,851 -39,928

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 1,028,545 1,035,213 1,052,624 1,171,786 1,190,513 1,205,095 1,240,136 1,276,02342 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets : 604,398 548,831 688,444 732,949 950,192 934,142 1,048,24145 Currency and deposits : 211,502 153,610 198,958 196,754 232,904 260,873 277,11346 Debt securities : 8,697 10,002 46,430 47,676 151,557 137,550 135,70147 Loans : 82,221 68,004 76,072 79,369 132,663 126,041 177,84948 Shares and other equity : 192,519 200,792 264,549 303,616 349,207 345,260 387,401

48a of which, Investment fund shares : 14,005 20,225 13,469 11,382 10,684 10,382 11,93749 Other financial assets : 109,459 116,423 102,435 105,534 83,861 64,418 70,177

50=51+..+54 Liabilities : 1,259,710 1,612,059 1,744,113 1,856,809 2,179,122 2,275,786 2,430,74251 Currency and deposits : 10,939 5,442 12,467 9,982 10,889 10,429 9,74352 Debt securities : 775,264 1,127,052 1,256,203 1,369,383 1,482,863 1,608,832 1,739,04153 Loans : 473,464 475,189 470,767 472,647 681,829 652,999 645,26454 Other liabilities : 43 4,376 4,676 4,797 3,541 3,526 36,694

55=44-50 Financial net worth : -655,312 -1,063,228 -1,055,669 -1,123,860 -1,228,930 -1,341,644 -1,382,50156=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -179,001 18,179 -78,619 -4,531 -79,590 -108,904 -25,863 -929

58=64(t)-64(t-1) Change in Government Debt : : 70,814 69,019 116,649 303,032 36,621 77,52759 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -7,805 64,488 37,059 194,128 10,758 76,598




63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : 1,245,785 1,541,400 1,669,035 1,785,684 2,088,716 2,125,337 2,202,864

65 . Currency and deposits : 10,940 5,402 12,466 9,981 10,890 10,429 9,74266=67+68 . Debt securities : 761,381 1,060,808 1,185,837 1,303,061 1,396,195 1,462,256 1,548,351

67 .. short term : 11,219 36,969 44,734 106,510 86,708 116,289 106,94568 .. long term : 750,162 1,023,839 1,141,103 1,196,551 1,309,487 1,345,967 1,441,406

69=70+71 . Loans : 473,464 475,190 470,732 472,643 681,631 652,652 644,77170 .. short term : 14,081 34,111 59,137 45,487 211,857 171,584 124,39971 .. long term : 459,383 441,079 411,594 427,156 469,774 481,068 520,37272 Intergovernmental lending (asset)* : : : : 784 6,049 19,994 56,09173 Intergovernmental lending (borrowing)* : : : : 0 0 0 0




79 Government employment (in thousands of persons) 4,956 4,687 4,541 4,578 4,631 4,656 4,555 4,524



Germany



Government revenue and expenditure1=2+6+7+8+9 1,259,033 1,308,541 1,356,490 1,415,506 1,473,847 -282,818 416,857 436,671 267,193 635,944

2=3+4+5 650,964 673,582 704,175 738,662 772,489 372,193 295,905 104,391 03 305,792 314,378 325,772 334,599 345,122 199,054 125,879 20,189 04 340,540 353,752 372,113 397,057 421,253 173,139 163,912 84,202 05 4,632 5,452 6,290 7,006 6,114 0 6,114 0 06 465,031 482,002 500,810 523,926 548,598 7,237 24,088 3,650 513,6237 95,912 99,700 102,558 106,218 110,805 24,858 40,358 42,325 3,2648 41,330 46,335 43,027 38,441 37,887 -264,014 12,078 67,376 103,405 119,0429 5,796 6,922 5,920 8,259 4,068 -18,804 491 8,944 13,422 15

10=11+..+18 1,263,000 1,291,848 1,332,634 1,386,760 1,439,839 -282,818 410,734 428,371 257,727 625,82511 132,994 137,657 143,816 150,113 156,264 38,174 48,394 58,147 11,54912 217,761 224,422 229,843 237,813 246,740 31,789 129,296 63,066 22,58913 55,517 46,959 42,322 37,370 33,812 -29 17,971 12,829 2,892 14914 25,808 26,298 27,287 27,992 28,365 8,416 12,267 6,940 74215 666,407 691,114 721,738 755,244 784,479 63,571 62,892 69,618 588,398

15a 438,743 451,389 469,373 486,817 506,098 63,355 56,607 34,517 351,61916 74,417 73,416 74,896 75,728 75,407 -263,985 194,778 114,554 28,462 1,59817 31,503 33,526 30,055 35,628 43,942 -18,804 33,127 23,268 6,339 1218 58,593 58,456 62,677 66,872 70,830 22,908 24,871 22,263 78819 60,374 60,596 64,161 68,174 73,255 23,758 24,897 23,812 788

Government deficit

20=1-10 -3,967 16,693 23,856 28,746 34,008 6,123 8,300 9,466 10,119


21=20-22 0 0 0 0 0 0 0 0 0

22=23-29 -3,967 16,693 23,856 28,746 34,008 6,123 8,300 9,466 10,11923=24+..+28 -16,133 9,463 -11,412 13,343 14,377 -3,143 17,571 -16,983 4,244 12,688

24 -17,835 17,229 11,109 17,681 30,388 3 24,163 -4,284 4,665 5,84125 -7,373 -11,023 -3,939 -82 -9,971 -1,328 -5,389 -5,409 287 1,86826 -1,904 -7,556 -15,427 -2,224 -5,115 -2,081 -630 -3,036 185 44727 11,493 5,678 769 1,267 6,465 -1 3,282 54 1,057 2,07328 -514 5,135 -3,924 -3,299 -7,390 264 -3,855 -4,308 -1,950 2,459

29=30+..+33 -12,166 -7,230 -35,268 -15,403 -19,631 -3,143 11,448 -25,283 -5,222 2,56930 848 1,558 2,153 1,541 -1,194 0 -1,194 - - -31 8,918 7,726 -17,729 -9,209 -17,148 -1,331 -8,961 -7,399 543 -32 -23,359 -20,844 -25,111 -7,505 -27,740 -2,079 -1,931 -17,290 -6,089 -35133 1,427 4,330 5,419 -230 26,451 267 23,534 -594 324 2,920


35=44(t)-44(t-1)-23 19,194 30,098 22,397 378 29,947 -322 3,466 15,424 10,323 1,05636=50(t)-50(t-1)-29 -67,475 102,874 -6,001 11,939 -32,450 -326 -23,728 -8,855 -359 818

37=35-36 = 55(t)-55(t-1)-22 86,669 -72,776 28,398 -11,561 62,397 27,194 24,279 10,682 238

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 1,300,876 1,319,685 1,338,508 1,357,475 : : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 1,051,302 1,090,863 1,101,848 1,115,569 1,159,893 -19,574 499,845 223,903 307,968 147,75145 260,802 301,818 314,309 330,914 363,368 0 133,132 62,634 62,215 105,38746 126,670 131,904 137,066 140,195 125,702 -6,505 92,230 24,435 3,019 12,52347 176,002 168,473 153,080 150,898 145,811 -13,070 112,325 32,954 12,936 66648 414,637 426,000 441,530 452,603 476,895 1 149,839 97,070 217,240 12,745

48a 14,255 16,175 20,140 24,073 28,212 : : : :49 73,191 62,668 55,863 40,959 48,117 0 12,319 6,810 12,558 16,430

50=51+..+54 2,351,101 2,446,745 2,405,476 2,402,012 2,349,931 -19,578 1,523,720 658,397 153,477 33,91551 10,592 12,150 14,303 15,844 14,651 0 14,651 - - -52 1,682,107 1,791,672 1,768,389 1,768,250 1,718,510 -6,505 1,309,991 411,710 3,314 -53 621,365 603,630 580,947 574,225 544,875 -13,073 167,827 243,788 145,541 79254 37,037 39,293 41,837 43,693 71,895 0 31,251 2,899 4,622 33,123

55=44-50 -1,299,799 -1,355,882 -1,303,628 -1,286,443 -1,190,038 -1,023,875 -434,494 154,491 113,83656=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -3,967 16,693 23,856 28,746 34,008 6,123 8,300 9,466 10,119

58=64(t)-64(t-1) -14,736 1,441 -29,823 -15,842 -51,123 -3,396 -15,550 -26,399 -5,427 -35159 = 57+58 = 60+..+63 -18,703 18,134 -5,967 12,904 -17,115 -3,396 -9,427 -18,099 4,039 9,768

60=23 : 12,571 -5,309 20,954 21,039 -3,141 18,339 -11,644 6,542 10,944

61=(-)33 : -4,330 -5,421 232 -26,451 -268 -23,534 594 -324 -2,919

62 : 13,000 10,864 -669 -5,042 12 -3,461 -1,711 118 0

63 : -3,108 -6,101 -7,613 -6,661 0 -770 -5,337 -2,297 1,74364=65+66+69 2,188,128 2,189,569 2,159,746 2,143,904 2,092,781 -18,860 1,351,290 611,072 148,487 792

65 10,592 12,150 14,303 15,845 14,651 0 14,651 0 0 066=67+68 1,556,535 1,574,112 1,564,775 1,554,093 1,533,480 -5,791 1,168,840 367,484 2,947 0

67 85,836 72,618 65,676 69,715 48,789 -51 36,297 12,543 0 068 1,470,698 1,501,494 1,499,098 1,484,378 1,484,691 -5,739 1,132,542 354,941 2,947 0

69=70+71 621,001 603,307 580,668 573,966 544,650 -13,071 167,800 243,589 145,540 79270 100,363 95,770 85,041 91,352 83,476 -4,383 47,758 15,753 24,101 24771 520,638 507,536 495,627 482,615 461,175 -8,686 120,041 227,836 121,439 54572 67,024 69,804 66,764 66,751 66,737 : : : :73 0 0 1,230 1,230 1,230 : : : :

74=45+46+48a 401,727 449,897 471,515 495,182 517,282 : : : :

Table C - Memorandum items75 542,853 563,962 587,397 615,494 638,875 66,896 162,577 140,525 268,87776 63,241 65,017 66,681 68,437 71,364 19,296 20,732 30,130 1,206

77=20+18-76 -8,615 10,132 19,852 27,181 33,474 9,735 12,439 1,599 9,70178 2,826,240 2,938,590 3,048,860 3,159,750 3,277,340

79 4,521 4,539 4,550 4,582 4,644

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Germany






15a of which other than transfers in kind 17.2 17.4 17.9 15.8 17.3 16.7 15.7 15.6 15.5 15.4 15.4 15.4 15.4 1.9 1.7 1.1 10.716 Other current expenditure 2.0 2.0 1.8 1.8 1.9 2.0 1.9 2.1 2.6 2.5 2.5 2.4 2.3 -8.1 5.9 3.5 0.9 0.017 Capital transfers payable 7.9 1.6 1.6 1.6 1.5 2.5 1.3 1.2 1.1 1.1 1.0 1.1 1.3 -0.6 1.0 0.7 0.2 0.018 Capital investments 2.5 -0.2 1.8 2.0 2.3 2.1 2.2 2.2 2.1 2.0 2.1 2.1 2.2 0.7 0.8 0.7 0.019 of which, gross fixed capital formation 2.6 2.3 1.9 2.1 2.4 2.3 2.3 2.2 2.1 2.1 2.1 2.2 2.2 0.7 0.8 0.7 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -9.4 0.9 -3.4 -0.2 -3.2 -4.2 -1.0 0.0 -0.1 0.6 0.8 0.9 1.0 0.2 0.3 0.3 0.3


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : 0.9 -3.4 -0.2 -3.2 -4.2 -1.0 0.0 -0.1 0.6 0.8 0.9 1.0 0.2 0.3 0.3 0.323=24+..+28 Net acquisition of financial assets : 1.5 -0.4 2.6 1.1 6.7 0.0 2.6 -0.6 0.3 -0.4 0.4 0.4 -0.1 0.5 -0.5 0.1 0.4

24 Currency and deposits : 2.1 0.2 0.3 -0.2 1.4 1.0 0.5 -0.6 0.6 0.4 0.6 0.9 0.0 0.7 -0.1 0.1 0.225 Debt securities : 0.2 0.0 1.6 0.1 4.0 -0.5 -0.4 -0.3 -0.4 -0.1 0.0 -0.3 0.0 -0.2 -0.2 0.0 0.126 Loans : 0.2 -0.3 0.4 0.1 2.1 -0.2 1.9 -0.1 -0.3 -0.5 -0.1 -0.2 -0.1 0.0 -0.1 0.0 0.027 Shares and other equity : -0.2 0.1 0.5 1.4 0.3 -0.2 0.6 0.4 0.2 0.0 0.0 0.2 0.0 0.1 0.0 0.0 0.128 Other financial assets : -0.7 -0.4 -0.1 -0.3 -1.1 0.0 0.1 0.0 0.2 -0.1 -0.1 -0.2 0.0 -0.1 -0.1 -0.1 0.1

29=30+..+33 Net incurrence of liabilities : 0.7 3.1 2.8 4.4 10.9 1.0 2.7 -0.4 -0.2 -1.2 -0.5 -0.6 -0.1 0.3 -0.8 -0.2 0.130 Currency and deposits : 0.1 0.0 0.2 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 - - -31 Debt securities : 1.4 3.0 1.6 4.7 3.5 2.4 3.2 0.3 0.3 -0.6 -0.3 -0.5 0.0 -0.3 -0.2 0.0 -32 Loans : -0.9 0.1 0.8 0.1 7.5 -1.4 -0.5 -0.8 -0.7 -0.8 -0.2 -0.8 -0.1 -0.1 -0.5 -0.2 0.033 Other liabilities : 0.1 -0.1 0.2 -0.3 -0.1 0.0 0.1 0.1 0.1 0.2 0.0 0.8 0.0 0.7 0.0 0.0 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : -1.4 0.9 0.1 0.7 1.8 -0.6 1.5 0.7 1.0 0.7 0.0 0.9 0.0 0.1 0.5 0.3 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -0.2 0.4 2.3 0.2 1.6 2.6 2.9 -2.4 3.5 -0.2 0.4 -1.0 0.0 -0.7 -0.3 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -1.2 0.5 -2.2 0.5 0.1 -3.2 -1.4 3.1 -2.5 0.9 -0.4 1.9 0.8 0.7 0.3 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : : :41 Fixed assets 54.2 48.9 45.7 45.7 48.4 46.7 45.9 46.3 46.0 44.9 43.9 43.0 : : : : :42 Other produced assets : : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 28.6 23.9 26.9 29.8 36.8 34.6 38.0 37.2 37.1 36.1 35.3 35.4 -0.6 15.3 6.8 9.4 4.545 Currency and deposits : 10.0 6.7 7.8 8.0 9.0 9.7 10.0 9.2 10.3 10.3 10.5 11.1 0.0 4.1 1.9 1.9 3.246 Debt securities : 0.4 0.4 1.8 1.9 5.9 5.1 4.9 4.5 4.5 4.5 4.4 3.8 -0.2 2.8 0.7 0.1 0.447 Loans : 3.9 3.0 3.0 3.2 5.1 4.7 6.4 6.2 5.7 5.0 4.8 4.4 -0.4 3.4 1.0 0.4 0.048 Shares and other equity : 9.1 8.7 10.3 12.3 13.5 12.8 14.0 14.7 14.5 14.5 14.3 14.6 0.0 4.6 3.0 6.6 0.4

48a of which, Investment fund shares : 0.7 0.9 0.5 0.5 0.4 0.4 0.4 0.5 0.6 0.7 0.8 0.9 : : : :49 Other financial assets : 5.2 5.1 4.0 4.3 3.3 2.4 2.5 2.6 2.1 1.8 1.3 1.5 0.0 0.4 0.2 0.4 0.5

50=51+..+54 Liabilities : 59.5 70.1 68.1 75.5 84.5 84.2 88.1 83.2 83.3 78.9 76.0 71.7 -0.6 46.5 20.1 4.7 1.051 Currency and deposits : 0.5 0.2 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.4 0.0 0.4 - - -52 Debt securities : 36.6 49.0 49.0 55.7 57.5 59.5 63.0 59.5 61.0 58.0 56.0 52.4 -0.2 40.0 12.6 0.1 -53 Loans : 22.4 20.7 18.4 19.2 26.4 24.2 23.4 22.0 20.5 19.1 18.2 16.6 -0.4 5.1 7.4 4.4 0.054 Other liabilities : 0.0 0.2 0.2 0.2 0.1 0.1 1.3 1.3 1.3 1.4 1.4 2.2 0.0 1.0 0.1 0.1 1.0

55=44-50 Financial net worth : -31.0 -46.2 -41.2 -45.7 -47.6 -49.6 -50.1 -46.0 -46.1 -42.8 -40.7 -36.3 -31.2 -13.3 4.7 3.556=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -9.4 0.9 -3.4 -0.2 -3.2 -4.2 -1.0 0.0 -0.1 0.6 0.8 0.9 1.0 0.2 0.3 0.3 0.3

58=64(t)-64(t-1) Change in Government Debt : : 3.1 2.7 4.7 11.7 1.4 2.8 -0.5 0.0 -1.0 -0.5 -1.6 -0.1 -0.5 -0.8 -0.2 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -0.3 2.5 1.5 7.5 0.4 2.8 -0.7 0.6 -0.2 0.4 -0.5 -0.1 -0.3 -0.6 0.1 0.3

60=23 Net acquisition of financial assets : : : : : : : : : 0.4 -0.2 0.7 0.6 -0.1 0.6 -0.4 0.2 0.3

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.1 -0.2 0.0 -0.8 0.0 -0.7 0.0 0.0 -0.1

62Valuation effects and other changes in volume in government debt : : : : : : : : : 0.4 0.4 0.0 -0.2 0.0 -0.1 -0.1 0.0 0.0

63 Statistical discrepancies : : : : : : : : : -0.1 -0.2 -0.2 -0.2 0.0 0.0 -0.2 -0.1 0.164=65+66+69 Government debt (nominal / face value) : 58.9 67.0 65.2 72.6 81.0 78.6 79.9 77.4 74.5 70.8 67.9 63.9 -0.6 41.2 18.6 4.5 0.0

65 . Currency and deposits : 0.5 0.2 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.4 0.0 0.4 0.0 0.0 0.066=67+68 . Debt securities : 36.0 46.1 46.3 53.0 54.1 54.1 56.1 55.1 53.6 51.3 49.2 46.8 -0.2 35.7 11.2 0.1 0.0

67 .. short term : 0.5 1.6 1.7 4.3 3.4 4.3 3.9 3.0 2.5 2.2 2.2 1.5 0.0 1.1 0.4 0.0 0.068 .. long term : 35.4 44.5 44.5 48.6 50.8 49.8 52.3 52.0 51.1 49.2 47.0 45.3 -0.2 34.6 10.8 0.1 0.0

69=70+71 . Loans : 22.4 20.7 18.4 19.2 26.4 24.1 23.4 22.0 20.5 19.0 18.2 16.6 -0.4 5.1 7.4 4.4 0.070 .. short term : 0.7 1.5 2.3 1.8 8.2 6.3 4.5 3.6 3.3 2.8 2.9 2.5 -0.1 1.5 0.5 0.7 0.071 .. long term : 21.7 19.2 16.1 17.4 18.2 17.8 18.9 18.4 17.3 16.3 15.3 14.1 -0.3 3.7 7.0 3.7 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.2 0.7 2.0 2.4 2.4 2.2 2.1 2.0 : : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : : :

74=45+46+48a Government liquid assets : 11.1 8.0 10.1 10.4 15.3 15.1 15.4 14.2 15.3 15.5 15.7 15.8 : : : :


77=20+18-76 Net savings and capital transfers -9.2 -1.5 -3.7 -0.3 -3.2 -4.3 -0.9 -0.1 -0.3 0.3 0.7 0.9 1.0 0.3 0.4 0.0 0.378 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Germany



Government revenue and expenditure1=2+6+7+8+9 0.2 1.2 -0.2 1.8 4.5 5.1 2.9 -1.9 1.8 6.5 3.2 3.1 3.9 3.7 4.4 4.1

2=3+4+5 -0.8 1.2 -0.2 2.5 7.7 9.1 3.3 -5.3 0.3 7.7 4.4 4.2 3.5 4.5 4.9 4.63 0.7 2.1 -0.8 0.8 3.9 9.6 1.5 0.7 0.8 6.3 1.9 1.7 2.8 3.6 2.7 3.14 -2.3 0.2 0.1 4.4 11.6 8.6 4.8 -10.7 -0.2 9.2 6.8 6.5 3.9 5.2 6.7 6.15 -1.3 11.2 27.3 -4.4 -8.3 11.7 13.6 -4.8 -3.0 -3.6 1.4 7.6 17.7 15.4 11.4 -12.76 1.4 1.6 0.1 -0.2 1.1 0.0 2.0 0.8 2.5 3.8 2.7 2.4 3.6 3.9 4.6 4.77 1.1 3.6 0.7 7.2 3.9 6.1 4.9 6.6 9.1 8.4 1.1 3.9 3.9 2.9 3.6 4.38 -0.2 -7.3 -5.7 8.4 0.8 2.4 4.8 5.6 0.7 14.6 -3.6 -3.0 12.1 -7.1 -10.7 -1.49 3.4 5.2 -4.5 2.7 -1.1 5.8 -17.6 9.1 2.0 19.0 9.2 -14.2 19.4 -14.5 39.5 -50.7

10=11+..+18 2.1 1.7 -0.9 1.1 0.6 0.6 3.7 4.9 4.2 -0.9 1.1 3.4 2.3 3.2 4.1 3.811 3.4 0.5 1.1 5.1 4.1 4.0 7.6 8.1 5.7 5.1 2.0 5.1 3.5 4.5 4.4 4.112 2.1 1.0 0.1 0.0 0.5 0.5 2.7 4.6 2.9 2.5 1.8 2.6 3.1 2.4 3.5 3.813 -0.6 -0.7 -2.2 -0.2 2.5 3.6 2.2 -5.1 -1.7 5.7 -6.5 -12.0 -15.4 -9.9 -11.7 -9.514 -4.8 -7.2 -5.2 -6.3 1.1 -3.1 -1.2 33.2 -8.2 -7.6 -10.4 5.1 1.9 3.8 2.6 1.315 3.7 2.7 -0.2 0.9 0.1 -0.1 1.8 5.5 1.5 -0.1 1.8 3.2 3.7 4.4 4.6 3.9

15a 3.9 2.8 0.5 0.4 -0.8 -1.7 0.8 5.3 0.9 -1.4 1.5 2.0 2.9 4.0 3.7 4.016 -4.5 6.8 -3.7 6.3 -0.3 3.2 9.1 -2.1 12.6 -0.2 11.9 28.9 -1.3 2.0 1.1 -0.417 0.5 2.2 -5.2 2.6 -10.9 -3.0 24.0 -11.1 78.6 -44.6 -10.3 -1.4 6.4 -10.4 18.5 23.318 -2.4 -1.4 -7.6 0.1 8.7 0.9 9.9 11.0 -5.8 11.6 0.3 -2.4 -0.2 7.2 6.7 5.919 -1.6 -2.8 -6.1 -1.7 10.0 1.8 8.5 9.8 2.6 3.4 0.4 -2.2 0.4 5.9 6.3 7.5

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -4.2 -0.2 -2.7 -1.6 1.7 2.8 10.8 4.1 23.5 0.1 7.8 -1.5 0.9 -1.0 1.2 1.3

24 -9.1 0.1 -3.4 3.7 20.8 5.8 3.5 -1.9 18.3 11.8 5.4 -6.4 6.6 3.7 5.6 9.225 5.3 26.5 8.1 -4.7 -5.7 21.1 584.6 5.4 216.5 -8.2 -7.3 -5.4 -8.7 -3.0 -0.1 -7.126 1.8 -2.5 -8.5 -9.9 -5.8 4.0 13.5 4.1 67.3 -5.0 41.1 -1.1 -4.3 -9.2 -1.5 -3.427 -5.2 1.3 -4.3 1.4 -2.2 -0.8 5.2 12.7 2.9 -1.9 4.4 3.0 1.4 0.2 0.3 1.428 -0.1 -3.2 4.0 -7.0 -11.9 2.9 -2.1 -7.0 -27.8 -0.8 2.9 -0.7 7.0 -6.3 -5.9 -18.0

29=30+..+33 5.0 6.8 4.9 4.6 3.1 0.7 4.4 6.2 15.1 1.2 3.2 -0.5 -0.3 -1.4 -0.6 -0.830 -28.3 -5.5 -23.0 3.0 36.2 -9.9 86.8 -19.9 9.1 -4.2 -6.6 8.7 14.7 17.7 10.8 -7.531 8.2 8.2 7.3 6.7 4.7 2.7 3.5 9.3 6.6 4.4 5.4 0.5 0.5 -1.0 -0.5 -1.032 -1.9 3.8 0.7 0.3 -1.1 -4.4 4.7 0.3 40.8 -5.5 -2.3 -3.6 -3.4 -4.2 -1.3 -4.833 6467.4 54.5 -24.3 -31.8 19.7 42.3 89.2 -160.3 -68.3 11.6 64.2 3.9 11.7 13.8 -0.5 60.5


35=44(t)-44(t-1)-23 0.3 2.1 1.3 3.6 1.2 6.8 0.5 2.4 6.2 -1.8 4.4 1.8 2.9 2.1 0.0 2.736=50(t)-50(t-1)-29 0.6 -0.7 2.1 0.6 -1.8 -1.9 3.7 0.3 2.2 3.2 3.6 -2.8 4.4 -0.2 0.5 -1.4

37=35-36 = 55(t)-55(t-1)-22 0.8 -2.5 2.5 -1.1 -3.3 -6.5 5.7 -1.1 -0.3 7.1 3.0 -6.3 5.6 -2.1 0.9 -4.9

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 -0.2 0.1 0.6 0.5 2.4 5.1 3.4 1.6 1.2 2.9 2.9 1.9 1.4 1.4 1.4 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -3.9 1.8 -1.4 2.1 2.9 9.6 11.2 6.5 29.6 -1.7 12.2 0.3 3.8 1.0 1.2 4.045 -9.3 -0.5 -3.8 3.9 20.8 6.4 0.8 -1.1 18.4 12.0 6.2 -5.9 15.7 4.1 5.3 9.846 14.6 9.6 2.7 4.4 -42.9 20.5 575.1 2.7 217.9 -9.2 -1.3 -6.7 4.1 3.9 2.3 -10.347 2.0 -2.5 -8.5 -9.9 -5.9 4.0 14.4 4.3 67.1 -5.0 41.1 -1.0 -4.3 -9.1 -1.4 -3.448 -7.6 7.9 -0.8 9.6 4.0 17.6 7.8 14.8 15.0 -1.1 12.2 7.0 2.7 3.6 2.5 5.4

48a 6.0 -1.8 -8.2 44.3 -20.8 -11.0 -5.5 -15.5 -6.1 -2.8 15.0 19.4 13.5 24.5 19.5 17.249 4.9 -1.5 5.6 -4.2 -13.4 2.0 -0.4 3.0 -20.5 -23.2 8.9 4.3 -14.4 -10.9 -26.7 17.5

50=51+..+54 5.6 6.0 6.9 5.1 1.3 -1.3 8.1 6.5 17.4 4.4 6.8 -3.3 4.1 -1.7 -0.1 -2.251 -28.3 -5.5 -23.0 3.0 36.2 -9.9 86.8 -19.9 9.1 -4.2 -6.6 8.7 14.7 17.7 10.8 -7.552 9.9 7.4 10.3 7.4 2.2 0.1 8.9 9.0 8.3 8.5 8.1 -3.3 6.5 -1.3 0.0 -2.853 -2.1 3.6 0.6 0.2 -1.1 -4.5 5.0 0.4 44.3 -4.2 -1.2 -3.7 -2.9 -3.8 -1.2 -5.154 2799.3 1.9 2.4 2.6 2.5 2.1 2.1 2.6 -26.2 -0.4 940.7 0.9 6.1 6.5 4.4 64.5

55=44-50 12.9 8.8 12.1 6.8 0.5 -7.0 6.2 6.5 9.3 9.2 3.0 -6.0 4.3 -3.9 -1.3 -7.556=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -6.9 -7.1 -6.1 -5.3 -2.7 0.3 -0.3 -4.8 -6.1 -1.2 0.0 -0.2 0.8 1.1 1.3 1.6

58=64(t)-64(t-1) 4.3 6.7 5.0 4.8 3.2 0.5 4.3 7.0 17.0 1.8 3.6 -0.7 0.1 -1.4 -0.7 -2.459 = 57+58 = 60+..+63 -2.7 -0.4 -1.0 -0.5 0.6 0.8 4.0 2.2 10.9 0.5 3.6 -0.8 0.8 -0.3 0.6 -0.8

60=23 : : : : : : : : : : : : 0.6 -0.2 1.0 1.0

61=(-)33 : : : : : : : : : : : : -0.2 -0.2 0.0 -1.2

62 : : : : : : : : : : : : 0.6 0.5 0.0 -0.2

63 : : : : : : : : : : : : -0.1 -0.3 -0.4 -0.364=65+66+69 4.3 6.7 5.0 4.8 3.2 0.5 4.3 7.0 17.0 1.8 3.6 -0.7 0.1 -1.4 -0.7 -2.4

65 -28.5 -5.4 -22.9 2.2 37.2 -9.9 86.8 -19.9 9.1 -4.2 -6.6 8.7 14.7 17.7 10.8 -7.566=67+68 8.4 8.5 7.5 7.1 5.0 2.8 3.6 9.9 7.1 4.7 5.9 0.5 1.1 -0.6 -0.7 -1.3

67 34.3 16.9 -0.4 3.7 2.5 4.0 13.5 138.1 -18.6 34.1 -8.0 -19.7 -15.4 -9.6 6.1 -30.068 7.7 8.1 7.8 7.2 5.1 2.7 3.2 4.9 9.4 2.8 7.1 2.0 2.1 -0.2 -1.0 0.0

69=70+71 -2.1 3.6 0.6 0.2 -1.1 -4.5 4.9 0.4 44.2 -4.3 -1.2 -3.7 -2.8 -3.8 -1.2 -5.170 21.8 26.3 -1.1 11.4 11.2 5.8 47.3 -23.1 365.8 -19.0 -27.5 -19.3 -4.6 -11.2 7.4 -8.671 -3.1 2.3 0.7 -0.6 -2.1 -5.5 0.8 3.8 10.0 2.4 8.2 0.1 -2.5 -2.3 -2.6 -4.472 : : : : : : : : 671.5 230.5 180.5 19.5 4.1 -4.4 0.0 0.073 : : : : : : : : 0.0 0.0

74=45+46+48a -7.2 -0.1 -3.9 7.2 12.7 5.4 18.5 -1.2 54.5 3.5 3.9 -5.4 12.0 4.8 5.0 4.5

Table C - Memorandum items75 2.8 1.2 -0.4 1.0 1.7 2.2 4.1 5.2 2.5 2.5 2.8 4.5 3.9 4.2 4.8 3.876 1.2 0.8 1.3 1.2 2.4 5.0 3.7 2.7 2.5 3.9 4.0 3.4 2.8 2.6 2.6 4.3

77=20+18-7678 1.4 0.5 2.3 1.3 4.0 5.0 1.9 -4.0 4.9 4.8 2.0 2.5 4.0 3.8 3.6 3.7

79 -0.2 -0.3 -1.2 -0.1 0.4 0.2 0.2 1.2 0.5 -2.2 -0.7 -0.1 0.4 0.2 0.7 1.4



Estonia




2=3+4+5 Taxes 662 1,245 2,206 3,268 3,100 2,990 3,288 3,6503 . Indirect taxes 361 768 1,424 1,991 2,056 2,020 2,242 2,4664 . Direct taxes 301 477 782 1,277 1,045 970 1,047 1,1845 . Capital taxes - - - - - - - -6 Social contributions 341 677 1,161 1,918 1,852 1,910 1,968 2,0367 Sales (incl . own account capital formation) 106 174 315 453 439 450 487 5248 Other current revenue 48 120 231 397 492 430 448 4599 Capital revenue 12 25 40 89 323 210 240 334

10=11+..+18 Total expenditure 1,139 2,245 3,827 6,566 6,515 5,962 6,238 7,04911 Intermediate consumption 300 479 737 1,071 971 1,014 1,095 1,18112 Compensation of employees 327 665 1,107 1,835 1,780 1,713 1,776 1,84113 Interest 13 18 21 34 27 19 22 2614 Subsidies 22 67 81 158 134 156 164 16515 Social benefits 300 682 1,154 1,976 2,218 2,138 2,149 2,235

15a of which other than transfers in kind 264 587 1,003 1,717 1,947 1,875 1,868 1,92416 Other current expenditure 14 36 182 263 296 276 299 32317 Capital transfers payable 6 21 54 161 198 148 149 14718 Capital investments 157 277 491 1,068 891 499 586 1,13119 of which, gross fixed capital formation 157 271 521 1,025 882 713 819 1,134

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 30 -4 127 -440 -309 28 193 -46


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -25 -33 27 8 -19 19 -7

22=23-29 Net financial transactions : 21 160 -468 -317 47 174 -4023=24+..+28 Net acquisition of financial assets : 29 260 -248 108 80 10 733

24 Currency and deposits : 10 145 43 396 -207 123 13025 Debt securities : 28 89 -330 -145 13 -249 5126 Loans : -9 -15 -7 38 57 48 29927 Shares and other equity : 0 -11 4 -255 186 17 21828 Other financial assets : 0 52 41 74 31 71 35

29=30+..+33 Net incurrence of liabilities : 8 101 220 425 33 -164 77230 Currency and deposits : - - - - 0 25 631 Debt securities : -11 2 49 66 1 13 -732 Loans : 5 5 98 185 -32 9 73633 Other liabilities : 13 94 73 173 65 -211 37


35=44(t)-44(t-1)-23 Other changes in financial assets : -446 333 63 80 1,064 234 9236=50(t)-50(t-1)-29 Other changes in liabilities : -170 -19 -8 -9 -80 -3 -3

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -276 352 71 89 1,145 237 95

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 2,279 4,526 5,573 5,761 6,905 7,150 7,97445 Currency and deposits : 269 559 666 1,062 855 978 1,10746 Debt securities : 30 899 1,236 1,107 1,109 862 91247 Loans : 34 173 155 193 251 299 59848 Shares and other equity : 1,770 2,413 2,770 2,579 3,843 4,111 4,420

48a of which, Investment fund shares : 3 31 37 10 8 12 2149 Other financial assets : 177 483 745 819 848 901 937

50=51+..+54 Liabilities : 420 919 1,390 1,805 1,759 1,592 2,36151 Currency and deposits : - - - - 0 25 3152 Debt securities : 54 136 173 239 241 254 24753 Loans : 262 381 574 759 727 736 1,47154 Other liabilities : 104 402 643 807 791 578 612


Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) 30 -4 127 -440 -309 28 193 -46

58=64(t)-64(t-1) Change in Government Debt : : 21 146 255 -31 47 73459 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 147 -295 -54 -4 240 688

60=23 Net acquisition of financial assets : : : : : : 11 734

61=(-)33 Incurrence in liabilities not in government debt : : : : : : 211 -37

62 Valuation effects and other changes in volume in government debt : : : : : : -1 0

63 Statistical discrepancies : : : : : : 19 -864=65+66+69 Government debt (nominal / face value) : 316 512 741 996 964 1,011 1,746

65 . Currency and deposits : - - - - 0 25 3166=67+68 . Debt securities : 54 135 171 239 240 253 246

67 .. short term : 2 0 0 4 0 0 068 .. long term : 52 135 171 234 240 253 246

69=70+71 . Loans : 262 377 570 757 725 734 1,46870 .. short term : 6 10 10 12 6 7 1171 .. long term : 256 367 560 746 719 726 1,45872 Intergovernmental lending (asset)* : : : : 0 0 14 35573 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : 301 1,489 1,939 2,179 1,972 1,851 2,041

Table C - Memorandum items75 Government final consumption expenditure 719 1,179 1,887 3,080 2,981 2,961 3,101 3,30076 Consumption of fixed capital 160 110 205 364 395 417 431 483

77=20+18-76 Net savings and capital transfers 27 164 413 263 188 110 348 60278 GDP 2,779 6,171 11,262 16,517 14,146 14,717 16,668 17,935




Estonia




2=3+4+5 3,882 4,229 4,540 4,803 5,059 4,989 70 03 2,525 2,750 2,933 3,175 3,349 3,279 70 04 1,357 1,479 1,607 1,628 1,710 1,710 0 05 - - - - - - - -6 2,116 2,222 2,339 2,482 2,698 1,407 9 1,2827 565 616 624 646 698 476 221 08 404 457 462 424 525 -2,262 816 1,810 1619 280 206 235 132 205 -38 141 102 0

10=11+..+18 7,280 7,592 8,185 8,557 9,274 -2,300 7,917 2,271 1,38711 1,247 1,326 1,382 1,464 1,558 919 623 1712 2,009 2,163 2,338 2,484 2,666 1,523 1,061 8113 21 21 19 11 9 -1 5 6 014 125 91 92 114 112 77 27 915 2,345 2,473 2,726 2,933 3,140 2,411 83 645

15a 2,016 2,124 2,345 2,516 2,695 2,353 60 28216 369 349 405 434 388 -2,261 1,988 50 61117 171 153 168 149 148 -38 139 29 1718 993 1,017 1,055 969 1,254 855 392 719 1,055 1,011 1,084 982 1,281 876 397 7

Government deficit

20=1-10 -32 138 14 -71 -91 -89 -58 56


21=20-22 8 4 1 -9 -1 0 -2 1

22=23-29 -40 134 13 -62 -90 -89 -56 5623=24+..+28 153 254 -134 83 112 -102 100 25 89

24 180 10 -298 82 304 -76 300 4 7625 -171 141 -47 0 -303 0 -303 0 026 130 -19 -44 -15 -12 22 -34 0 027 79 38 13 39 2 0 1 1 028 -65 84 242 -23 121 -48 136 20 13

29=30+..+33 193 121 -147 145 201 -101 189 81 3330 4 3 4 4 4 -76 80 - -31 16 -8 -43 -8 44 0 45 -1 032 138 127 -35 -46 32 22 -42 53 033 35 -1 -73 194 121 -47 106 29 33


35=44(t)-44(t-1)-23 367 147 2,425 11 588 0 605 -17 036=50(t)-50(t-1)-29 27 81 0 -19 -3 0 0 -3 0

37=35-36 = 55(t)-55(t-1)-22 339 66 2,425 30 591 605 -14 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 8,901 9,493 10,219 : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 8,493 8,894 11,185 11,280 11,980 -1,188 11,542 596 1,02945 1,289 1,300 1,002 1,085 1,388 -898 1,156 232 89846 738 879 825 825 527 0 526 1 047 728 709 665 650 638 -68 703 3 048 4,863 5,046 7,492 7,524 8,099 0 7,821 278 0

48a 28 28 31 54 62 : : :49 876 960 1,201 1,196 1,328 -222 1,336 82 131

50=51+..+54 2,580 2,782 2,635 2,761 2,959 -1,188 3,064 959 12551 35 38 41 45 49 -898 947 - -52 279 271 228 221 264 0 99 166 053 1,613 1,802 1,767 1,722 1,751 -68 1,228 591 054 653 671 598 773 895 -222 790 202 125

55=44-50 5,912 6,112 8,550 8,519 9,021 8,478 -363 90556=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -32 138 14 -71 -91 -89 -58 56

58=64(t)-64(t-1) 178 185 -74 -48 77 -54 83 48 059 = 57+58 = 60+..+63 146 322 -59 -119 -14 -54 -6 -10 56

60=23 153 254 -134 83 112 -102 100 25 89

61=(-)33 -35 1 73 -194 -121 48 -106 -29 -33

62 21 63 1 1 -3 0 0 -3 0

63 7 4 1 -9 -1 0 0 -2 164=65+66+69 1,924 2,108 2,035 1,987 2,064 -966 2,273 756 0

65 35 38 41 45 49 -898 947 - -66=67+68 278 271 228 221 264 0 99 166 0

67 0 0 0 0 0 0 0 0 068 278 271 228 221 264 0 99 166 0

69=70+71 1,610 1,800 1,766 1,721 1,750 -68 1,228 591 070 10 7 6 5 8 0 2 6 071 1,600 1,793 1,760 1,716 1,742 -68 1,226 584 072 458 485 455 455 455 : : :73 0 0 0 0 0 : : :

74=45+46+48a 2,054 2,208 1,858 1,964 1,977 : : :

Table C - Memorandum items75 3,568 3,831 4,135 4,396 4,690 2,587 1,637 46676 542 602 651 672 714 559 151 5

77=20+18-76 420 552 418 226 449 208 183 5878 18,932 20,061 20,652 21,683 23,615

79 142 145 143 142 135

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2=3+4+5 Taxes 23.8 20.2 19.6 19.8 21.9 20.3 19.7 20.4 20.5 21.1 22.0 22.2 21.4 21.1 0.3 0.03 . Indirect taxes 13.0 12.4 12.6 12.1 14.5 13.7 13.4 13.8 13.3 13.7 14.2 14.6 14.2 13.9 0.3 0.04 . Direct taxes 10.8 7.7 6.9 7.7 7.4 6.6 6.3 6.6 7.2 7.4 7.8 7.5 7.2 7.2 0.0 0.05 . Capital taxes - - - - - - - - - - - - - - - -6 Social contributions 12.3 11.0 10.3 11.6 13.1 13.0 11.8 11.4 11.2 11.1 11.3 11.4 11.4 6.0 0.0 5.47 Sales (incl. own account capital formation) 3.8 2.8 2.8 2.7 3.1 3.1 2.9 2.9 3.0 3.1 3.0 3.0 3.0 2.0 0.9 0.08 Other current revenue 1.7 1.9 2.1 2.4 3.5 2.9 2.7 2.6 2.1 2.3 2.2 2.0 2.2 -9.6 3.5 7.7 0.79 Capital revenue 0.4 0.4 0.4 0.5 2.3 1.4 1.4 1.9 1.5 1.0 1.1 0.6 0.9 -0.2 0.6 0.4 0.0



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 1.1 -0.1 1.1 -2.7 -2.2 0.2 1.2 -0.3 -0.2 0.7 0.1 -0.3 -0.4 -0.4 -0.2 0.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.4 -0.3 0.2 0.1 -0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : 0.3 1.4 -2.8 -2.2 0.3 1.0 -0.2 -0.2 0.7 0.1 -0.3 -0.4 -0.4 -0.2 0.223=24+..+28 Net acquisition of financial assets : 0.5 2.3 -1.5 0.8 0.5 0.1 4.1 0.8 1.3 -0.6 0.4 0.5 -0.4 0.4 0.1 0.4

24 Currency and deposits : 0.2 1.3 0.3 2.8 -1.4 0.7 0.7 0.9 0.0 -1.4 0.4 1.3 -0.3 1.3 0.0 0.325 Debt securities : 0.4 0.8 -2.0 -1.0 0.1 -1.5 0.3 -0.9 0.7 -0.2 0.0 -1.3 0.0 -1.3 0.0 0.026 Loans : -0.2 -0.1 0.0 0.3 0.4 0.3 1.7 0.7 -0.1 -0.2 -0.1 -0.1 0.1 -0.1 0.0 0.027 Shares and other equity : 0.0 -0.1 0.0 -1.8 1.3 0.1 1.2 0.4 0.2 0.1 0.2 0.0 0.0 0.0 0.0 0.028 Other financial assets : 0.0 0.5 0.2 0.5 0.2 0.4 0.2 -0.3 0.4 1.2 -0.1 0.5 -0.2 0.6 0.1 0.1

29=30+..+33 Net incurrence of liabilities : 0.1 0.9 1.3 3.0 0.2 -1.0 4.3 1.0 0.6 -0.7 0.7 0.9 -0.4 0.8 0.3 0.130 Currency and deposits : - - - - 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 0.3 - -31 Debt securities : -0.2 0.0 0.3 0.5 0.0 0.1 0.0 0.1 0.0 -0.2 0.0 0.2 0.0 0.2 0.0 0.032 Loans : 0.1 0.0 0.6 1.3 -0.2 0.1 4.1 0.7 0.6 -0.2 -0.2 0.1 0.1 -0.2 0.2 0.033 Other liabilities : 0.2 0.8 0.4 1.2 0.4 -1.3 0.2 0.2 0.0 -0.4 0.9 0.5 -0.2 0.4 0.1 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : -7.2 3.0 0.4 0.6 7.2 1.4 0.5 1.9 0.7 11.7 0.1 2.5 0.0 2.6 -0.1 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -2.8 -0.2 0.0 -0.1 -0.5 0.0 0.0 0.1 0.4 0.0 -0.1 0.0 0.0 0.0 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -4.5 3.1 0.4 0.6 7.8 1.4 0.5 1.8 0.3 11.7 0.1 2.5 2.6 -0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 138.2 22.0 28.5 35.0 42.6 42.4 40.1 42.4 47.0 47.3 49.5 : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 36.9 40.2 33.7 40.7 46.9 42.9 44.5 44.9 44.3 54.2 52.0 50.7 -5.0 48.9 2.5 4.445 Currency and deposits : 4.4 5.0 4.0 7.5 5.8 5.9 6.2 6.8 6.5 4.9 5.0 5.9 -3.8 4.9 1.0 3.846 Debt securities : 0.5 8.0 7.5 7.8 7.5 5.2 5.1 3.9 4.4 4.0 3.8 2.2 0.0 2.2 0.0 0.047 Loans : 0.6 1.5 0.9 1.4 1.7 1.8 3.3 3.8 3.5 3.2 3.0 2.7 -0.3 3.0 0.0 0.048 Shares and other equity : 28.7 21.4 16.8 18.2 26.1 24.7 24.6 25.7 25.2 36.3 34.7 34.3 0.0 33.1 1.2 0.0


50=51+..+54 Liabilities : 6.8 8.2 8.4 12.8 11.9 9.6 13.2 13.6 13.9 12.8 12.7 12.5 -5.0 13.0 4.1 0.551 Currency and deposits : - - - - 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 -3.8 4.0 - -52 Debt securities : 0.9 1.2 1.0 1.7 1.6 1.5 1.4 1.5 1.4 1.1 1.0 1.1 0.0 0.4 0.7 0.053 Loans : 4.2 3.4 3.5 5.4 4.9 4.4 8.2 8.5 9.0 8.6 7.9 7.4 -0.3 5.2 2.5 0.054 Other liabilities : 1.7 3.6 3.9 5.7 5.4 3.5 3.4 3.5 3.3 2.9 3.6 3.8 -0.9 3.3 0.9 0.5

55=44-50 Financial net worth : 30.1 32.0 25.3 28.0 35.0 33.3 31.3 31.2 30.5 41.4 39.3 38.2 35.9 -1.5 3.856=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) 1.1 -0.1 1.1 -2.7 -2.2 0.2 1.2 -0.3 -0.2 0.7 0.1 -0.3 -0.4 -0.4 -0.2 0.2

58=64(t)-64(t-1) Change in Government Debt : : 0.2 0.9 1.8 -0.2 0.3 4.1 0.9 0.9 -0.4 -0.2 0.3 -0.2 0.3 0.2 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 1.3 -1.8 -0.4 0.0 1.4 3.8 0.8 1.6 -0.3 -0.5 -0.1 -0.2 0.0 0.0 0.2

60=23 Net acquisition of financial assets : : : : : : 0.1 4.1 0.8 1.3 -0.6 0.4 0.5 -0.4 0.4 0.1 0.4

61=(-)33 Incurrence in liabilities not in government debt : : : : : : 1.3 -0.2 -0.2 0.0 0.4 -0.9 -0.5 0.2 -0.4 -0.1 -0.1

62Valuation effects and other changes in volume in government debt : : : : : : 0.0 0.0 0.1 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0

63 Statistical discrepancies : : : : : : 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 5.1 4.5 4.5 7.0 6.6 6.1 9.7 10.2 10.5 9.9 9.2 8.7 -4.1 9.6 3.2 0.0

65 . Currency and deposits : - - - - 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 -3.8 4.0 - -66=67+68 . Debt securities : 0.9 1.2 1.0 1.7 1.6 1.5 1.4 1.5 1.3 1.1 1.0 1.1 0.0 0.4 0.7 0.0





77=20+18-76 Net savings and capital transfers 1.0 2.7 3.7 1.6 1.3 0.7 2.1 3.4 2.2 2.8 2.0 1.0 1.9 0.9 0.8 0.278 GDP



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Government revenue and expenditure1=2+6+7+8+9 15.6 13.4 10.7 10.9 24.7 21.3 2.4 1.3 -3.5 7.4 8.9 3.5 6.7 6.1 3.5 8.2

2=3+4+5 14.2 12.6 13.9 9.5 24.7 22.3 -2.8 -5.1 -3.6 10.0 11.0 6.4 8.9 7.3 5.8 5.33 12.8 8.4 16.7 14.4 26.7 20.1 -8.1 3.3 -1.7 11.0 10.0 2.4 8.9 6.6 8.3 5.54 16.6 19.7 9.6 1.6 21.0 26.5 6.7 -18.2 -7.1 7.9 13.1 14.7 8.9 8.7 1.3 5.056 15.2 8.3 8.7 14.5 17.8 24.5 12.6 -3.5 3.2 3.0 3.5 3.9 5.0 5.3 6.1 8.77 19.8 15.1 6.6 14.2 16.8 7.7 14.4 -3.1 2.4 8.2 7.6 7.9 8.9 1.3 3.6 8.08 17.9 40.6 0.3 2.8 46.1 16.8 0.6 24.1 -12.6 4.2 2.5 -11.9 13.0 1.1 -8.3 23.89 106.0 55.2 -5.4 13.7 168.9 14.7 -27.6 262.3 -35.0 14.3 39.3 -16.1 -26.5 13.7 -43.9 55.7

10=11+..+18 14.9 9.1 8.8 14.8 18.6 22.0 18.5 -0.8 -8.5 4.6 13.0 3.3 4.3 7.8 4.6 8.411 10.0 12.2 1.7 13.4 12.8 12.9 14.2 -9.3 4.4 8.1 7.8 5.6 6.3 4.2 5.9 6.412 12.4 11.4 10.9 12.3 12.5 22.9 19.9 -3.0 -3.8 3.7 3.7 9.1 7.7 8.1 6.2 7.313 31.8 -1.0 6.0 0.5 5.1 19.6 26.8 -21.4 -27.6 10.8 20.9 -17.7 -3.7 -9.2 -41.7 -15.614 6.0 -1.3 1.9 6.4 40.7 20.8 14.0 -15.3 17.1 4.6 0.6 -24.1 -27.1 1.5 23.5 -2.015 8.4 10.1 16.4 11.8 15.8 18.8 24.5 12.2 -3.6 0.5 4.0 4.9 5.5 10.2 7.6 7.1

15a 9.2 11.6 15.9 12.1 16.2 17.7 25.1 13.4 -3.7 -0.3 3.0 4.8 5.4 10.4 7.3 7.116 23.6 41.2 89.8 35.3 38.4 3.2 1.3 12.5 -7.1 8.4 8.3 14.2 -5.6 16.1 7.2 -10.517 51.7 35.5 23.0 17.6 6.2 62.5 74.0 23.1 -25.3 0.9 -1.2 15.8 -10.2 9.7 -11.4 -0.718 40.5 -3.1 -13.2 26.9 38.6 41.7 10.8 -16.5 -44.0 17.4 93.0 -12.2 2.4 3.8 -8.1 29.419 41.0 -0.9 -5.6 21.8 39.7 34.2 4.9 -13.9 -19.2 15.0 38.4 -6.9 -4.1 7.1 -9.4 30.4

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 8.1 11.7 9.5 6.6 12.0 9.9 -4.3 1.9 1.4 0.1 10.2 1.9 3.0 -1.5 0.7 1.0

24 32.1 -10.9 34.9 36.5 16.6 -4.5 7.0 59.5 -19.5 14.3 13.2 16.2 0.7 -22.9 8.2 28.025 90.9 61.1 7.5 11.1 41.0 20.5 -21.4 -11.7 1.2 -22.5 5.9 -18.7 19.1 -5.4 0.0 -36.726 -18.9 440.6 -17.8 -7.8 -0.5 -5.9 -4.2 24.5 29.7 19.3 100.0 21.8 -2.6 -6.3 -2.2 -1.927 -5.7 0.3 0.2 -0.5 0.1 6.3 0.1 -9.2 7.2 0.4 5.3 1.8 0.8 0.3 0.5 0.028 5.9 1.7 69.3 10.9 16.9 23.9 5.8 9.9 3.8 8.4 3.9 -6.9 9.6 25.3 -1.9 10.1

29=30+..+33 27.5 23.7 15.1 12.0 18.1 6.9 18.6 30.6 1.9 -9.3 48.5 8.2 4.7 -5.3 5.5 7.330 23.1 13.3 8.0 9.5 8.9 8.931 211.0 -8.2 13.6 1.2 41.1 -35.3 39.8 38.3 0.5 5.4 -2.6 6.5 -2.8 -15.9 -3.3 19.832 8.7 18.8 -5.0 1.5 7.6 16.0 20.5 32.3 -4.3 1.3 100.0 9.3 7.9 -1.9 -2.6 1.933 7.8 66.3 48.3 27.4 20.3 15.8 12.6 27.0 8.0 -26.6 6.5 5.7 -0.2 -10.8 32.5 15.7


35=44(t)-44(t-1)-23 4.9 5.6 9.7 8.5 3.7 0.0 1.1 1.4 18.5 3.4 1.3 4.6 1.7 27.3 0.1 5.236=50(t)-50(t-1)-29 -0.6 0.2 -0.5 -2.3 0.0 1.7 -0.7 -0.7 -4.4 -0.2 -0.2 1.1 3.1 0.0 -0.7 -0.1

37=35-36 = 55(t)-55(t-1)-22 6.2 7.1 12.6 11.4 4.6 -0.4 1.5 2.1 28.9 4.6 1.7 6.0 1.1 39.7 0.4 6.9

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 18.0 16.5 17.0 15.8 25.6 27.5 12.4 4.2 3.5 7.2 13.8 17.1 6.7 7.7 : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 13.0 17.3 19.2 15.1 15.7 10.0 -3.2 3.4 19.9 3.5 11.5 6.5 4.7 25.8 0.8 6.245 32.3 -5.3 34.9 41.1 16.6 -4.5 7.0 59.5 -19.5 14.4 13.2 16.4 0.9 -22.9 8.2 28.046 91.0 60.7 8.2 11.9 41.7 20.6 -19.5 -10.4 0.2 -22.3 5.9 -19.1 19.2 -6.1 0.0 -36.247 -18.4 510.0 96.6 -9.8 -0.6 -5.9 -4.1 24.4 29.7 19.3 100.0 21.8 -2.6 -6.3 -2.3 -1.948 0.1 7.1 7.7 16.6 6.7 6.3 1.2 -6.9 49.0 7.0 7.5 10.0 3.8 48.5 0.4 7.6

48a 438.5 135.0 -36.5 50.2 24.8 30.6 -27.9 -73.7 -17.5 45.0 82.8 32.5 1.1 8.1 75.9 13.949 15.2 6.0 94.0 2.2 17.2 24.0 6.2 9.9 3.5 6.3 4.0 -6.6 9.6 25.1 -0.4 11.0

50=51+..+54 26.8 23.9 14.6 9.7 18.1 8.6 18.0 29.9 -2.6 -9.5 48.3 9.3 7.8 -5.3 4.8 7.251 23.1 13.3 8.0 9.5 8.9 8.952 211.0 -7.7 13.6 -4.8 41.1 -35.3 39.8 38.3 0.5 5.4 -2.7 13.0 -2.8 -15.8 -3.3 19.853 7.9 18.8 -5.3 7.6 7.6 16.0 20.5 32.3 -4.3 1.3 100.0 9.6 11.7 -1.9 -2.6 1.754 7.3 66.5 47.5 18.0 20.3 19.6 11.2 25.5 -1.9 -27.0 5.9 6.8 2.7 -10.9 29.3 15.7

55=44-50 9.8 15.5 20.5 16.5 15.1 10.3 -8.7 -5.4 30.1 8.0 1.0 5.3 3.4 39.9 -0.4 5.956=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 9.8 35.4 47.4 25.7 76.7 74.1 -74.0 -41.7 2.8 20.0 -4.6 -1.8 7.2 0.7 -3.5 -4.6

58=64(t)-64(t-1) 32.8 10.6 0.3 4.3 16.2 -0.1 24.5 34.3 -3.1 4.8 72.6 10.2 9.6 -3.5 -2.4 3.959 = 57+58 = 60+..+63 42.7 46.0 47.7 30.0 93.0 74.1 -49.5 -7.3 -0.4 24.9 68.1 8.4 16.8 -2.8 -5.9 -0.7

60=23 : : : : : : : : : 1.1 72.6 8.7 13.2 -6.3 4.1 5.6

61=(-)33 : : : : : : : : : 21.9 -3.7 -2.0 0.1 3.5 -9.5 -6.1

62 : : : : : : : : : -0.1 0.0 1.2 3.3 0.0 0.1 -0.2

63 : : : : : : : : : 2.0 -0.8 0.4 0.2 0.0 -0.4 -0.164=65+66+69 32.8 10.6 0.3 4.3 16.2 -0.1 24.5 34.3 -3.1 4.8 72.6 10.2 9.6 -3.5 -2.4 3.9

65 23.1 13.3 8.0 9.5 8.9 8.966=67+68 194.7 -9.2 21.4 -4.9 40.9 -35.8 39.9 39.7 0.5 5.3 -2.5 13.0 -2.8 -15.8 -3.2 19.8

67 -98.1 500.0 -100.0 -100.068 236.0 -9.6 22.0 -4.9 40.9 -35.8 39.9 37.2 2.3 5.3 -2.5 13.0 -2.8 -15.8 -3.2 19.8

69=70+71 8.4 18.7 -6.3 8.0 7.4 16.7 20.5 32.7 -4.3 1.2 100.2 9.7 11.8 -1.9 -2.5 1.770 315.8 15.2 -81.3 191.2 -34.3 115.4 -27.1 12.7 -47.0 21.3 41.9 -3.8 -28.7 -16.7 -16.7 64.071 4.3 18.9 -2.4 6.2 8.5 15.1 22.0 33.1 -3.6 1.1 100.8 9.8 12.0 -1.8 -2.5 1.572 : : : : : : : : 2496.9 29.2 5.8 -6.2 0.0 0.073 : : : : : : : :

74=45+46+48a 64.1 36.0 14.1 22.1 31.9 12.5 -12.2 12.4 -9.5 -6.2 10.3 0.7 7.5 -15.8 5.7 0.6

Table C - Memorandum items75 9.4 10.4 9.1 12.4 12.9 22.0 18.5 -3.2 -0.7 4.7 6.4 8.1 7.4 7.9 6.3 6.776 10.7 12.1 18.1 14.1 21.7 23.9 18.2 8.4 5.6 3.4 12.0 12.2 11.2 8.2 3.2 6.3

77=20+18-7678 11.4 12.0 11.5 16.0 20.1 20.2 1.7 -14.4 4.0 13.3 7.6 5.6 6.0 2.9 5.0 8.9

79 -3.6 3.0 -2.2 -0.8 6.1 -5.0 -0.8 3.0 -1.5 -0.7 3.8 2.9 2.1 -1.4 -0.7 -4.9



Ireland




2=3+4+5 Taxes 14,933 29,176 44,394 45,889 38,730 37,890 38,872 40,9493 . Indirect taxes 7,643 14,040 22,335 22,557 18,369 18,076 17,794 18,3724 . Direct taxes 7,214 14,911 21,786 22,964 20,095 19,569 20,836 22,2925 . Capital taxes 76 225 274 368 266 245 242 2856 Social contributions 3,304 5,307 8,730 10,984 10,243 9,485 10,368 9,8747 Sales (incl . own account capital formation) 1,259 1,850 3,424 4,222 4,576 5,284 5,163 5,0578 Other current revenue 804 1,159 1,206 2,338 2,144 2,395 2,733 3,3189 Capital revenue 911 1,248 1,697 1,952 797 322 610 299

10=11+..+18 Total expenditure 22,369 33,464 56,746 78,505 79,957 109,088 79,622 73,61211 Intermediate consumption 3,120 5,492 7,896 10,036 9,982 9,167 8,800 8,34212 Compensation of employees 5,831 8,917 16,566 21,206 20,713 19,293 19,389 18,99613 Interest 2,814 2,107 1,742 2,403 3,416 4,748 5,768 7,29814 Subsidies 548 1,107 1,726 1,922 1,890 1,828 1,725 1,94915 Social benefits 6,564 9,531 18,351 26,281 28,848 28,774 28,827 29,454

15a of which other than transfers in kind 5,834 7,936 15,050 21,742 24,232 23,818 23,868 24,23516 Other current expenditure 1,396 1,474 3,063 3,511 2,725 2,665 2,615 2,50917 Capital transfers payable 809 1,036 1,381 2,997 5,976 37,001 8,149 1,41518 Capital investments 1,286 3,800 6,021 10,150 6,407 5,612 4,350 3,65119 of which, gross fixed capital formation 1,286 3,800 6,024 9,877 6,408 5,692 4,239 3,568

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -1,159 5,275 2,706 -13,119 -23,467 -53,712 -21,877 -14,114


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -2,037 -437 1,070 29 -335 -413 255

22=23-29 Net financial transactions : 7,312 3,143 -14,189 -23,496 -53,377 -21,464 -14,36923=24+..+28 Net acquisition of financial assets : 2,175 3,746 19,241 2,903 -11,649 3,868 5,832

24 Currency and deposits : 2,154 1,053 18,192 1,041 -11,318 -1,029 5,82425 Debt securities : -9 229 -68 4,124 1,858 -586 95626 Loans : -765 124 165 83 468 1,277 -2,52627 Shares and other equity : -248 914 1,402 -2,357 -2,388 3,706 1,83228 Other financial assets : 1,043 1,426 -450 12 -269 500 -254

29=30+..+33 Net incurrence of liabilities : -5,137 603 33,430 26,399 41,728 25,332 20,20130 Currency and deposits : -184 244 1,169 1,395 3,422 2,893 3,80231 Debt securities : -3,884 -93 30,198 24,830 5,941 -8,973 -6,97932 Loans : -1,488 109 1,790 -39 31,262 31,058 23,28833 Other liabilities : 419 343 273 213 1,103 354 90


35=44(t)-44(t-1)-23 Other changes in financial assets : 939 3,017 -7,817 2,837 689 22,126 -1,21936=50(t)-50(t-1)-29 Other changes in liabilities : 386 3,486 1,589 -774 -16,553 28,307 15,535

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 553 -469 -9,406 3,611 17,242 -6,181 -16,754

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 26,148 42,964 65,989 71,729 60,769 86,763 91,37645 Currency and deposits : 10,112 9,579 29,643 30,690 19,631 18,868 24,85246 Debt securities : 18 2,143 4,609 8,700 10,114 7,919 9,47047 Loans : 1,500 1,713 1,712 1,757 2,240 26,514 22,40348 Shares and other equity : 9,693 21,391 21,156 21,661 20,204 22,861 25,014

48a of which, Investment fund shares : 0 371 2,016 1,923 2,998 1,623 1,64649 Other financial assets : 4,825 8,138 8,869 8,921 8,580 10,601 9,637

50=51+..+54 Liabilities : 42,038 53,340 89,281 114,906 140,081 193,720 229,45651 Currency and deposits : 8,059 8,319 8,845 10,308 13,711 58,388 62,09952 Debt securities : 27,941 37,356 70,586 94,787 84,081 85,192 94,16153 Loans : 3,340 1,970 3,363 3,239 34,592 39,014 62,15254 Other liabilities : 2,698 5,695 6,487 6,572 7,697 11,126 11,044

55=44-50 Financial net worth : -15,890 -10,376 -23,292 -43,177 -79,312 -106,957 -138,08056=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -1,159 5,275 2,706 -13,119 -23,467 -53,712 -21,877 -14,114

58=64(t)-64(t-1) Change in Government Debt : : 323 32,473 25,065 39,544 45,499 20,29459 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 3,029 19,354 1,598 -14,168 23,622 6,179







69=70+71 . Loans : 3,340 1,974 2,793 2,842 34,138 37,308 60,59770 .. short term : 110 230 437 691 731 558 1,88471 .. long term : 3,230 1,744 2,356 2,151 33,407 36,750 58,71372 Intergovernmental lending (asset)* : : : : 0 347 347 34773 Intergovernmental lending (borrowing)* : : : : 0 0 8,662 15,701



77=20+18-76 Net savings and capital transfers -879 7,230 5,719 -6,344 -20,298 -51,213 -20,573 -13,56978 GDP 54,824 108,380 170,187 187,769 170,101 167,721 171,140 175,216




Ireland



Government revenue and expenditure1=2+6+7+8+9 61,502 66,012 70,901 73,655 76,540 -2,960 72,823 6,677

2=3+4+5 42,517 46,460 50,844 53,097 55,927 54,629 1,2983 19,310 21,213 22,581 23,625 24,680 23,382 1,2984 22,929 24,889 27,863 29,061 30,799 30,799 05 278 359 401 411 448 448 06 10,410 10,983 11,388 12,042 12,641 12,420 2227 4,868 4,826 5,350 5,446 5,525 3,746 1,7798 3,422 3,337 3,009 2,070 2,019 -2,062 2,018 2,0639 286 406 310 999 428 -898 10 1,316

10=11+..+18 72,529 73,057 75,915 75,121 77,269 -2,960 73,762 6,46711 8,196 8,937 9,243 9,525 9,865 8,012 1,85312 18,594 18,366 18,952 19,442 20,681 18,999 1,68213 7,760 7,589 6,849 6,165 5,806 -75 5,799 8214 1,909 1,867 1,792 1,777 1,823 1,823 015 28,526 28,076 28,423 28,437 29,006 27,602 1,403

15a 23,540 22,974 23,011 22,741 22,946 22,644 30216 2,915 2,759 2,528 3,005 3,172 -1,986 5,135 2317 933 1,132 3,348 1,438 1,603 -898 2,365 13618 3,696 4,331 4,780 5,333 5,315 4,027 1,28819 3,613 4,271 4,720 5,273 5,360 4,072 1,288

Government deficit

20=1-10 -11,027 -7,045 -5,014 -1,466 -730 -939 209


21=20-22 -167 70 -982 -835 -853 -851 3

22=23-29 -10,860 -7,115 -4,032 -631 123 -88 20623=24+..+28 -5,405 -18,759 -7,351 -3,993 -1,387 -235 -1,143 -9

24 -1,220 -6,372 -322 -3,008 2,474 1 2,613 -14025 -605 -1,429 -5,661 -1,150 185 -219 185 21926 -2,265 -11,808 -1,080 -366 -446 -18 -146 -28227 -1,307 -89 242 -379 -4,487 2 -4,489 028 -8 939 -530 910 887 -1 694 194

29=30+..+33 5,455 -11,644 -3,319 -3,362 -1,510 -240 -1,055 -21530 -30,707 -10,475 -248 609 281 0 281 031 26,281 6,270 6,650 -3,543 4,540 -218 4,758 032 10,030 -8,210 -9,987 -80 -6,434 -21 -6,225 -18833 -149 771 266 -348 103 -1 131 -27

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 : : : : : : :

35=44(t)-44(t-1)-23 7,325 8,151 7,558 453 2,088 -1 2,087 236=50(t)-50(t-1)-29 3,032 10,849 -432 828 -1,686 3 -1,683 -6

37=35-36 = 55(t)-55(t-1)-22 4,293 -2,698 7,990 -375 3,774 3,770 8

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : :

Government balance sheet 39=40+44 : : : : : : : :

40=41+42+43 : : : : : : :41 : : : : : : :42 : : : : : : :43 : : : : : : :

44=45+..+49 93,296 82,688 82,895 79,355 80,056 -5,300 81,396 3,96045 23,695 17,394 17,294 14,286 16,745 0 16,306 43946 10,249 9,646 3,289 2,162 2,273 -1,514 2,273 1,51447 18,856 7,876 7,274 7,104 6,680 -3,693 9,572 80148 30,749 37,877 44,897 45,561 42,616 1 42,609 6

48a 2,243 2,254 3,536 4,652 4,778 : :49 9,747 9,895 10,141 10,242 11,742 -94 10,636 1,200

50=51+..+54 237,943 237,148 233,397 230,863 227,667 -5,302 227,536 5,43351 31,356 20,918 20,713 21,315 21,597 0 21,597 052 126,146 141,988 146,321 143,327 147,114 -1,514 148,628 053 71,398 64,902 56,146 56,445 49,546 -3,693 48,972 4,26754 9,043 9,340 10,217 9,776 9,410 -95 8,339 1,166

55=44-50 -144,647 -154,460 -150,502 -151,508 -147,611 -146,140 -1,47356=39-50=40+55 : : : : : : :

Table B - Government debt and link with the deficit57=20 -11,027 -7,046 -5,014 -1,466 -729 -938 209

58=64(t)-64(t-1) 5,316 -11,982 -1,731 -946 612 -239 1,044 -19259 = 57+58 = 60+..+63 -5,711 -19,028 -6,746 -2,412 -116 -239 106 17

60=23 : -18,761 -7,352 -3,993 -1,389 -239 -1,144 -6

61=(-)33 : -771 -266 347 -104 0 -131 27

62 : 434 1,856 2,066 2,225 0 2,230 -5

63 : 70 -984 -834 -848 0 -848 164=65+66+69 215,338 203,355 201,624 200,678 201,290 -5,208 202,230 4,267

65 31,356 20,918 20,713 21,315 21,597 0 21,597 066=67+68 112,665 119,078 125,766 124,151 130,681 -1,514 132,195 0

67 2,389 3,760 1,380 2,395 2,929 -1,514 4,444 068 110,276 115,318 124,387 121,756 127,751 0 127,751 0

69=70+71 71,317 63,360 55,145 55,212 49,012 -3,693 48,438 4,26770 1,442 1,294 1,032 669 491 0 461 3071 69,875 62,066 54,113 54,542 48,521 -3,693 47,978 4,23772 347 347 347 347 347 : :73 23,267 23,541 23,943 23,316 22,183 : :

74=45+46+48a 36,187 29,294 24,119 21,100 23,796 : :

Table C - Memorandum items75 30,447 31,301 32,238 33,476 35,647 30,263 5,38476 3,166 3,317 3,515 3,722 3,947 2,040 1,907

77=20+18-76 -10,496 -6,031 -3,748 144 639 1,049 -40978 179,922 195,293 262,466 273,238 294,110

79 288 290 298 307 317

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Ireland



Government revenue and expenditure1=2+6+7+8+9 Total revenue 38.7 35.7 34.9 34.8 33.2 33.0 33.7 34.0 34.2 33.8 27.0 27.0 26.0 -1.0 24.8 2.3

2=3+4+5 Taxes 27.2 26.9 26.1 24.4 22.8 22.6 22.7 23.4 23.6 23.8 19.4 19.4 19.0 18.6 0.43 . Indirect taxes 13.9 13.0 13.1 12.0 10.8 10.8 10.4 10.5 10.7 10.9 8.6 8.6 8.4 8.0 0.44 . Direct taxes 13.2 13.8 12.8 12.2 11.8 11.7 12.2 12.7 12.7 12.7 10.6 10.6 10.5 10.5 0.05 . Capital taxes 0.1 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.06 Social contributions 6.0 4.9 5.1 5.8 6.0 5.7 6.1 5.6 5.8 5.6 4.3 4.4 4.3 4.2 0.17 Sales (incl. own account capital formation) 2.3 1.7 2.0 2.2 2.7 3.2 3.0 2.9 2.7 2.5 2.0 2.0 1.9 1.3 0.68 Other current revenue 1.5 1.1 0.7 1.2 1.3 1.4 1.6 1.9 1.9 1.7 1.1 0.8 0.7 -0.7 0.7 0.79 Capital revenue 1.7 1.2 1.0 1.0 0.5 0.2 0.4 0.2 0.2 0.2 0.1 0.4 0.1 -0.3 0.0 0.4

10=11+..+18 Total expenditure 40.8 30.9 33.3 41.8 47.0 65.0 46.5 42.0 40.3 37.4 28.9 27.5 26.3 -1.0 25.1 2.211 Intermediate consumption 5.7 5.1 4.6 5.3 5.9 5.5 5.1 4.8 4.6 4.6 3.5 3.5 3.4 2.7 0.612 Compensation of employees 10.6 8.2 9.7 11.3 12.2 11.5 11.3 10.8 10.3 9.4 7.2 7.1 7.0 6.5 0.613 Interest 5.1 1.9 1.0 1.3 2.0 2.8 3.4 4.2 4.3 3.9 2.6 2.3 2.0 0.0 2.0 0.014 Subsidies 1.0 1.0 1.0 1.0 1.1 1.1 1.0 1.1 1.1 1.0 0.7 0.7 0.6 0.6 0.015 Social benefits 12.0 8.8 10.8 14.0 17.0 17.2 16.8 16.8 15.9 14.4 10.8 10.4 9.9 9.4 0.5

15a of which other than transfers in kind 10.6 7.3 8.8 11.6 14.2 14.2 13.9 13.8 13.1 11.8 8.8 8.3 7.8 7.7 0.116 Other current expenditure 2.5 1.4 1.8 1.9 1.6 1.6 1.5 1.4 1.6 1.4 1.0 1.1 1.1 -0.7 1.7 0.017 Capital transfers payable 1.5 1.0 0.8 1.6 3.5 22.1 4.8 0.8 0.5 0.6 1.3 0.5 0.5 -0.3 0.8 0.018 Capital investments 2.3 3.5 3.5 5.4 3.8 3.3 2.5 2.1 2.1 2.2 1.8 2.0 1.8 1.4 0.419 of which, gross fixed capital formation 2.3 3.5 3.5 5.3 3.8 3.4 2.5 2.0 2.0 2.2 1.8 1.9 1.8 1.4 0.4

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -2.1 4.9 1.6 -7.0 -13.8 -32.0 -12.8 -8.1 -6.1 -3.6 -1.9 -0.5 -0.2 -0.3 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -1.9 -0.3 0.6 0.0 -0.2 -0.2 0.1 -0.1 0.0 -0.4 -0.3 -0.3 -0.3 0.0

22=23-29 Net financial transactions : 6.7 1.8 -7.6 -13.8 -31.8 -12.5 -8.2 -6.0 -3.6 -1.5 -0.2 0.0 0.0 0.123=24+..+28 Net acquisition of financial assets : 2.0 2.2 10.2 1.7 -6.9 2.3 3.3 -3.0 -9.6 -2.8 -1.5 -0.5 -0.1 -0.4 0.0

24 Currency and deposits : 2.0 0.6 9.7 0.6 -6.7 -0.6 3.3 -0.7 -3.3 -0.1 -1.1 0.8 0.0 0.9 0.025 Debt securities : 0.0 0.1 0.0 2.4 1.1 -0.3 0.5 -0.3 -0.7 -2.2 -0.4 0.1 -0.1 0.1 0.126 Loans : -0.7 0.1 0.1 0.0 0.3 0.7 -1.4 -1.3 -6.0 -0.4 -0.1 -0.2 0.0 0.0 -0.127 Shares and other equity : -0.2 0.5 0.7 -1.4 -1.4 2.2 1.0 -0.7 0.0 0.1 -0.1 -1.5 0.0 -1.5 0.028 Other financial assets : 1.0 0.8 -0.2 0.0 -0.2 0.3 -0.1 0.0 0.5 -0.2 0.3 0.3 0.0 0.2 0.1

29=30+..+33 Net incurrence of liabilities : -4.7 0.4 17.8 15.5 24.9 14.8 11.5 3.0 -6.0 -1.3 -1.2 -0.5 -0.1 -0.4 -0.130 Currency and deposits : -0.2 0.1 0.6 0.8 2.0 1.7 2.2 -17.1 -5.4 -0.1 0.2 0.1 0.0 0.1 0.031 Debt securities : -3.6 -0.1 16.1 14.6 3.5 -5.2 -4.0 14.6 3.2 2.5 -1.3 1.5 -0.1 1.6 0.032 Loans : -1.4 0.1 1.0 0.0 18.6 18.1 13.3 5.6 -4.2 -3.8 0.0 -2.2 0.0 -2.1 -0.133 Other liabilities : 0.4 0.2 0.1 0.1 0.7 0.2 0.1 -0.1 0.4 0.1 -0.1 0.0 0.0 0.0 0.0

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : : : : : : : : : : : : : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : 0.9 1.8 -4.2 1.7 0.4 12.9 -0.7 4.1 4.2 2.9 0.2 0.7 0.0 0.7 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.4 2.0 0.8 -0.5 -9.9 16.5 8.9 1.7 5.6 -0.2 0.3 -0.6 0.0 -0.6 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.5 -0.3 -5.0 2.1 10.3 -3.6 -9.6 2.4 -1.4 3.0 -0.1 1.3 1.3 0.0

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : :

Government balance sheet 39=40+44 Total assets : : : : : : : : : : : : : : : :

40=41+42+43 Non-financial assets : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : : : : : : : : :42 Other produced assets : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 24.1 25.2 35.1 42.2 36.2 50.7 52.2 51.9 42.3 31.6 29.0 27.2 -1.8 27.7 1.345 Currency and deposits : 9.3 5.6 15.8 18.0 11.7 11.0 14.2 13.2 8.9 6.6 5.2 5.7 0.0 5.5 0.146 Debt securities : 0.0 1.3 2.5 5.1 6.0 4.6 5.4 5.7 4.9 1.3 0.8 0.8 -0.5 0.8 0.547 Loans : 1.4 1.0 0.9 1.0 1.3 15.5 12.8 10.5 4.0 2.8 2.6 2.3 -1.3 3.3 0.348 Shares and other equity : 8.9 12.6 11.3 12.7 12.0 13.4 14.3 17.1 19.4 17.1 16.7 14.5 0.0 14.5 0.0

48a of which, Investment fund shares : 0.0 0.2 1.1 1.1 1.8 0.9 0.9 1.2 1.2 1.3 1.7 1.6 : :49 Other financial assets : 4.5 4.8 4.7 5.2 5.1 6.2 5.5 5.4 5.1 3.9 3.7 4.0 0.0 3.6 0.4

50=51+..+54 Liabilities : 38.8 31.3 47.5 67.6 83.5 113.2 131.0 132.2 121.4 88.9 84.5 77.4 -1.8 77.4 1.851 Currency and deposits : 7.4 4.9 4.7 6.1 8.2 34.1 35.4 17.4 10.7 7.9 7.8 7.3 0.0 7.3 0.052 Debt securities : 25.8 21.9 37.6 55.7 50.1 49.8 53.7 70.1 72.7 55.7 52.5 50.0 -0.5 50.5 0.053 Loans : 3.1 1.2 1.8 1.9 20.6 22.8 35.5 39.7 33.2 21.4 20.7 16.8 -1.3 16.7 1.554 Other liabilities : 2.5 3.3 3.5 3.9 4.6 6.5 6.3 5.0 4.8 3.9 3.6 3.2 0.0 2.8 0.4

55=44-50 Financial net worth : -14.7 -6.1 -12.4 -25.4 -47.3 -62.5 -78.8 -80.4 -79.1 -57.3 -55.4 -50.2 -49.7 -0.556=39-50=40+55 Net worth : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -2.1 4.9 1.6 -7.0 -13.8 -32.0 -12.8 -8.1 -6.1 -3.6 -1.9 -0.5 -0.2 -0.3 0.1

58=64(t)-64(t-1) Change in Government Debt : : 0.2 17.3 14.7 23.6 26.6 11.6 3.0 -6.1 -0.7 -0.3 0.2 -0.1 0.4 -0.159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 1.8 10.3 0.9 -8.4 13.8 3.5 -3.2 -9.7 -2.6 -0.9 0.0 -0.1 0.0 0.0

60=23 Net acquisition of financial assets : : : : : : : : : -9.6 -2.8 -1.5 -0.5 -0.1 -0.4 0.0

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.4 -0.1 0.1 0.0 0.0 0.0 0.0

62Valuation effects and other changes in volume in government debt : : : : : : : : : 0.2 0.7 0.8 0.8 0.0 0.8 0.0

63 Statistical discrepancies : : : : : : : : : 0.0 -0.4 -0.3 -0.3 0.0 -0.3 0.064=65+66+69 Government debt (nominal / face value) : 36.1 26.1 42.4 61.5 86.0 110.9 119.9 119.7 104.1 76.8 73.4 68.4 -1.8 68.8 1.5

65 . Currency and deposits : 7.4 4.9 4.7 6.1 8.2 34.1 35.4 17.4 10.7 7.9 7.8 7.3 0.0 7.3 0.066=67+68 . Debt securities : 25.6 20.0 36.2 53.8 57.5 54.9 49.8 62.6 61.0 47.9 45.4 44.4 -0.5 44.9 0.0

67 .. short term : 1.9 0.9 13.6 12.0 4.3 2.2 1.5 1.3 1.9 0.5 0.9 1.0 -0.5 1.5 0.068 .. long term : 23.7 19.1 22.6 41.8 53.2 52.7 48.4 61.3 59.0 47.4 44.6 43.4 0.0 43.4 0.0

69=70+71 . Loans : 3.1 1.2 1.5 1.7 20.4 21.8 34.6 39.6 32.4 21.0 20.2 16.7 -1.3 16.5 1.570 .. short term : 0.1 0.1 0.2 0.4 0.4 0.3 1.1 0.8 0.7 0.4 0.2 0.2 0.0 0.2 0.071 .. long term : 3.0 1.0 1.3 1.3 19.9 21.5 33.5 38.8 31.8 20.6 20.0 16.5 -1.3 16.3 1.472 Intergovernmental lending (asset)* : : : : 0.0 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 5.1 9.0 12.9 12.1 9.1 8.5 7.5 : :

74=45+46+48a Government liquid assets : 9.3 7.1 19.3 24.3 19.5 16.6 20.5 20.1 15.0 9.2 7.7 8.1 : :

Table C - Memorandum items75 Government final consumption expenditure 17.2 14.7 16.0 18.8 20.1 18.8 18.3 17.7 16.9 16.0 12.3 12.3 12.1 10.3 1.876 Consumption of fixed capital 1.8 1.7 1.8 1.8 1.9 1.9 1.8 1.8 1.8 1.7 1.3 1.4 1.3 0.7 0.6

77=20+18-76 Net savings and capital transfers -1.6 6.7 3.4 -3.4 -11.9 -30.5 -12.0 -7.7 -5.8 -3.1 -1.4 0.1 0.2 0.4 -0.178 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Ireland



Government revenue and expenditure1=2+6+7+8+9 8.9 9.2 10.9 10.4 14.0 5.3 -8.4 -13.6 -2.0 4.3 3.0 3.4 7.3 7.4 3.9 3.9

2=3+4+5 8.3 10.0 11.2 10.8 14.2 3.3 -12.4 -15.6 -2.2 2.6 5.3 3.8 9.3 9.4 4.4 5.33 10.8 9.2 11.5 13.4 12.3 3.1 -12.8 -18.6 -1.6 -1.6 3.2 5.1 9.9 6.4 4.6 4.54 6.2 10.5 11.2 8.0 15.9 3.3 -12.0 -12.5 -2.6 6.5 7.0 2.9 8.5 11.9 4.3 6.05 -10.4 40.9 -6.2 36.5 29.6 21.8 -14.9 -27.7 -7.8 -1.2 17.6 -2.2 28.8 11.8 2.4 9.26 10.8 7.7 10.9 8.8 9.5 11.9 2.7 -6.7 -7.4 9.3 -4.8 5.4 5.5 3.7 5.7 5.07 19.0 15.7 11.6 12.5 13.1 2.5 6.4 8.4 15.5 -2.3 -2.0 -3.7 -0.9 10.9 1.8 1.48 -11.3 -15.5 9.8 12.8 23.1 23.9 27.1 -8.3 11.7 14.1 21.4 3.1 -2.5 -9.8 -31.2 -2.59 18.5 7.7 2.3 4.1 28.7 14.7 -22.1 -59.2 -59.6 89.5 -50.9 -4.5 42.2 -23.8 222.6 -57.2

10=11+..+18 13.9 6.4 7.8 9.6 10.3 13.1 10.9 1.8 36.4 -27.0 -7.5 -1.5 0.7 3.9 -1.0 2.911 13.8 5.7 6.6 -3.0 11.2 10.8 3.1 -0.5 -8.2 -4.0 -5.2 -1.8 9.0 3.4 3.0 3.612 14.7 11.4 8.7 14.3 9.6 9.6 6.5 -2.3 -6.9 0.5 -2.0 -2.1 -1.2 3.2 2.6 6.413 2.1 -1.1 -3.4 1.6 6.2 7.3 21.1 42.2 39.0 21.5 26.5 6.3 -2.2 -9.8 -10.0 -5.814 -2.6 6.7 3.4 12.1 -2.8 7.2 6.9 -1.7 -3.2 -5.7 13.0 -2.0 -2.2 -4.0 -0.9 2.615 18.2 8.0 10.6 13.5 11.6 13.3 13.3 9.8 -0.3 0.2 2.2 -3.2 -1.6 1.2 0.0 2.0

15a 17.1 7.3 10.3 13.4 11.6 13.6 13.9 11.5 -1.7 0.2 1.5 -2.9 -2.4 0.2 -1.2 0.916 26.5 14.3 7.4 7.9 9.7 -6.3 11.5 -22.4 -2.2 -1.9 -4.1 16.2 -5.3 -8.4 18.9 5.517 -4.6 1.5 19.9 0.0 -10.4 49.8 61.7 99.4 519.2 -78.0 -82.6 -34.0 21.4 195.7 -57.1 11.518 11.4 -6.8 2.7 9.3 17.4 30.2 10.2 -36.9 -12.4 -22.5 -16.1 1.2 17.2 10.4 11.6 -0.319 11.4 -6.8 2.9 9.4 16.7 31.0 7.3 -35.1 -11.2 -25.5 -15.8 1.3 18.2 10.5 11.7 1.7

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 4.4 7.4 9.5 10.3 9.5 7.8 35.3 4.4 -16.2 6.4 6.7 -5.9 -20.1 -8.9 -4.8 -1.7

24 -46.8 0.7 8.4 11.8 4.2 12.2 156.3 3.5 -36.9 -5.2 30.9 -4.9 -26.9 -1.9 -17.4 17.325 10058.3 4.7 16.1 13.5 93.9 29.5 -1.5 89.5 21.4 -5.8 12.1 -6.4 -13.9 -58.7 -35.0 8.626 23.8 11.5 4.5 7.5 -6.7 -4.4 10.7 4.8 26.6 57.0 -9.5 -10.1 -62.6 -13.7 -5.0 -6.327 54.4 11.3 8.3 5.1 5.1 4.9 5.1 -11.1 -11.0 18.3 8.0 -5.2 -0.3 0.6 -0.8 -9.828 11.3 6.3 14.4 23.0 8.1 2.1 -4.8 0.1 -3.0 5.8 -2.4 -0.1 9.6 -5.4 9.0 8.7

29=30+..+33 5.5 4.1 1.0 1.2 -1.1 7.5 61.6 29.6 36.3 18.1 10.4 2.4 -4.9 -1.4 -1.4 -0.730 -1.3 2.2 2.1 3.0 -3.0 -4.9 15.2 15.8 33.2 21.1 6.5 -49.4 -33.4 -1.2 2.9 1.331 8.6 6.7 -0.5 -0.3 -1.2 10.6 78.7 35.2 6.3 -10.7 -8.2 27.9 5.0 4.7 -2.4 3.232 -22.0 -23.1 7.8 6.5 3.3 3.6 85.5 -1.2 965.2 89.8 59.7 16.1 -11.5 -15.4 -0.1 -11.433 22.2 0.8 12.3 10.0 0.9 7.1 4.4 3.3 16.8 4.6 0.8 -1.3 8.5 2.8 -3.4 1.1


35=44(t)-44(t-1)-23 -7.4 3.9 5.8 8.3 4.0 4.2 -14.3 4.3 1.0 36.4 -1.4 8.0 8.7 9.1 0.5 2.636=50(t)-50(t-1)-29 1.6 -0.9 1.7 7.1 -3.0 -1.5 2.9 -0.9 -14.4 20.2 8.0 1.3 4.6 -0.2 0.4 -0.7

37=35-36 = 55(t)-55(t-1)-22 20.2 -8.4 -6.0 3.6 -31.9 -114.6 -3104.3 -15.5 -39.9 7.8 15.7 -3.1 1.9 -5.2 0.2 -2.5

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -3.0 11.2 15.3 18.7 13.4 12.0 20.9 8.7 -15.3 42.8 5.3 2.1 -11.4 0.3 -4.3 0.945 -44.8 1.8 21.4 7.7 6.6 14.0 154.7 3.5 -36.0 -3.9 31.7 -4.7 -26.6 -0.6 -17.4 17.246 10725.0 6.5 22.6 26.4 98.4 8.6 -0.2 88.8 16.3 -21.7 19.6 8.2 -5.9 -65.9 -34.3 5.147 21.5 3.4 2.0 4.1 -6.6 -3.9 11.3 2.6 27.5 1083.7 -15.5 -15.8 -58.2 -7.6 -2.3 -6.048 32.5 20.8 13.4 20.4 11.9 14.8 -23.0 2.4 -6.7 13.2 9.4 22.9 23.2 18.5 1.5 -6.5

48a 113.8 1246.5 151.3 142.6 -10.9 -4.6 55.9 -45.9 1.5 36.2 0.5 56.9 31.6 2.749 4.6 3.9 14.8 31.3 7.4 6.4 -4.6 0.6 -3.8 23.6 -9.1 1.1 1.5 2.5 1.0 14.6

50=51+..+54 7.2 3.2 2.7 8.3 -4.1 6.0 64.5 28.7 21.9 38.3 18.4 3.7 -0.3 -1.6 -1.1 -1.451 -1.3 2.2 2.1 3.0 -3.0 -4.9 15.2 16.5 33.0 325.8 6.4 -49.5 -33.3 -1.0 2.9 1.352 10.9 6.1 2.1 3.6 -5.5 8.7 84.1 34.3 -11.3 1.3 10.5 34.0 12.6 3.1 -2.0 2.653 -24.7 -30.6 7.6 18.3 4.5 1.7 60.7 -3.7 968.0 12.8 59.3 14.9 -9.1 -13.5 0.5 -12.254 26.2 -2.2 9.7 65.6 1.1 6.7 5.6 1.3 17.1 44.5 -0.7 -18.1 3.3 9.4 -4.3 -3.7

55=44-50 27.9 -9.3 -21.1 -20.5 -76.5 -112.4 -7787.1 85.4 83.7 34.9 29.1 4.8 6.8 -2.6 0.7 -2.656=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -1.7 1.3 4.7 6.1 11.6 1.3 -27.8 -29.5 -51.3 -15.2 -7.4 -5.3 -3.3 -2.5 -0.7 -0.4

58=64(t)-64(t-1) 2.5 4.9 1.1 0.7 -1.5 7.9 68.9 31.5 37.8 31.5 10.7 2.5 -5.6 -0.9 -0.5 0.359 = 57+58 = 60+..+63 0.8 6.1 5.8 6.9 10.1 9.2 41.0 2.0 -13.5 16.4 3.3 -2.7 -8.8 -3.3 -1.2 -0.1

60=23 : : : : : : : : : : : : -8.7 -3.6 -2.0 -0.7

61=(-)33 : : : : : : : : : : : : -0.4 -0.1 0.2 -0.1

62 : : : : : : : : : : : : 0.2 0.9 1.0 1.1

63 : : : : : : : : : : : : 0.0 -0.5 -0.4 -0.464=65+66+69 2.5 4.9 1.1 0.7 -1.5 7.9 68.9 31.5 37.8 31.5 10.7 2.5 -5.6 -0.9 -0.5 0.3

65 -1.2 2.3 2.0 3.0 -3.0 -4.9 15.2 16.5 33.0 325.9 6.4 -49.5 -33.3 -1.0 2.9 1.366=67+68 6.0 7.8 0.7 -0.4 -1.4 11.3 81.8 34.6 5.3 -2.4 -7.1 29.0 5.7 5.6 -1.3 5.3

67 3.8 -37.6 -55.7 -22.3 -0.2 260.2 356.2 -19.9 -64.8 -47.3 -32.4 -6.8 57.4 -63.3 73.6 22.368 6.7 21.3 9.4 0.9 -1.5 -0.8 33.5 67.5 25.5 1.2 -6.1 30.1 4.6 7.9 -2.1 4.9

69=70+71 -23.7 -26.6 5.3 13.2 2.1 3.5 33.9 1.8 1101.2 9.3 62.4 17.7 -11.2 -13.0 0.1 -11.270 50.6 -18.6 80.4 -55.4 56.8 3.4 17.1 58.1 5.8 -23.7 237.9 -23.5 -10.3 -20.3 -35.1 -26.671 -30.0 -28.1 -10.4 42.0 -5.1 3.5 37.5 -8.7 1453.2 10.0 59.8 19.0 -11.2 -12.8 0.8 -11.072 : : : : : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.073 : : : : : : : : 81.3 48.2 1.2 1.7 -2.6 -4.9

74=45+46+48a -34.9 2.6 21.7 13.9 27.3 20.3 95.8 13.9 -20.7 -13.2 26.6 0.6 -19.0 -17.7 -12.5 12.8

Table C - Memorandum items75 14.6 8.7 8.0 8.3 10.0 10.9 6.0 -2.9 -8.0 -0.6 -1.2 -1.7 2.8 3.0 3.8 6.576 10.5 8.9 9.5 7.9 8.4 5.3 -1.7 -4.0 -3.9 -2.1 2.0 1.9 4.8 6.0 5.9 6.0

77=20+18-7678 11.5 7.1 7.3 9.0 8.7 6.6 -4.8 -9.4 -1.4 2.0 2.4 2.7 8.5 34.4 4.1 7.6

79 4.5 0.4 1.8 2.5 4.5 2.6 2.2 -2.8 -1.6 -2.9 -2.0 -1.0 0.7 2.8 3.0 3.3



Greece





10=11+..+18 Total expenditure 42,809 65,575 90,778 123,041 128,454 118,616 111,973 106,55911 Intermediate consumption 4,973 7,442 11,727 15,079 15,931 13,862 10,199 9,80212 Compensation of employees 9,479 14,895 22,700 28,046 31,060 28,066 26,102 24,51213 Interest 9,953 9,679 9,353 11,653 11,972 13,239 15,076 9,74614 Subsidies 150 13 169 99 234 343 1,330 1,51115 Social benefits 12,084 20,518 31,968 45,718 48,928 47,328 47,489 44,347

15a of which other than transfers in kind 10,243 17,375 27,090 38,773 41,584 40,114 40,392 38,83816 Other current expenditure 1,703 2,226 4,176 4,899 4,701 4,395 3,354 3,21617 Capital transfers payable 523 2,483 1,329 3,659 3,091 2,930 3,234 8,46918 Capital investments 3,944 8,319 9,356 13,888 12,537 8,453 5,189 4,95619 of which, gross fixed capital formation 3,633 7,137 8,811 13,510 13,559 8,330 5,089 4,825

Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : : : : : : : :

22=23-29 Net financial transactions : : : : : : : :23=24+..+28 Net acquisition of financial assets : : : : : : : :

24 Currency and deposits : : : : : : : :25 Debt securities : : : : : : : :26 Loans : : : : : : : :27 Shares and other equity : : : : : : : :28 Other financial assets : : : : : : : :

29=30+..+33 Net incurrence of liabilities : : : : : : : :30 Currency and deposits : : : : : : : :31 Debt securities : : : : : : : :32 Loans : : : : : : : :33 Other liabilities : : : : : : : :


35=44(t)-44(t-1)-23 Other changes in financial assets : : : : : : : :36=50(t)-50(t-1)-29 Other changes in liabilities : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets : : : : : : : 125,33342 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets : : : : : : : :45 Currency and deposits : : : : : : : :46 Debt securities : : : : : : : :47 Loans : : : : : : : :48 Shares and other equity : : : : : : : :

48a of which, Investment fund shares : : : : : : : :49 Other financial assets : : : : : : : :

50=51+..+54 Liabilities : : : : : : : :51 Currency and deposits : : : : : : : :52 Debt securities : : : : : : : :53 Loans : : : : : : : :54 Other liabilities : : : : : : : :

55=44-50 Financial net worth : : : : : : : :56=39-50=40+55 Net worth : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt 8,223 15,891 14,694 24,860 36,287 29,508 25,665 -51,15059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -833 10,152 2,365 235 321 4,199 4,385 -68,101

60=23 Net acquisition of financial assets 3,222 2,804 974 5,489 3,286 3,969 88 45,674

61=(-)33 Incurrence in liabilities not in government debt -613 -947 3,133 -6,036 -2,411 -507 2,797 -1,935

62 Valuation effects and other changes in volume in government debt -577 3,702 363 936 -965 504 1,568 -111,957

63 Statistical discrepancies -2,865 4,593 -2,105 -154 411 233 -68 11764=65+66+69 Government debt (nominal / face value) : 148,217 213,970 264,775 301,062 330,570 356,235 305,085

65 . Currency and deposits : 497 1,378 844 1,663 1,203 1,106 1,05566=67+68 . Debt securities : 107,750 172,451 225,449 262,773 262,555 251,622 93,432


69=70+71 . Loans : 39,970 40,141 38,482 36,626 66,812 103,507 210,59870 .. short term : 2,789 460 852 800 1,004 662 35971 .. long term : 37,181 39,681 37,630 35,826 65,808 102,845 210,23972 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 21,000 52,901 161,105

74=45+46+48a Government liquid assets : : : : : : : :


77=20+18-76 Net savings and capital transfers -7,708 -1,475 -8,865 -18,081 -31,251 -24,834 -23,756 -19,29978 GDP 93,064 141,247 199,242 241,990 237,534 226,031 207,029 191,204




Greece




2=3+4+5 45,056 45,584 45,950 48,686 49,025 47,221 1,696 1083 25,960 28,086 28,689 30,420 30,752 30,050 603 994 18,934 17,361 17,095 18,130 18,094 17,017 1,068 95 162 137 166 136 179 154 25 06 24,455 24,088 24,422 24,908 25,966 5,290 0 20,6767 5,125 5,008 5,195 5,486 5,438 4,380 628 4308 6,922 4,521 4,294 5,242 3,958 -22,015 3,533 3,238 19,2029 7,217 4,109 5,037 2,954 2,281 -1,377 2,188 1,258 212

10=11+..+18 112,540 89,665 94,839 86,344 85,277 -23,392 64,709 6,141 37,81911 8,595 8,817 8,770 9,027 9,001 6,404 1,703 89412 22,068 21,865 21,551 21,435 21,514 18,838 2,315 36113 7,275 6,970 6,253 5,615 5,619 -389 5,939 65 414 2,104 1,754 1,739 1,802 1,668 1,382 0 28615 38,695 38,908 39,051 38,953 38,439 1,784 907 35,748

15a 34,294 35,107 35,021 35,072 34,222 1,681 762 31,77916 3,188 3,042 2,809 2,815 2,685 -21,626 24,142 76 9317 21,978 1,164 6,425 692 1,361 -1,377 2,290 32 41618 8,637 7,145 8,241 6,005 4,990 3,930 1,043 1719 6,221 6,570 6,812 6,106 7,846 6,803 1,026 17

Government deficit

20=1-10 -23,765 -6,355 -9,941 932 1,391 -2,097 679 2,809


21=20-22 : : : : : : : :

22=23-29 : : : : : : : :23=24+..+28 : : : : : : : : :

24 : : : : : : : : :25 : : : : : : : : :26 : : : : : : : : :27 : : : : : : : : :28 : : : : : : : : :

29=30+..+33 : : : : : : : : :30 : : : : : : : : :31 : : : : : : : : :32 : : : : : : : : :33 : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 122,106 : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 : : : : : : : : :45 : : : : : : : : :46 : : : : : : : : :47 : : : : : : : : :48 : : : : : : : : :

48a : : : : : : : :49 : : : : : : : : :

50=51+..+54 : : : : : : : : :51 : : : : : : : : :52 : : : : : : : : :53 : : : : : : : : :54 : : : : : : : : :

55=44-50 : : : : : : : :56=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -23,765 -6,355 -9,941 932 1,391 -2,097 679 2,809

58=64(t)-64(t-1) 15,413 -869 -7,904 3,286 2,403 1,212 1,272 -74 -759 = 57+58 = 60+..+63 -8,352 -7,224 -17,845 4,218 3,794 1,212 -825 605 2,802

60=23 -11,934 -13,264 -15,814 3,406 1,841 1,204 -1,819 459 1,997

61=(-)33 5,063 2,628 -2,066 1,589 2,563 0 1,720 69 774

62 -1,638 3,449 -23 -761 -769 8 -777 0 0

63 157 -37 58 -16 159 0 51 77 3164=65+66+69 320,498 319,629 311,725 315,011 317,414 -12,374 328,237 1,416 135

65 1,088 6,374 5,546 5,987 5,950 -609 6,559 0 066=67+68 79,194 69,466 61,084 57,163 54,944 -6,384 61,328 0 0

67 10,874 12,201 10,934 10,134 14,322 -311 14,633 0 068 68,320 57,265 50,150 47,029 40,622 -6,073 46,695 0 0

69=70+71 240,216 243,789 245,095 251,861 256,520 -5,381 260,350 1,416 13570 183 352 293 278 377 -4,495 4,863 9 071 240,033 243,437 244,802 251,583 256,143 -886 255,487 1,407 13572 0 0 0 0 0 : : :73 186,429 194,729 183,796 183,796 183,796 : : :

74=45+46+48a : : : : : : : :

Table C - Memorandum items75 36,956 36,305 35,959 35,609 35,952 26,847 4,300 4,80576 6,967 6,795 6,760 6,709 6,616 5,850 755 11

77=20+18-76 -22,095 -6,005 -8,460 228 -235 -4,017 967 2,81578 180,654 178,656 177,258 176,488 180,218

79 743 723 724 728 734

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Greece





10=11+..+18 Total expenditure 46.0 46.4 45.6 50.8 54.1 52.5 54.1 55.7 62.3 50.2 53.5 48.9 47.3 -13.0 35.9 3.4 21.011 Intermediate consumption 5.3 5.3 5.9 6.2 6.7 6.1 4.9 5.1 4.8 4.9 4.9 5.1 5.0 3.6 0.9 0.512 Compensation of employees 10.2 10.5 11.4 11.6 13.1 12.4 12.6 12.8 12.2 12.2 12.2 12.1 11.9 10.5 1.3 0.213 Interest 10.7 6.9 4.7 4.8 5.0 5.9 7.3 5.1 4.0 3.9 3.5 3.2 3.1 -0.2 3.3 0.0 0.014 Subsidies 0.2 0.0 0.1 0.0 0.1 0.2 0.6 0.8 1.2 1.0 1.0 1.0 0.9 0.8 0.0 0.215 Social benefits 13.0 14.5 16.0 18.9 20.6 20.9 22.9 23.2 21.4 21.8 22.0 22.1 21.3 1.0 0.5 19.8


Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -9.7 -4.1 -6.2 -10.2 -15.1 -11.2 -10.3 -8.9 -13.2 -3.6 -5.6 0.5 0.8 -1.2 0.4 1.6


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : : : : : : : : : : : : : : :

22=23-29 Net financial transactions : : : : : : : : : : : : : : : :23=24+..+28 Net acquisition of financial assets : : : : : : : : : : : : : : : : :

24 Currency and deposits : : : : : : : : : : : : : : : : :25 Debt securities : : : : : : : : : : : : : : : : :26 Loans : : : : : : : : : : : : : : : : :27 Shares and other equity : : : : : : : : : : : : : : : : :28 Other financial assets : : : : : : : : : : : : : : : : :

29=30+..+33 Net incurrence of liabilities : : : : : : : : : : : : : : : : :30 Currency and deposits : : : : : : : : : : : : : : : : :31 Debt securities : : : : : : : : : : : : : : : : :32 Loans : : : : : : : : : : : : : : : : :33 Other liabilities : : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 Other changes in financial assets : : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 Other changes in liabilities : : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : 65.5 67.6 : : : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : : : : : : : : : : : : : : : : :45 Currency and deposits : : : : : : : : : : : : : : : : :46 Debt securities : : : : : : : : : : : : : : : : :47 Loans : : : : : : : : : : : : : : : : :48 Shares and other equity : : : : : : : : : : : : : : : : :

48a of which, Investment fund shares : : : : : : : : : : : : : : : :49 Other financial assets : : : : : : : : : : : : : : : : :

50=51+..+54 Liabilities : : : : : : : : : : : : : : : : :51 Currency and deposits : : : : : : : : : : : : : : : : :52 Debt securities : : : : : : : : : : : : : : : : :53 Loans : : : : : : : : : : : : : : : : :54 Other liabilities : : : : : : : : : : : : : : : : :

55=44-50 Financial net worth : : : : : : : : : : : : : : : :56=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -9.7 -4.1 -6.2 -10.2 -15.1 -11.2 -10.3 -8.9 -13.2 -3.6 -5.6 0.5 0.8 -1.2 0.4 1.6

58=64(t)-64(t-1) Change in Government Debt 8.8 11.3 7.4 10.3 15.3 13.1 12.4 -26.8 8.5 -0.5 -4.5 1.9 1.3 0.7 0.7 0.0 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) -0.9 7.2 1.2 0.1 0.1 1.9 2.1 -35.6 -4.6 -4.0 -10.1 2.4 2.1 0.7 -0.5 0.3 1.6

60=23 Net acquisition of financial assets 3.5 2.0 0.5 2.3 1.4 1.8 0.0 23.9 -6.6 -7.4 -8.9 1.9 1.0 0.7 -1.0 0.3 1.1

61=(-)33 Incurrence in liabilities not in government debt -0.7 -0.7 1.6 -2.5 -1.0 -0.2 1.4 -1.0 2.8 1.5 -1.2 0.9 1.4 0.0 1.0 0.0 0.4

62Valuation effects and other changes in volume in government debt -0.6 2.6 0.2 0.4 -0.4 0.2 0.8 -58.6 -0.9 1.9 0.0 -0.4 -0.4 0.0 -0.4 0.0 0.0

63 Statistical discrepancies -3.1 3.3 -1.1 -0.1 0.2 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 104.9 107.4 109.4 126.7 146.2 172.1 159.6 177.4 178.9 175.9 178.5 176.1 -6.9 182.1 0.8 0.1

65 . Currency and deposits : 0.4 0.7 0.3 0.7 0.5 0.5 0.6 0.6 3.6 3.1 3.4 3.3 -0.3 3.6 0.0 0.066=67+68 . Debt securities : 76.3 86.6 93.2 110.6 116.2 121.5 48.9 43.8 38.9 34.5 32.4 30.5 -3.5 34.0 0.0 0.0

67 .. short term : 1.3 0.6 2.3 4.2 3.7 5.2 8.0 6.0 6.8 6.2 5.7 7.9 -0.2 8.1 0.0 0.068 .. long term : 75.0 86.0 90.9 106.4 112.5 116.3 40.9 37.8 32.1 28.3 26.6 22.5 -3.4 25.9 0.0 0.0

69=70+71 . Loans : 28.3 20.1 15.9 15.4 29.6 50.0 110.1 133.0 136.5 138.3 142.7 142.3 -3.0 144.5 0.8 0.170 .. short term : 2.0 0.2 0.4 0.3 0.4 0.3 0.2 0.1 0.2 0.2 0.2 0.2 -2.5 2.7 0.0 0.071 .. long term : 26.3 19.9 15.6 15.1 29.1 49.7 110.0 132.9 136.3 138.1 142.5 142.1 -0.5 141.8 0.8 0.172 Intergovernmental lending (asset)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 9.3 25.6 84.3 103.2 109.0 103.7 104.1 102.0 : : :

74=45+46+48a Government liquid assets : : : : : : : : : : : : : : : :


77=20+18-76 Net savings and capital transfers -8.3 -1.0 -4.4 -7.5 -13.2 -11.0 -11.5 -10.1 -12.2 -3.4 -4.8 0.1 -0.1 -2.2 0.5 1.678 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Greece



Government revenue and expenditure1=2+6+7+8+9 5.4 6.7 8.3 4.4 8.8 10.1 4.8 -6.0 0.9 -2.8 -1.2 -0.9 -6.2 1.9 2.8 -0.7

2=3+4+5 9.0 1.6 5.3 9.2 7.4 8.3 3.9 -4.0 -2.6 -0.1 0.1 -4.9 1.2 0.8 6.0 0.73 8.3 3.2 3.5 5.3 12.9 9.6 4.0 -8.5 2.3 -1.7 -5.2 -2.1 8.2 2.1 6.0 1.14 10.7 0.0 7.9 14.5 0.7 6.6 2.3 3.3 -7.9 2.2 8.3 -8.4 -8.3 -1.5 6.1 -0.25 -12.1 -22.6 11.3 21.6 -17.5 -6.8 102.6 -14.7 -52.3 0.0 -35.6 0.6 -15.4 21.2 -18.1 31.66 15.7 8.7 5.1 4.7 5.5 11.6 6.1 -4.2 1.2 -8.2 -2.4 -8.1 -1.5 1.4 2.0 4.27 -0.2 14.6 44.5 -25.8 6.0 17.3 9.6 -6.2 1.1 -13.6 -9.2 -5.0 -2.3 3.7 5.6 -0.98 -29.1 4.3 -2.7 -1.3 13.5 12.6 21.3 -3.9 -2.2 16.0 -2.1 25.1 -34.7 -5.0 22.1 -24.59 -51.7 122.7 27.8 21.5 49.3 8.2 -13.4 -41.8 64.6 0.9 4.0 54.0 -43.1 22.6 -41.4 -22.8

10=11+..+18 7.0 11.3 10.7 -1.6 8.3 11.4 12.3 4.4 -7.7 -5.6 -4.8 5.6 -20.3 5.8 -9.0 -1.211 3.6 12.1 17.3 -4.9 16.2 14.7 -3.6 5.7 -13.0 -26.4 -3.9 -12.3 2.6 -0.5 2.9 -0.312 11.8 6.8 15.3 3.7 5.7 7.5 8.8 10.7 -9.6 -7.0 -6.1 -10.0 -0.9 -1.4 -0.5 0.413 -4.8 -3.8 5.8 0.9 2.9 8.8 11.3 2.7 10.6 13.9 -35.4 -25.4 -4.2 -10.3 -10.2 0.114 33.3 382.7 -24.7 -10.6 -52.7 143.8 -49.2 136.4 46.6 287.8 13.6 39.2 -16.6 -0.9 3.6 -7.415 7.9 13.4 5.8 9.3 12.5 11.2 14.3 7.0 -3.3 0.3 -6.6 -12.7 0.6 0.4 -0.3 -1.3

15a 7.3 13.9 5.9 9.1 12.4 11.3 14.4 7.2 -3.5 0.7 -3.8 -11.7 2.4 -0.2 0.1 -2.416 0.1 23.8 30.8 9.6 -10.8 11.6 17.9 -4.0 -6.5 -23.7 -4.1 -0.9 -4.6 -7.7 0.2 -4.617 31.2 17.8 50.4 -62.6 -44.8 99.5 149.9 -15.5 -5.2 10.4 161.9 159.5 -94.7 452.0 -89.2 96.718 9.8 21.6 0.3 -21.6 12.8 12.2 17.4 -9.7 -32.6 -38.6 -4.5 74.3 -17.3 15.3 -27.1 -16.919 -11.4 32.8 3.7 -20.1 41.7 -9.6 19.7 0.4 -38.6 -38.9 -5.2 28.9 5.6 3.7 -10.4 28.5

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : : : : : : : : : : : : : :

24 : : : : : : : : : : : : : : : :25 : : : : : : : : : : : : : : : :26 : : : : : : : : : : : : : : : :27 : : : : : : : : : : : : : : : :28 : : : : : : : : : : : : : : : :

29=30+..+33 : : : : : : : : : : : : : : : :30 : : : : : : : : : : : : : : : :31 : : : : : : : : : : : : : : : :32 : : : : : : : : : : : : : : : :33 : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : -2.6 : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : : : : : : : : : : : : : :45 : : : : : : : : : : : : : : : :46 : : : : : : : : : : : : : : : :47 : : : : : : : : : : : : : : : :48 : : : : : : : : : : : : : : : :

48a : : : : : : : : : : : : : : : :49 : : : : : : : : : : : : : : : :

50=51+..+54 : : : : : : : : : : : : : : : :51 : : : : : : : : : : : : : : : :52 : : : : : : : : : : : : : : : :53 : : : : : : : : : : : : : : : :54 : : : : : : : : : : : : : : : :

55=44-50 : : : : : : : : : : : : : : : :56=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 5.2 5.9 9.8 7.4 5.5 6.3 10.4 13.7 9.8 7.8 -14.4 5.1 -0.3 -2.5 1.1 0.859 = 57+58 = 60+..+63 -0.9 -2.3 0.4 1.2 -0.6 -0.6 0.1 0.1 1.4 1.3 -19.1 -2.7 -2.3 -5.6 1.4 1.2

60=23 0.1 -0.2 2.6 0.5 0.7 0.3 2.3 1.2 1.3 0.0 12.8 -3.9 -4.1 -4.9 1.1 0.6

61=(-)33 -1.3 -1.2 -0.8 1.6 -1.1 -1.4 -2.5 -0.9 -0.2 0.8 -0.5 1.7 0.8 -0.6 0.5 0.8

62 -0.4 -0.5 -0.1 0.2 0.0 0.1 0.4 -0.4 0.2 0.5 -31.4 -0.5 1.1 0.0 -0.2 -0.2

63 0.8 -0.4 -1.3 -1.1 -0.2 0.4 -0.1 0.2 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.164=65+66+69 5.2 5.9 9.8 7.4 5.5 6.3 10.4 13.7 9.8 7.8 -14.4 5.1 -0.3 -2.5 1.1 0.8

65 109.0 -8.8 14.4 4.8 -21.3 -30.8 12.4 97.0 -27.7 -8.1 -4.6 3.1 485.8 -13.0 8.0 -0.666=67+68 8.8 9.2 13.8 10.8 6.8 9.2 12.1 16.6 -0.1 -4.2 -62.9 -15.2 -12.3 -12.1 -6.4 -3.9

67 29.3 -43.9 170.1 -21.0 -18.4 72.3 238.2 82.4 -17.5 31.1 41.1 -29.0 12.2 -10.4 -7.3 41.368 8.7 9.7 13.1 11.1 7.0 8.9 10.3 14.9 0.6 -5.3 -67.6 -12.5 -16.2 -12.4 -6.2 -13.6

69=70+71 -5.0 -3.1 -2.9 -5.0 0.7 -5.8 1.1 -4.8 82.4 54.9 103.5 14.1 1.5 0.5 2.8 1.870 -67.0 13.2 -9.9 -12.4 255.4 -58.8 26.4 -6.1 25.5 -34.1 -45.8 -49.0 92.3 -16.8 -5.1 35.671 -2.9 -3.2 -2.8 -4.9 -2.3 -3.6 0.7 -4.8 83.7 56.3 104.4 14.2 1.4 0.6 2.8 1.872 : : : : : : : :73 : : : : : : : : 151.9 204.5 15.7 4.5 -5.6 0.0 0.0

74=45+46+48a : : : : : : : : : : : : : : : :

Table C - Memorandum items75 10.3 7.9 9.4 7.5 10.1 8.7 5.1 10.4 -9.3 -10.2 -7.5 -11.5 -1.8 -1.0 -1.0 1.076 8.2 7.9 9.0 4.9 8.6 6.6 7.7 6.5 2.0 -3.9 -4.7 -4.6 -2.5 -0.5 -0.8 -1.4

77=20+18-7678 7.4 9.4 8.3 2.9 9.3 6.8 4.0 -1.8 -4.8 -8.4 -7.6 -5.5 -1.1 -0.8 -0.4 2.1

79 2.1 0.9 7.9 0.9 2.6 3.7 -0.7 -0.9 1.3 -4.0 -7.0 -3.3 -2.7 0.1 0.6 0.8



Spain




2=3+4+5 Taxes 92,620 141,100 219,076 229,690 198,263 215,377 212,412 218,8143 . Indirect taxes 46,512 74,092 113,847 108,121 92,208 110,407 106,513 108,5514 . Direct taxes 44,610 64,519 100,912 116,720 101,737 100,736 102,003 106,3835 . Capital taxes 1,498 2,489 4,317 4,849 4,318 4,234 3,896 3,8806 Social contributions 57,005 81,425 117,460 142,049 139,727 138,649 137,802 131,8597 Sales (incl . own account capital formation) 8,108 10,963 15,843 21,366 22,672 22,852 22,460 24,1358 Other current revenue 11,837 11,167 12,570 18,745 19,325 18,397 19,022 18,8069 Capital revenue 1,731 1,364 2,854 -1,804 -4,179 -3,477 -4,318 -2,284



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -32,327 -7,106 11,256 -49,343 -118,194 -101,404 -103,214 -108,847


21=20-22Statistical discrepancy(non-financial minus financial accounts) 0 0 0 0 0 0 0 0

22=23-29 Net financial transactions -32,327 -7,106 11,256 -49,343 -118,194 -101,404 -103,214 -108,84723=24+..+28 Net acquisition of financial assets -568 10,130 21,880 13,938 24,964 -15,389 -1,276 17,397

24 Currency and deposits -319 11,093 11,377 819 17,813 -24,635 -17,606 7,17025 Debt securities 5 46 4,594 10,219 -5,414 -5,449 -8,072 -8,99226 Loans 21 200 656 2,539 8,129 6,901 12,563 8,86227 Shares and other equity -638 -3,219 463 838 345 8,251 -477 3,48928 Other financial assets 361 2,009 4,789 -477 4,090 -456 12,316 6,866

29=30+..+33 Net incurrence of liabilities 31,759 17,236 10,624 63,281 143,158 86,015 101,938 126,24430 Currency and deposits 191 -49 255 113 49 116 101 -431 Debt securities 26,167 10,297 3,979 43,663 121,334 60,781 73,917 62,51032 Loans 3,906 410 -12 13,142 12,621 18,909 16,811 88,03633 Other liabilities 1,494 6,577 6,401 6,364 9,155 6,209 11,109 -24,298


35=44(t)-44(t-1)-23 Other changes in financial assets : 5,116 13,947 324 1,457 6,078 25,000 12,63336=50(t)-50(t-1)-29 Other changes in liabilities : 68 2,118 11,802 -899 -33,442 10,144 2,007

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 5,048 11,829 -11,478 2,356 39,520 14,856 10,626

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets 84,578 143,488 201,919 280,459 306,880 297,569 321,293 351,32345 Currency and deposits 28,279 56,681 75,605 101,935 119,749 95,114 77,523 84,69346 Debt securities 106 349 6,127 34,403 28,038 22,358 14,409 4,89547 Loans 11,005 9,149 14,857 20,906 28,960 36,736 49,387 58,45048 Shares and other equity 36,374 58,827 74,531 86,377 89,251 102,905 127,237 143,789

48a of which, Investment fund shares 0 0 0 0 500 398 310 28949 Other financial assets 8,813 18,483 30,798 36,837 40,883 40,457 52,736 59,496

50=51+..+54 Liabilities 310,185 421,131 465,103 526,937 669,196 721,769 833,851 962,10251 Currency and deposits 2,338 2,595 2,798 3,420 3,468 3,584 3,685 3,68152 Debt securities 222,192 334,110 357,439 379,109 498,918 527,283 609,640 674,83453 Loans 64,402 57,356 66,897 80,820 93,390 112,269 129,939 217,93454 Other liabilities 21,252 27,070 37,969 63,589 73,420 78,633 90,587 65,653

55=44-50 Financial net worth -225,607 -277,643 -263,184 -246,478 -362,316 -424,200 -512,558 -610,77956=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -32,327 -7,106 11,256 -49,343 -118,194 -101,404 -103,214 -108,847

58=64(t)-64(t-1) Change in Government Debt 33,950 12,334 3,591 55,959 128,914 80,544 94,244 147,17959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 1,623 5,228 14,847 6,616 10,720 -20,860 -8,970 38,332

60=23 Net acquisition of financial assets -568 10,130 21,880 13,938 24,964 -15,389 -1,277 17,396

61=(-)33 Incurrence in liabilities not in government debt -957 -6,201 -7,164 -6,529 -9,831 -5,212 -11,954 24,422

62 Valuation effects and other changes in volume in government debt 3,531 1,617 -632 -978 -5,095 743 3,400 -3,331

63 Statistical discrepancies -383 -318 764 186 683 -1,002 861 -15664=65+66+69 Government debt (nominal / face value) 283,457 374,557 393,479 440,621 569,535 650,079 744,323 891,502

65 . Currency and deposits 2,338 2,595 2,798 3,420 3,468 3,584 3,685 3,68166=67+68 . Debt securities 216,717 314,607 323,784 356,381 472,678 534,226 610,699 669,887

67 .. short term 71,747 13,617 11,354 53,033 86,395 68,929 74,185 60,57668 .. long term 144,971 300,990 312,430 303,348 386,283 465,297 536,514 609,311

69=70+71 . Loans 64,402 57,356 66,897 80,820 93,390 112,269 129,939 217,93470 .. short term 7,836 5,809 4,567 8,089 9,775 8,438 15,232 15,13971 .. long term 56,566 51,547 62,330 72,731 83,615 103,831 114,707 202,79572 Intergovernmental lending (asset)* : : : : 0 2,598 8,717 24,54273 Intergovernmental lending (borrowing)* : : : : 0 0 0 0



77=20+18-76 Net savings and capital transfers -21,670 3,895 30,766 -20,567 -86,651 -76,230 -90,008 -110,20278 GDP 459,337 646,250 930,566 1,116,225 1,079,052 1,080,935 1,070,449 1,039,815




Spain




2=3+4+5 225,278 230,915 242,999 246,883 259,601 161,035 60,175 38,391 03 115,010 119,644 127,499 129,536 135,242 94,052 14,790 26,400 04 105,174 105,606 109,168 110,922 118,616 66,615 42,927 9,074 05 5,094 5,665 6,332 6,425 5,743 368 2,458 2,917 06 128,217 130,052 132,320 136,007 143,056 10,085 295 266 132,4107 24,037 24,253 24,213 24,788 24,794 5,273 12,036 7,417 688 19,363 17,954 15,753 15,852 15,159 -143,243 20,814 93,655 27,499 16,4349 -1,256 308 451 -1,371 -387 -3,295 -1,056 2,992 1,466 -494

10=11+..+18 467,326 465,424 472,740 472,155 478,126 -146,538 218,187 173,384 67,900 165,19311 54,778 55,190 57,474 57,242 58,817 8,609 28,212 20,958 1,03812 114,711 115,206 119,356 121,465 123,045 23,200 74,848 22,486 2,51113 35,656 36,055 33,281 31,356 29,817 -1,626 26,461 4,354 628 014 10,755 11,326 12,272 11,229 12,088 5,536 3,018 1,355 2,17915 198,967 198,720 198,785 203,248 207,725 19,488 31,406 1,328 155,503

15a 170,763 171,053 170,583 174,094 177,711 18,217 4,032 531 154,93116 18,032 17,359 16,402 17,389 16,124 -141,617 122,258 17,445 14,186 3,85217 10,697 8,503 7,279 7,855 6,863 -3,295 5,391 3,837 927 318 23,730 23,065 27,891 22,371 23,647 7,244 10,264 6,032 10719 23,052 22,299 27,096 21,686 23,019 7,085 10,196 5,590 148

Government deficit

20=1-10 -71,687 -61,942 -57,004 -49,996 -35,903 -22,036 -4,231 7,139 -16,775


21=20-22 1 0 0 0 419 -236 663 -19 11

22=23-29 -71,688 -61,942 -57,004 -49,996 -36,322 -21,800 -4,894 7,158 -16,78623=24+..+28 -10,216 4,798 -15,677 -12,045 12,544 -20,294 29,517 4,131 4,689 -5,499

24 -23,693 11,216 1,528 -6,165 13,652 0 6,455 1,630 4,121 1,44625 -12,607 -5,141 -3,810 -370 -752 6,930 -699 0 0 -6,98326 3,303 838 -2,665 -1,332 -815 -27,508 26,770 -100 23 027 11,694 -1,616 -3,814 -1,054 -1,732 1 -1,653 -105 28 -328 11,089 -498 -6,918 -3,122 2,192 288 -1,357 2,704 517 40

29=30+..+33 61,472 66,740 41,327 37,951 48,866 -20,294 51,317 9,025 -2,469 11,28730 15 151 208 190 215 0 215 0 0 031 95,423 65,787 61,207 53,810 57,573 6,930 50,930 -118 -169 032 -27,663 1,887 -20,044 -13,072 -13,919 -27,510 -4,629 10,995 -2,996 10,22133 -6,302 -1,083 -45 -2,977 4,998 288 4,801 -1,852 695 1,066


35=44(t)-44(t-1)-23 31,401 5,950 13,003 8,467 243 -1,116 1,155 537 -36 -29736=50(t)-50(t-1)-29 60,929 77,600 -12,631 8,025 -15,076 -1,115 -13,344 -577 -35 -5

37=35-36 = 55(t)-55(t-1)-22 -29,528 -71,650 25,634 442 15,319 14,499 1,114 -1 -292

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 : : : : : : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 372,508 383,256 380,582 377,004 389,791 -246,349 527,824 40,729 33,290 34,29745 72,709 83,925 85,453 79,287 92,939 0 38,715 16,554 24,299 13,37146 13,953 8,501 3,834 2,967 2,714 -11,156 3,806 0 66 9,99847 63,281 64,467 62,067 60,868 59,649 -200,439 255,923 3,631 434 10048 150,741 155,036 164,818 172,593 171,009 0 153,066 11,833 5,902 208

48a 346 607 287 154 151 : : : :49 71,824 71,327 64,410 61,288 63,480 -34,753 76,313 8,712 2,589 10,619

50=51+..+54 1,084,503 1,228,843 1,257,539 1,303,515 1,337,305 -246,348 1,180,060 313,680 47,665 42,24851 3,696 3,847 4,056 4,247 4,462 0 4,462 0 0 052 807,072 951,182 1,000,570 1,062,488 1,104,995 -11,155 1,063,205 51,842 1,103 053 214,224 216,087 196,308 183,364 169,437 -200,438 73,080 241,319 28,083 27,39354 59,510 57,726 56,606 53,415 58,412 -34,753 39,313 20,518 18,479 14,855

55=44-50 -711,995 -845,587 -876,957 -926,511 -947,514 -652,236 -272,951 -14,375 -7,95156=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -71,687 -61,942 -57,004 -49,996 -35,903 -22,036 -4,231 7,139 -16,775

58=64(t)-64(t-1) 87,529 62,593 32,310 33,286 37,205 -22,162 41,202 11,106 -3,161 10,22059 = 57+58 = 60+..+63 15,842 651 -24,694 -16,710 1,302 -22,162 19,166 6,875 3,978 -6,555

60=23 -10,215 4,798 -15,679 -12,045 12,544 -20,294 29,517 4,132 4,688 -5,499

61=(-)33 6,328 1,783 1,121 3,191 -4,998 -287 -4,801 1,851 -695 -1,066

62 19,742 -5,257 -9,064 -7,656 -6,647 -1,584 -5,295 229 3 0

63 -13 -676 -1,072 -200 402 2 -255 663 -19 1164=65+66+69 979,031 1,041,624 1,073,934 1,107,220 1,144,425 -210,931 1,010,779 288,107 29,077 27,393

65 3,696 3,847 4,056 4,247 4,462 0 4,462 0 0 066=67+68 761,110 821,689 873,570 919,609 970,527 -10,491 933,237 46,788 993 0

67 78,977 77,611 80,798 82,375 75,603 -3,404 78,656 351 0 068 682,133 744,078 792,772 837,234 894,924 -7,087 854,581 46,437 993 0

69=70+71 214,224 216,087 196,308 183,364 169,437 -200,438 73,080 241,319 28,083 27,39370 12,078 11,620 11,239 9,485 8,844 0 192 8,216 436 071 202,146 204,468 185,069 173,879 160,592 -200,440 72,889 233,103 27,647 27,39372 29,351 30,575 29,181 29,181 29,181 : : : :73 0 0 0 0 0 : : : :

74=45+46+48a 87,008 93,033 89,574 82,408 95,804 : : : :


77=20+18-76 -75,806 -66,677 -56,741 -55,302 -40,359 -24,458 -6,023 7,083 -16,96178 1,025,693 1,037,820 1,081,165 1,118,743 1,166,319

79 2,896 2,884 2,905 2,927 2,986

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2=3+4+5 Taxes 20.2 21.8 23.5 20.6 18.4 19.9 19.8 21.0 22.0 22.3 22.5 22.1 22.3 13.8 5.2 3.3 0.03 . Indirect taxes 10.1 11.5 12.2 9.7 8.5 10.2 10.0 10.4 11.2 11.5 11.8 11.6 11.6 8.1 1.3 2.3 0.04 . Direct taxes 9.7 10.0 10.8 10.5 9.4 9.3 9.5 10.2 10.3 10.2 10.1 9.9 10.2 5.7 3.7 0.8 0.05 . Capital taxes 0.3 0.4 0.5 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.5 0.0 0.2 0.3 0.06 Social contributions 12.4 12.6 12.6 12.7 12.9 12.8 12.9 12.7 12.5 12.5 12.2 12.2 12.3 0.9 0.0 0.0 11.47 Sales (incl. own account capital formation) 1.8 1.7 1.7 1.9 2.1 2.1 2.1 2.3 2.3 2.3 2.2 2.2 2.1 0.5 1.0 0.6 0.08 Other current revenue 2.6 1.7 1.4 1.7 1.8 1.7 1.8 1.8 1.9 1.7 1.5 1.4 1.3 -12.3 1.8 8.0 2.4 1.49 Capital revenue 0.4 0.2 0.3 -0.2 -0.4 -0.3 -0.4 -0.2 -0.1 0.0 0.0 -0.1 0.0 -0.3 -0.1 0.3 0.1 0.0

10=11+..+18 Total expenditure 44.3 39.2 38.3 41.2 45.8 45.6 45.8 48.1 45.6 44.8 43.7 42.2 41.0 -12.6 18.7 14.9 5.8 14.211 Intermediate consumption 4.3 4.0 4.6 5.3 5.7 5.6 5.7 5.6 5.3 5.3 5.3 5.1 5.0 0.7 2.4 1.8 0.112 Compensation of employees 11.0 10.1 9.7 10.6 11.6 11.6 11.5 11.0 11.2 11.1 11.0 10.9 10.5 2.0 6.4 1.9 0.213 Interest 4.9 3.2 1.7 1.5 1.7 1.9 2.5 3.0 3.5 3.5 3.1 2.8 2.6 -0.1 2.3 0.4 0.1 0.014 Subsidies 1.0 1.2 1.0 1.1 1.2 1.1 1.1 1.0 1.0 1.1 1.1 1.0 1.0 0.5 0.3 0.1 0.215 Social benefits 15.3 14.0 14.0 14.9 17.3 18.0 18.2 19.0 19.4 19.1 18.4 18.2 17.8 1.7 2.7 0.1 13.3


Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -7.0 -1.1 1.2 -4.4 -11.0 -9.4 -9.6 -10.5 -7.0 -6.0 -5.3 -4.5 -3.1 -1.9 -0.4 0.6 -1.4


21=20-22Statistical discrepancy(non-financial minus financial accounts) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0

22=23-29 Net financial transactions -7.0 -1.1 1.2 -4.4 -11.0 -9.4 -9.6 -10.5 -7.0 -6.0 -5.3 -4.5 -3.1 -1.9 -0.4 0.6 -1.423=24+..+28 Net acquisition of financial assets -0.1 1.6 2.4 1.2 2.3 -1.4 -0.1 1.7 -1.0 0.5 -1.5 -1.1 1.1 -1.7 2.5 0.4 0.4 -0.5

24 Currency and deposits -0.1 1.7 1.2 0.1 1.7 -2.3 -1.6 0.7 -2.3 1.1 0.1 -0.6 1.2 0.0 0.6 0.1 0.4 0.125 Debt securities 0.0 0.0 0.5 0.9 -0.5 -0.5 -0.8 -0.9 -1.2 -0.5 -0.4 0.0 -0.1 0.6 -0.1 0.0 0.0 -0.626 Loans 0.0 0.0 0.1 0.2 0.8 0.6 1.2 0.9 0.3 0.1 -0.2 -0.1 -0.1 -2.4 2.3 0.0 0.0 0.027 Shares and other equity -0.1 -0.5 0.0 0.1 0.0 0.8 0.0 0.3 1.1 -0.2 -0.4 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.028 Other financial assets 0.1 0.3 0.5 0.0 0.4 0.0 1.2 0.7 1.1 0.0 -0.6 -0.3 0.2 0.0 -0.1 0.2 0.0 0.0

29=30+..+33 Net incurrence of liabilities 6.9 2.7 1.1 5.7 13.3 8.0 9.5 12.1 6.0 6.4 3.8 3.4 4.2 -1.7 4.4 0.8 -0.2 1.030 Currency and deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities 5.7 1.6 0.4 3.9 11.2 5.6 6.9 6.0 9.3 6.3 5.7 4.8 4.9 0.6 4.4 0.0 0.0 0.032 Loans 0.9 0.1 0.0 1.2 1.2 1.7 1.6 8.5 -2.7 0.2 -1.9 -1.2 -1.2 -2.4 -0.4 0.9 -0.3 0.933 Other liabilities 0.3 1.0 0.7 0.6 0.8 0.6 1.0 -2.3 -0.6 -0.1 0.0 -0.3 0.4 0.0 0.4 -0.2 0.1 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.8 1.5 0.0 0.1 0.6 2.3 1.2 3.1 0.6 1.2 0.8 0.0 -0.1 0.1 0.0 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.0 0.2 1.1 -0.1 -3.1 0.9 0.2 5.9 7.5 -1.2 0.7 -1.3 -0.1 -1.1 0.0 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.8 1.3 -1.0 0.2 3.7 1.4 1.0 -2.9 -6.9 2.4 0.0 1.3 1.2 0.1 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets 18.4 22.2 21.7 25.1 28.4 27.5 30.0 33.8 36.3 36.9 35.2 33.7 33.4 -21.1 45.3 3.5 2.9 2.945 Currency and deposits 6.2 8.8 8.1 9.1 11.1 8.8 7.2 8.1 7.1 8.1 7.9 7.1 8.0 0.0 3.3 1.4 2.1 1.146 Debt securities 0.0 0.1 0.7 3.1 2.6 2.1 1.3 0.5 1.4 0.8 0.4 0.3 0.2 -1.0 0.3 0.0 0.0 0.947 Loans 2.4 1.4 1.6 1.9 2.7 3.4 4.6 5.6 6.2 6.2 5.7 5.4 5.1 -17.2 21.9 0.3 0.0 0.048 Shares and other equity 7.9 9.1 8.0 7.7 8.3 9.5 11.9 13.8 14.7 14.9 15.2 15.4 14.7 0.0 13.1 1.0 0.5 0.0

48a of which, Investment fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 : : : :49 Other financial assets 1.9 2.9 3.3 3.3 3.8 3.7 4.9 5.7 7.0 6.9 6.0 5.5 5.4 -3.0 6.5 0.7 0.2 0.9

50=51+..+54 Liabilities 67.5 65.2 50.0 47.2 62.0 66.8 77.9 92.5 105.7 118.4 116.3 116.5 114.7 -21.1 101.2 26.9 4.1 3.651 Currency and deposits 0.5 0.4 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.0 0.4 0.0 0.0 0.052 Debt securities 48.4 51.7 38.4 34.0 46.2 48.8 57.0 64.9 78.7 91.7 92.5 95.0 94.7 -1.0 91.2 4.4 0.1 0.053 Loans 14.0 8.9 7.2 7.2 8.7 10.4 12.1 21.0 20.9 20.8 18.2 16.4 14.5 -17.2 6.3 20.7 2.4 2.354 Other liabilities 4.6 4.2 4.1 5.7 6.8 7.3 8.5 6.3 5.8 5.6 5.2 4.8 5.0 -3.0 3.4 1.8 1.6 1.3

55=44-50 Financial net worth -49.1 -43.0 -28.3 -22.1 -33.6 -39.2 -47.9 -58.7 -69.4 -81.5 -81.1 -82.8 -81.2 -55.9 -23.4 -1.2 -0.756=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -7.0 -1.1 1.2 -4.4 -11.0 -9.4 -9.6 -10.5 -7.0 -6.0 -5.3 -4.5 -3.1 -1.9 -0.4 0.6 -1.4

58=64(t)-64(t-1) Change in Government Debt 7.4 1.9 0.4 5.0 11.9 7.5 8.8 14.2 8.5 6.0 3.0 3.0 3.2 -1.9 3.5 1.0 -0.3 0.959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 0.4 0.8 1.6 0.6 1.0 -1.9 -0.8 3.7 1.5 0.1 -2.3 -1.5 0.1 -1.9 1.6 0.6 0.3 -0.6

60=23 Net acquisition of financial assets -0.1 1.6 2.4 1.2 2.3 -1.4 -0.1 1.7 -1.0 0.5 -1.5 -1.1 1.1 -1.7 2.5 0.4 0.4 -0.5

61=(-)33 Incurrence in liabilities not in government debt -0.2 -1.0 -0.8 -0.6 -0.9 -0.5 -1.1 2.3 0.6 0.2 0.1 0.3 -0.4 0.0 -0.4 0.2 -0.1 -0.1

62Valuation effects and other changes in volume in government debt 0.8 0.3 -0.1 -0.1 -0.5 0.1 0.3 -0.3 1.9 -0.5 -0.8 -0.7 -0.6 -0.1 -0.5 0.0 0.0 0.0

63 Statistical discrepancies -0.1 0.0 0.1 0.0 0.1 -0.1 0.1 0.0 0.0 -0.1 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.064=65+66+69 Government debt (nominal / face value) 61.7 58.0 42.3 39.5 52.8 60.1 69.5 85.7 95.5 100.4 99.3 99.0 98.1 -18.1 86.7 24.7 2.5 2.3

65 . Currency and deposits 0.5 0.4 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.0 0.4 0.0 0.0 0.066=67+68 . Debt securities 47.2 48.7 34.8 31.9 43.8 49.4 57.1 64.4 74.2 79.2 80.8 82.2 83.2 -0.9 80.0 4.0 0.1 0.0

67 .. short term 15.6 2.1 1.2 4.8 8.0 6.4 6.9 5.8 7.7 7.5 7.5 7.4 6.5 -0.3 6.7 0.0 0.0 0.068 .. long term 31.6 46.6 33.6 27.2 35.8 43.0 50.1 58.6 66.5 71.7 73.3 74.8 76.7 -0.6 73.3 4.0 0.1 0.0

69=70+71 . Loans 14.0 8.9 7.2 7.2 8.7 10.4 12.1 21.0 20.9 20.8 18.2 16.4 14.5 -17.2 6.3 20.7 2.4 2.370 .. short term 1.7 0.9 0.5 0.7 0.9 0.8 1.4 1.5 1.2 1.1 1.0 0.8 0.8 0.0 0.0 0.7 0.0 0.071 .. long term 12.3 8.0 6.7 6.5 7.7 9.6 10.7 19.5 19.7 19.7 17.1 15.5 13.8 -17.2 6.2 20.0 2.4 2.372 Intergovernmental lending (asset)* : : : : 0.0 0.2 0.8 2.4 2.9 2.9 2.7 2.6 2.5 : : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : : :

74=45+46+48a Government liquid assets 6.2 8.8 8.8 12.2 13.7 10.9 8.6 8.6 8.5 9.0 8.3 7.4 8.2 : : : :


77=20+18-76 Net savings and capital transfers -4.7 0.6 3.3 -1.8 -8.0 -7.1 -8.4 -10.6 -7.4 -6.4 -5.2 -4.9 -3.5 -2.1 -0.5 0.6 -1.578 GDP



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Government revenue and expenditure1=2+6+7+8+9 8.0 6.4 9.3 10.5 10.9 8.5 -7.4 -8.3 4.3 -1.1 1.0 1.1 2.0 3.0 1.5 4.8

2=3+4+5 9.4 6.6 11.6 13.2 12.1 9.1 -14.3 -13.7 8.6 -1.4 3.0 3.0 2.5 5.2 1.6 5.23 6.6 10.5 11.3 11.8 8.7 0.7 -13.2 -14.7 19.7 -3.5 1.9 6.0 4.0 6.6 1.6 4.44 12.4 2.1 11.8 14.5 15.9 17.9 -15.4 -12.8 -1.0 1.3 4.3 -1.1 0.4 3.4 1.6 6.95 9.5 13.2 15.6 19.8 12.6 10.1 -9.4 -11.0 -1.9 -8.0 -0.4 31.3 11.2 11.8 1.5 -10.66 6.6 7.5 6.9 7.6 8.2 7.3 4.1 -1.6 -0.8 -0.6 -4.3 -2.8 1.4 1.7 2.8 5.27 9.9 7.0 6.7 10.2 12.8 10.3 8.4 6.1 0.8 -1.7 7.5 -0.4 0.9 -0.2 2.4 0.08 -5.5 -2.7 -3.7 3.1 21.0 20.3 2.5 3.1 -4.8 3.4 -1.1 3.0 -7.3 -12.3 0.6 -4.49 46.2 0.8 24.1 -22.3 -16.4 -87.4 -699.3 131.7 -16.8 24.2 -47.1 -45.0 -124.5 46.4 -404.0 -71.8

10=11+..+18 7.6 6.3 8.4 7.0 8.2 9.3 8.9 7.5 -0.2 -0.5 2.0 -6.6 -0.4 1.6 -0.1 1.311 10.0 10.6 12.5 11.7 9.1 15.0 9.2 3.1 0.0 0.4 -4.4 -6.6 0.8 4.1 -0.4 2.812 5.8 7.9 7.2 7.4 8.1 9.6 10.0 6.3 -0.5 -1.8 -7.1 0.7 0.4 3.6 1.8 1.313 -4.8 -6.2 -7.4 -5.2 -0.7 4.9 2.3 6.3 10.3 30.0 17.5 15.2 1.1 -7.7 -5.8 -4.914 11.2 6.3 2.5 9.9 7.2 13.7 4.3 0.6 -1.1 -1.5 -18.2 8.6 5.3 8.4 -8.5 7.615 8.6 6.3 8.6 7.6 7.9 7.0 10.7 12.5 4.0 0.2 1.3 0.9 -0.1 0.0 2.2 2.2

15a 7.9 6.8 7.7 7.0 7.0 8.7 10.6 13.1 4.9 0.8 2.7 1.3 0.2 -0.3 2.1 2.116 6.1 13.6 3.1 13.7 11.9 -1.3 15.2 5.2 -11.3 7.3 -12.2 4.7 -3.7 -5.5 6.0 -7.317 10.0 -4.5 50.5 -20.1 13.8 -2.8 -0.8 -8.2 -18.6 31.8 245.0 -76.6 -20.5 -14.4 7.9 -12.618 14.1 6.7 5.7 13.0 9.6 18.8 4.9 6.5 -8.3 -21.9 -34.6 -10.7 -2.8 20.9 -19.8 5.719 15.1 9.2 3.2 13.9 12.2 15.1 2.6 7.1 -8.1 -21.8 -34.7 -10.9 -3.3 21.5 -20.0 6.1

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 7.3 -2.9 7.4 13.2 15.6 9.2 5.2 8.9 -5.0 -0.4 5.4 -2.9 1.3 -4.1 -3.2 3.3

24 15.0 -6.7 10.6 17.7 17.6 13.7 0.8 17.5 -20.6 -18.5 9.2 -28.0 15.4 1.8 -7.2 17.225 -23.0 -0.8 267.9 336.3 171.3 36.9 44.7 -15.7 -19.4 -36.1 -62.4 -257.5 -36.8 -44.8 -9.7 -25.326 12.1 10.1 13.5 4.8 13.7 12.2 14.0 38.9 23.8 34.2 17.9 5.7 1.3 -4.1 -2.1 -1.327 -3.2 0.4 -0.8 0.8 0.3 0.6 1.0 0.4 9.2 -0.5 2.7 8.1 -1.1 -2.5 -0.6 -1.028 14.1 -6.3 12.5 18.4 17.4 3.3 -1.3 11.1 -1.1 30.4 13.0 18.6 -0.7 -9.7 -4.8 3.6

29=30+..+33 3.2 -0.3 2.6 2.3 2.0 0.3 14.0 27.2 12.9 14.1 15.1 6.4 6.2 3.4 3.0 3.730 49.9 8.1 10.2 10.0 9.5 7.9 3.4 1.4 3.3 2.8 -0.1 0.4 4.1 5.4 4.7 5.131 1.8 -0.4 0.5 1.1 -0.8 -2.4 13.5 32.0 12.2 14.0 10.3 14.1 8.2 6.4 5.4 5.432 1.3 1.5 13.4 0.0 0.6 1.1 19.4 15.6 20.2 15.0 67.8 -12.7 0.9 -9.3 -6.7 -7.633 22.5 -4.1 6.1 20.8 30.6 17.4 11.2 14.4 8.5 14.1 -26.8 -9.6 -1.8 -0.1 -5.3 9.4


35=44(t)-44(t-1)-23 -0.3 1.7 2.7 8.4 3.4 1.6 0.1 0.5 2.0 8.4 3.9 8.9 1.6 3.4 2.2 0.136=50(t)-50(t-1)-29 1.6 -1.2 0.8 0.5 -3.0 -2.1 2.6 -0.2 -5.0 1.4 0.2 6.3 7.2 -1.0 0.6 -1.2

37=35-36 = 55(t)-55(t-1)-22 2.6 -2.7 -0.2 -4.1 -7.9 -6.3 6.2 -1.0 -10.9 -3.5 -2.1 4.8 10.1 -3.0 -0.1 -1.7

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 7.0 -1.2 10.1 21.6 19.0 10.8 5.4 9.4 -3.0 8.0 9.3 6.0 2.9 -0.7 -0.9 3.445 15.0 -6.7 10.6 17.7 17.6 13.7 0.8 17.5 -20.6 -18.5 9.2 -14.1 15.4 1.8 -7.2 17.246 -23.0 -2.3 294.8 348.5 172.3 36.9 50.6 -18.5 -20.3 -35.6 -66.0 185.0 -39.1 -54.9 -22.6 -8.547 12.1 10.1 7.8 8.7 11.1 10.3 14.9 38.5 26.9 34.4 18.4 8.3 1.9 -3.7 -1.9 -2.048 -4.3 4.8 7.2 22.5 9.9 5.8 -0.4 3.3 15.3 23.6 13.0 4.8 2.8 6.3 4.7 -0.9

48a -20.4 -22.1 -6.8 19.7 75.4 -52.7 -46.3 -1.949 14.8 -5.6 13.0 18.4 17.4 3.3 -1.4 11.0 -1.0 30.4 12.8 20.7 -0.7 -9.7 -4.8 3.6

50=51+..+54 4.8 -1.5 3.5 2.8 -1.0 -1.9 16.6 27.0 7.9 15.5 15.4 12.7 13.3 2.3 3.7 2.651 -15.4 8.1 10.2 10.0 9.5 7.9 3.4 1.4 3.3 2.8 -0.1 0.4 4.1 5.4 4.7 5.152 3.9 -1.8 1.6 1.5 -4.5 -5.1 17.1 31.6 5.7 15.6 10.7 19.6 17.9 5.2 6.2 4.053 0.7 1.4 13.3 0.0 0.6 0.7 19.3 15.6 20.2 15.7 67.7 -1.7 0.9 -9.2 -6.6 -7.654 29.6 -4.0 5.1 23.3 28.8 16.7 11.4 15.5 7.1 15.2 -27.5 -9.4 -3.0 -1.9 -5.6 9.4

55=44-50 3.7 -1.7 0.0 -8.1 -16.3 -15.7 32.8 47.0 17.1 20.8 19.2 16.6 18.8 3.7 5.7 2.356=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -0.8 -0.8 -0.1 2.9 5.6 5.3 -12.8 -26.8 -17.8 -15.9 -14.6 -8.0 -6.3 -5.5 -4.7 -3.2

58=64(t)-64(t-1) 1.4 -0.4 1.9 0.9 -0.3 -1.9 14.5 29.3 14.1 14.5 19.8 9.8 6.4 3.1 3.1 3.459 = 57+58 = 60+..+63 0.6 -1.1 1.8 3.8 5.3 3.4 1.7 2.4 -3.7 -1.4 5.1 1.8 0.1 -2.4 -1.6 0.1

60=23 2.8 -1.1 2.9 5.6 8.0 5.6 3.6 5.7 -2.7 -0.2 2.3 -1.1 0.5 -1.5 -1.1 1.1

61=(-)33 -1.4 0.3 -0.4 -1.8 -2.8 -2.1 -1.7 -2.2 -0.9 -1.8 3.3 0.7 0.2 0.1 0.3 -0.5

62 -0.8 -0.3 -0.7 -0.2 0.2 0.0 -0.3 -1.2 0.1 0.5 -0.4 2.2 -0.5 -0.9 -0.7 -0.6

63 0.0 0.0 -0.1 0.2 -0.2 -0.1 0.0 0.2 -0.2 0.1 0.0 0.0 -0.1 -0.1 0.0 0.064=65+66+69 1.4 -0.4 1.9 0.9 -0.3 -1.9 14.5 29.3 14.1 14.5 19.8 9.8 6.4 3.1 3.1 3.4

65 -15.4 8.1 10.2 10.0 9.5 7.9 3.4 1.4 3.3 2.8 -0.1 0.4 4.1 5.4 4.7 5.166=67+68 1.6 -0.7 -0.3 1.0 -0.6 -2.5 13.6 32.6 13.0 14.3 9.7 13.6 8.0 6.3 5.3 5.5

67 18.8 6.2 -8.4 -27.1 2.9 125.1 101.6 62.9 -20.2 7.6 -18.3 30.4 -1.7 4.1 2.0 -8.268 0.9 -1.1 0.1 2.5 -0.7 -7.4 5.6 27.3 20.5 15.3 13.6 12.0 9.1 6.5 5.6 6.9

69=70+71 0.7 1.4 13.3 0.0 0.6 0.7 19.3 15.6 20.2 15.7 67.7 -1.7 0.9 -9.2 -6.6 -7.670 -11.5 8.2 0.7 -30.3 6.4 1.4 64.1 20.8 -13.7 80.5 -0.6 -20.2 -3.8 -3.3 -15.6 -6.871 2.3 0.6 14.9 3.3 0.1 0.6 15.8 15.0 24.2 10.5 76.8 -0.3 1.1 -9.5 -6.0 -7.672 : : : : : : : : 235.6 181.5 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a 14.7 -6.7 12.2 24.6 29.2 17.4 10.0 8.8 -20.5 -21.7 -2.6 -3.2 6.9 -3.7 -8.0 16.3

Table C - Memorandum items75 7.5 8.1 9.7 9.0 8.6 9.2 9.7 5.5 0.3 -0.9 -6.6 -1.7 0.1 3.4 1.1 2.176 7.4 8.1 9.4 9.7 9.4 7.5 6.8 2.9 6.5 2.2 2.0 -0.2 -0.2 -0.6 0.2 1.5

77=20+18-7678 7.1 7.2 7.2 8.0 8.3 7.2 3.3 -3.3 0.2 -1.0 -2.9 -1.4 1.2 4.2 3.5 4.3

79 1.5 2.8 1.8 1.9 2.1 2.1 2.5 1.5 1.0 -0.1 -2.4 -0.6 -0.4 0.7 0.8 2.0



France



Government revenue and expenditure1=2+6+7+8+9 Total revenue 605,484 744,229 881,866 996,839 967,767 997,546 1,052,566 1,088,816

2=3+4+5 Taxes 292,508 409,063 477,982 537,921 503,164 524,267 561,843 588,7403 . Indirect taxes 190,455 227,513 269,455 293,318 289,318 293,445 310,735 319,6134 . Direct taxes 97,792 174,643 199,521 236,709 206,384 223,084 240,770 259,5115 . Capital taxes 4,261 6,907 9,006 7,894 7,462 7,738 10,338 9,6166 Social contributions 242,467 257,751 312,240 350,663 354,283 361,844 376,155 387,1177 Sales (incl . own account capital formation) 42,877 52,760 62,676 71,262 74,020 76,498 78,305 79,7508 Other current revenue 28,369 26,126 30,570 40,715 38,657 38,866 40,266 37,4189 Capital revenue -737 -1,471 -1,602 -3,722 -2,357 -3,929 -4,003 -4,209

10=11+..+18 Total expenditure 667,721 763,723 941,123 1,061,865 1,106,701 1,134,956 1,158,670 1,192,85911 Intermediate consumption 62,697 71,134 86,707 93,061 99,057 102,492 104,161 107,25212 Compensation of employees 161,347 191,039 226,730 246,621 254,107 259,844 263,634 268,49213 Interest 42,023 43,262 47,712 57,332 49,250 50,427 55,704 54,68414 Subsidies 18,135 20,362 24,013 29,051 34,500 36,411 34,734 36,28915 Social benefits 271,942 319,611 405,646 461,307 485,875 501,095 515,457 532,702


Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 5,868 -6,797 3,832 760 3,198 -3,103 -2,870

22=23-29 Net financial transactions : -25,362 -52,459 -68,858 -139,694 -140,608 -103,001 -101,17323=24+..+28 Net acquisition of financial assets : 7,016 19,980 48,807 111,999 -25,677 6,449 9,636

24 Currency and deposits : -6,205 -1,999 16,665 16,289 -17,935 16,576 -3,90825 Debt securities : 544 1,690 13,392 -6,147 966 -4,637 -7,38926 Loans : 95 -4,034 8,525 71,510 -11,007 -11,381 -3,23727 Shares and other equity : 9,556 9,678 5,489 12,492 -8,260 -4,227 19,02228 Other financial assets : 3,029 14,643 4,733 17,855 10,557 10,117 5,148

29=30+..+33 Net incurrence of liabilities : 32,378 72,439 117,665 251,693 114,931 109,450 110,80930 Currency and deposits : -8,929 461 3,528 -2,565 2,275 6,965 4,42831 Debt securities : 31,060 62,799 109,984 228,104 82,985 108,216 52,68632 Loans : -454 4,074 307 18,919 16,308 -8,518 35,45233 Other liabilities : 10,703 5,104 3,844 7,234 13,364 2,787 18,243

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : -928 102,508 -122,542 -43,062 64,676 -5,024 -82,578

35=44(t)-44(t-1)-23 Other changes in financial assets : -19,161 66,280 -104,296 4,779 18,458 -18,904 5,70136=50(t)-50(t-1)-29 Other changes in liabilities : 1,597 4,614 51,258 -6,711 10,166 12,123 90,640

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -20,758 61,666 -155,554 11,490 8,292 -31,027 -84,939

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : -21,686 164,174 -278,096 -31,572 72,968 -36,051 -167,517

Government balance sheet 39=40+44 Total assets : 323,122 788,665 919,660 845,937 1,003,793 1,095,467 1,086,171

40=41+42+43 Non-financial assets 740,338 912,092 1,513,277 1,713,667 1,756,722 1,907,359 1,986,578 1,992,61941 Fixed assets 619,790 702,391 880,212 1,028,071 1,051,117 1,097,493 1,141,293 1,169,05642 Other produced assets 22,537 15,577 13,550 16,817 14,707 15,913 16,393 20,10743 Non-produced assets 98,011 194,124 619,515 668,779 690,898 793,953 828,892 803,456

44=45+..+49 Financial assets : 588,970 724,612 794,007 910,785 903,566 891,111 906,44845 Currency and deposits : 30,544 56,396 43,188 59,510 42,048 58,632 54,81046 Debt securities : 28,893 24,353 50,536 44,409 45,257 40,634 35,16847 Loans : 77,410 70,220 72,343 140,102 131,514 121,441 116,13948 Shares and other equity : 287,225 383,200 412,870 439,586 447,277 420,750 444,045


50=51+..+54 Liabilities : 1,070,927 1,450,553 1,645,121 1,890,103 2,015,200 2,136,773 2,338,22251 Currency and deposits : 37,040 16,027 28,384 25,819 27,885 36,058 40,83152 Debt securities : 706,057 1,075,722 1,206,168 1,433,529 1,530,886 1,650,393 1,793,62153 Loans : 173,915 192,127 210,865 229,784 245,885 236,917 271,32154 Other liabilities : 153,915 166,678 199,704 200,971 210,542 213,405 232,448

55=44-50 Financial net worth : -481,957 -725,941 -851,114 -979,318 -1,111,634 -1,245,662 -1,431,77456=39-50=40+55 Net worth : -747,805 -661,888 -725,461 -1,044,166 -1,011,407 -1,041,306 -1,252,051


58=64(t)-64(t-1) Change in Government Debt : : 66,304 117,459 237,659 93,139 106,835 84,54459 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 7,048 52,433 98,725 -44,271 731 -19,499




63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : 870,626 1,189,919 1,370,326 1,607,985 1,701,124 1,807,959 1,892,503

65 . Currency and deposits : 37,040 16,027 28,319 25,966 28,036 36,008 40,79266=67+68 . Debt securities : 661,050 983,427 1,132,917 1,353,898 1,429,057 1,536,727 1,582,198

67 .. short term : 39,399 108,132 154,392 233,854 212,262 227,245 192,77168 .. long term : 621,651 875,295 978,525 1,120,044 1,216,795 1,309,483 1,389,427








France



Government revenue and expenditure1=2+6+7+8+9 1,125,153 1,146,017 1,168,959 1,184,844 1,232,660 -91,202 463,829 256,201 603,832

2=3+4+5 611,475 621,488 638,242 648,356 680,960 370,183 134,595 176,1823 328,769 337,061 347,527 355,991 372,288 199,401 114,965 57,9224 272,250 274,052 278,398 280,003 294,464 156,574 19,630 118,2605 10,456 10,375 12,317 12,362 14,208 14,208 0 06 398,881 408,802 413,030 418,089 431,315 49,418 845 381,0527 81,656 82,772 84,270 84,551 85,572 25,529 40,226 19,8178 37,393 37,377 37,809 38,711 38,791 -81,472 19,832 70,287 30,1449 -4,252 -4,422 -4,392 -4,863 -3,978 -9,730 -1,133 10,248 -3,363

10=11+..+18 1,211,621 1,229,958 1,248,656 1,263,933 1,294,015 -91,202 532,282 255,365 597,57011 109,755 109,564 111,369 111,400 111,722 34,686 49,578 27,45812 273,113 278,502 281,301 283,919 290,134 142,222 81,536 66,37613 48,874 46,442 43,809 41,982 42,673 -111 35,088 3,321 4,37514 36,437 47,201 56,094 55,931 58,837 44,928 13,893 1615 547,948 560,174 569,228 579,394 591,341 106,934 26,223 458,184

15a 420,527 429,065 435,992 443,466 451,967 82,170 16,602 353,19516 84,699 82,714 84,043 90,080 88,880 -81,361 107,994 27,342 34,90517 23,017 22,807 25,503 23,589 30,673 -9,730 33,074 7,882 -55318 87,778 82,554 77,309 77,638 79,755 27,356 45,590 6,80919 84,295 79,638 74,879 75,116 77,460 27,377 43,262 6,821

Government deficit

20=1-10 -86,468 -83,941 -79,697 -79,089 -61,355 -68,453 836 6,262


21=20-22 -1,956 -2,198 46 -180 2,688 2,566 -180 301

22=23-29 -84,512 -81,743 -79,743 -78,909 -64,043 -71,019 1,016 5,96123=24+..+28 2,342 -10,937 12,807 2,275 30,211 -2,512 13,546 6,094 13,083

24 -8,986 -2,554 11,046 -5,195 15,115 -3,061 10,817 3,219 4,14025 2,062 6,298 -6,405 5,992 -3,997 1,828 -1,527 -14 -4,28426 7,349 -23,709 -3,234 -1,933 -1,961 11 -1,834 -34 -10427 -6,849 -3,914 2,496 8,188 2,222 0 -1,651 511 3,36228 8,765 12,941 8,903 -4,777 18,832 -1,288 7,739 2,413 9,968

29=30+..+33 86,854 70,806 92,550 81,184 94,254 -2,511 84,565 5,078 7,12230 -1,526 -1,210 1,114 -2,226 541 -3,062 3,603 0 031 72,684 54,466 73,565 72,649 76,648 1,827 69,312 1,228 4,28132 11,382 11,409 3,336 -2,922 -5,863 11 -1,030 -43 -4,80133 4,315 6,140 14,536 13,686 22,926 -1,288 12,678 3,894 7,642

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 -102,809 -127,036 -86,999 -37,000 -15,391 : : :

35=44(t)-44(t-1)-23 40,363 25,918 -18,031 -3,248 23,931 103 19,412 783 3,63336=50(t)-50(t-1)-29 -43,874 131,050 -18,559 59,174 -42,233 101 -32,174 -79 -10,081

37=35-36 = 55(t)-55(t-1)-22 84,237 -105,132 528 -62,422 66,164 51,586 862 13,714

38=34+37 = 56(t)-56(t-1)-77+21 -18,572 -232,168 -86,471 -99,422 50,773 : : :

Government balance sheet 39=40+44 1,028,435 968,972 964,506 1,006,117 1,016,339 1,016,339 : : :

40=41+42+43 1,977,588 1,933,106 1,923,416 1,964,054 2,028,418 : : :41 1,180,287 1,168,498 1,153,208 1,164,977 1,191,717 : : :42 21,959 23,782 24,108 24,263 24,782 : : :43 775,342 740,826 746,100 774,814 811,919 : : :

44=45+..+49 949,153 964,134 958,910 957,937 1,012,079 -104,986 577,411 172,974 366,68045 46,155 39,413 50,394 47,710 62,717 -61,523 42,058 55,517 26,66546 36,204 46,288 38,860 46,066 41,193 -10,920 5,690 204 46,21947 123,407 99,629 94,296 80,892 79,397 -207 68,328 10,502 77448 474,617 500,513 488,514 500,319 529,909 1 334,052 50,182 145,674

48a 103,310 102,431 108,154 115,961 124,375 : : :49 268,770 278,291 286,845 282,951 298,863 -32,336 127,283 56,569 147,347

50=51+..+54 2,381,202 2,583,058 2,657,049 2,797,407 2,849,428 -104,987 2,345,664 253,295 355,45651 39,301 37,998 39,103 36,896 37,437 -61,524 98,961 0 052 1,806,823 1,991,330 2,038,799 2,181,952 2,217,020 -10,920 2,001,714 19,127 207,09953 286,857 298,311 301,729 289,288 283,428 -207 60,879 185,485 37,27154 248,221 255,420 277,418 289,271 311,542 -32,335 184,110 48,682 111,085

55=44-50 -1,432,049 -1,618,924 -1,698,139 -1,839,470 -1,837,349 -1,768,253 -80,321 11,22456=39-50=40+55 -1,352,767 -1,614,086 -1,692,543 -1,791,290 -1,833,089 : : :

Table B - Government debt and link with the deficit57=20 -86,468 -83,941 -79,697 -79,089 -61,355 -68,453 837 6,262

58=64(t)-64(t-1) 85,194 62,151 61,373 87,128 69,416 -1,224 69,595 1,333 -28859 = 57+58 = 60+..+63 -1,274 -21,790 -18,324 8,039 8,061 -1,225 1,142 2,170 5,974

60=23 : -10,937 12,806 2,273 30,211 -2,510 13,545 6,094 13,082

61=(-)33 : -6,191 -11,816 -14,936 -21,897 1,287 -12,365 -3,471 -7,348

62 : -2,511 -16,643 19,629 -1,908 0 -2,291 149 233

63 : -2,150 -2,674 1,073 1,657 -1 2,252 -602 764=65+66+69 1,977,697 2,039,848 2,101,221 2,188,349 2,257,765 -72,666 1,899,961 201,791 228,679

65 39,280 37,995 39,095 36,890 37,421 -61,334 98,755 0 066=67+68 1,653,450 1,705,535 1,762,334 1,863,984 1,938,539 -11,142 1,740,606 17,499 191,576

67 199,838 197,294 180,125 171,124 170,569 -2,450 128,334 1,417 43,26868 1,453,613 1,508,242 1,582,210 1,692,859 1,767,970 -8,691 1,612,272 16,081 148,308

69=70+71 284,966 296,318 299,792 287,474 281,804 -191 60,600 184,292 37,10370 8,039 11,258 12,616 11,533 6,955 0 498 1,726 4,73171 276,928 285,060 287,176 275,941 274,849 -191 60,102 182,566 32,37272 50,266 52,362 49,976 49,976 49,976 : : :73 0 0 0 0 0 : : :

74=45+46+48a 185,669 188,132 197,408 209,737 228,285 : : :

Table C - Memorandum items75 510,490 518,650 523,400 529,445 540,149 206,857 141,502 191,79076 74,244 74,843 74,118 74,954 76,581 28,243 40,671 7,667

77=20+18-76 -72,934 -76,230 -76,506 -76,405 -58,181 -69,340 5,755 5,40478 2,117,190 2,149,765 2,198,432 2,228,568 2,291,705

79 5,997 6,055 6,074 6,093 6,108

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


France




2=3+4+5 Taxes 24.0 27.7 27.1 27.0 26.0 26.3 27.3 28.2 28.9 28.9 29.0 29.1 29.7 16.2 5.9 7.73 . Indirect taxes 15.6 15.4 15.3 14.7 14.9 14.7 15.1 15.3 15.5 15.7 15.8 16.0 16.2 8.7 5.0 2.54 . Direct taxes 8.0 11.8 11.3 11.9 10.7 11.2 11.7 12.4 12.9 12.7 12.7 12.6 12.8 6.8 0.9 5.25 . Capital taxes 0.3 0.5 0.5 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.0 0.06 Social contributions 19.9 17.4 17.7 17.6 18.3 18.1 18.3 18.5 18.8 19.0 18.8 18.8 18.8 2.2 0.0 16.67 Sales (incl. own account capital formation) 3.5 3.6 3.5 3.6 3.8 3.8 3.8 3.8 3.9 3.9 3.8 3.8 3.7 1.1 1.8 0.98 Other current revenue 2.3 1.8 1.7 2.0 2.0 1.9 2.0 1.8 1.8 1.7 1.7 1.7 1.7 -3.6 0.9 3.1 1.39 Capital revenue -0.1 -0.1 -0.1 -0.2 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.4 0.0 0.4 -0.1



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -5.1 -1.3 -3.4 -3.3 -7.2 -6.9 -5.2 -5.0 -4.1 -3.9 -3.6 -3.5 -2.7 -3.0 0.0 0.3


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.4 -0.4 0.2 0.0 0.2 -0.2 -0.1 -0.1 -0.1 0.0 0.0 0.1 0.1 0.0 0.0

22=23-29 Net financial transactions : -1.7 -3.0 -3.5 -7.2 -7.0 -5.0 -4.8 -4.0 -3.8 -3.6 -3.5 -2.8 -3.1 0.0 0.323=24+..+28 Net acquisition of financial assets : 0.5 1.1 2.4 5.8 -1.3 0.3 0.5 0.1 -0.5 0.6 0.1 1.3 -0.1 0.6 0.3 0.6

24 Currency and deposits : -0.4 -0.1 0.8 0.8 -0.9 0.8 -0.2 -0.4 -0.1 0.5 -0.2 0.7 -0.1 0.5 0.1 0.225 Debt securities : 0.0 0.1 0.7 -0.3 0.0 -0.2 -0.4 0.1 0.3 -0.3 0.3 -0.2 0.1 -0.1 0.0 -0.226 Loans : 0.0 -0.2 0.4 3.7 -0.6 -0.6 -0.2 0.3 -1.1 -0.1 -0.1 -0.1 0.0 -0.1 0.0 0.027 Shares and other equity : 0.6 0.5 0.3 0.6 -0.4 -0.2 0.9 -0.3 -0.2 0.1 0.4 0.1 0.0 -0.1 0.0 0.128 Other financial assets : 0.2 0.8 0.2 0.9 0.5 0.5 0.2 0.4 0.6 0.4 -0.2 0.8 -0.1 0.3 0.1 0.4

29=30+..+33 Net incurrence of liabilities : 2.2 4.1 5.9 13.0 5.8 5.3 5.3 4.1 3.3 4.2 3.6 4.1 -0.1 3.7 0.2 0.330 Currency and deposits : -0.6 0.0 0.2 -0.1 0.1 0.3 0.2 -0.1 -0.1 0.1 -0.1 0.0 -0.1 0.2 0.0 0.031 Debt securities : 2.1 3.6 5.5 11.8 4.2 5.3 2.5 3.4 2.5 3.3 3.3 3.3 0.1 3.0 0.1 0.232 Loans : 0.0 0.2 0.0 1.0 0.8 -0.4 1.7 0.5 0.5 0.2 -0.1 -0.3 0.0 0.0 0.0 -0.233 Other liabilities : 0.7 0.3 0.2 0.4 0.7 0.1 0.9 0.2 0.3 0.7 0.6 1.0 -0.1 0.6 0.2 0.3

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76 Other changes in non-financial assets : -0.1 5.8 -6.2 -2.2 3.2 -0.2 -4.0 -4.9 -5.9 -4.0 -1.7 -0.7 : : :

35=44(t)-44(t-1)-23 Other changes in financial assets : -1.3 3.8 -5.2 0.2 0.9 -0.9 0.3 1.9 1.2 -0.8 -0.1 1.0 0.0 0.8 0.0 0.236=50(t)-50(t-1)-29 Other changes in liabilities : 0.1 0.3 2.6 -0.3 0.5 0.6 4.3 -2.1 6.1 -0.8 2.7 -1.8 0.0 -1.4 0.0 -0.4

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -1.4 3.5 -7.8 0.6 0.4 -1.5 -4.1 4.0 -4.9 0.0 -2.8 2.9 2.3 0.0 0.6

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities : -1.5 9.3 -14.0 -1.6 3.7 -1.8 -8.0 -0.9 -10.8 -3.9 -4.5 2.2 : : :

Government balance sheet 39=40+44 Total assets : 21.9 44.7 46.2 43.7 50.3 53.2 52.0 48.6 45.1 43.9 45.1 44.3 44.3 : : :

40=41+42+43 Non-financial assets 60.8 61.7 85.7 86.0 90.7 95.6 96.5 95.4 93.4 89.9 87.5 88.1 88.5 : : :41 Fixed assets 50.9 47.5 49.8 51.6 54.3 55.0 55.4 56.0 55.7 54.4 52.5 52.3 52.0 : : :42 Other produced assets 1.8 1.1 0.8 0.8 0.8 0.8 0.8 1.0 1.0 1.1 1.1 1.1 1.1 : : :43 Non-produced assets 8.0 13.1 35.1 33.6 35.7 39.8 40.3 38.5 36.6 34.5 33.9 34.8 35.4 : : :

44=45+..+49 Financial assets : 39.8 41.0 39.9 47.0 45.3 43.3 43.4 44.8 44.8 43.6 43.0 44.2 -4.6 25.2 7.5 16.045 Currency and deposits : 2.1 3.2 2.2 3.1 2.1 2.8 2.6 2.2 1.8 2.3 2.1 2.7 -2.7 1.8 2.4 1.246 Debt securities : 2.0 1.4 2.5 2.3 2.3 2.0 1.7 1.7 2.2 1.8 2.1 1.8 -0.5 0.2 0.0 2.047 Loans : 5.2 4.0 3.6 7.2 6.6 5.9 5.6 5.8 4.6 4.3 3.6 3.5 0.0 3.0 0.5 0.048 Shares and other equity : 19.4 21.7 20.7 22.7 22.4 20.4 21.3 22.4 23.3 22.2 22.5 23.1 0.0 14.6 2.2 6.4


50=51+..+54 Liabilities : 72.4 82.1 82.6 97.6 101.0 103.8 111.9 112.5 120.2 120.9 125.5 124.3 -4.6 102.4 11.1 15.551 Currency and deposits : 2.5 0.9 1.4 1.3 1.4 1.8 2.0 1.9 1.8 1.8 1.7 1.6 -2.7 4.3 0.0 0.052 Debt securities : 47.8 60.9 60.5 74.0 76.7 80.2 85.9 85.3 92.6 92.7 97.9 96.7 -0.5 87.3 0.8 9.053 Loans : 11.8 10.9 10.6 11.9 12.3 11.5 13.0 13.5 13.9 13.7 13.0 12.4 0.0 2.7 8.1 1.654 Other liabilities : 10.4 9.4 10.0 10.4 10.6 10.4 11.1 11.7 11.9 12.6 13.0 13.6 -1.4 8.0 2.1 4.8

55=44-50 Financial net worth : -32.6 -41.1 -42.7 -50.6 -55.7 -60.5 -68.5 -67.6 -75.3 -77.2 -82.5 -80.2 -77.2 -3.5 0.556=39-50=40+55 Net worth : -50.6 -37.5 -36.4 -53.9 -50.7 -50.6 -59.9 -63.9 -75.1 -77.0 -80.4 -80.0 : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -5.1 -1.3 -3.4 -3.3 -7.2 -6.9 -5.2 -5.0 -4.1 -3.9 -3.6 -3.5 -2.7 -3.0 0.0 0.3

58=64(t)-64(t-1) Change in Government Debt : : 3.8 5.9 12.3 4.7 5.2 4.0 4.0 2.9 2.8 3.9 3.0 -0.1 3.0 0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.4 2.6 5.1 -2.2 0.0 -0.9 -0.1 -1.0 -0.8 0.4 0.4 -0.1 0.0 0.1 0.3

60=23 Net acquisition of financial assets : : : : : : : : : -0.5 0.6 0.1 1.3 -0.1 0.6 0.3 0.6

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.3 -0.5 -0.7 -1.0 0.1 -0.5 -0.2 -0.3

62Valuation effects and other changes in volume in government debt : : : : : : : : : -0.1 -0.8 0.9 -0.1 0.0 -0.1 0.0 0.0

63 Statistical discrepancies : : : : : : : : : -0.1 -0.1 0.0 0.1 0.0 0.1 0.0 0.064=65+66+69 Government debt (nominal / face value) : 58.9 67.4 68.8 83.0 85.3 87.8 90.6 93.4 94.9 95.6 98.2 98.5 -3.2 82.9 8.8 10.0


67 .. short term : 2.7 6.1 7.7 12.1 10.6 11.0 9.2 9.4 9.2 8.2 7.7 7.4 -0.1 5.6 0.1 1.968 .. long term : 42.0 49.6 49.1 57.8 61.0 63.6 66.5 68.7 70.2 72.0 76.0 77.1 -0.4 70.4 0.7 6.5




77=20+18-76 Net savings and capital transfers -4.1 -0.3 -2.3 -2.4 -6.1 -6.0 -4.5 -4.2 -3.4 -3.5 -3.5 -3.4 -2.5 -3.0 0.3 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


France




2=3+4+5 0.1 1.2 6.0 5.1 5.9 3.9 2.2 -6.5 4.2 7.2 4.8 3.9 1.6 2.7 1.6 5.03 3.4 2.3 5.8 4.6 3.8 3.7 1.1 -1.4 1.4 5.9 2.9 2.9 2.5 3.1 2.4 4.64 -3.9 -0.2 5.8 5.8 9.3 4.1 4.3 -12.8 8.1 7.9 7.8 4.9 0.7 1.6 0.6 5.25 -2.2 3.1 16.8 4.6 -7.3 6.8 -11.4 -5.5 3.7 33.6 -7.0 8.7 -0.8 18.7 0.4 14.96 3.8 4.3 3.1 4.4 5.3 3.8 2.8 1.0 2.1 4.0 2.9 3.0 2.5 1.0 1.2 3.27 3.1 1.0 5.1 4.7 4.0 5.1 4.0 3.9 3.3 2.4 1.8 2.4 1.4 1.8 0.3 1.28 1.0 -11.7 4.5 6.6 12.8 7.6 9.8 -5.1 0.5 3.6 -7.1 -0.1 0.0 1.2 2.4 0.29 -42.3 -64.3 35.3 166.1 63.4 36.9 3.9 -36.7 66.7 1.9 5.1 1.0 4.0 -0.7 10.7 -18.2

10=11+..+18 5.4 3.6 3.9 4.2 3.8 4.4 4.1 4.2 2.6 2.1 3.0 1.6 1.5 1.5 1.2 2.411 8.2 1.3 6.7 4.7 2.7 2.1 2.3 6.4 3.5 1.6 3.0 2.3 -0.2 1.6 0.0 0.312 4.6 3.5 2.4 3.4 2.7 3.3 2.5 3.0 2.3 1.5 1.8 1.7 2.0 1.0 0.9 2.213 2.2 -2.2 2.1 0.9 0.8 8.6 9.8 -14.1 2.4 10.5 -1.8 -10.6 -5.0 -5.7 -4.2 1.614 12.5 -0.3 -3.5 -0.4 4.5 7.1 8.1 18.8 5.5 -4.6 4.5 0.4 29.5 18.8 -0.3 5.215 5.5 5.0 4.8 4.3 4.9 4.6 3.6 5.3 3.1 2.9 3.3 2.9 2.2 1.6 1.8 2.1

15a 5.0 4.1 4.6 4.5 4.9 4.4 3.4 5.8 3.1 3.0 3.6 3.0 2.0 1.6 1.7 1.916 6.4 6.4 1.6 8.1 4.4 4.7 5.1 6.9 2.4 1.2 3.5 5.1 -2.3 1.6 7.2 -1.317 4.2 0.4 10.0 10.8 12.6 4.4 24.0 0.3 -3.9 5.2 5.9 -5.1 -0.9 11.8 -7.5 30.018 2.9 3.8 6.0 5.3 1.9 5.9 2.7 5.5 -0.2 -2.0 5.2 -0.9 -6.0 -6.4 0.4 2.719 1.0 6.3 6.2 4.8 2.5 5.5 2.6 4.8 0.6 -1.6 3.6 -0.3 -5.5 -6.0 0.3 3.1

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 4.6 6.8 -0.6 3.1 -4.0 1.8 5.7 14.1 -2.8 0.7 1.1 0.3 -1.2 1.3 0.2 3.2

24 52.4 33.0 7.6 -3.3 -54.7 3.5 62.8 37.7 -30.1 39.4 -6.7 -16.4 -5.5 28.0 -10.3 31.725 -16.7 -16.0 -6.8 7.5 29.1 17.7 36.8 -12.2 2.2 -10.2 -18.2 5.9 17.4 -13.8 15.4 -8.726 -1.5 4.5 1.5 -5.3 -6.2 -3.5 13.4 98.8 -7.9 -8.7 -2.7 6.3 -19.2 -3.2 -2.0 -2.427 1.4 7.8 2.5 3.2 -2.9 -0.1 1.1 3.0 -1.9 -0.9 4.5 -1.5 -0.8 0.5 1.7 0.428 8.4 3.7 -7.4 8.4 5.3 5.0 2.2 8.3 4.6 4.3 2.1 3.4 4.8 3.2 -1.7 6.7

29=30+..+33 6.9 8.6 4.3 5.3 1.2 4.7 8.0 15.3 6.1 5.4 5.2 3.7 3.0 3.6 3.1 3.430 -23.6 -26.9 -7.4 3.0 34.5 10.4 14.6 -9.0 8.8 25.0 12.3 -3.7 -3.1 2.9 -5.7 1.531 8.7 10.3 7.7 6.2 -0.5 3.7 10.5 18.9 5.8 7.1 3.2 4.1 3.0 3.7 3.6 3.532 1.7 8.8 -0.5 2.2 2.2 7.9 0.1 9.0 7.1 -3.5 15.0 4.2 4.0 1.1 -1.0 -2.033 10.0 4.6 -7.0 3.1 8.1 5.9 2.0 3.6 6.6 1.3 8.5 1.9 2.5 5.7 4.9 7.9

Other economic flows in government assets and liabilities34=40(t)-40(t-1)-18+76

35=44(t)-44(t-1)-23 -4.8 1.3 5.4 10.4 10.4 8.4 -12.3 0.6 2.0 -2.1 0.6 4.5 2.7 -1.9 -0.3 2.536=50(t)-50(t-1)-29 1.7 -0.5 2.2 0.3 -2.7 -1.4 3.5 -0.4 0.5 0.6 4.2 -1.9 5.5 -0.7 2.2 -1.5

37=35-36 = 55(t)-55(t-1)-22 8.4 -2.2 -0.8 -8.4 -15.8 -12.8 24.8 -1.3 -0.8 2.8 6.8 -5.9 7.3 0.0 3.7 -3.6

38=34+37 = 56(t)-56(t-1)-77+21

Government balance sheet 39=40+44 21.7 14.5 22.2 12.9 11.8 2.6 1.6 -8.0 18.7 9.1 -0.8 -5.3 -5.8 -0.5 4.3 1.0

40=41+42+43 9.0 11.1 13.2 13.2 9.2 6.2 -2.3 2.5 8.6 4.2 0.3 -0.8 -2.2 -0.5 2.1 3.341 3.8 4.8 5.2 5.7 6.0 6.6 3.3 2.2 4.4 4.0 2.4 1.0 -1.0 -1.3 1.0 2.342 3.0 -22.1 1.2 3.3 9.8 14.2 -1.0 -12.5 8.2 3.0 22.7 9.2 8.3 1.4 0.6 2.143 25.8 29.3 30.6 26.1 13.8 5.4 -10.0 3.3 14.9 4.4 -3.1 -3.5 -4.5 0.7 3.8 4.8

44=45+..+49 -0.2 8.1 4.8 13.5 6.4 10.2 -6.5 14.7 -0.8 -1.4 1.7 4.7 1.6 -0.5 -0.1 5.745 49.7 32.2 9.3 -5.8 -54.8 4.2 62.8 37.8 -29.3 39.4 -6.5 -15.8 -14.6 27.9 -5.3 31.546 -16.7 -7.7 -6.8 7.5 29.1 15.8 38.8 -12.1 1.9 -10.2 -13.5 2.9 27.9 -16.0 18.5 -10.647 -1.2 -1.8 1.5 -7.5 -6.2 -3.2 13.4 93.7 -6.1 -7.7 -4.4 6.3 -19.3 -5.4 -14.2 -1.848 -8.7 12.2 14.6 25.8 17.1 13.7 -19.1 6.5 1.7 -5.9 5.5 6.9 5.5 -2.4 2.4 5.9

48a 15.8 23.4 28.2 22.4 10.5 5.9 -12.9 25.5 2.1 -3.1 7.4 -0.2 -0.9 5.6 7.2 7.349 8.1 3.8 -7.4 8.7 4.7 6.5 1.3 5.6 4.5 5.1 2.7 4.9 3.5 3.1 -1.4 5.6

50=51+..+54 8.6 8.1 6.5 5.6 -1.5 3.3 11.4 14.9 6.6 6.0 9.4 1.8 8.5 2.9 5.3 1.951 -26.4 -26.9 -7.4 3.0 36.8 10.4 17.3 -9.0 8.0 29.3 13.2 -3.7 -3.3 2.9 -5.6 1.552 11.3 9.5 10.2 6.8 -4.2 1.6 15.2 18.8 6.8 7.8 8.7 0.7 10.2 2.4 7.0 1.653 1.6 9.0 2.0 2.2 1.5 8.0 0.1 9.0 7.0 -3.6 14.5 5.7 4.0 1.1 -4.1 -2.054 9.8 4.5 -6.8 2.6 8.6 7.4 2.7 0.6 4.8 1.4 8.9 6.8 2.9 8.6 4.3 7.7

55=44-50 17.8 8.0 8.0 -1.3 -9.4 -4.7 35.8 15.1 13.5 12.1 14.9 0.0 13.0 4.9 8.3 -0.156=39-50=40+55 0.7 3.4 -6.0 -1.9 -17.4 4.4 27.0 43.9 -3.1 3.0 20.2 8.0 19.3 4.9 5.8 2.3


58=64(t)-64(t-1) 6.6 9.8 7.0 5.9 0.4 4.9 9.4 17.3 5.8 6.3 4.7 4.5 3.1 3.0 4.1 3.259 = 57+58 = 60+..+63 1.0 2.9 1.1 0.6 -3.4 0.6 4.2 7.2 -2.8 0.0 -1.1 -0.1 -1.1 -0.9 0.4 0.4

60=23 : : : : : : : : : : : : -0.6 0.6 0.1 1.4

61=(-)33 : : : : : : : : : : : : -0.3 -0.6 -0.7 -1.0

62 : : : : : : : : : : : : -0.1 -0.8 0.9 -0.1

63 : : : : : : : : : : : : -0.1 -0.1 0.1 0.164=65+66+69 6.6 9.8 7.0 5.9 0.4 4.9 9.4 17.3 5.8 6.3 4.7 4.5 3.1 3.0 4.1 3.2

65 -26.4 -26.9 -7.4 3.0 36.6 10.2 17.4 -8.3 8.0 28.4 13.3 -3.7 -3.3 2.9 -5.6 1.466=67+68 9.3 11.0 8.3 6.7 -0.5 4.2 11.1 19.5 5.6 7.5 3.0 4.5 3.2 3.3 5.8 4.0

67 92.0 24.9 2.5 -2.3 -36.9 16.6 94.1 51.5 -9.2 7.1 -15.2 3.7 -1.3 -8.7 -5.0 -0.368 3.6 9.2 9.2 7.9 4.0 3.3 4.1 14.5 8.6 7.6 6.1 4.6 3.8 4.9 7.0 4.4

69=70+71 1.4 9.2 1.9 2.2 1.6 8.0 0.0 9.1 7.0 -3.6 14.6 5.7 4.0 1.2 -4.1 -2.070 24.0 170.6 -9.9 -3.0 -2.5 46.3 -36.2 43.3 40.4 -69.6 2.0 -12.6 40.0 12.1 -8.6 -39.771 0.6 2.3 3.2 2.8 1.9 4.6 4.6 6.5 3.6 5.5 15.1 6.4 2.9 0.7 -3.9 -0.472 : : : : : : : : 235.6 181.5 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a 14.8 19.2 13.4 8.4 -10.1 7.8 12.7 17.5 -7.2 4.8 -1.1 -4.0 1.3 4.9 6.2 8.8

Table C - Memorandum items75 5.9 4.6 4.1 3.7 3.3 3.5 3.2 3.7 2.6 2.1 2.4 2.0 1.6 0.9 1.2 2.076 2.4 3.9 4.6 4.6 5.3 5.0 6.0 2.3 3.3 4.3 3.1 1.6 0.8 -1.0 1.1 2.2

77=20+18-7678 3.2 2.7 4.5 3.6 4.7 5.0 2.6 -2.8 3.0 3.2 1.5 1.4 1.5 2.3 1.4 2.8

79 1.1 1.4 0.1 -0.2 0.4 0.7 0.1 0.3 0.2 -1.2 -0.7 0.6 1.0 0.3 0.3 0.2



Croatia



Government revenue and expenditure1=2+6+7+8+9 Total revenue : : 115,882 147,912 140,166 137,195 135,509 140,690

2=3+4+5 Taxes : : 66,623 87,187 80,500 79,530 78,630 80,8313 . Indirect taxes : : 50,042 62,535 56,896 57,821 57,306 59,8924 . Direct taxes : : 16,578 24,650 23,599 21,706 21,317 20,9315 . Capital taxes : : 2 3 4 3 7 76 Social contributions : : 31,301 40,703 39,995 38,712 38,605 37,8467 Sales (incl . own account capital formation) : : 9,802 12,035 11,743 11,938 11,663 12,1178 Other current revenue : : 8,081 7,731 7,495 6,089 5,567 7,1789 Capital revenue : : 74 255 434 925 1,044 2,718

10=11+..+18 Total expenditure : : 126,296 157,517 160,010 157,850 161,729 158,11011 Intermediate consumption : : 18,573 24,663 23,718 24,194 24,600 24,66512 Compensation of employees : : 30,298 38,727 40,692 39,918 40,251 39,68813 Interest : : 5,258 6,822 7,686 7,990 9,158 10,41414 Subsidies : : 6,551 8,768 8,361 8,099 8,034 7,43215 Social benefits : : 39,514 48,699 52,616 52,126 54,243 53,854

15a of which other than transfers in kind : : 33,857 42,343 45,379 45,317 47,416 46,50316 Other current expenditure : : 5,844 4,375 3,209 5,161 4,168 4,64817 Capital transfers payable : : 4,880 5,116 4,690 8,515 9,617 5,71018 Capital investments : : 15,378 20,346 19,039 11,847 11,659 11,69919 of which, gross fixed capital formation : : 15,378 20,346 19,039 11,847 11,659 11,699

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : : -10,414 -9,605 -19,844 -20,655 -26,220 -17,420


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -2,950 -2,195 -752 -1,415 -1,045 226

22=23-29 Net financial transactions : : -7,463 -7,409 -19,092 -19,240 -25,175 -17,64523=24+..+28 Net acquisition of financial assets : : 4,206 7,335 7,523 3,109 -4,118 1,979

24 Currency and deposits : : 2,078 6,291 6,143 2,390 -5,107 1,04125 Debt securities : : 0 -15 0 270 0 -7026 Loans : : 345 771 254 0 554 64327 Shares and other equity : : 82 -844 -90 -36 -156 23728 Other financial assets : : 1,701 1,131 1,215 485 591 129

29=30+..+33 Net incurrence of liabilities : : 11,669 14,744 26,614 22,349 21,057 19,62530 Currency and deposits : : 0 0 0 0 0 031 Debt securities : : 4,962 414 13,279 15,174 7,521 12,74332 Loans : : 6,699 10,779 13,365 7,995 14,006 3,73033 Other liabilities : : 8 3,552 -30 -820 -471 3,151


35=44(t)-44(t-1)-23 Other changes in financial assets : : 2,372 -14,490 -6,065 14,702 11,801 -3,87336=50(t)-50(t-1)-29 Other changes in liabilities : : -1,694 3,371 79 6,825 4,236 -6,507

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 4,066 -17,862 -6,143 7,877 7,565 2,633

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 123,627 152,286 153,744 171,555 179,238 177,34445 Currency and deposits : : 14,143 21,508 27,651 31,000 26,124 27,15046 Debt securities : : 16 0 0 270 270 20047 Loans : : 7,876 9,067 9,321 9,365 10,019 10,67148 Shares and other equity : : 79,139 83,001 76,847 86,850 96,330 93,971


50=51+..+54 Liabilities : : 139,473 174,441 201,133 230,307 255,600 268,71851 Currency and deposits : : 0 0 0 0 0 052 Debt securities : : 75,145 78,063 90,814 106,647 116,458 128,53853 Loans : : 37,570 58,463 70,288 83,768 99,528 103,74954 Other liabilities : : 26,758 37,914 40,031 39,893 39,614 36,430

55=44-50 Financial net worth : : -15,846 -22,155 -47,390 -58,753 -76,362 -91,37456=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : -10,414 -9,605 -19,844 -20,655 -26,220 -17,420

58=64(t)-64(t-1) Change in Government Debt : : 10,131 15,445 24,406 28,722 24,211 16,91259 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -283 5,840 4,562 8,067 -2,009 -508





65 . Currency and deposits : 0 0 0 0 0 0 066=67+68 . Debt securities : 44,404 73,788 77,529 90,146 105,349 113,913 126,705


69=70+71 . Loans : 19,579 37,240 57,960 69,749 83,268 98,915 103,03570 .. short term : 3,861 1,329 1,435 2,649 2,221 1,791 3,27471 .. long term : 15,718 35,911 56,524 67,100 81,046 97,124 99,76172 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : : 16,033 24,112 28,765 32,488 27,415 28,806

Table C - Memorandum items75 Government final consumption expenditure : : 49,439 64,170 67,195 66,648 67,452 67,01976 Consumption of fixed capital : : 4,713 6,459 7,291 7,665 7,437 7,432

77=20+18-76 Net savings and capital transfers : : 252 4,282 -8,096 -16,473 -21,998 -13,15378 GDP 117,105 180,241 269,779 347,750 331,367 329,143 333,457 330,825




Croatia




2=3+4+5 83,259 82,140 85,576 90,822 94,341 79,018 15,323 03 61,666 61,290 64,810 67,896 71,429 67,316 4,112 04 21,587 20,841 20,756 22,912 22,905 11,702 11,203 05 6 10 10 14 8 0 8 06 37,149 39,187 40,606 41,645 43,339 0 0 43,3397 12,459 12,099 14,067 14,932 14,862 9,837 4,436 5898 6,815 8,033 10,380 11,443 12,935 -46,422 17,089 20,778 21,4919 895 926 1,672 2,803 2,167 -1,116 2,021 1,261 0

10=11+..+18 158,094 159,419 163,989 164,920 164,487 -47,538 105,025 41,963 65,03611 25,684 26,714 27,096 28,006 28,676 16,230 12,200 24612 38,602 37,776 38,690 39,740 41,417 21,370 19,345 70213 10,599 11,427 11,801 10,817 9,764 -14 9,711 67 014 6,666 5,696 4,840 5,344 5,203 3,549 1,402 25215 54,865 56,046 57,742 56,026 57,188 5,098 1,619 50,471

15a 46,917 47,794 49,293 47,747 48,782 4,632 977 43,17316 5,625 4,671 7,081 7,436 7,648 -46,408 38,519 2,202 13,33517 3,726 5,266 5,515 5,951 4,620 -1,116 4,667 1,069 018 12,327 11,823 11,224 11,599 9,969 5,881 4,059 2919 12,327 11,823 10,979 11,303 9,932 5,670 4,233 29

Government deficit

20=1-10 -17,517 -17,033 -11,687 -3,275 3,158 2,940 -166 383


21=20-22 460 -766 -184 472 400 191 203 6

22=23-29 -17,977 -16,267 -11,503 -3,747 2,757 2,749 -369 37723=24+..+28 12,674 -602 -3,709 -2,780 2,201 202 1,634 531 -166

24 10,478 -2,320 -5,484 -4,824 969 0 664 359 -5425 0 0 -198 0 1 0 1 0 026 1,561 993 1,018 2,017 941 -102 1,109 -65 027 134 -344 -84 -231 -148 0 -115 -32 028 501 1,068 1,040 258 437 304 -25 269 -112

29=30+..+33 30,651 15,665 7,794 967 -557 202 -1,116 899 -54230 0 0 0 0 0 0 0 0 031 27,460 12,223 7,048 5,357 14,015 0 14,060 -45 032 7,465 -1,301 -2,463 -5,609 -11,401 -102 -11,302 3 -133 -4,274 4,744 3,210 1,219 -3,171 304 -3,873 941 -542


35=44(t)-44(t-1)-23 1,314 11,149 7,372 3,754 -8,028 1 -7,967 31 -9336=50(t)-50(t-1)-29 193 7,529 9,546 -192 -8,776 1 -8,739 -38 0

37=35-36 = 55(t)-55(t-1)-22 1,122 3,621 -2,173 3,947 748 772 69 -93

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 : : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 191,333 201,880 205,543 206,517 200,690 -7,860 156,889 28,146 23,51645 37,801 35,538 30,288 25,349 26,183 0 21,483 4,182 51846 200 200 2 1 1 0 1 0 047 12,294 13,285 14,039 16,021 16,817 -435 16,859 394 048 99,430 105,003 103,988 105,886 103,647 0 81,000 18,099 4,548

48a 1,416 1,834 1,860 2,196 2,097 : : :49 41,607 47,854 57,227 59,260 54,042 -7,425 37,546 5,471 18,450

50=51+..+54 299,561 322,755 340,095 340,869 331,537 -7,860 318,306 11,279 9,81251 0 0 0 0 0 0 0 0 052 155,091 174,363 187,413 193,654 200,195 0 200,195 0 053 112,314 111,400 109,200 102,502 89,801 -435 85,212 5,024 054 32,156 36,992 43,483 44,713 41,541 -7,425 32,898 6,256 9,811

55=44-50 -108,229 -120,875 -134,551 -134,352 -130,847 -161,417 16,866 13,70556=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -17,517 -17,033 -11,687 -3,275 3,158 2,940 -166 383

58=64(t)-64(t-1) 36,883 11,747 5,837 -2,464 1,576 -101 1,752 -75 -159 = 57+58 = 60+..+63 19,366 -5,287 -5,850 -5,739 4,733 -101 4,692 -241 383

60=23 : -603 -3,709 -2,780 2,283 202 1,717 530 -166

61=(-)33 : -4,743 -3,210 -1,219 3,088 -304 3,791 -941 542

62 : 826 1,252 -2,212 -1,038 1 -1,006 -34 0

63 : -766 -184 472 400 0 191 203 664=65+66+69 266,623 278,370 284,206 281,742 283,318 -433 278,777 4,974 0

65 0 0 0 0 0 0 0 0 066=67+68 155,025 167,716 175,734 179,872 194,034 0 194,034 0 0

67 20,417 20,513 15,431 12,768 12,780 0 12,780 0 068 134,608 147,203 160,303 167,104 181,253 0 181,253 0 0

69=70+71 111,597 110,654 108,472 101,870 89,284 -433 84,744 4,974 070 3,092 1,192 629 1,061 892 0 575 317 071 108,505 109,462 107,843 100,809 88,392 -433 84,169 4,656 072 0 0 0 0 0 : : :73 0 2 3 3 3 : : :

74=45+46+48a 39,417 37,573 32,150 27,546 28,281 : : :


77=20+18-76 -12,307 -12,766 -7,930 1,217 5,973 4,242 1,358 37378 331,785 331,570 339,616 351,349 365,643

79 : : : : :

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Government revenue and expenditure1=2+6+7+8+9 Total revenue : : 43.0 42.5 42.3 41.7 40.6 42.5 42.4 42.9 44.8 46.0 45.8 -13.0 29.5 11.4 17.9

2=3+4+5 Taxes : : 24.7 25.1 24.3 24.2 23.6 24.4 25.1 24.8 25.2 25.8 25.8 21.6 4.2 0.03 . Indirect taxes : : 18.5 18.0 17.2 17.6 17.2 18.1 18.6 18.5 19.1 19.3 19.5 18.4 1.1 0.04 . Direct taxes : : 6.1 7.1 7.1 6.6 6.4 6.3 6.5 6.3 6.1 6.5 6.3 3.2 3.1 0.05 . Capital taxes : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.06 Social contributions : : 11.6 11.7 12.1 11.8 11.6 11.4 11.2 11.8 12.0 11.9 11.9 0.0 0.0 11.97 Sales (incl. own account capital formation) : : 3.6 3.5 3.5 3.6 3.5 3.7 3.8 3.6 4.1 4.3 4.1 2.7 1.2 0.28 Other current revenue : : 3.0 2.2 2.3 1.9 1.7 2.2 2.1 2.4 3.1 3.3 3.5 -12.7 4.7 5.7 5.99 Capital revenue : : 0.0 0.1 0.1 0.3 0.3 0.8 0.3 0.3 0.5 0.8 0.6 -0.3 0.6 0.3 0.0

10=11+..+18 Total expenditure : : 46.8 45.3 48.3 48.0 48.5 47.8 47.6 48.1 48.3 46.9 45.0 -13.0 28.7 11.5 17.811 Intermediate consumption : : 6.9 7.1 7.2 7.4 7.4 7.5 7.7 8.1 8.0 8.0 7.8 4.4 3.3 0.112 Compensation of employees : : 11.2 11.1 12.3 12.1 12.1 12.0 11.6 11.4 11.4 11.3 11.3 5.8 5.3 0.213 Interest : : 1.9 2.0 2.3 2.4 2.7 3.1 3.2 3.4 3.5 3.1 2.7 0.0 2.7 0.0 0.014 Subsidies : : 2.4 2.5 2.5 2.5 2.4 2.2 2.0 1.7 1.4 1.5 1.4 1.0 0.4 0.115 Social benefits : : 14.6 14.0 15.9 15.8 16.3 16.3 16.5 16.9 17.0 15.9 15.6 1.4 0.4 13.8

15a of which other than transfers in kind : : 12.5 12.2 13.7 13.8 14.2 14.1 14.1 14.4 14.5 13.6 13.3 1.3 0.3 11.816 Other current expenditure : : 2.2 1.3 1.0 1.6 1.2 1.4 1.7 1.4 2.1 2.1 2.1 -12.7 10.5 0.6 3.617 Capital transfers payable : : 1.8 1.5 1.4 2.6 2.9 1.7 1.1 1.6 1.6 1.7 1.3 -0.3 1.3 0.3 0.018 Capital investments : : 5.7 5.9 5.7 3.6 3.5 3.5 3.7 3.6 3.3 3.3 2.7 1.6 1.1 0.019 of which, gross fixed capital formation : : 5.7 5.9 5.7 3.6 3.5 3.5 3.7 3.6 3.2 3.2 2.7 1.6 1.2 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : : -3.9 -2.8 -6.0 -6.3 -7.9 -5.3 -5.3 -5.1 -3.4 -0.9 0.9 0.8 0.0 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -1.1 -0.6 -0.2 -0.4 -0.3 0.1 0.1 -0.2 -0.1 0.1 0.1 0.1 0.1 0.0

22=23-29 Net financial transactions : : -2.8 -2.1 -5.8 -5.8 -7.5 -5.3 -5.4 -4.9 -3.4 -1.1 0.8 0.8 -0.1 0.123=24+..+28 Net acquisition of financial assets : : 1.6 2.1 2.3 0.9 -1.2 0.6 3.8 -0.2 -1.1 -0.8 0.6 0.1 0.4 0.1 0.0

24 Currency and deposits : : 0.8 1.8 1.9 0.7 -1.5 0.3 3.2 -0.7 -1.6 -1.4 0.3 0.0 0.2 0.1 0.025 Debt securities : : 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.026 Loans : : 0.1 0.2 0.1 0.0 0.2 0.2 0.5 0.3 0.3 0.6 0.3 0.0 0.3 0.0 0.027 Shares and other equity : : 0.0 -0.2 0.0 0.0 0.0 0.1 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.028 Other financial assets : : 0.6 0.3 0.4 0.1 0.2 0.0 0.2 0.3 0.3 0.1 0.1 0.1 0.0 0.1 0.0

29=30+..+33 Net incurrence of liabilities : : 4.3 4.2 8.0 6.8 6.3 5.9 9.2 4.7 2.3 0.3 -0.2 0.1 -0.3 0.2 -0.130 Currency and deposits : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities : : 1.8 0.1 4.0 4.6 2.3 3.9 8.3 3.7 2.1 1.5 3.8 0.0 3.8 0.0 0.032 Loans : : 2.5 3.1 4.0 2.4 4.2 1.1 2.3 -0.4 -0.7 -1.6 -3.1 0.0 -3.1 0.0 0.033 Other liabilities : : 0.0 1.0 0.0 -0.2 -0.1 1.0 -1.3 1.4 0.9 0.3 -0.9 0.1 -1.1 0.3 -0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : : 0.9 -4.2 -1.8 4.5 3.5 -1.2 0.4 3.4 2.2 1.1 -2.2 0.0 -2.2 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : : -0.6 1.0 0.0 2.1 1.3 -2.0 0.1 2.3 2.8 -0.1 -2.4 0.0 -2.4 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 1.5 -5.1 -1.9 2.4 2.3 0.8 0.3 1.1 -0.6 1.1 0.2 0.2 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 45.8 43.8 46.4 52.1 53.8 53.6 57.7 60.9 60.5 58.8 54.9 -2.1 42.9 7.7 6.445 Currency and deposits : : 5.2 6.2 8.3 9.4 7.8 8.2 11.4 10.7 8.9 7.2 7.2 0.0 5.9 1.1 0.146 Debt securities : : 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.047 Loans : : 2.9 2.6 2.8 2.8 3.0 3.2 3.7 4.0 4.1 4.6 4.6 -0.1 4.6 0.1 0.048 Shares and other equity : : 29.3 23.9 23.2 26.4 28.9 28.4 30.0 31.7 30.6 30.1 28.3 0.0 22.2 5.0 1.2

48a of which, Investment fund shares : : 0.7 0.7 0.3 0.4 0.3 0.4 0.4 0.6 0.5 0.6 0.6 : : :49 Other financial assets : : 8.3 11.1 12.0 13.4 13.9 13.7 12.5 14.4 16.9 16.9 14.8 -2.0 10.3 1.5 5.0

50=51+..+54 Liabilities : : 51.7 50.2 60.7 70.0 76.7 81.2 90.3 97.3 100.1 97.0 90.7 -2.1 87.1 3.1 2.751 Currency and deposits : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.052 Debt securities : : 27.9 22.4 27.4 32.4 34.9 38.9 46.7 52.6 55.2 55.1 54.8 0.0 54.8 0.0 0.053 Loans : : 13.9 16.8 21.2 25.5 29.8 31.4 33.9 33.6 32.2 29.2 24.6 -0.1 23.3 1.4 0.054 Other liabilities : : 9.9 10.9 12.1 12.1 11.9 11.0 9.7 11.2 12.8 12.7 11.4 -2.0 9.0 1.7 2.7

55=44-50 Financial net worth : : -5.9 -6.4 -14.3 -17.9 -22.9 -27.6 -32.6 -36.5 -39.6 -38.2 -35.8 -44.1 4.6 3.756=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : -3.9 -2.8 -6.0 -6.3 -7.9 -5.3 -5.3 -5.1 -3.4 -0.9 0.9 0.8 0.0 0.1

58=64(t)-64(t-1) Change in Government Debt : : 3.8 4.4 7.4 8.7 7.3 5.1 11.1 3.5 1.7 -0.7 0.4 0.0 0.5 0.0 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -0.1 1.7 1.4 2.5 -0.6 -0.2 5.8 -1.6 -1.7 -1.6 1.3 0.0 1.3 -0.1 0.1

60=23 Net acquisition of financial assets : : : : : : : : : -0.2 -1.1 -0.8 0.6 0.1 0.5 0.1 0.0

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -1.4 -0.9 -0.3 0.8 -0.1 1.0 -0.3 0.1

62Valuation effects and other changes in volume in government debt : : : : : : : : : 0.2 0.4 -0.6 -0.3 0.0 -0.3 0.0 0.0

63 Statistical discrepancies : : : : : : : : : -0.2 -0.1 0.1 0.1 0.0 0.1 0.1 0.064=65+66+69 Government debt (nominal / face value) : 35.5 41.2 39.0 48.3 57.3 63.8 69.4 80.4 84.0 83.7 80.2 77.5 -0.1 76.2 1.4 0.0

65 . Currency and deposits : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.066=67+68 . Debt securities : 24.6 27.4 22.3 27.2 32.0 34.2 38.3 46.7 50.6 51.7 51.2 53.1 0.0 53.1 0.0 0.0



74=45+46+48a Government liquid assets : : 5.9 6.9 8.7 9.9 8.2 8.7 11.9 11.3 9.5 7.8 7.7 : : :

Table C - Memorandum items75 Government final consumption expenditure : : 18.3 18.5 20.3 20.2 20.2 20.3 20.2 20.6 19.9 19.4 19.4 9.0 8.3 2.176 Consumption of fixed capital : : 1.7 1.9 2.2 2.3 2.2 2.2 2.1 2.3 2.2 2.0 2.0 1.3 0.7 0.0

77=20+18-76 Net savings and capital transfers : : 0.1 1.2 -2.4 -5.0 -6.6 -4.0 -3.7 -3.9 -2.3 0.3 1.6 1.2 0.4 0.178 GDP



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Government revenue and expenditure1=2+6+7+8+9 17.1 5.8 4.0 6.0 9.3 9.5 6.6 -5.2 -2.1 -1.2 3.8 -0.1 1.3 7.0 6.1 3.7

2=3+4+5 1.6 8.2 5.1 7.7 11.9 10.5 5.9 -7.7 -1.2 -1.1 2.8 3.0 -1.3 4.2 6.1 3.93 8.9 8.0 4.4 6.4 8.9 7.8 6.4 -9.0 1.6 -0.9 4.5 3.0 -0.6 5.7 4.8 5.24 -16.8 8.8 7.3 12.1 20.7 17.8 4.6 -4.3 -8.0 -1.8 -1.8 3.1 -3.5 -0.4 10.4 0.05 11.3 -1.0 18.8 5.9 -17.3 10.6 18.2 60.4 -22.7 129.1 -0.3 -17.4 57.8 3.2 41.7 -44.76 16.9 8.8 7.5 6.2 8.2 9.8 9.4 -1.7 -3.2 -0.3 -2.0 -1.8 5.5 3.6 2.6 4.17 74.4 3.3 4.3 2.9 3.0 1.5 17.5 -2.4 1.7 -2.3 3.9 2.8 -2.9 16.3 6.1 -0.58 100.7 -9.8 -1.3 -3.5 -0.6 8.3 -11.2 -3.1 -18.8 -8.6 28.9 -5.1 17.9 29.2 10.2 13.09 -19.4 -95.4 36.5 123.5 44.6 6.2 70.0 113.1 12.8 160.3 -67.1 3.4 80.6 67.7 -22.7

10=11+..+18 19.8 8.7 5.5 3.3 8.2 7.3 7.5 1.6 -1.4 2.5 -2.2 0.0 0.8 2.9 0.6 -0.311 29.3 1.2 1.9 10.8 11.1 9.4 9.3 -3.8 2.0 1.7 0.3 4.1 4.0 1.4 3.4 2.412 8.8 7.4 8.0 3.3 5.9 13.6 6.3 5.1 -1.9 0.8 -1.4 -2.7 -2.1 2.4 2.7 4.213 9.2 10.8 16.8 8.4 5.4 8.4 13.5 12.7 4.0 14.6 13.7 1.8 7.8 3.3 -8.3 -9.714 5.2 6.6 17.6 7.5 6.7 15.5 8.5 -4.6 -3.1 -0.8 -7.5 -10.3 -14.6 -15.0 10.4 -2.615 27.8 -6.4 11.5 0.2 14.2 4.4 3.3 8.0 -0.9 4.1 -0.7 1.9 2.2 3.0 -3.0 2.1

15a 33.5 -8.9 9.9 -0.6 15.5 3.7 4.3 7.2 -0.1 4.6 -1.9 0.9 1.9 3.1 -3.1 2.216 -42.8 206.3 -45.1 86.9 -10.9 -53.2 79.6 -26.7 60.9 -19.3 11.5 21.0 -17.0 51.6 5.0 2.817 128.1 -6.0 28.2 -23.1 -11.4 -2.6 21.4 -8.3 81.5 12.9 -40.6 -34.7 41.3 4.7 7.9 -22.418 15.8 46.1 -3.9 -6.1 8.9 17.8 3.2 -6.4 -37.8 -1.6 0.3 5.4 -4.1 -5.1 3.3 -14.119 15.8 46.1 -3.9 -6.1 8.9 17.8 3.2 -6.4 -37.8 -1.6 0.3 5.4 -4.1 -7.1 3.0 -12.1

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : 0.3 0.0 3.6 -0.2 0.8 4.6 4.9 2.0 -2.4 1.1 7.1 -0.3 -1.8 -1.4 1.1

24 : 21.9 -5.3 17.2 -1.3 8.1 41.6 28.6 8.6 -16.5 4.0 38.6 -6.1 -15.4 -15.9 3.825 : -100.0 2.0 -3.6 -4.2 -100.0 0.0 -25.9 0.0 0.0 -99.2 4.8 182.226 : 17.9 3.8 4.6 5.2 0.0 9.3 2.8 0.0 5.9 6.4 14.6 8.1 7.7 14.4 5.927 : -4.5 0.0 0.1 -3.4 -3.1 -0.8 -0.1 0.0 -0.2 0.2 0.1 -0.3 -0.1 -0.2 -0.128 : 1.6 1.9 8.2 9.9 11.6 4.2 3.1 1.2 1.3 0.3 1.1 2.6 2.2 0.5 0.7

29=30+..+33 : 11.1 10.5 9.0 4.3 5.1 9.4 15.3 11.1 9.1 7.7 11.4 5.2 2.4 0.3 -0.230 :31 : 12.4 15.5 6.9 3.1 1.3 0.5 17.0 16.7 7.1 10.9 21.4 7.9 4.0 2.9 7.232 : 23.2 10.6 21.7 5.4 14.3 23.9 22.9 11.4 16.7 3.7 7.2 -1.2 -2.2 -5.1 -11.133 : -1.6 -1.3 0.0 6.3 2.8 10.3 -0.1 -2.0 -1.2 8.0 -11.7 14.8 8.7 2.8 -7.1


35=44(t)-44(t-1)-23 : 1.0 5.4 2.0 13.0 13.5 -9.1 -4.0 9.6 6.9 -2.2 0.7 5.8 3.7 1.8 -3.936=50(t)-50(t-1)-29 : -0.8 0.0 -1.3 -1.2 3.5 2.2 0.0 3.4 1.8 -2.5 0.1 2.5 3.0 -0.1 -2.6

37=35-36 = 55(t)-55(t-1)-22 : 59.9 -97.7 -32.7 -111.5 -311.3 -573.2 27.7 -16.6 -12.9 -3.4 -1.2 -3.3 1.8 -2.9 -0.6

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : 1.3 5.4 5.6 12.8 14.3 -4.5 1.0 11.6 4.5 -1.1 7.9 5.5 1.8 0.5 -2.845 : 21.9 -5.3 17.2 -1.3 8.4 42.0 28.6 12.1 -15.7 3.9 39.2 -6.0 -14.8 -16.3 3.346 : -100.0 2.0 -3.6 -4.2 -100.0 0.0 -25.9 0.0 0.0 -99.2 -62.0 14.647 : 26.4 3.8 4.6 5.2 0.0 9.4 2.8 0.5 7.0 6.5 15.2 8.1 5.7 14.1 5.048 : 3.0 3.6 3.2 16.9 17.6 -23.7 -7.4 13.0 10.9 -2.4 5.8 5.6 -1.0 1.8 -2.1

48a : -22.5 36.9 52.3 28.5 83.9 -41.2 -57.2 9.4 -16.2 42.6 -2.7 29.6 1.4 18.1 -4.549 : -20.5 21.8 8.2 9.9 10.1 42.5 3.1 10.4 5.5 -2.5 -8.3 15.0 19.6 3.6 -8.8

50=51+..+54 : 10.3 10.5 7.7 3.2 8.6 11.6 15.3 14.5 11.0 5.1 11.5 7.7 5.4 0.2 -2.751 :52 : 11.8 15.0 4.5 1.7 0.3 1.9 16.3 17.4 9.2 10.4 20.7 12.4 7.5 3.3 3.453 : 20.8 11.7 21.7 3.8 15.7 29.6 20.2 19.2 18.8 4.2 8.3 -0.8 -2.0 -6.1 -12.454 : -1.6 -1.3 0.0 6.3 21.5 9.6 5.6 -0.3 -0.7 -8.0 -11.7 15.0 17.5 2.8 -7.1

55=44-50 : -283.2 102.5 27.3 -72.1 -170.4 -811.0 113.9 24.0 30.0 19.7 18.4 11.7 11.3 -0.1 -2.656=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -10.4 -14.0 -14.7 -10.3 -9.0 -6.9 -8.0 -14.6 -12.9 -13.9 -8.2 -7.6 -6.4 -4.2 -1.2 1.1

58=64(t)-64(t-1) 9.3 14.4 14.0 10.0 2.4 5.6 12.9 18.0 18.0 12.8 7.9 16.1 4.4 2.1 -0.9 0.659 = 57+58 = 60+..+63 -1.1 0.3 -0.7 -0.3 -6.6 -1.3 4.9 3.4 5.0 -1.1 -0.2 8.4 -2.0 -2.1 -2.0 1.7

60=23 : : : : : : : : : : : : -0.2 -1.3 -1.0 0.8

61=(-)33 : : : : : : : : : : : : -1.8 -1.2 -0.4 1.1

62 : : : : : : : : : : : : 0.3 0.4 -0.8 -0.4

63 : : : : : : : : : : : : -0.3 -0.1 0.2 0.164=65+66+69 9.3 14.4 14.0 10.0 2.4 5.6 12.9 18.0 18.0 12.8 7.9 16.1 4.4 2.1 -0.9 0.6

6566=67+68 3.0 11.6 15.0 5.0 1.7 0.5 2.8 16.3 16.9 8.1 11.2 22.4 8.2 4.8 2.4 7.9

67 13.3 16.3 37.3 39.0 -0.7 -12.9 24.5 31.1 5.8 -5.9 -7.1 25.1 0.5 -24.8 -17.3 0.168 1.9 11.1 12.4 0.0 2.2 3.1 -0.8 13.2 19.5 11.1 14.6 21.9 9.4 8.9 4.2 8.5

69=70+71 28.2 20.9 11.6 21.7 3.7 15.6 29.9 20.3 19.4 18.8 4.2 8.3 -0.8 -2.0 -6.1 -12.470 78.5 74.7 -17.2 -44.4 -28.3 -34.6 130.0 84.6 -16.1 -19.4 82.8 -5.5 -61.5 -47.2 68.6 -15.971 25.4 16.7 15.0 27.3 4.9 16.8 28.4 18.7 20.8 19.8 2.7 8.8 0.9 -1.5 -6.5 -12.372 : : : : : : : :73 : : : : : : : : 334.0 86.8 0.0 0.0

74=45+46+48a : 15.8 -2.4 20.4 2.2 19.5 23.1 19.3 12.9 -15.6 5.1 36.8 -4.7 -14.4 -14.3 2.7

Table C - Memorandum items75 7.4 6.9 8.2 6.9 8.7 13.6 5.1 4.7 -0.8 1.2 -0.6 -0.2 2.0 -0.8 0.8 3.976 45.4 11.2 9.3 9.2 8.3 12.3 12.7 12.9 5.1 -3.0 -0.1 -4.2 6.2 -1.2 -4.8 0.7

77=20+18-7678 8.9 9.9 7.8 7.7 9.0 9.6 7.8 -4.7 -0.7 1.3 -0.8 0.3 -0.1 2.4 3.5 4.1

79 : : : : : : : : : : : : : : : :



Italy




2=3+4+5 Taxes 258,011 350,475 400,400 461,782 446,097 453,913 464,907 488,0303 . Indirect taxes 115,700 178,438 207,669 221,557 211,462 223,855 231,100 246,7464 . Direct taxes 137,036 170,947 190,861 239,738 222,379 226,541 226,826 239,7605 . Capital taxes 5,275 1,090 1,870 487 12,256 3,517 6,981 1,5246 Social contributions 138,695 145,852 181,957 212,926 212,133 213,702 216,294 215,8377 Sales (incl . own account capital formation) 17,452 25,543 28,429 30,334 31,221 32,205 33,408 34,2468 Other current revenue 22,015 22,009 25,969 29,264 29,386 30,456 30,009 29,7499 Capital revenue 2,650 3,558 4,404 3,416 3,276 2,645 3,713 4,397



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) -303 -21,228 1,024 -1,297 -1,096 -1,335 -3,896 -2,334

22=23-29 Net financial transactions -71,141 -8,991 -62,180 -41,645 -81,452 -66,238 -56,335 -44,74423=24+..+28 Net acquisition of financial assets 12,213 14,022 23,137 14,747 20,062 19,969 -4,688 35,202

24 Currency and deposits 2,951 -7,674 6,657 7,688 11,783 11,146 -19,136 1,53925 Debt securities 172 3,646 8,156 1,667 2,494 2,693 2,874 2,67726 Loans 5,290 3,424 8,041 2,175 1,119 3,271 7,750 24,56827 Shares and other equity -2,613 5,234 -2,661 644 3,612 383 -1,442 -1,70828 Other financial assets 6,413 9,390 2,944 2,576 1,055 2,475 5,266 8,126

29=30+..+33 Net incurrence of liabilities 83,354 23,013 85,317 56,392 101,514 86,207 51,647 79,94630 Currency and deposits 12,237 10,482 17,691 -816 9,570 1,060 -6,153 6,04331 Debt securities 60,157 21,553 45,412 64,527 87,099 79,943 47,745 50,82332 Loans 8,470 -6,725 10,109 -3,470 2,796 2,221 5,707 27,13633 Other liabilities 2,490 -2,295 12,101 -3,849 2,050 2,982 4,349 -4,055


35=44(t)-44(t-1)-23 Other changes in financial assets : 10,542 6,081 -13,583 -740 -8,593 -3,566 -81436=50(t)-50(t-1)-29 Other changes in liabilities : 1,451 5,322 14,638 32,026 -66,627 -115,354 193,471

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 9,091 759 -28,221 -32,766 58,034 111,788 -194,285

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets 250,554 296,448 361,451 385,696 405,018 416,394 408,140 442,52845 Currency and deposits 53,004 52,008 58,018 66,737 81,049 92,377 73,446 76,15546 Debt securities 4,205 9,869 9,430 15,698 18,296 21,026 23,730 26,32947 Loans 40,081 44,057 59,063 53,593 54,700 58,017 65,782 90,32148 Shares and other equity 92,615 115,986 136,217 130,943 131,956 125,511 122,647 122,937

48a of which, Investment fund shares 327 4,229 4,229 4,229 4,229 4,229 4,229 4,22949 Other financial assets 60,649 74,527 98,722 118,726 119,016 119,463 122,535 126,785

50=51+..+54 Liabilities 1,194,199 1,474,684 1,772,284 1,869,268 2,002,808 2,022,388 1,958,681 2,232,09851 Currency and deposits 114,289 171,340 219,750 211,189 220,759 221,819 215,665 221,70852 Debt securities 908,952 1,156,105 1,327,430 1,403,503 1,526,347 1,542,692 1,466,013 1,701,88253 Loans 81,730 75,717 126,287 146,601 149,397 151,621 157,328 184,46454 Other liabilities 89,229 71,523 98,816 107,974 106,305 106,257 119,675 124,044

55=44-50 Financial net worth -943,645 -1,178,236 -1,410,833 -1,483,572 -1,597,790 -1,605,994 -1,550,541 -1,789,57056=39-50=40+55 Net worth : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt 82,124 17,494 68,983 65,198 98,829 81,587 56,187 82,12659 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 10,680 -12,725 7,827 22,256 16,281 14,014 -4,044 35,048





65 . Currency and deposits : 115,774 149,558 147,284 155,786 156,876 153,256 160,25766=67+68 . Debt securities : 1,111,070 1,246,606 1,383,791 1,469,994 1,548,466 1,604,157 1,654,161

67 .. short term : 101,923 117,460 147,371 139,911 129,862 131,181 151,55568 .. long term : 1,009,147 1,129,147 1,236,420 1,330,083 1,418,604 1,472,975 1,502,606




77=20+18-76 Net savings and capital transfers -67,514 -21,516 -52,403 -35,479 -70,366 -63,506 -57,523 -48,82178 GDP 984,983 1,239,266 1,489,725 1,632,151 1,572,878 1,604,515 1,637,463 1,613,265




Italy




2=3+4+5 484,887 487,538 493,301 495,115 501,921 400,364 101,557 03 239,813 248,849 249,616 242,294 249,405 186,654 62,751 -4 240,920 237,107 242,471 247,458 250,192 211,502 38,690 -5 4,154 1,582 1,214 5,363 2,324 2,208 116 -6 215,289 214,346 219,064 220,632 225,671 2,329 1,216 222,1267 36,574 37,234 38,203 37,663 38,300 9,868 27,995 4378 31,124 31,959 31,065 31,107 31,225 -221,889 33,808 103,353 115,9539 4,614 5,085 5,639 1,428 2,586 -8,386 4,153 6,819 0

10=11+..+18 819,381 825,502 830,425 828,882 840,763 -230,275 496,061 239,379 335,59811 89,579 88,890 89,940 92,234 94,928 22,176 70,839 1,91312 164,784 163,468 162,074 163,975 164,231 96,976 64,358 2,89713 77,605 74,379 68,061 66,300 65,515 -1,418 63,941 2,945 4714 27,547 30,413 28,177 29,324 26,477 16,280 9,784 41315 363,240 371,073 376,651 380,924 386,693 17,522 45,837 323,334

15a 319,688 326,863 332,792 336,354 341,408 14,764 3,882 322,76216 38,514 37,126 37,152 38,752 36,008 -220,471 230,065 19,833 6,58117 19,051 22,511 31,005 20,985 32,552 -8,386 33,373 7,565 018 39,061 37,642 37,365 36,388 34,359 15,728 18,218 41319 38,555 37,008 36,643 35,660 33,787 15,538 17,836 413

Government deficit

20=1-10 -46,893 -49,340 -43,153 -42,937 -41,060 -45,539 1,561 2,918


21=20-22 2,585 -1,968 575 -2,999 -340 1,367 -765 -941

22=23-29 -49,478 -47,372 -43,728 -39,938 -40,720 -46,906 2,326 3,85923=24+..+28 22,180 23,802 -10,753 13,047 9,164 1,729 4,407 -1,802 4,830

24 504 9,358 -9,731 10,763 -11,505 0 -10,664 -319 -52225 572 765 121 -2,771 329 112 0 -99 31626 7,459 1,700 -1,990 -557 7,054 1,628 6,195 104 -87327 7,786 512 -2,901 5,221 10,447 0 5,335 -134 5,24628 5,860 11,464 3,749 391 2,839 -14 3,544 -1,354 663

29=30+..+33 71,658 71,174 32,975 52,985 49,884 1,728 51,313 -4,128 97130 -1,777 14,735 5,055 -4,894 -41 0 -41 0 031 83,002 64,851 33,165 54,903 41,688 115 42,201 -628 032 -632 -6,805 118 1,218 4,550 1,629 6,458 -3,525 -1233 -8,937 -1,608 -5,361 1,757 3,689 -14 2,696 24 983


35=44(t)-44(t-1)-23 -2,641 -920 5,311 3,098 -3,755 -1 -3,561 -193 036=50(t)-50(t-1)-29 30,581 166,339 21,883 -30,629 -40,708 0 -40,518 -191 1

37=35-36 = 55(t)-55(t-1)-22 -33,222 -167,259 -16,572 33,727 36,953 36,957 -2 -1

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 890,169 883,070 876,594 867,324 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 462,067 484,949 479,507 495,652 501,061 -50,978 389,624 54,348 108,06745 75,996 85,617 76,083 87,043 75,748 0 47,736 17,688 10,32446 27,105 27,737 27,922 26,618 28,073 -9,580 3,674 3,928 30,05147 97,790 98,960 97,069 96,618 103,650 -40,976 131,035 7,139 6,45248 131,248 134,864 140,054 151,040 160,162 0 124,697 17,786 17,679

48a 4,229 4,229 4,229 4,229 4,229 : : :49 129,928 137,772 138,380 134,332 133,428 -421 82,482 7,806 43,561

50=51+..+54 2,334,337 2,571,850 2,626,708 2,649,064 2,658,240 -50,977 2,515,269 180,275 13,67351 219,932 234,667 239,722 234,828 234,787 0 234,787 0 052 1,819,914 2,037,503 2,097,254 2,118,737 2,124,556 -9,580 2,119,610 14,526 053 184,100 177,295 177,772 179,497 184,047 -40,976 110,109 114,780 13454 110,392 122,385 111,960 116,002 114,850 -421 50,763 50,969 13,539

55=44-50 -1,872,270 -2,086,901 -2,147,201 -2,153,412 -2,157,179 -2,125,645 -125,927 94,39456=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -46,893 -49,340 -43,153 -42,937 -41,060 -45,539 1,561 2,918

58=64(t)-64(t-1) 80,124 67,068 36,081 46,179 43,898 1,694 46,593 -4,377 -1259 = 57+58 = 60+..+63 33,231 17,728 -7,072 3,242 2,838 1,694 1,054 -2,816 2,906

60=23 : 23,803 -10,757 13,048 9,163 1,728 4,408 -1,801 4,828

61=(-)33 : 1,607 5,365 -1,757 -3,688 14 -2,694 -23 -984

62 : -5,713 -2,256 -5,049 -2,298 -48 -2,026 -225 0

63 : -1,969 576 -3,000 -339 -1 1,366 -766 -93864=65+66+69 2,070,254 2,137,322 2,173,403 2,219,581 2,263,479 -50,299 2,185,763 127,881 134

65 158,481 173,215 178,270 173,376 173,335 0 173,335 - -66=67+68 1,734,489 1,792,283 1,822,218 1,872,367 1,911,564 -9,580 1,906,618 14,526 -

67 140,581 124,540 115,032 107,026 106,563 -32 106,595 0 -68 1,593,908 1,667,743 1,707,186 1,765,341 1,805,001 -9,548 1,800,023 14,526 -

69=70+71 177,285 171,824 172,914 173,838 178,580 -40,719 105,810 113,355 13470 16,592 13,878 14,754 12,149 11,861 0 6,978 4,796 8771 160,693 157,947 158,160 161,689 166,719 -40,719 98,833 108,559 4772 44,156 45,998 43,901 43,901 43,901 : : :73 0 0 0 0 0 : : :

74=45+46+48a 107,330 117,583 108,234 117,890 108,050 : : :


77=20+18-76 -52,260 -56,155 -50,382 -50,649 -51,018 -51,354 -2,461 2,79778 1,604,599 1,621,827 1,652,085 1,689,748 1,724,954

79 3,398 3,391 3,381 3,394 3,373

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Italy




2=3+4+5 Taxes 26.2 28.3 26.9 28.3 28.4 28.3 28.4 30.3 30.2 30.1 29.9 29.3 29.1 23.2 5.9 0.03 . Indirect taxes 11.7 14.4 13.9 13.6 13.4 14.0 14.1 15.3 14.9 15.3 15.1 14.3 14.5 10.8 3.6 -4 . Direct taxes 13.9 13.8 12.8 14.7 14.1 14.1 13.9 14.9 15.0 14.6 14.7 14.6 14.5 12.3 2.2 -5 . Capital taxes 0.5 0.1 0.1 0.0 0.8 0.2 0.4 0.1 0.3 0.1 0.1 0.3 0.1 0.1 0.0 -6 Social contributions 14.1 11.8 12.2 13.0 13.5 13.3 13.2 13.4 13.4 13.2 13.3 13.1 13.1 0.1 0.1 12.97 Sales (incl. own account capital formation) 1.8 2.1 1.9 1.9 2.0 2.0 2.0 2.1 2.3 2.3 2.3 2.2 2.2 0.6 1.6 0.08 Other current revenue 2.2 1.8 1.7 1.8 1.9 1.9 1.8 1.8 1.9 2.0 1.9 1.8 1.8 -12.9 2.0 6.0 6.79 Capital revenue 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.1 0.1 -0.5 0.2 0.4 0.0



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) 0.0 -1.7 0.1 -0.1 -0.1 -0.1 -0.2 -0.1 0.2 -0.1 0.0 -0.2 0.0 0.1 0.0 -0.1

22=23-29 Net financial transactions -7.2 -0.7 -4.2 -2.6 -5.2 -4.1 -3.4 -2.8 -3.1 -2.9 -2.6 -2.4 -2.4 -2.7 0.1 0.223=24+..+28 Net acquisition of financial assets 1.2 1.1 1.6 0.9 1.3 1.2 -0.3 2.2 1.4 1.5 -0.7 0.8 0.5 0.1 0.3 -0.1 0.3

24 Currency and deposits 0.3 -0.6 0.4 0.5 0.7 0.7 -1.2 0.1 0.0 0.6 -0.6 0.6 -0.7 0.0 -0.6 0.0 0.025 Debt securities 0.0 0.3 0.5 0.1 0.2 0.2 0.2 0.2 0.0 0.0 0.0 -0.2 0.0 0.0 0.0 0.0 0.026 Loans 0.5 0.3 0.5 0.1 0.1 0.2 0.5 1.5 0.5 0.1 -0.1 0.0 0.4 0.1 0.4 0.0 -0.127 Shares and other equity -0.3 0.4 -0.2 0.0 0.2 0.0 -0.1 -0.1 0.5 0.0 -0.2 0.3 0.6 0.0 0.3 0.0 0.328 Other financial assets 0.7 0.8 0.2 0.2 0.1 0.2 0.3 0.5 0.4 0.7 0.2 0.0 0.2 0.0 0.2 -0.1 0.0

29=30+..+33 Net incurrence of liabilities 8.5 1.9 5.7 3.5 6.5 5.4 3.2 5.0 4.5 4.4 2.0 3.1 2.9 0.1 3.0 -0.2 0.130 Currency and deposits 1.2 0.8 1.2 0.0 0.6 0.1 -0.4 0.4 -0.1 0.9 0.3 -0.3 0.0 0.0 0.0 0.0 0.031 Debt securities 6.1 1.7 3.0 4.0 5.5 5.0 2.9 3.2 5.2 4.0 2.0 3.2 2.4 0.0 2.4 0.0 0.032 Loans 0.9 -0.5 0.7 -0.2 0.2 0.1 0.3 1.7 0.0 -0.4 0.0 0.1 0.3 0.1 0.4 -0.2 0.033 Other liabilities 0.3 -0.2 0.8 -0.2 0.1 0.2 0.3 -0.3 -0.6 -0.1 -0.3 0.1 0.2 0.0 0.2 0.0 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.9 0.4 -0.8 0.0 -0.5 -0.2 -0.1 -0.2 -0.1 0.3 0.2 -0.2 0.0 -0.2 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.1 0.4 0.9 2.0 -4.2 -7.0 12.0 1.9 10.3 1.3 -1.8 -2.4 0.0 -2.3 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.7 0.1 -1.7 -2.1 3.6 6.8 -12.0 -2.1 -10.3 -1.0 2.0 2.1 2.1 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : 55.1 55.5 54.4 53.1 51.3 : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets 25.4 23.9 24.3 23.6 25.8 26.0 24.9 27.4 28.8 29.9 29.0 29.3 29.0 -3.0 22.6 3.2 6.345 Currency and deposits 5.4 4.2 3.9 4.1 5.2 5.8 4.5 4.7 4.7 5.3 4.6 5.2 4.4 0.0 2.8 1.0 0.646 Debt securities 0.4 0.8 0.6 1.0 1.2 1.3 1.4 1.6 1.7 1.7 1.7 1.6 1.6 -0.6 0.2 0.2 1.747 Loans 4.1 3.6 4.0 3.3 3.5 3.6 4.0 5.6 6.1 6.1 5.9 5.7 6.0 -2.4 7.6 0.4 0.448 Shares and other equity 9.4 9.4 9.1 8.0 8.4 7.8 7.5 7.6 8.2 8.3 8.5 8.9 9.3 0.0 7.2 1.0 1.0

48a of which, Investment fund shares 0.0 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 : : :49 Other financial assets 6.2 6.0 6.6 7.3 7.6 7.4 7.5 7.9 8.1 8.5 8.4 7.9 7.7 0.0 4.8 0.5 2.5

50=51+..+54 Liabilities 121.2 119.0 119.0 114.5 127.3 126.0 119.6 138.4 145.5 158.6 159.0 156.8 154.1 -3.0 145.8 10.5 0.851 Currency and deposits 11.6 13.8 14.8 12.9 14.0 13.8 13.2 13.7 13.7 14.5 14.5 13.9 13.6 0.0 13.6 0.0 0.052 Debt securities 92.3 93.3 89.1 86.0 97.0 96.1 89.5 105.5 113.4 125.6 126.9 125.4 123.2 -0.6 122.9 0.8 0.053 Loans 8.3 6.1 8.5 9.0 9.5 9.4 9.6 11.4 11.5 10.9 10.8 10.6 10.7 -2.4 6.4 6.7 0.054 Other liabilities 9.1 5.8 6.6 6.6 6.8 6.6 7.3 7.7 6.9 7.5 6.8 6.9 6.7 0.0 2.9 3.0 0.8

55=44-50 Financial net worth -95.8 -95.1 -94.7 -90.9 -101.6 -100.1 -94.7 -110.9 -116.7 -128.7 -130.0 -127.4 -125.1 -123.2 -7.3 5.556=39-50=40+55 Net worth : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt 8.3 1.4 4.6 4.0 6.3 5.1 3.4 5.1 5.0 4.1 2.2 2.7 2.5 0.1 2.7 -0.3 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 1.1 -1.0 0.5 1.4 1.0 0.9 -0.2 2.2 2.1 1.1 -0.4 0.2 0.2 0.1 0.1 -0.2 0.2

60=23 Net acquisition of financial assets : : : : : : : : : 1.5 -0.7 0.8 0.5 0.1 0.3 -0.1 0.3

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : 0.1 0.3 -0.1 -0.2 0.0 -0.2 0.0 -0.1

62Valuation effects and other changes in volume in government debt : : : : : : : : : -0.4 -0.1 -0.3 -0.1 0.0 -0.1 0.0 0.0

63 Statistical discrepancies : : : : : : : : : -0.1 0.0 -0.2 0.0 0.0 0.1 0.0 -0.164=65+66+69 Government debt (nominal / face value) : 105.1 101.9 102.4 112.5 115.4 116.5 123.4 129.0 131.8 131.6 131.4 131.2 -2.9 126.7 7.4 0.0

65 . Currency and deposits : 9.3 10.0 9.0 9.9 9.8 9.4 9.9 9.9 10.7 10.8 10.3 10.0 0.0 10.0 - -66=67+68 . Debt securities : 89.7 83.7 84.8 93.5 96.5 98.0 102.5 108.1 110.5 110.3 110.8 110.8 -0.6 110.5 0.8 -

67 .. short term : 8.2 7.9 9.0 8.9 8.1 8.0 9.4 8.8 7.7 7.0 6.3 6.2 0.0 6.2 0.0 -68 .. long term : 81.4 75.8 75.8 84.6 88.4 90.0 93.1 99.3 102.8 103.3 104.5 104.6 -0.6 104.4 0.8 -




77=20+18-76 Net savings and capital transfers -6.9 -1.7 -3.5 -2.2 -4.5 -4.0 -3.5 -3.0 -3.3 -3.5 -3.0 -3.0 -3.0 -3.0 -0.1 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Italy



Government revenue and expenditure1=2+6+7+8+9 2.8 3.6 2.8 2.1 6.5 6.8 1.1 -2.1 1.5 2.1 3.2 0.0 0.5 1.4 -0.2 1.8

2=3+4+5 1.8 3.7 1.4 2.0 9.5 6.0 -0.7 -3.4 1.8 2.4 5.0 -0.6 0.5 1.2 0.4 1.43 3.9 0.5 4.3 4.3 8.4 2.8 -4.3 -4.6 5.9 3.2 6.8 -2.8 3.8 0.3 -2.9 2.94 -1.4 -1.2 3.8 3.1 11.8 9.4 2.7 -7.2 1.9 0.1 5.7 0.5 -1.6 2.3 2.1 1.15 183.9 502.5 -53.3 -77.7 -88.0 32.9 62.9 2416.6 -71.3 98.5 -78.2 172.6 -61.9 -23.3 341.8 -56.76 5.0 4.4 4.7 3.0 1.3 10.2 4.9 -0.4 0.7 1.2 -0.2 -0.3 -0.4 2.2 0.7 2.37 4.1 -1.1 3.5 2.2 -1.2 4.5 3.4 2.9 3.2 3.7 2.5 6.8 1.8 2.6 -1.4 1.78 3.2 -4.7 14.0 -3.4 7.1 0.5 4.7 0.4 3.6 -1.5 -0.9 4.6 2.7 -2.8 0.1 0.49 4.8 81.8 -12.5 16.5 -5.9 -1.0 -16.7 -4.1 -19.3 40.4 18.4 4.9 10.2 10.9 -74.7 81.1

10=11+..+18 2.0 4.4 3.2 3.5 5.0 2.1 3.7 3.1 -0.5 1.0 1.3 0.0 0.7 0.6 -0.2 1.411 2.7 4.9 5.7 5.6 -1.7 4.2 5.5 3.7 2.0 -0.2 -0.2 2.9 -0.8 1.2 2.6 2.912 4.5 5.3 3.6 4.3 4.6 0.3 3.6 0.8 0.5 -1.7 -2.0 -0.8 -0.8 -0.9 1.2 0.213 -7.1 -5.8 -3.5 0.7 2.5 11.3 5.0 -13.7 -0.9 11.0 9.4 -7.1 -4.2 -8.5 -2.6 -1.214 -0.7 -6.6 -2.6 -5.7 4.0 3.2 1.2 15.0 7.5 1.2 10.0 6.5 10.4 -7.4 4.1 -9.715 5.6 4.5 5.2 3.6 3.9 4.4 4.5 5.2 2.3 1.2 1.6 2.4 2.2 1.5 1.1 1.5

15a 5.5 4.7 4.6 3.3 4.1 4.9 4.9 5.2 2.4 1.9 2.3 2.6 2.2 1.8 1.1 1.516 5.5 4.3 7.9 1.5 0.8 7.5 3.4 1.6 -1.2 0.4 1.6 2.4 -3.6 0.1 4.3 -7.117 8.2 4.4 -14.2 14.5 60.3 -31.9 -13.3 19.4 -27.9 2.8 11.5 -16.0 18.2 37.7 -32.3 55.118 -15.3 28.1 7.0 1.1 2.5 1.1 4.0 12.9 -13.7 -3.2 -8.2 -6.3 -3.6 -0.7 -2.6 -5.619 -15.5 31.3 4.7 2.1 1.7 2.9 3.9 11.6 -13.7 -3.2 -8.5 -6.9 -4.0 -1.0 -2.7 -5.3

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 3.5 -2.8 4.3 7.0 4.9 -1.3 3.8 5.2 4.9 -1.1 8.6 5.0 5.2 -2.2 2.7 1.8

24 3.1 -14.8 8.0 13.0 19.5 -15.9 13.2 17.7 13.8 -20.7 2.1 0.7 12.3 -11.4 14.1 -13.225 34.7 45.9 66.4 112.4 11.1 28.3 12.1 15.9 14.7 13.7 11.3 2.2 2.8 0.4 -9.9 1.226 5.5 4.8 10.1 16.1 -17.4 3.7 4.2 2.1 6.0 13.4 37.3 8.3 1.7 -2.0 -0.6 7.327 0.7 -14.6 0.6 -2.1 0.9 -1.9 0.4 2.8 0.3 -1.1 -1.4 6.3 0.4 -2.2 3.7 6.928 3.1 10.6 -0.9 3.1 14.8 3.6 2.2 0.9 2.1 4.4 6.6 4.6 8.8 2.7 0.3 2.1

29=30+..+33 3.0 2.4 4.0 5.1 3.9 1.4 3.1 5.4 4.3 2.6 4.1 3.2 3.0 1.3 2.0 1.930 8.2 6.8 10.3 8.8 1.6 -5.0 -0.4 4.5 0.5 -2.8 2.8 -0.8 6.7 2.2 -2.0 0.031 2.8 2.5 3.7 3.5 2.9 2.3 4.8 6.2 5.2 3.1 3.5 4.9 3.6 1.6 2.6 2.032 -6.4 -9.5 -4.1 9.0 19.0 -1.0 -2.3 1.9 1.5 3.8 17.2 -0.3 -3.7 0.1 0.7 2.533 1.9 -1.1 5.7 14.3 3.4 7.5 -3.7 1.9 2.8 4.1 -3.4 -7.2 -1.5 -4.4 1.6 3.2


35=44(t)-44(t-1)-23 -3.4 8.3 3.2 1.8 2.4 0.4 -3.5 -0.2 -2.1 -0.9 -0.2 -0.6 -0.2 1.1 0.6 -0.836=50(t)-50(t-1)-29 -0.4 -1.4 1.8 0.3 -2.2 -1.6 0.8 1.7 -3.3 -5.7 9.9 1.4 7.1 0.9 -1.2 -1.5

37=35-36 = 55(t)-55(t-1)-22 0.3 -3.6 1.5 -0.1 -3.4 -2.1 2.0 2.2 -3.6 -7.0 12.5 1.9 8.9 0.8 -1.6 -1.7

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : 0.1 -0.8 -0.7 -1.1 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 0.0 5.4 7.5 8.8 7.4 -0.9 0.3 5.0 2.8 -2.0 8.4 4.4 5.0 -1.1 3.4 1.145 3.1 -14.7 7.6 13.1 19.6 -15.9 14.4 21.4 14.0 -20.5 3.7 -0.2 12.7 -11.1 14.4 -13.046 -13.9 1.1 0.0 30.0 13.5 28.3 14.4 16.5 14.9 12.9 11.0 2.9 2.3 0.7 -4.7 5.547 3.1 0.4 7.7 18.3 -16.3 3.6 4.7 2.1 6.1 13.4 37.3 8.3 1.2 -1.9 -0.5 7.348 -5.9 14.4 13.7 5.4 6.8 -0.8 -9.2 0.8 -4.9 -2.3 0.2 6.8 2.8 3.8 7.8 6.0

48a 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.049 5.5 11.4 0.4 4.5 14.6 3.4 1.5 0.2 0.4 2.6 3.5 2.5 6.0 0.4 -2.9 -0.7

50=51+..+54 2.6 1.0 5.8 5.4 1.7 -0.2 3.9 7.1 1.0 -3.2 14.0 4.6 10.2 2.1 0.9 0.351 8.2 -15.3 10.3 8.8 1.6 -5.0 -0.4 4.5 0.5 -2.8 2.8 -0.8 6.7 2.2 -2.0 0.052 2.1 0.7 4.2 3.5 0.0 0.4 5.3 8.8 1.1 -5.0 16.1 6.9 12.0 2.9 1.0 0.353 -4.2 55.2 -2.2 12.4 19.5 -0.6 -2.3 1.9 1.5 3.8 17.2 -0.2 -3.7 0.3 1.0 2.554 1.9 -1.1 38.5 17.0 1.9 2.6 4.5 -1.5 0.0 12.6 3.7 -11.0 10.9 -8.5 3.6 -1.0

55=44-50 3.2 0.0 5.4 4.6 0.2 0.0 4.9 7.7 0.5 -3.5 15.4 4.6 11.5 2.9 0.3 0.256=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 0.8 1.9 3.7 4.8 4.6 1.1 4.1 5.9 4.6 3.0 4.3 4.0 3.2 1.7 2.1 2.059 = 57+58 = 60+..+63 -2.1 -1.5 0.1 0.5 1.0 -0.3 1.4 1.0 0.8 -0.2 1.8 1.7 0.9 -0.3 0.1 0.1

60=23 : : : : : : : : : : : : 1.1 -0.5 0.6 0.4

61=(-)33 : : : : : : : : : : : : 0.1 0.3 -0.1 -0.2

62 : : : : : : : : : : : : -0.3 -0.1 -0.2 -0.1

63 : : : : : : : : : : : : -0.1 0.0 -0.1 0.064=65+66+69 0.8 1.9 3.7 4.8 4.6 1.1 4.1 5.9 4.6 3.0 4.3 4.0 3.2 1.7 2.1 2.0

65 8.2 -25.2 14.7 16.1 5.0 -8.9 3.0 5.8 0.7 -2.3 4.6 -1.1 9.3 2.9 -2.7 0.066=67+68 0.3 1.9 3.4 3.1 3.2 2.5 5.0 6.2 5.3 3.6 3.1 4.9 3.3 1.7 2.8 2.1

67 -0.3 5.3 -0.8 -0.8 4.1 4.5 15.3 -5.1 -7.2 1.0 15.5 -7.2 -11.4 -7.6 -7.0 -0.468 0.4 1.6 3.8 3.5 3.1 2.3 3.9 7.6 6.7 3.8 2.0 6.1 4.6 2.4 3.4 2.2

69=70+71 -4.2 56.0 -3.2 9.5 18.4 0.1 -3.3 2.9 1.4 2.8 16.7 0.9 -3.1 0.6 0.5 2.770 26.8 -11.0 6.9 24.1 3.6 -1.5 10.3 11.3 2.5 9.6 14.1 -13.5 -16.4 6.3 -17.7 -2.471 -7.7 66.6 -4.0 8.1 20.0 0.3 -4.6 2.1 1.3 2.0 17.0 2.7 -1.7 0.1 2.2 3.172 : : : : : : : : 235.6 181.5 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a 0.8 -12.1 6.1 14.2 17.6 -9.5 13.6 19.5 13.6 -13.8 5.2 0.6 9.6 -8.0 8.9 -8.3

Table C - Memorandum items75 4.4 5.7 5.1 5.1 3.2 1.3 4.0 2.3 1.0 -2.1 -1.7 0.0 -0.7 -0.5 1.6 1.076 7.2 5.9 6.0 4.7 5.0 3.2 4.6 3.6 1.6 -0.3 1.7 2.3 0.1 0.3 -1.1 0.5

77=20+18-7678 3.6 3.3 4.1 2.9 3.9 3.9 1.4 -3.6 2.0 2.1 -1.5 -0.5 1.1 1.9 2.3 2.1

79 0.4 -0.6 -0.4 -0.1 0.1 -0.4 -0.8 -1.0 -1.4 -1.5 -1.9 -1.0 -0.2 -0.3 0.4 -0.6



Cyprus




2=3+4+5 Taxes 1,445 2,246 3,493 5,213 4,427 4,575 4,687 4,6293 . Indirect taxes 835 1,215 2,219 3,108 2,634 2,755 2,688 2,7034 . Direct taxes 603 1,024 1,150 2,104 1,791 1,820 1,998 1,9245 . Capital taxes 8 7 124 1 2 1 1 26 Social contributions 465 647 1,111 1,333 1,464 1,552 1,566 1,5107 Sales (incl . own account capital formation) 174 273 447 557 478 522 505 5408 Other current revenue 235 248 290 322 384 454 349 3039 Capital revenue 1 4 159 40 95 100 126 103

10=11+..+18 Total expenditure 2,375 3,648 5,820 7,300 7,862 8,115 8,355 8,16711 Intermediate consumption 97 346 565 808 888 856 867 80212 Compensation of employees 898 1,328 2,001 2,503 2,729 2,764 2,882 2,84413 Interest 145 335 469 499 432 380 424 61114 Subsidies 64 134 95 70 32 62 85 9515 Social benefits 560 891 1,726 2,084 2,257 2,480 2,608 2,580

15a of which other than transfers in kind 560 891 1,712 2,062 2,231 2,458 2,596 2,57116 Other current expenditure 209 201 365 561 511 463 531 52617 Capital transfers payable 47 54 63 153 224 252 176 14018 Capital investments 355 360 536 623 790 859 784 56819 of which, gross fixed capital formation 340 349 515 599 784 808 784 565

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -56 -232 -321 165 -1,015 -912 -1,122 -1,082


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -3 16 9 23 98 -25 -14

22=23-29 Net financial transactions : -229 -337 156 -1,038 -1,010 -1,097 -1,06823=24+..+28 Net acquisition of financial assets : 259 110 -647 440 -188 992 1,548

24 Currency and deposits : 42 36 -667 292 -310 876 -60625 Debt securities : 0 0 0 0 0 0 026 Loans : 225 25 42 93 125 188 31227 Shares and other equity : -62 4 -58 4 0 0 1,82728 Other financial assets : 53 46 35 51 -3 -71 14

29=30+..+33 Net incurrence of liabilities : 488 447 -803 1,478 822 2,089 2,61630 Currency and deposits : 355 0 74 9 10 5 031 Debt securities : 66 330 -1,439 1,536 824 1,382 26532 Loans : 63 90 553 -62 -13 719 2,24433 Other liabilities : 3 27 9 -4 1 -17 107


35=44(t)-44(t-1)-23 Other changes in financial assets : -180 85 -582 146 127 78 -70736=50(t)-50(t-1)-29 Other changes in liabilities : -8 -2 9 -2 -6 501 -575

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -172 87 -591 147 133 -423 -131

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 3,010 4,695 3,993 4,578 4,518 5,588 6,42945 Currency and deposits : 1,102 1,919 905 1,197 887 1,719 1,26446 Debt securities : 0 0 0 0 0 0 047 Loans : 298 400 375 469 595 783 1,09448 Shares and other equity : 1,381 1,914 2,163 2,267 2,393 2,515 3,485

48a of which, Investment fund shares : 0 0 0 0 0 0 049 Other financial assets : 229 462 550 646 643 572 586

50=51+..+54 Liabilities : 5,915 9,429 8,686 10,162 10,978 13,567 15,60751 Currency and deposits : 1,000 0 74 82 92 97 9752 Debt securities : 4,184 6,716 5,126 6,661 7,485 8,867 8,40753 Loans : 721 2,681 3,459 3,395 3,376 4,094 6,33754 Other liabilities : 10 32 27 23 24 509 767


Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -56 -232 -321 165 -1,015 -912 -1,122 -1,082

58=64(t)-64(t-1) Change in Government Debt : : 429 -803 1,480 815 2,104 2,56159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 107 -639 466 -97 982 1,478





65 . Currency and deposits : 1,000 0 74 82 92 97 9766=67+68 . Debt securities : 4,184 6,722 5,126 6,661 7,485 8,867 9,184

67 .. short term : 1,499 635 476 926 488 1,432 2,86468 .. long term : 2,685 6,087 4,649 5,736 6,997 7,435 6,321

69=70+71 . Loans : 721 2,681 3,459 3,395 3,376 4,094 6,33770 .. short term : 0 0 2 6 6 7 071 .. long term : 721 2,681 3,457 3,389 3,370 4,087 6,33772 Intergovernmental lending (asset)* : : : : 0 43 144 40573 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : 1,102 1,919 905 1,197 887 1,719 1,264

Table C - Memorandum items75 Government final consumption expenditure 953 1,598 2,448 3,242 3,507 3,559 3,740 3,61676 Consumption of fixed capital 114 142 248 362 303 373 425 436

77=20+18-76 Net savings and capital transfers 186 -14 -32 425 -527 -426 -764 -95178 GDP 7,678 10,595 14,822 19,006 18,674 19,300 19,731 19,490




Cyprus



Government revenue and expenditure1=2+6+7+8+9 6,664 7,014 6,976 7,086 7,688 -163 5,785 314 1,753

2=3+4+5 4,349 4,412 4,369 4,493 4,892 4,819 73 03 2,475 2,600 2,608 2,738 3,056 2,984 73 04 1,874 1,812 1,761 1,755 1,835 1,835 0 05 0 0 1 0 0 0 0 06 1,362 1,445 1,483 1,545 1,710 0 0 1,7107 507 545 578 580 631 528 103 08 286 483 447 426 367 -141 349 116 439 160 130 100 43 89 -22 89 22 0

10=11+..+18 7,595 8,592 7,213 7,027 7,344 -163 5,642 283 1,58211 720 625 655 625 708 618 86 312 2,594 2,341 2,271 2,260 2,354 2,222 123 913 621 557 566 510 504 -9 509 5 014 95 80 72 97 55 55 0 015 2,484 2,469 2,468 2,564 2,620 1,071 0 1,549

15a 2,478 2,465 2,463 2,559 2,614 1,065 0 1,54916 403 395 463 397 464 -132 571 4 2017 439 1,763 328 90 90 -22 108 4 018 239 362 390 485 549 488 61 019 414 362 390 469 534 474 61 0

Government deficit

20=1-10 -931 -1,577 -236 59 344 143 31 171


21=20-22 -1 5 1 -14 -6 -6 0 0

22=23-29 -930 -1,582 -237 73 350 148 31 17123=24+..+28 2,085 -1,054 -224 559 -222 -256 -157 20 171

24 468 374 -312 451 -244 -258 -156 20 15025 1,500 -1,500 0 0 0 0 0 0 026 21 41 21 21 -5 2 -7 0 027 68 34 3 -2 0 0 0 0 028 28 -3 64 89 27 0 7 0 21

29=30+..+33 3,015 529 13 486 -572 -256 -305 -10 030 3 5 7 7 10 -258 268 0 031 -1,595 -868 -788 389 246 0 246 0 032 4,697 1,183 890 -85 -919 2 -911 -10 033 -90 209 -96 175 91 0 91 0 0


35=44(t)-44(t-1)-23 -639 76 144 -233 -74 -10 -74 0 1036=50(t)-50(t-1)-29 670 328 269 101 270 -10 281 0 0

37=35-36 = 55(t)-55(t-1)-22 -1,309 -251 -124 -334 -345 -355 0 10

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 : : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 7,874 6,897 6,817 7,143 6,847 -8,184 6,426 216 8,38945 1,731 2,105 1,793 2,245 2,001 -7,921 1,654 216 8,05246 1,500 0 0 0 0 -237 0 0 23747 1,115 1,156 1,177 1,198 1,193 -27 1,219 0 048 2,914 3,024 3,171 2,936 2,862 0 2,862 0 0

48a 0 0 0 0 0 : : :49 614 611 675 764 791 0 691 0 100

50=51+..+54 19,292 20,148 20,430 21,017 20,715 -8,184 28,561 338 051 100 104 112 119 129 -7,921 8,049 0 052 7,484 6,921 6,367 6,851 7,434 -237 7,671 0 053 11,030 12,236 13,160 13,081 12,095 -27 11,783 338 054 678 887 791 966 1,058 0 1,058 0 0

55=44-50 -11,418 -13,252 -13,613 -13,874 -13,869 -22,135 -122 8,38956=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -931 -1,577 -236 59 344 143 31 171

58=64(t)-64(t-1) 3,088 307 150 345 -695 -256 -429 -10 059 = 57+58 = 60+..+63 2,157 -1,270 -86 404 -351 -256 -286 20 171

60=23 : -1,054 -224 559 -222 -256 -157 20 171

61=(-)33 : -209 96 -175 -91 0 -91 0 0

62 : -13 42 33 -32 0 -32 0 0

63 : 6 1 -13 -6 0 -6 0 064=65+66+69 18,706 19,014 19,164 19,509 18,814 -8,161 26,637 338 0

65 100 104 112 119 129 -7,921 8,049 - -66=67+68 7,577 6,679 5,893 6,310 6,591 -214 6,805 0 0

67 2,734 1,814 399 300 200 0 200 0 068 4,843 4,864 5,495 6,010 6,391 -214 6,605 0 0

69=70+71 11,030 12,231 13,159 13,081 12,095 -27 11,783 338 070 0 0 0 0 0 0 0 0 071 11,030 12,231 13,159 13,081 12,095 -27 11,783 338 072 393 362 339 339 339 : : :73 0 0 0 0 0 : : :

74=45+46+48a 3,231 2,105 1,793 2,245 2,001 : : :

Table C - Memorandum items75 3,284 2,894 2,863 2,829 2,968 2,793 163 1376 404 392 399 420 427 399 28 0

77=20+18-76 -1,095 -1,608 -246 123 466 232 64 17178 18,140 17,610 17,746 18,490 19,571

79 68 66 65 65 64

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Cyprus







Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -0.7 -2.2 -2.2 0.9 -5.4 -4.7 -5.7 -5.6 -5.1 -9.0 -1.3 0.3 1.8 0.7 0.2 0.9


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.0 0.1 0.0 0.1 0.5 -0.1 -0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -2.2 -2.3 0.8 -5.6 -5.2 -5.6 -5.5 -5.1 -9.0 -1.3 0.4 1.8 0.8 0.2 0.923=24+..+28 Net acquisition of financial assets : 2.4 0.7 -3.4 2.4 -1.0 5.0 7.9 11.5 -6.0 -1.3 3.0 -1.1 -1.3 -0.8 0.1 0.9

24 Currency and deposits : 0.4 0.2 -3.5 1.6 -1.6 4.4 -3.1 2.6 2.1 -1.8 2.4 -1.2 -1.3 -0.8 0.1 0.825 Debt securities : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.3 -8.5 0.0 0.0 0.0 0.0 0.0 0.0 0.026 Loans : 2.1 0.2 0.2 0.5 0.6 1.0 1.6 0.1 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0.027 Shares and other equity : -0.6 0.0 -0.3 0.0 0.0 0.0 9.4 0.4 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.028 Other financial assets : 0.5 0.3 0.2 0.3 0.0 -0.4 0.1 0.2 0.0 0.4 0.5 0.1 0.0 0.0 0.0 0.1

29=30+..+33 Net incurrence of liabilities : 4.6 3.0 -4.2 7.9 4.3 10.6 13.4 16.6 3.0 0.1 2.6 -2.9 -1.3 -1.6 -0.1 0.030 Currency and deposits : 3.4 0.0 0.4 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -1.3 1.4 0.0 0.031 Debt securities : 0.6 2.2 -7.6 8.2 4.3 7.0 1.4 -8.8 -4.9 -4.4 2.1 1.3 0.0 1.3 0.0 0.032 Loans : 0.6 0.6 2.9 -0.3 -0.1 3.6 11.5 25.9 6.7 5.0 -0.5 -4.7 0.0 -4.7 -0.1 0.033 Other liabilities : 0.0 0.2 0.0 0.0 0.0 -0.1 0.5 -0.5 1.2 -0.5 0.9 0.5 0.0 0.5 0.0 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : -1.7 0.6 -3.1 0.8 0.7 0.4 -3.6 -3.5 0.4 0.8 -1.3 -0.4 -0.1 -0.4 0.0 0.136=50(t)-50(t-1)-29 Other changes in liabilities : -0.1 0.0 0.0 0.0 0.0 2.5 -3.0 3.7 1.9 1.5 0.5 1.4 -0.1 1.4 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -1.6 0.6 -3.1 0.8 0.7 -2.1 -0.7 -7.2 -1.4 -0.7 -1.8 -1.8 -1.8 0.0 0.1

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 28.4 31.7 21.0 24.5 23.4 28.3 33.0 43.4 39.2 38.4 38.6 35.0 -41.8 32.8 1.1 42.945 Currency and deposits : 10.4 12.9 4.8 6.4 4.6 8.7 6.5 9.5 12.0 10.1 12.1 10.2 -40.5 8.5 1.1 41.146 Debt securities : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.3 0.0 0.0 0.0 0.0 -1.2 0.0 0.0 1.247 Loans : 2.8 2.7 2.0 2.5 3.1 4.0 5.6 6.1 6.6 6.6 6.5 6.1 -0.1 6.2 0.0 0.048 Shares and other equity : 13.0 12.9 11.4 12.1 12.4 12.7 17.9 16.1 17.2 17.9 15.9 14.6 0.0 14.6 0.0 0.0


50=51+..+54 Liabilities : 55.8 63.6 45.7 54.4 56.9 68.8 80.1 106.3 114.4 115.1 113.7 105.8 -41.8 145.9 1.7 0.051 Currency and deposits : 9.4 0.0 0.4 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.7 -40.5 41.1 0.0 0.052 Debt securities : 39.5 45.3 27.0 35.7 38.8 44.9 43.1 41.3 39.3 35.9 37.0 38.0 -1.2 39.2 0.0 0.053 Loans : 6.8 18.1 18.2 18.2 17.5 20.8 32.5 60.8 69.5 74.2 70.7 61.8 -0.1 60.2 1.7 0.054 Other liabilities : 0.1 0.2 0.1 0.1 0.1 2.6 3.9 3.7 5.0 4.5 5.2 5.4 0.0 5.4 0.0 0.0

55=44-50 Financial net worth : -27.4 -31.9 -24.7 -29.9 -33.5 -40.4 -47.1 -62.9 -75.3 -76.7 -75.0 -70.9 -113.1 -0.6 42.956=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -0.7 -2.2 -2.2 0.9 -5.4 -4.7 -5.7 -5.6 -5.1 -9.0 -1.3 0.3 1.8 0.7 0.2 0.9

58=64(t)-64(t-1) Change in Government Debt : : 2.9 -4.2 7.9 4.2 10.7 13.1 17.0 1.7 0.8 1.9 -3.6 -1.3 -2.2 -0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.7 -3.4 2.5 -0.5 5.0 7.6 11.9 -7.2 -0.5 2.2 -1.8 -1.3 -1.5 0.1 0.9

60=23 Net acquisition of financial assets : : : : : : : : : -6.0 -1.3 3.0 -1.1 -1.3 -0.8 0.1 0.9

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -1.2 0.5 -0.9 -0.5 0.0 -0.5 0.0 0.0

62Valuation effects and other changes in volume in government debt : : : : : : : : : -0.1 0.2 0.2 -0.2 0.0 -0.2 0.0 0.0

63 Statistical discrepancies : : : : : : : : : 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 55.7 63.4 45.6 54.3 56.8 66.2 80.1 103.1 108.0 108.0 105.5 96.1 -41.7 136.1 1.7 0.0

65 . Currency and deposits : 9.4 0.0 0.4 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.7 -40.5 41.1 - -66=67+68 . Debt securities : 39.5 45.3 27.0 35.7 38.8 44.9 47.1 41.8 37.9 33.2 34.1 33.7 -1.1 34.8 0.0 0.0





77=20+18-76 Net savings and capital transfers 2.4 -0.1 -0.2 2.2 -2.8 -2.2 -3.9 -4.9 -6.0 -9.1 -1.4 0.7 2.4 1.2 0.3 0.978 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Cyprus



Government revenue and expenditure1=2+6+7+8+9 3.0 13.8 8.6 13.8 9.6 18.6 4.4 -8.3 5.2 0.4 -2.0 -5.9 5.3 -0.5 1.6 8.5

2=3+4+5 4.4 11.2 7.1 13.3 13.4 27.8 3.0 -15.1 3.3 2.5 -1.2 -6.1 1.4 -1.0 2.8 8.93 5.3 28.0 12.7 7.4 12.2 19.7 4.3 -15.2 4.6 -2.4 0.6 -8.4 5.1 0.3 5.0 11.64 3.5 -10.0 -10.5 23.6 27.8 41.3 1.3 -14.9 1.6 9.8 -3.7 -2.6 -3.3 -2.8 -0.3 4.65 -42.6 148.4 1033.8 41.9 -99.3 277.8 -64.7 25.0 -66.7 60.0 200.0 -83.3 -50.0 150.0 -80.0 100.06 2.2 11.6 18.4 14.2 1.6 5.9 11.5 9.9 6.0 0.9 -3.6 -9.8 6.0 2.7 4.2 10.77 7.4 10.5 15.4 12.6 2.0 23.3 -0.8 -14.3 9.1 -3.1 6.8 -6.1 7.4 6.0 0.4 8.98 -11.1 47.7 -38.9 20.5 9.0 -8.6 11.7 19.2 18.2 -23.2 -13.2 -5.7 69.0 -7.5 -4.7 -13.89 12.2 115.2 1288.9 15.6 5.1 -74.4 -7.0 138.0 6.0 25.7 -18.5 55.6 -18.6 -23.1 -57.3 108.4

10=11+..+18 8.9 18.6 2.6 9.0 6.4 6.3 10.9 7.7 3.2 3.0 -2.3 -7.0 13.1 -16.1 -2.6 4.511 14.3 5.2 -15.5 10.4 18.0 9.0 11.1 9.9 -3.6 1.3 -7.5 -10.3 -13.1 4.8 -4.6 13.212 7.6 20.6 4.1 6.1 7.9 7.0 8.3 9.0 1.3 4.3 -1.3 -8.8 -9.8 -3.0 -0.5 4.213 -2.6 16.4 0.4 14.2 0.6 4.4 1.3 -13.5 -12.1 11.6 44.2 1.5 -10.3 1.7 -10.0 -1.014 -22.7 22.1 1.0 -33.4 -18.8 -14.7 7.0 -54.3 92.2 38.5 11.4 0.2 -16.3 -10.2 35.9 -43.315 14.8 19.1 13.6 13.3 3.5 2.8 13.5 8.3 9.8 5.2 -1.1 -3.7 -0.6 0.0 3.9 2.2

15a 14.8 18.4 14.0 12.7 3.2 2.7 13.7 8.2 10.2 5.6 -0.9 -3.6 -0.6 -0.1 3.9 2.216 8.4 37.7 -17.3 46.4 -1.0 22.9 26.3 -8.9 -9.4 14.7 -0.9 -23.4 -1.9 17.2 -14.4 16.817 26.3 24.4 -12.8 -7.6 84.5 43.6 -8.5 46.2 12.7 -30.5 -20.0 212.7 301.6 -81.4 -72.6 0.718 13.0 18.3 6.2 -2.3 3.1 -2.2 15.1 26.9 8.7 -8.8 -27.5 -57.9 51.3 7.7 24.3 13.219 16.6 20.7 13.4 -11.3 5.1 0.0 10.7 30.9 3.0 -3.0 -27.9 -26.7 -12.6 7.7 20.2 14.0

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 3.9 7.0 5.5 2.4 -2.6 9.8 -12.4 11.0 -4.1 22.0 27.7 32.4 -13.4 -3.3 8.2 -3.1

24 4.9 11.5 9.5 1.9 -2.5 19.3 -29.8 32.3 -25.9 98.7 -35.2 37.0 21.6 -14.8 25.2 -10.925 -100.026 5.2 7.5 2.9 6.6 -22.2 7.3 12.5 24.7 26.7 31.6 39.8 1.9 3.7 1.8 1.8 -0.527 0.0 -1.4 0.2 0.2 0.2 1.3 -2.7 0.2 0.0 0.0 72.7 2.0 1.2 0.1 -0.1 0.028 21.2 25.7 11.3 11.0 2.2 9.0 6.9 9.3 -0.4 -11.1 2.5 4.7 -0.4 10.5 13.1 3.6

29=30+..+33 9.5 14.1 8.9 5.0 1.1 -1.0 -8.5 17.0 8.1 19.0 19.3 19.3 2.7 0.1 2.4 -2.730 -100.0 11.5 12.0 5.0 0.1 2.7 4.7 7.0 6.3 8.431 -0.9 16.1 11.6 5.2 0.4 -2.6 -21.9 30.0 12.4 18.5 3.0 -19.0 -11.6 -11.4 6.1 3.632 243.0 9.2 3.3 3.5 2.6 3.2 19.1 -1.8 -0.4 21.3 54.8 74.1 10.7 7.3 -0.6 -7.033 30.4 65.4 -31.8 106.0 13.5 -30.5 52.4 -16.2 3.9 -69.7 20.9 -11.7 30.7 -10.8 22.1 9.4


35=44(t)-44(t-1)-23 -0.3 -0.4 8.7 1.9 1.0 3.3 -11.1 3.6 2.8 1.7 -12.6 -9.9 1.0 2.1 -3.4 -1.036=50(t)-50(t-1)-29 0.4 0.1 0.2 0.0 0.0 0.5 0.1 0.0 -0.1 4.6 -4.2 4.3 1.7 1.3 0.5 1.3

37=35-36 = 55(t)-55(t-1)-22 1.2 0.7 -7.6 -1.9 -1.0 -2.1 13.9 -3.1 -2.4 6.5 1.6 14.3 2.2 0.9 2.5 2.5

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 3.6 6.6 14.2 4.3 -1.6 13.1 -23.5 14.7 -1.3 23.7 15.0 22.5 -12.4 -1.2 4.8 -4.145 4.9 11.5 9.5 1.9 -2.5 19.3 -59.5 32.3 -25.9 93.8 -26.5 37.0 21.6 -14.8 25.2 -10.946 -100.047 5.2 7.5 2.9 6.6 -22.2 7.3 12.5 24.9 27.0 31.6 39.8 1.9 3.7 1.8 1.8 -0.548 -0.7 -2.3 23.3 4.9 2.6 8.9 1.1 4.8 5.5 5.1 38.6 -16.4 3.8 4.9 -7.4 -2.5

48a49 21.2 25.7 11.3 11.0 2.2 9.0 6.9 17.5 -0.4 -11.1 2.5 4.7 -0.4 10.5 13.1 3.6

50=51+..+54 9.9 14.2 9.1 4.9 1.1 -0.5 -8.4 17.0 8.0 23.6 15.0 23.6 4.4 1.4 2.9 -1.451 -100.0 11.5 12.0 5.0 0.1 2.7 4.7 7.0 6.3 8.452 -0.9 16.1 11.6 5.2 0.4 -2.6 -21.9 30.0 12.4 18.5 -5.2 -11.0 -7.5 -8.0 7.6 8.553 246.8 9.6 3.9 4.2 2.9 5.0 19.4 -1.8 -0.6 21.3 54.8 74.1 10.9 7.6 -0.6 -7.554 30.4 65.4 -31.8 23.3 -18.4 -30.5 52.4 -16.2 3.9 2039.6 50.5 -11.5 30.7 -10.8 22.1 9.4

55=44-50 17.3 22.3 4.3 5.6 3.7 -13.3 10.2 19.0 15.7 23.5 15.0 24.4 16.1 2.7 1.9 0.056=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -7.4 -10.5 -6.2 -3.6 -1.7 5.9 1.7 -11.7 -9.0 -10.2 -8.3 -6.0 -8.4 -1.2 0.3 1.8

58=64(t)-64(t-1) 9.8 14.1 9.4 4.8 0.8 -0.2 -8.5 17.1 8.0 19.2 19.6 19.8 1.6 0.8 1.8 -3.659 = 57+58 = 60+..+63 2.5 3.5 3.2 1.2 -0.9 5.7 -6.7 5.4 -1.0 9.0 11.3 13.8 -6.8 -0.5 2.1 -1.8

60=23 : : : : : : : : : : : : -5.6 -1.2 2.9 -1.1

61=(-)33 : : : : : : : : : : : : -1.1 0.5 -0.9 -0.5

62 : : : : : : : : : : : : -0.1 0.2 0.2 -0.2

63 : : : : : : : : : : : : 0.0 0.0 -0.1 0.064=65+66+69 9.8 14.1 9.4 4.8 0.8 -0.2 -8.5 17.1 8.0 19.2 19.6 19.8 1.6 0.8 1.8 -3.6

65 -100.0 11.5 12.0 5.0 0.1 2.7 4.7 7.0 6.3 8.466=67+68 -0.9 16.1 11.8 5.0 0.0 -2.3 -21.9 30.0 12.4 18.5 3.6 -17.5 -11.9 -11.8 7.1 4.5

67 -36.4 5.7 -19.6 -28.6 -16.0 -62.2 136.2 94.3 -47.2 193.2 99.9 -4.5 -33.6 -78.0 -24.8 -33.368 16.6 18.9 19.3 10.4 1.7 2.8 -26.9 23.4 22.0 6.3 -15.0 -23.4 0.4 13.0 9.4 6.3

69=70+71 246.8 9.6 3.9 4.2 2.9 5.0 19.4 -1.8 -0.6 21.3 54.8 74.1 10.9 7.6 -0.6 -7.570 85.1 171.9 -0.8 8.0 -100.071 246.8 9.6 3.9 4.2 2.9 4.9 19.4 -2.0 -0.6 21.3 55.0 74.1 10.9 7.6 -0.6 -7.572 : : : : : : : : 236.1 181.3 -3.0 -7.9 -6.4 0.0 0.073 : : : : : : : :

74=45+46+48a 4.9 11.5 9.5 1.9 -2.5 19.3 -59.5 32.3 -25.9 93.8 -26.5 155.7 -34.8 -14.8 25.2 -10.9

Table C - Memorandum items75 8.4 16.6 -0.2 6.6 10.5 6.5 12.6 8.2 1.5 5.1 -3.3 -9.2 -11.9 -1.1 -1.2 4.976 11.8 13.0 28.4 6.4 11.6 10.0 19.1 -16.5 23.4 13.9 2.6 -7.4 -2.8 1.7 5.2 1.5

77=20+18-7678 4.0 8.2 7.9 7.0 7.9 9.4 8.5 -1.8 3.4 2.2 -1.2 -6.9 -2.9 0.8 4.2 5.8

79 3.4 1.7 0.0 1.6 1.6 4.8 3.0 1.5 1.4 1.4 -1.4 -2.9 -2.9 -1.5 0.0 -1.5



Latvia




2=3+4+5 Taxes 793 1,338 2,692 4,848 3,440 3,532 3,964 4,4403 . Indirect taxes 528 846 1,674 2,639 2,114 2,202 2,478 2,7584 . Direct taxes 265 492 1,018 2,205 1,322 1,327 1,482 1,6785 . Capital taxes 0 0 0 4 4 3 4 46 Social contributions 447 682 1,106 2,038 1,806 1,590 1,795 1,9487 Sales (incl . own account capital formation) 72 137 406 657 719 689 707 7568 Other current revenue 69 160 249 391 426 511 561 5179 Capital revenue 6 48 144 209 207 282 316 385

10=11+..+18 Total expenditure 1,446 2,552 4,647 9,167 8,316 8,162 8,217 8,30911 Intermediate consumption 309 455 881 1,509 1,152 1,181 1,343 1,33912 Compensation of employees 415 730 1,295 2,773 2,256 1,855 1,940 2,00513 Interest 32 64 70 134 286 313 362 36214 Subsidies 44 67 70 334 310 248 213 31015 Social benefits 472 837 1,235 2,168 2,629 2,565 2,491 2,486

15a of which other than transfers in kind 472 837 1,148 1,969 2,438 2,372 2,269 2,24816 Other current expenditure 57 104 508 1,004 674 765 470 68317 Capital transfers payable 28 160 118 25 223 428 427 7918 Capital investments 88 134 470 1,220 788 808 973 1,04419 of which, gross fixed capital formation 88 135 468 1,256 917 848 1,014 1,064

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -58 -187 -50 -1,024 -1,718 -1,558 -874 -264


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -36 13 31 3 -18 28 -6

22=23-29 Net financial transactions : -151 -63 -1,054 -1,722 -1,540 -902 -25823=24+..+28 Net acquisition of financial assets : -76 -44 1,692 782 -300 -586 30

24 Currency and deposits : -60 -125 651 782 -19 -646 49925 Debt securities : 0 0 -2 0 -89 -79 -726 Loans : 32 -2 985 -24 -376 -234 -13127 Shares and other equity : -54 41 35 -17 139 -2 -7628 Other financial assets : 7 43 24 41 45 374 -256

29=30+..+33 Net incurrence of liabilities : 75 19 2,747 2,504 1,241 316 28830 Currency and deposits : 0 0 179 43 -212 55 -16431 Debt securities : 91 -20 1,413 -668 41 333 1,68032 Loans : -18 13 1,008 2,979 1,435 -75 -1,16233 Other liabilities : 3 26 146 151 -24 4 -66


35=44(t)-44(t-1)-23 Other changes in financial assets : 221 149 392 96 689 293 56236=50(t)-50(t-1)-29 Other changes in liabilities : 0 8 -49 -276 457 160 295

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 221 140 441 372 231 133 267

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 7,425 8,598 11,365 20,801 14,308 14,735 17,507 19,18342 Other produced assets : : : : : : : 44643 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets : 1,552 2,652 5,884 6,762 7,151 6,857 7,44945 Currency and deposits : 147 226 1,338 2,121 2,173 1,473 2,00446 Debt securities : 0 0 0 0 86 7 047 Loans : 222 212 1,132 1,104 956 891 64048 Shares and other equity : 875 1,687 2,492 2,554 2,851 2,904 3,566

48a of which, Investment fund shares : 0 0 0 5 4 4 649 Other financial assets : 309 526 923 982 1,086 1,582 1,238

50=51+..+54 Liabilities : 993 1,961 5,548 7,776 9,474 9,949 10,53351 Currency and deposits : 0 43 186 229 442 497 33552 Debt securities : 489 1,157 2,501 1,833 1,898 2,272 4,26453 Loans : 340 352 1,740 4,733 6,258 6,210 4,99954 Other liabilities : 164 409 1,121 981 875 971 935

55=44-50 Financial net worth : 559 690 336 -1,014 -2,323 -3,092 -3,08456=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -58 -187 -50 -1,024 -1,718 -1,558 -874 -264

58=64(t)-64(t-1) Change in Government Debt 140 72 1 2,609 2,312 1,663 261 35759 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 82 -115 -48 1,585 594 105 -613 93

60=23 Net acquisition of financial assets 107 -74 -44 1,693 785 -304 -587 30

61=(-)33 Incurrence in liabilities not in government debt -11 -3 -26 -146 -153 24 -1 66

62 Valuation effects and other changes in volume in government debt : -1 11 4 -41 391 -51 6

63 Statistical discrepancies -12 -37 12 34 2 -6 26 -964=65+66+69 Government debt (nominal / face value) : 829 1,552 4,427 6,739 8,402 8,663 9,020

65 . Currency and deposits : 0 43 186 229 441 497 33566=67+68 . Debt securities : 489 1,157 2,513 1,822 1,851 2,158 3,838

67 .. short term : 81 102 1,302 644 429 304 21568 .. long term : 409 1,055 1,212 1,179 1,421 1,854 3,622

69=70+71 . Loans : 340 352 1,728 4,688 6,109 6,008 4,84870 .. short term : 3 5 139 131 10 5 171 .. long term : 337 347 1,589 4,557 6,100 6,003 4,84772 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : 147 226 1,338 2,126 2,263 1,484 2,010

Table C - Memorandum items75 Government final consumption expenditure 955 1,420 2,427 4,830 3,580 3,295 3,698 3,79976 Consumption of fixed capital 302 371 565 1,003 698 753 897 970

77=20+18-76 Net savings and capital transfers -272 -424 -145 -807 -1,628 -1,503 -799 -18978 GDP 4,059 6,850 13,597 24,351 18,827 17,938 20,303 21,886




Latvia




2=3+4+5 4,721 4,989 5,234 5,661 6,068 4,445 1,617 63 2,955 3,149 3,315 3,554 3,758 3,548 210 -4 1,760 1,834 1,912 2,099 2,301 894 1,407 -5 5 6 7 8 9 3 - 66 1,992 2,054 2,111 2,154 2,356 69 22 2,2667 761 799 843 853 857 651 206 08 494 434 371 393 565 -919 548 729 2079 365 372 406 214 204 -108 174 108 31

10=11+..+18 8,596 9,001 9,296 9,259 10,206 -1,027 6,083 2,731 2,41911 1,428 1,449 1,503 1,446 1,541 908 629 412 2,140 2,268 2,414 2,545 2,759 1,499 1,246 1413 338 338 325 255 250 0 230 20 014 344 409 310 301 343 339 4 015 2,608 2,664 2,861 3,022 3,162 598 195 2,369

15a 2,360 2,415 2,558 2,669 2,792 372 52 2,36916 628 775 677 731 792 -919 1,532 148 3117 96 35 31 20 166 -108 250 23 018 1,013 1,063 1,176 940 1,193 728 464 119 1,010 1,059 1,157 896 1,184 698 485 1

Government deficit

20=1-10 -264 -352 -331 16 -156 -197 -49 91


21=20-22 -10 -7 -4 6 -4 -12 8 0

22=23-29 -254 -345 -328 11 -152 -185 -58 9123=24+..+28 -354 397 -1,395 1,163 608 -238 638 94 114

24 -354 334 -1,181 995 -66 -130 -101 54 11225 60 -49 -11 27 63 0 63 0 026 17 -68 -91 -70 -14 -96 82 0 027 -24 26 -5 142 22 0 24 -1 028 -53 154 -107 71 602 -12 570 42 2

29=30+..+33 -99 742 -1,067 1,152 760 -238 823 152 2330 -101 70 -92 59 46 -130 176 0 -31 12 1,690 500 1,256 158 0 158 0 032 -55 -1,092 -1,247 -194 296 -96 337 55 033 44 74 -228 32 261 -12 152 97 23


35=44(t)-44(t-1)-23 -290 511 13 155 -229 0 -239 10 036=50(t)-50(t-1)-29 -139 1,015 344 103 -240 0 -230 -10 0

37=35-36 = 55(t)-55(t-1)-22 -151 -505 -331 52 11 -9 21 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 18,643 18,578 19,430 : : : : :42 474 490 513 : : : : :43 : : : : : : : :

44=45+..+49 6,805 7,713 6,331 7,649 8,029 -1,823 7,439 1,721 69245 1,653 2,045 878 1,876 1,799 -709 1,498 384 62646 60 16 1 28 89 0 89 0 047 515 617 520 426 403 -1,033 1,436 1 048 3,508 3,554 3,294 3,459 3,492 0 2,489 1,003 0

48a 4 2 39 57 49 : : :49 1,070 1,481 1,638 1,861 2,245 -80 1,926 333 66

50=51+..+54 10,295 12,052 11,329 12,584 13,105 -1,823 12,754 2,077 9651 233 303 211 269 315 -709 1,024 - -52 4,078 6,301 7,076 8,327 8,357 0 8,357 0 053 4,951 3,993 2,751 2,548 2,871 -1,033 2,353 1,551 054 1,033 1,455 1,292 1,439 1,561 -80 1,020 526 96

55=44-50 -3,489 -4,339 -4,998 -4,935 -5,076 -5,316 -356 59656=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -264 -352 -331 16 -156 -197 -49 91

58=64(t)-64(t-1) -127 776 -715 1,138 715 -230 890 55 059 = 57+58 = 60+..+63 -391 424 -1,047 1,154 559 -230 693 6 91

60=23 -354 397 -1,395 1,163 608 -238 638 94 114

61=(-)33 -44 -74 228 -32 -261 12 -152 -97 -23

62 18 107 123 17 215 -4 218 1 0

63 -11 -6 -3 6 -2 0 -11 8 064=65+66+69 8,893 9,669 8,953 10,092 10,807 -1,740 11,053 1,495 0

65 233 303 210 269 314 -708 1,022 0 066=67+68 3,859 5,495 6,076 7,353 7,694 0 7,694 0 0

67 222 122 70 0 0 0 0 0 068 3,637 5,374 6,006 7,353 7,694 0 7,694 0 0

69=70+71 4,801 3,871 2,667 2,470 2,800 -1,032 2,337 1,495 070 3 88 146 142 608 0 608 0 071 4,798 3,783 2,521 2,328 2,192 -1,032 1,729 1,495 072 0 0 0 0 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 1,717 2,064 918 1,961 1,937 : : :

Table C - Memorandum items75 4,022 4,136 4,358 4,514 4,837 2,601 2,217 1876 965 966 979 1,020 1,020 616 404 1

77=20+18-76 -215 -255 -134 -65 17 -85 11 9178 22,787 23,618 24,320 25,038 27,033

79 190 184 178 176 177

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2=3+4+5 Taxes 19.5 19.5 19.8 19.9 18.3 19.7 19.5 20.3 20.7 21.1 21.5 22.6 22.4 16.4 6.0 0.03 . Indirect taxes 13.0 12.3 12.3 10.8 11.2 12.3 12.2 12.6 13.0 13.3 13.6 14.2 13.9 13.1 0.8 -4 . Direct taxes 6.5 7.2 7.5 9.1 7.0 7.4 7.3 7.7 7.7 7.8 7.9 8.4 8.5 3.3 5.2 -5 . Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 0.06 Social contributions 11.0 10.0 8.1 8.4 9.6 8.9 8.8 8.9 8.7 8.7 8.7 8.6 8.7 0.3 0.1 8.47 Sales (incl. own account capital formation) 1.8 2.0 3.0 2.7 3.8 3.8 3.5 3.5 3.3 3.4 3.5 3.4 3.2 2.4 0.8 0.08 Other current revenue 1.7 2.3 1.8 1.6 2.3 2.9 2.8 2.4 2.2 1.8 1.5 1.6 2.1 -3.4 2.0 2.7 0.89 Capital revenue 0.2 0.7 1.1 0.9 1.1 1.6 1.6 1.8 1.6 1.6 1.7 0.9 0.8 -0.4 0.6 0.4 0.1



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -1.4 -2.7 -0.4 -4.2 -9.1 -8.7 -4.3 -1.2 -1.2 -1.5 -1.4 0.1 -0.6 -0.7 -0.2 0.3


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.5 0.1 0.1 0.0 -0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -2.2 -0.5 -4.3 -9.1 -8.6 -4.4 -1.2 -1.1 -1.5 -1.3 0.0 -0.6 -0.7 -0.2 0.323=24+..+28 Net acquisition of financial assets : -1.1 -0.3 6.9 4.2 -1.7 -2.9 0.1 -1.6 1.7 -5.7 4.6 2.2 -0.9 2.4 0.3 0.4

24 Currency and deposits : -0.9 -0.9 2.7 4.2 -0.1 -3.2 2.3 -1.6 1.4 -4.9 4.0 -0.2 -0.5 -0.4 0.2 0.425 Debt securities : 0.0 0.0 0.0 0.0 -0.5 -0.4 0.0 0.3 -0.2 0.0 0.1 0.2 0.0 0.2 0.0 0.026 Loans : 0.5 0.0 4.0 -0.1 -2.1 -1.2 -0.6 0.1 -0.3 -0.4 -0.3 -0.1 -0.4 0.3 0.0 0.027 Shares and other equity : -0.8 0.3 0.1 -0.1 0.8 0.0 -0.3 -0.1 0.1 0.0 0.6 0.1 0.0 0.1 0.0 0.028 Other financial assets : 0.1 0.3 0.1 0.2 0.3 1.8 -1.2 -0.2 0.7 -0.4 0.3 2.2 0.0 2.1 0.2 0.0

29=30+..+33 Net incurrence of liabilities : 1.1 0.1 11.3 13.3 6.9 1.6 1.3 -0.4 3.1 -4.4 4.6 2.8 -0.9 3.0 0.6 0.130 Currency and deposits : 0.0 0.0 0.7 0.2 -1.2 0.3 -0.7 -0.4 0.3 -0.4 0.2 0.2 -0.5 0.6 0.0 -31 Debt securities : 1.3 -0.1 5.8 -3.6 0.2 1.6 7.7 0.1 7.2 2.1 5.0 0.6 0.0 0.6 0.0 0.032 Loans : -0.3 0.1 4.1 15.8 8.0 -0.4 -5.3 -0.2 -4.6 -5.1 -0.8 1.1 -0.4 1.2 0.2 0.033 Other liabilities : 0.0 0.2 0.6 0.8 -0.1 0.0 -0.3 0.2 0.3 -0.9 0.1 1.0 0.0 0.6 0.4 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 3.2 1.1 1.6 0.5 3.8 1.4 2.6 -1.3 2.2 0.1 0.6 -0.8 0.0 -0.9 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.0 0.1 -0.2 -1.5 2.6 0.8 1.3 -0.6 4.3 1.4 0.4 -0.9 0.0 -0.8 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 3.2 1.0 1.8 2.0 1.3 0.7 1.2 -0.7 -2.1 -1.4 0.2 0.0 0.0 0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 182.9 125.5 83.6 85.4 76.0 82.1 86.2 87.7 81.8 78.7 79.9 : : : : :42 Other produced assets : : : : : : : 2.0 2.1 2.1 2.1 : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :



50=51+..+54 Liabilities : 14.5 14.4 22.8 41.3 52.8 49.0 48.1 45.2 51.0 46.6 50.3 48.5 -6.7 47.2 7.7 0.451 Currency and deposits : 0.0 0.3 0.8 1.2 2.5 2.4 1.5 1.0 1.3 0.9 1.1 1.2 -2.6 3.8 - -52 Debt securities : 7.1 8.5 10.3 9.7 10.6 11.2 19.5 17.9 26.7 29.1 33.3 30.9 0.0 30.9 0.0 0.053 Loans : 5.0 2.6 7.1 25.1 34.9 30.6 22.8 21.7 16.9 11.3 10.2 10.6 -3.8 8.7 5.7 0.054 Other liabilities : 2.4 3.0 4.6 5.2 4.9 4.8 4.3 4.5 6.2 5.3 5.7 5.8 -0.3 3.8 1.9 0.4

55=44-50 Financial net worth : 8.2 5.1 1.4 -5.4 -12.9 -15.2 -14.1 -15.3 -18.4 -20.6 -19.7 -18.8 -19.7 -1.3 2.256=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -1.4 -2.7 -0.4 -4.2 -9.1 -8.7 -4.3 -1.2 -1.2 -1.5 -1.4 0.1 -0.6 -0.7 -0.2 0.3

58=64(t)-64(t-1) Change in Government Debt 3.4 1.1 0.0 10.7 12.3 9.3 1.3 1.6 -0.6 3.3 -2.9 4.5 2.6 -0.9 3.3 0.2 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 2.0 -1.7 -0.4 6.5 3.2 0.6 -3.0 0.4 -1.7 1.8 -4.3 4.6 2.1 -0.9 2.6 0.0 0.3

60=23 Net acquisition of financial assets 2.6 -1.1 -0.3 7.0 4.2 -1.7 -2.9 0.1 -1.6 1.7 -5.7 4.6 2.2 -0.9 2.4 0.3 0.4

61=(-)33 Incurrence in liabilities not in government debt -0.3 0.0 -0.2 -0.6 -0.8 0.1 0.0 0.3 -0.2 -0.3 0.9 -0.1 -1.0 0.0 -0.6 -0.4 -0.1

62Valuation effects and other changes in volume in government debt : 0.0 0.1 0.0 -0.2 2.2 -0.3 0.0 0.1 0.5 0.5 0.1 0.8 0.0 0.8 0.0 0.0

63 Statistical discrepancies -0.3 -0.5 0.1 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 12.1 11.4 18.2 35.8 46.8 42.7 41.2 39.0 40.9 36.8 40.3 40.0 -6.4 40.9 5.5 0.0

65 . Currency and deposits : 0.0 0.3 0.8 1.2 2.5 2.4 1.5 1.0 1.3 0.9 1.1 1.2 -2.6 3.8 0.0 0.066=67+68 . Debt securities : 7.1 8.5 10.3 9.7 10.3 10.6 17.5 16.9 23.3 25.0 29.4 28.5 0.0 28.5 0.0 0.0





77=20+18-76 Net savings and capital transfers -6.7 -6.2 -1.1 -3.3 -8.6 -8.4 -3.9 -0.9 -0.9 -1.1 -0.6 -0.3 0.1 -0.3 0.0 0.378 GDP



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2=3+4+5 8.9 15.3 16.8 26.6 30.2 31.0 5.6 -29.0 2.7 12.2 12.0 6.3 5.7 4.9 8.2 7.23 5.8 20.4 13.8 29.8 28.6 26.0 -2.7 -19.9 4.1 12.6 11.3 7.1 6.5 5.3 7.2 5.74 13.9 7.7 21.5 21.8 32.7 38.7 17.7 -40.1 0.4 11.7 13.2 4.9 4.2 4.2 9.8 9.65 51.4 71.4 72.9 2000.0 24.2 -3.5 -18.4 10.1 8.5 20.1 20.7 20.3 13.9 10.76 11.7 6.5 13.7 18.2 28.1 28.9 11.7 -11.3 -12.0 12.9 8.5 2.3 3.1 2.8 2.0 9.47 32.9 13.9 62.8 9.4 32.8 8.6 12.3 9.3 -4.1 2.5 6.9 0.7 5.0 5.5 1.1 0.58 25.2 -7.3 44.7 1.4 79.6 -8.8 -4.3 8.8 20.1 9.7 -7.8 -4.5 -12.0 -14.5 6.0 43.79 121.3 -58.2 475.6 181.7 19.3 -10.2 35.6 -1.0 36.1 12.1 21.8 -5.1 2.0 9.0 -47.3 -4.7

10=11+..+18 13.7 8.2 20.1 21.3 32.6 24.6 19.4 -9.3 -1.9 0.7 1.1 3.5 4.7 3.3 -0.4 10.211 14.5 20.6 16.8 -1.1 18.2 17.9 22.9 -23.7 2.6 13.7 -0.3 6.6 1.5 3.7 -3.8 6.612 12.9 13.5 14.0 16.6 23.4 40.2 23.7 -18.7 -17.8 4.6 3.4 6.7 6.0 6.4 5.4 8.413 -10.6 15.6 10.2 -9.5 4.7 8.9 68.6 113.0 9.7 15.4 0.3 -6.8 0.1 -4.0 -21.3 -2.114 22.6 26.1 -15.4 9.2 50.2 86.0 70.3 -7.3 -20.1 -14.2 45.9 11.1 18.8 -24.3 -2.8 14.115 8.5 4.3 14.2 15.1 18.8 19.3 23.9 21.3 -2.4 -2.9 -0.2 4.9 2.1 7.4 5.6 4.6

15a 0.1 3.4 16.6 14.5 19.3 16.0 24.0 23.8 -2.7 -4.3 -0.9 5.0 2.3 5.9 4.3 4.616 153.5 -37.9 74.3 352.8 54.3 -8.8 40.2 -32.8 13.5 -38.6 45.6 -8.1 23.3 -12.6 8.0 8.417 13.2 -94.4 580.6 69.0 64.0 -87.1 1.5 776.8 92.3 -0.3 -81.5 22.1 -63.4 -12.3 -35.8 736.018 13.3 94.9 47.9 8.5 91.6 60.4 -15.5 -35.4 2.5 20.4 7.4 -3.0 4.9 10.6 -20.1 27.019 18.1 77.8 46.4 20.3 80.0 58.3 -5.9 -27.0 -7.5 19.6 4.9 -5.1 4.9 9.2 -22.6 32.2

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -3.2 4.1 6.3 -1.7 15.5 10.1 44.5 13.3 -4.4 -8.2 0.4 -4.7 5.8 -18.1 18.4 8.0

24 -21.9 10.8 39.2 -36.2 99.5 52.2 92.1 58.4 -0.9 -29.7 33.9 -17.6 20.2 -57.7 113.2 -3.525 -100.0 0.0 0.0 0.0 -17800.0 0.0 -92.0 -95.7 49725.0 -81.7 -69.8 2355.8 228.326 -5.9 4.2 -1.9 -1.0 -15.8 4.4 511.8 -2.1 -34.0 -24.5 -14.7 2.7 -13.2 -14.7 -13.5 -3.327 -2.8 -2.5 0.7 2.7 -4.8 0.6 1.7 -0.7 5.5 -0.1 -2.6 -0.7 0.7 -0.1 4.3 0.628 15.9 19.5 22.4 8.9 56.8 6.9 2.8 4.5 4.6 34.5 -16.2 -4.3 14.4 -7.2 4.3 32.4

29=30+..+33 10.1 16.9 17.3 1.0 24.7 16.5 96.4 45.1 16.0 3.3 2.9 -0.9 7.2 -8.9 10.2 6.030 176.2 -0.5 -18.3 -28.3 704.7 23.1 -92.7 12.4 -33.0 -30.3 30.0 -30.4 27.9 17.031 6.4 13.9 25.5 -1.7 -2.2 -6.5 130.9 -26.7 2.3 17.5 74.0 0.3 41.4 7.9 17.7 1.932 -2.5 17.7 -16.6 3.8 31.3 58.6 136.7 171.2 30.3 -1.2 -18.7 -1.1 -22.1 -31.2 -7.1 11.633 55.4 25.6 28.2 6.9 99.3 26.1 14.5 13.5 -2.4 0.4 -6.8 4.7 7.2 -15.7 2.5 18.2


35=44(t)-44(t-1)-23 15.4 0.6 1.8 5.8 2.8 11.1 10.3 1.6 10.2 4.1 8.2 -3.9 7.5 0.2 2.4 -3.036=50(t)-50(t-1)-29 2.1 4.0 2.9 0.4 0.8 -0.7 -1.7 -5.0 5.9 1.7 3.0 -1.3 9.9 2.9 0.9 -1.9

37=35-36 = 55(t)-55(t-1)-22 34.7 -4.5 -0.5 22.9 8.2 54.4 46.4 110.9 -22.8 -5.7 -8.6 4.9 14.5 7.6 -1.0 -0.2

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 -1.2 13.3 12.1 13.8 31.5 28.3 8.5 -31.2 3.0 18.8 9.6 -2.8 -0.4 4.6 : :42 : : : : : : : : : : : 6.2 3.3 4.7 : :43 : : : : : : : : : : : : : : : :

44=45+..+49 12.2 4.7 8.2 4.1 18.2 21.2 54.8 14.9 5.8 -4.1 8.6 -8.6 13.3 -17.9 20.8 5.045 -21.9 10.8 39.2 -34.6 104.8 52.3 89.4 58.5 2.5 -32.2 36.1 -17.5 23.7 -57.0 113.6 -4.146 -100.0 0.0 0.0 0.0 0.0 0.0 -92.0 -98.2 49558.3 -72.4 -93.1 2336.3 223.647 0.4 4.4 -5.4 -8.5 -20.6 14.4 488.2 -2.4 -13.5 -6.8 -28.1 -19.6 19.8 -15.6 -18.2 -5.348 24.0 -1.8 1.9 13.6 -0.4 21.3 22.3 2.5 11.6 1.9 22.8 -1.6 1.3 -7.3 5.0 1.0

48a -18.8 -9.9 47.1 -20.1 -48.1 1572.1 45.6 -13.449 7.0 19.9 31.7 8.8 56.4 4.9 6.9 6.5 10.5 45.8 -21.8 -13.5 38.4 10.6 13.6 20.7

50=51+..+54 12.3 21.0 20.2 1.4 25.5 15.8 94.6 40.2 21.8 5.0 5.9 -2.3 17.1 -6.0 11.1 4.151 176.2 -0.5 -18.3 -28.4 632.4 23.1 93.3 12.4 -32.7 -30.4 29.9 -30.4 27.9 17.052 10.7 19.0 29.7 -1.7 -2.2 -4.6 131.7 -26.7 3.6 19.7 87.7 -4.3 54.5 12.3 17.7 0.453 -3.8 17.4 -14.8 6.5 32.8 57.7 135.9 172.1 32.2 -0.8 -19.5 -1.0 -19.3 -31.1 -7.4 12.754 55.4 25.6 28.8 6.8 102.0 21.9 11.3 -12.5 -10.8 11.0 -3.7 10.4 40.9 -11.2 11.4 8.5

55=44-50 12.2 -18.8 -17.8 12.6 -2.5 41.1 -64.6 -401.9 129.1 33.1 -0.3 13.1 24.3 15.2 -1.3 2.956=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -18.6 -12.7 -7.7 -3.2 -5.4 -7.1 -56.3 -38.8 -23.1 -10.4 -3.0 -2.9 -4.0 -3.4 0.2 -1.5

58=64(t)-64(t-1) 5.9 19.9 18.3 0.1 5.3 11.2 143.5 52.2 24.7 3.1 4.1 -1.4 8.7 -7.4 12.7 7.159 = 57+58 = 60+..+63 -12.7 7.2 10.5 -3.1 -0.1 4.1 87.2 13.4 1.6 -7.3 1.1 -4.3 4.8 -10.8 12.9 5.5

60=23 -6.2 8.5 11.4 -2.8 26.6 19.4 93.1 17.7 -4.5 -7.0 0.3 -3.9 4.5 -14.4 13.0 6.0

61=(-)33 -8.2 -5.6 -6.4 -1.7 -26.2 -13.2 -8.0 -3.5 0.4 0.0 0.8 -0.5 -0.8 2.4 -0.4 -2.6

62 2.5 4.7 3.6 0.7 0.7 -0.5 0.2 -0.9 5.8 -0.6 0.1 0.2 1.2 1.3 0.2 2.1

63 -0.7 -0.5 1.9 0.7 -1.2 -1.6 1.9 0.1 -0.1 0.3 -0.1 -0.1 -0.1 0.0 0.1 0.064=65+66+69 5.9 19.9 18.3 0.1 5.3 11.2 143.5 52.2 24.7 3.1 4.1 -1.4 8.7 -7.4 12.7 7.1

65 176.2 -0.5 -18.3 -28.4 631.4 23.2 93.0 12.6 -32.7 -30.4 29.9 -30.5 27.7 16.766=67+68 10.7 19.0 29.7 -1.7 -2.2 -6.4 137.4 -27.5 1.6 16.6 77.9 0.5 42.4 10.6 21.0 4.6

67 36.3 43.7 51.3 -4.8 -30.1 -9.6 1919.0 -50.5 -33.3 -29.2 -29.2 3.0 -45.2 -42.5 -100.068 9.3 17.2 27.8 -1.4 0.5 -6.2 21.9 -2.7 20.6 30.4 95.4 0.4 47.8 11.8 22.4 4.6

69=70+71 -3.8 17.4 -14.8 6.5 32.8 56.9 135.5 171.3 30.3 -1.7 -19.3 -1.0 -19.4 -31.1 -7.4 13.370 16.1 1501.0 -95.2 34.0 -6.8 1049.7 152.0 -6.3 -92.5 -51.0 -86.0 414.9 2448.7 65.6 -2.4 328.071 -4.0 -5.2 5.9 6.2 33.4 46.6 134.2 186.9 33.8 -1.6 -19.3 -1.0 -21.2 -33.3 -7.7 -5.972 : : : : : : : :73 : : : : : : : :

74=45+46+48a -21.9 27.0 21.5 -34.6 104.8 52.3 89.4 58.9 6.5 -34.5 35.5 -14.6 20.2 -55.5 113.5 -1.2

Table C - Memorandum items75 12.9 16.5 9.1 10.8 21.3 35.4 21.2 -25.9 -8.0 12.2 2.7 5.9 2.8 5.4 3.6 7.176 -0.7 15.8 15.6 17.1 31.1 26.1 7.4 -30.4 7.8 19.2 8.1 -0.5 0.2 1.3 4.3 0.0

77=20+18-7678 12.6 13.8 15.7 23.1 25.8 32.1 7.8 -22.7 -4.7 13.2 7.8 4.1 3.6 3.0 2.9 8.0

79 1.0 1.0 1.5 0.5 0.5 2.5 1.9 -7.1 -6.6 1.1 3.2 -0.5 -3.2 -3.3 -1.1 0.6



Lithuania




2=3+4+5 Taxes 1,587 2,792 4,234 6,809 4,715 4,614 4,989 5,3333 . Indirect taxes 934 1,673 2,355 3,791 3,114 3,319 3,629 3,7244 . Direct taxes 653 1,119 1,878 3,017 1,598 1,294 1,359 1,6085 . Capital taxes 0 1 1 2 2 1 1 16 Social contributions 560 1,365 1,926 3,226 3,521 3,398 3,583 3,7257 Sales (incl . own account capital formation) 67 227 364 581 570 608 556 6188 Other current revenue 350 486 403 488 439 594 673 6809 Capital revenue 0 -28 159 341 393 707 686 635

10=11+..+18 Total expenditure 2,685 5,266 7,157 12,454 12,091 11,855 13,284 12,04011 Intermediate consumption 705 971 1,166 1,820 1,523 1,758 1,585 1,64212 Compensation of employees 748 1,608 2,153 3,476 3,410 3,059 3,197 3,24213 Interest 27 232 161 214 333 510 576 65914 Subsidies 80 105 142 221 170 138 123 10515 Social benefits 760 1,723 2,339 4,321 4,891 4,546 4,523 4,573

15a of which other than transfers in kind 635 1,535 1,958 3,756 4,355 4,009 3,903 3,98816 Other current expenditure 9 19 381 484 451 349 502 47217 Capital transfers payable 96 290 83 130 111 122 1,394 9118 Capital investments 261 320 733 1,789 1,200 1,374 1,384 1,25719 of which, gross fixed capital formation 251 324 757 1,759 1,189 1,391 1,479 1,326

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -120 -426 -72 -1,008 -2,453 -1,934 -2,796 -1,049


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -23 1 14 -11 -22 15 -18

22=23-29 Net financial transactions : -403 -73 -1,022 -2,441 -1,912 -2,811 -1,03123=24+..+28 Net acquisition of financial assets : 83 122 -639 566 684 -1,231 600

24 Currency and deposits : 160 100 -737 732 401 -1,090 85025 Debt securities : 0 5 15 44 30 -111 -1026 Loans : 117 -49 -23 -35 -56 -177 627 Shares and other equity : -230 -66 -6 -223 -66 -8 -6728 Other financial assets : 35 132 111 47 375 155 -179

29=30+..+33 Net incurrence of liabilities : 486 195 383 3,007 2,596 1,580 1,63230 Currency and deposits : 23 -25 0 2 3 3 18831 Debt securities : 460 463 -139 2,141 1,975 1,225 1,15632 Loans : -134 -140 275 636 645 274 32233 Other liabilities : 137 -103 247 228 -27 78 -35


35=44(t)-44(t-1)-23 Other changes in financial assets : -81 456 -355 92 75 -243 2336=50(t)-50(t-1)-29 Other changes in liabilities : -14 61 -416 590 954 -23 1,161

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -67 395 61 -498 -879 -220 -1,137

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets : 11,801 14,132 19,663 18,965 19,680 21,034 22,32042 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets : 6,929 7,018 7,746 8,403 9,163 7,688 8,31245 Currency and deposits : 694 1,103 1,079 1,804 2,372 1,177 2,02646 Debt securities : 0 23 48 92 133 11 147 Loans : 1,012 457 348 307 269 81 8748 Shares and other equity : 4,986 4,960 5,274 5,156 4,784 4,581 4,485

48a of which, Investment fund shares : 0 0 0 0 0 0 049 Other financial assets : 237 475 997 1,044 1,605 1,838 1,712

50=51+..+54 Liabilities : 4,603 5,229 5,597 9,193 12,744 14,301 17,09351 Currency and deposits : 38 71 0 2 5 8 19552 Debt securities : 1,721 3,458 3,683 6,413 9,119 10,293 12,70353 Loans : 1,461 526 637 1,273 1,923 2,198 2,52054 Other liabilities : 1,383 1,174 1,276 1,506 1,697 1,802 1,675

55=44-50 Financial net worth : 2,326 1,789 2,149 -790 -3,581 -6,613 -8,78256=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -120 -426 -72 -1,008 -2,453 -1,934 -2,796 -1,049

58=64(t)-64(t-1) Change in Government Debt 489 254 297 152 2,766 2,622 1,478 1,63559 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 369 -171 225 -856 314 688 -1,317 586

60=23 Net acquisition of financial assets 306 83 122 -639 566 684 -1,231 600

61=(-)33 Incurrence in liabilities not in government debt -48 -137 103 -247 -228 27 -78 35

62 Valuation effects and other changes in volume in government debt 15 -94 0 16 -12 -1 -24 -30

63 Statistical discrepancies 95 -23 1 14 -11 -22 15 -1864=65+66+69 Government debt (nominal / face value) : 3,140 3,702 4,762 7,529 10,151 11,629 13,264



69=70+71 . Loans : 1,448 524 627 1,239 1,887 2,157 2,47270 .. short term : 57 147 99 15 297 442 43971 .. long term : 1,390 377 528 1,224 1,590 1,714 2,03372 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : 694 1,126 1,127 1,896 2,504 1,188 2,027

Table C - Memorandum items75 Government final consumption expenditure 1,862 2,995 3,886 6,101 5,720 5,563 5,737 5,83176 Consumption of fixed capital 348 450 545 815 817 813 886 962

77=20+18-76 Net savings and capital transfers -208 -556 116 -34 -2,069 -1,373 -2,297 -75478 GDP 7,765 13,368 21,002 32,696 26,935 28,028 31,275 33,349




Lithuania




2=3+4+5 5,579 5,918 6,377 6,728 7,179 7,031 148 03 3,841 4,080 4,344 4,533 4,915 4,773 141 04 1,736 1,837 2,032 2,194 2,263 2,258 5 05 1 1 1 1 2 - 2 -6 3,893 4,174 4,456 4,844 5,300 127 1 5,1737 709 760 769 818 838 625 200 138 594 598 674 645 595 -3,340 1,053 2,757 1259 721 992 690 312 254 -227 257 227 -3

10=11+..+18 12,408 12,667 13,064 13,245 13,960 -3,567 9,175 3,246 5,10611 1,620 1,710 1,868 1,846 1,928 1,148 746 3312 3,338 3,462 3,605 3,802 4,011 2,179 1,760 7213 615 587 569 517 471 -111 470 1 11114 116 119 148 162 144 109 12 2315 4,508 4,545 4,672 4,903 5,305 1,234 179 3,892

15a 3,954 3,968 4,054 4,260 4,628 1,229 91 3,30716 560 522 558 647 597 -3,229 2,729 126 97117 451 506 273 185 168 -227 382 14 018 1,201 1,217 1,372 1,182 1,336 924 408 419 1,309 1,283 1,375 1,171 1,344 931 408 4

Government deficit

20=1-10 -912 -226 -97 102 206 -81 87 201


21=20-22 -17 -4 -15 -3 -24 -20 -2 -1

22=23-29 -895 -222 -83 105 230 -61 89 20223=24+..+28 -370 1,262 456 -55 1,204 -1 1,263 10 -68

24 -484 1,211 126 -380 1,291 0 1,247 25 1925 0 50 -49 0 0 0 0 0 026 6 8 32 20 -9 -78 69 0 -27 -3 -1 64 68 37 0 36 0 028 111 -6 284 237 -115 77 -89 -15 -87

29=30+..+33 525 1,485 538 -161 974 -1 1,324 -79 -27030 53 59 228 7 -121 0 -122 - -31 -43 1,196 786 -221 1,574 0 1,574 - -32 304 29 78 -182 -387 -78 -12 -84 -21433 211 202 -554 235 -91 77 -117 5 -56


35=44(t)-44(t-1)-23 -151 950 803 319 138 0 234 -95 036=50(t)-50(t-1)-29 -818 942 431 62 -894 0 -894 0 0

37=35-36 = 55(t)-55(t-1)-22 668 8 372 257 1,032 1,127 -95 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 23,309 23,860 23,875 : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 7,791 10,003 11,261 11,525 12,867 -3,826 14,576 1,399 71745 1,512 2,718 2,839 2,454 3,745 0 3,012 293 44146 1 51 2 2 2 0 2 0 047 91 98 130 150 140 -3,716 3,857 0 -48 4,398 5,209 5,874 6,140 6,278 0 5,287 991 0

48a 0 0 0 0 0 : : :49 1,790 1,927 2,417 2,780 2,703 -109 2,420 115 277

50=51+..+54 16,800 19,226 20,196 20,098 20,178 -3,826 19,288 730 3,98651 248 307 535 542 421 0 421 - -52 11,845 14,001 15,218 15,060 15,740 0 15,740 - -53 2,821 2,850 2,928 2,746 2,359 -3,716 1,810 578 3,68654 1,886 2,068 1,515 1,749 1,658 -109 1,316 152 299

55=44-50 -9,009 -9,224 -8,935 -8,573 -7,310 -4,711 669 -3,26856=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -912 -227 -97 102 206 -81 87 201

58=64(t)-64(t-1) 287 1,277 1,112 -424 1,099 -79 1,471 -81 -21359 = 57+58 = 60+..+63 -626 1,050 1,015 -322 1,305 -79 1,390 6 -12

60=23 -370 1,262 456 -55 1,204 -1 1,264 10 -68

61=(-)33 -211 -202 554 -235 91 -77 117 -5 56

62 -28 -7 20 -46 29 -1 26 4 1

63 -17 -4 -15 15 -19 0 -16 -2 -164=65+66+69 13,551 14,827 15,940 15,515 16,614 -3,713 16,091 553 3,683

65 246 305 533 541 421 0 421 - -66=67+68 10,534 11,726 12,530 12,278 13,881 0 13,881 - -

67 312 208 0 0 0 0 0 - -68 10,222 11,518 12,530 12,278 13,881 0 13,881 - -

69=70+71 2,770 2,796 2,876 2,696 2,313 -3,712 1,790 553 3,68370 435 456 323 3 2 0 0 2 071 2,335 2,340 2,553 2,693 2,311 -3,712 1,790 550 3,68372 0 0 0 0 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 1,513 2,769 2,840 2,456 3,747 : : :

Table C - Memorandum items75 5,837 6,073 6,427 6,597 6,918 3,311 2,924 68376 1,026 1,074 1,103 1,119 1,139 603 530 6

77=20+18-76 -738 -83 172 165 403 240 -35 19978 34,960 36,568 37,434 38,849 42,191

79 307 305 305 303 300

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Lithuania




2=3+4+5 Taxes 20.4 20.9 20.2 20.8 17.5 16.5 16.0 16.0 16.0 16.2 17.0 17.3 17.0 16.7 0.3 0.03 . Indirect taxes 12.0 12.5 11.2 11.6 11.6 11.8 11.6 11.2 11.0 11.2 11.6 11.7 11.6 11.3 0.3 0.04 . Direct taxes 8.4 8.4 8.9 9.2 5.9 4.6 4.3 4.8 5.0 5.0 5.4 5.6 5.4 5.4 0.0 0.05 . Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 0.0 -6 Social contributions 7.2 10.2 9.2 9.9 13.1 12.1 11.5 11.2 11.1 11.4 11.9 12.5 12.6 0.3 0.0 12.37 Sales (incl. own account capital formation) 0.9 1.7 1.7 1.8 2.1 2.2 1.8 1.9 2.0 2.1 2.1 2.1 2.0 1.5 0.5 0.08 Other current revenue 4.5 3.6 1.9 1.5 1.6 2.1 2.2 2.0 1.7 1.6 1.8 1.7 1.4 -7.9 2.5 6.5 0.39 Capital revenue 0.0 -0.2 0.8 1.0 1.5 2.5 2.2 1.9 2.1 2.7 1.8 0.8 0.6 -0.5 0.6 0.5 0.0



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -1.5 -3.2 -0.3 -3.1 -9.1 -6.9 -8.9 -3.1 -2.6 -0.6 -0.3 0.3 0.5 -0.2 0.2 0.5


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.2 0.0 0.0 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 0.0

22=23-29 Net financial transactions : -3.0 -0.3 -3.1 -9.1 -6.8 -9.0 -3.1 -2.6 -0.6 -0.2 0.3 0.5 -0.1 0.2 0.523=24+..+28 Net acquisition of financial assets : 0.6 0.6 -2.0 2.1 2.4 -3.9 1.8 -1.1 3.5 1.2 -0.1 2.9 0.0 3.0 0.0 -0.2

24 Currency and deposits : 1.2 0.5 -2.3 2.7 1.4 -3.5 2.5 -1.4 3.3 0.3 -1.0 3.1 0.0 3.0 0.1 0.025 Debt securities : 0.0 0.0 0.0 0.2 0.1 -0.4 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 0.0 0.0 0.026 Loans : 0.9 -0.2 -0.1 -0.1 -0.2 -0.6 0.0 0.0 0.0 0.1 0.1 0.0 -0.2 0.2 0.0 -27 Shares and other equity : -1.7 -0.3 0.0 -0.8 -0.2 0.0 -0.2 0.0 0.0 0.2 0.2 0.1 0.0 0.1 0.0 0.028 Other financial assets : 0.3 0.6 0.3 0.2 1.3 0.5 -0.5 0.3 0.0 0.8 0.6 -0.3 0.2 -0.2 0.0 -0.2

29=30+..+33 Net incurrence of liabilities : 3.6 0.9 1.2 11.2 9.3 5.1 4.9 1.5 4.1 1.4 -0.4 2.3 0.0 3.1 -0.2 -0.630 Currency and deposits : 0.2 -0.1 0.0 0.0 0.0 0.0 0.6 0.2 0.2 0.6 0.0 -0.3 0.0 -0.3 - -31 Debt securities : 3.4 2.2 -0.4 8.0 7.0 3.9 3.5 -0.1 3.3 2.1 -0.6 3.7 0.0 3.7 - -32 Loans : -1.0 -0.7 0.8 2.4 2.3 0.9 1.0 0.9 0.1 0.2 -0.5 -0.9 -0.2 0.0 -0.2 -0.533 Other liabilities : 1.0 -0.5 0.8 0.8 -0.1 0.2 -0.1 0.6 0.6 -1.5 0.6 -0.2 0.2 -0.3 0.0 -0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : -0.6 2.2 -1.1 0.3 0.3 -0.8 0.1 -0.4 2.6 2.1 0.8 0.3 0.0 0.6 -0.2 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -0.1 0.3 -1.3 2.2 3.4 -0.1 3.5 -2.3 2.6 1.2 0.2 -2.1 0.0 -2.1 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -0.5 1.9 0.2 -1.8 -3.1 -0.7 -3.4 1.9 0.0 1.0 0.7 2.4 2.7 -0.2 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : 88.3 67.3 60.1 70.4 70.2 67.3 66.9 66.7 65.2 63.8 : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 51.8 33.4 23.7 31.2 32.7 24.6 24.9 22.3 27.4 30.1 29.7 30.5 -9.1 34.5 3.3 1.745 Currency and deposits : 5.2 5.3 3.3 6.7 8.5 3.8 6.1 4.3 7.4 7.6 6.3 8.9 0.0 7.1 0.7 1.046 Debt securities : 0.0 0.1 0.1 0.3 0.5 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.047 Loans : 7.6 2.2 1.1 1.1 1.0 0.3 0.3 0.3 0.3 0.3 0.4 0.3 -8.8 9.1 0.0 -48 Shares and other equity : 37.3 23.6 16.1 19.1 17.1 14.6 13.4 12.6 14.2 15.7 15.8 14.9 0.0 12.5 2.3 0.0


50=51+..+54 Liabilities : 34.4 24.9 17.1 34.1 45.5 45.7 51.3 48.1 52.6 54.0 51.7 47.8 -9.1 45.7 1.7 9.451 Currency and deposits : 0.3 0.3 0.0 0.0 0.0 0.0 0.6 0.7 0.8 1.4 1.4 1.0 0.0 1.0 - -52 Debt securities : 12.9 16.5 11.3 23.8 32.5 32.9 38.1 33.9 38.3 40.7 38.8 37.3 0.0 37.3 - -53 Loans : 10.9 2.5 1.9 4.7 6.9 7.0 7.6 8.1 7.8 7.8 7.1 5.6 -8.8 4.3 1.4 8.754 Other liabilities : 10.3 5.6 3.9 5.6 6.1 5.8 5.0 5.4 5.7 4.0 4.5 3.9 -0.3 3.1 0.4 0.7

55=44-50 Financial net worth : 17.4 8.5 6.6 -2.9 -12.8 -21.1 -26.3 -25.8 -25.2 -23.9 -22.1 -17.3 -11.2 1.6 -7.756=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -1.5 -3.2 -0.3 -3.1 -9.1 -6.9 -8.9 -3.1 -2.6 -0.6 -0.3 0.3 0.5 -0.2 0.2 0.5

58=64(t)-64(t-1) Change in Government Debt 6.3 1.9 1.4 0.5 10.3 9.4 4.7 4.9 0.8 3.5 3.0 -1.1 2.6 -0.2 3.5 -0.2 -0.559 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 4.7 -1.3 1.1 -2.6 1.2 2.5 -4.2 1.8 -1.8 2.9 2.7 -0.8 3.1 -0.2 3.3 0.0 0.0

60=23 Net acquisition of financial assets 3.9 0.6 0.6 -2.0 2.1 2.4 -3.9 1.8 -1.1 3.5 1.2 -0.1 2.9 0.0 3.0 0.0 -0.2

61=(-)33 Incurrence in liabilities not in government debt -0.6 -1.0 0.5 -0.8 -0.8 0.1 -0.2 0.1 -0.6 -0.6 1.5 -0.6 0.2 -0.2 0.3 0.0 0.1

62Valuation effects and other changes in volume in government debt 0.2 -0.7 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.1 0.0 0.1 -0.1 0.1 0.0 0.1 0.0 0.0

63 Statistical discrepancies 1.2 -0.2 0.0 0.0 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 23.5 17.6 14.6 28.0 36.2 37.2 39.8 38.8 40.5 42.6 39.9 39.4 -8.8 38.1 1.3 8.7

65 . Currency and deposits : 0.3 0.3 0.0 0.0 0.0 0.0 0.6 0.7 0.8 1.4 1.4 1.0 0.0 1.0 - -66=67+68 . Debt securities : 12.4 14.8 12.6 23.3 29.5 30.3 31.8 30.1 32.1 33.5 31.6 32.9 0.0 32.9 - -

67 .. short term : 2.0 1.2 0.9 1.1 1.2 0.7 1.0 0.9 0.6 0.0 0.0 0.0 0.0 0.0 - -68 .. long term : 10.4 13.6 11.8 22.3 28.3 29.5 30.8 29.2 31.5 33.5 31.6 32.9 0.0 32.9 - -




77=20+18-76 Net savings and capital transfers -2.7 -4.2 0.6 -0.1 -7.7 -4.9 -7.3 -2.3 -2.1 -0.2 0.5 0.4 1.0 0.6 -0.1 0.578 GDP



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2=3+4+5 6.4 8.1 11.2 17.0 18.7 19.7 13.2 -30.8 -2.1 8.1 6.9 4.6 6.1 7.8 5.5 6.73 8.9 3.0 5.1 15.5 15.7 24.0 12.2 -17.8 6.6 9.3 2.6 3.1 6.2 6.5 4.4 8.44 2.4 16.5 20.2 19.0 22.4 14.5 14.5 -47.0 -19.0 5.0 18.3 8.0 5.8 10.6 8.0 3.15 1.1 -52.0 57.0 35.5 79.6 50.2 -3.1 1.1 -37.9 -9.1 19.3 7.0 3.8 7.4 2.8 13.76 3.3 7.7 11.8 12.2 17.8 20.6 17.9 9.1 -3.5 5.4 4.0 4.5 7.2 6.8 8.7 9.47 49.7 11.9 10.2 39.0 -12.6 32.8 37.9 -1.9 6.6 -8.6 11.1 14.9 7.2 1.2 6.2 2.58 -17.2 -16.6 -6.5 41.1 -12.1 18.3 16.6 -10.1 35.2 13.4 1.0 -12.7 0.7 12.8 -4.3 -7.79 -250.3 17.3 35.0 121.8 44.9 78.5 -17.1 15.2 80.0 -2.9 -7.5 13.6 37.5 -30.4 -54.8 -18.8

10=11+..+18 1.5 4.8 10.9 15.3 15.4 23.9 21.6 -2.9 -1.9 12.0 -9.4 3.1 2.1 3.1 1.4 5.411 11.3 3.6 3.1 14.6 20.0 6.0 22.6 -16.3 15.4 -9.9 3.6 -1.3 5.5 9.2 -1.1 4.412 3.9 4.2 10.2 9.4 16.3 13.2 22.6 -1.9 -10.3 4.5 1.4 3.0 3.7 4.1 5.5 5.513 -7.1 3.7 -20.5 -1.8 4.5 14.5 11.3 55.6 53.0 12.9 14.4 -6.6 -4.6 -3.1 -9.1 -8.914 0.5 8.1 -3.0 12.9 14.2 57.9 -13.6 -22.8 -19.0 -11.2 -14.5 10.3 2.7 24.3 9.8 -11.015 -2.6 7.7 9.1 14.5 11.7 24.9 32.4 13.2 -7.1 -0.5 1.1 -1.4 0.8 2.8 4.9 8.2

15a -5.2 7.3 9.1 10.1 12.8 27.0 33.9 15.9 -7.9 -2.6 2.2 -0.9 0.3 2.2 5.1 8.616 -56.6 35.5 305.6 169.2 -19.7 25.9 25.6 -6.8 -22.6 43.8 -6.0 18.6 -6.9 6.9 16.0 -7.817 -48.7 -46.0 44.8 -20.1 15.1 169.2 -49.6 -14.5 9.7 1046.6 -93.5 394.4 12.2 -46.0 -32.4 -8.818 42.6 10.5 26.3 14.0 38.5 54.4 14.2 -32.9 14.5 0.8 -9.2 -4.4 1.3 12.7 -13.8 13.119 39.7 13.6 28.2 15.2 35.9 52.8 11.9 -32.4 17.0 6.3 -10.3 -1.3 -2.0 7.2 -14.9 14.8

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 1.1 -2.4 -3.3 1.9 2.0 3.2 -7.3 7.3 8.1 -13.4 7.8 -4.5 16.2 4.6 -0.5 10.4

24 22.0 14.9 -8.2 10.0 65.8 -1.1 -40.6 67.9 22.2 -46.0 72.2 -23.9 80.1 4.6 -13.4 52.625 1.2 27.0 39.8 0.3 45.9 93.5 32.8 -83.7 -90.8 0.0 4808.6 -97.1 0.0 0.726 -5.8 -3.2 -11.2 -10.3 -8.4 -1.8 -6.3 -10.1 -18.3 -65.7 7.2 6.7 8.5 32.2 15.1 -6.227 -2.2 -7.0 -2.8 -1.4 -13.3 -0.4 -0.1 -4.2 -1.3 -0.2 -1.5 -0.1 0.0 1.2 1.2 0.628 13.9 3.6 24.0 38.5 22.3 52.3 12.5 4.7 35.9 9.6 -9.7 6.5 -0.3 14.7 9.8 -4.1

29=30+..+33 5.4 1.1 0.6 3.9 3.6 9.3 6.8 53.7 28.2 12.4 11.4 3.1 8.8 2.8 -0.8 4.830 174.4 29.5 -46.3 -26.5 -100.0 165.1 54.3 2464.8 27.0 23.7 74.3 1.4 -22.431 19.8 12.6 11.8 15.7 21.3 12.6 -3.2 58.1 30.8 13.4 11.2 -0.3 10.1 5.6 -1.5 10.432 -14.9 -12.2 -22.4 -21.7 -24.7 -8.7 76.0 99.8 50.7 14.3 14.7 12.1 1.0 2.7 -6.2 -14.133 -0.8 -10.4 0.7 -8.0 -29.3 2.6 27.8 17.9 -1.8 4.6 -1.9 12.6 10.7 -26.8 15.5 -5.2


35=44(t)-44(t-1)-23 -9.8 10.2 8.4 7.1 12.1 6.0 -4.1 1.2 0.9 -2.7 0.3 -1.8 12.2 8.0 2.8 1.236=50(t)-50(t-1)-29 -3.2 -3.2 3.9 1.2 -2.5 -2.8 -7.4 10.5 10.4 -0.2 8.1 -4.8 5.6 2.2 0.3 -4.4

37=35-36 = 55(t)-55(t-1)-22 -31.1 88.9 23.8 26.9 54.8 23.1 2.0 -23.2 111.2 6.1 17.2 -7.6 -0.1 -4.0 -2.9 -12.0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 0.9 3.7 6.7 8.8 12.9 16.1 6.2 -3.6 3.8 6.9 6.1 4.4 2.4 0.1 : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -8.7 7.8 5.1 9.0 14.1 9.2 -11.4 8.5 9.0 -16.1 8.1 -6.3 28.4 12.6 2.3 11.645 18.3 15.0 -8.2 10.0 66.1 -0.9 -40.6 67.2 31.4 -50.4 72.1 -25.4 79.8 4.4 -13.5 52.646 -9.9 32.8 23.8 17.2 43.9 93.2 44.2 -91.8 -90.7 5.0 4755.2 -97.1 0.0 0.747 -16.7 -14.8 -15.5 -3.2 -13.8 -7.7 -4.2 -11.7 -12.4 -69.9 7.7 3.9 8.4 32.2 15.1 -6.248 -13.4 9.6 10.1 7.7 4.2 9.1 -6.5 -2.2 -7.2 -4.2 -2.1 -2.0 18.4 12.8 4.5 2.3

48a49 13.5 4.1 24.0 38.5 22.3 52.5 12.5 4.7 53.8 14.5 -6.8 4.5 7.6 25.4 15.0 -2.8

50=51+..+54 2.2 -2.1 4.5 5.1 1.1 6.5 -0.6 64.3 38.6 12.2 19.5 -1.7 14.4 5.0 -0.5 0.451 174.4 29.5 -46.3 -26.5 -100.0 165.6 54.3 2465.0 27.0 23.7 74.3 1.4 -22.452 17.6 8.6 19.6 17.1 16.3 8.8 -15.9 74.1 42.2 12.9 23.4 -6.8 18.2 8.7 -1.0 4.553 -22.9 -18.6 -23.9 -18.8 -24.7 -8.5 76.0 99.7 51.1 14.3 14.7 12.0 1.0 2.7 -6.2 -14.154 -0.8 -10.1 1.2 -8.0 -26.2 2.6 43.5 18.0 12.7 6.2 -7.1 12.6 9.7 -26.8 15.5 -5.2

55=44-50 -44.0 65.6 7.2 21.9 52.1 14.3 -30.9 -136.8 353.2 84.6 32.8 2.6 2.4 -3.1 -4.1 -14.756=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 3.6 0.9 0.3 8.7 12.2 11.0 3.3 58.1 34.8 14.6 14.1 2.2 9.4 7.5 -2.7 7.159 = 57+58 = 60+..+63 -5.1 -5.4 -7.2 6.6 10.4 5.3 -18.6 6.6 9.1 -13.0 5.0 -4.7 7.7 6.8 -2.0 8.4

60=23 2.1 -4.1 -5.9 3.6 3.8 6.1 -13.9 11.9 9.1 -12.1 5.2 -2.8 9.3 3.1 -0.3 7.8

61=(-)33 0.4 4.3 -0.3 3.0 9.3 -0.5 -5.4 -4.8 0.4 -0.8 0.3 -1.6 -1.5 3.7 -1.5 0.6

62 -4.7 -5.1 -0.2 0.0 -2.3 -0.3 0.4 -0.3 0.0 -0.2 -0.3 -0.2 0.0 0.1 -0.3 0.2

63 -2.9 -0.5 -0.8 0.0 -0.5 0.0 0.3 -0.2 -0.3 0.2 -0.2 -0.1 0.0 -0.1 0.1 -0.164=65+66+69 3.6 0.9 0.3 8.7 12.2 11.0 3.3 58.1 34.8 14.6 14.1 2.2 9.4 7.5 -2.7 7.1

65 174.4 29.5 -46.9 -28.4 -100.0 158.1 57.9 2458.7 26.9 23.9 75.0 1.5 -22.366=67+68 18.1 8.3 12.4 16.7 20.8 13.1 -2.7 52.1 31.4 14.6 12.0 -0.6 11.3 6.9 -2.0 13.1

67 11.0 -6.0 -45.8 215.5 -65.8 21.2 161.8 0.3 16.4 -29.6 46.3 -8.7 -33.4 -100.068 18.7 9.4 16.5 10.3 28.8 12.9 -7.0 55.9 32.1 16.4 11.1 -0.3 12.7 8.8 -2.0 13.1

69=70+71 -22.8 -18.6 -23.8 -18.7 -24.8 -8.9 74.7 97.5 52.2 14.3 14.6 12.1 0.9 2.9 -6.3 -14.270 -41.7 472.1 31.7 31.5 -92.9 -2.3 866.8 -85.1 1897.5 49.2 -0.8 -0.9 4.9 -29.3 -99.0 -22.071 -22.5 -25.7 -30.0 -29.2 1.8 -9.1 51.4 131.9 29.9 7.8 18.6 14.9 0.2 9.1 5.5 -14.272 : : : : : : : :73 : : : : : : : :

74=45+46+48a 18.3 17.0 -8.2 10.4 65.3 -0.6 -39.1 68.3 32.1 -52.6 70.6 -25.4 83.0 2.6 -13.5 52.6

Table C - Memorandum items75 4.1 4.3 7.3 11.2 18.5 10.0 20.4 -6.2 -2.7 3.1 1.6 0.1 4.0 5.8 2.7 4.976 -0.9 6.3 5.1 9.8 11.6 15.6 16.1 0.2 -0.5 9.0 8.6 6.7 4.6 2.7 1.5 1.8

77=20+18-7678 7.1 9.6 9.4 15.2 14.6 20.6 12.6 -17.6 4.1 11.6 6.6 4.8 4.6 2.4 3.8 8.6

79 -1.2 -1.2 0.6 0.9 0.3 1.2 -1.2 -1.8 -3.7 -0.6 -1.0 -0.6 -0.7 0.0 -0.7 -1.0



Luxembourg




2=3+4+5 Taxes 4,097 6,363 8,192 10,020 9,915 10,696 11,346 12,0093 . Indirect taxes 1,769 3,056 4,039 4,704 4,598 4,915 5,298 5,6614 . Direct taxes 2,312 3,284 4,109 5,263 5,264 5,731 6,004 6,2775 . Capital taxes 15 23 44 53 52 50 43 716 Social contributions 1,789 2,528 3,584 4,452 4,741 4,886 5,234 5,5567 Sales (incl . own account capital formation) 517 637 874 1,045 1,127 1,161 1,163 1,2368 Other current revenue 415 536 431 847 627 689 738 7689 Capital revenue 20 22 30 37 33 33 28 24

10=11+..+18 Total expenditure 6,417 8,727 13,087 15,135 16,692 17,729 18,287 19,44011 Intermediate consumption 558 788 1,128 1,313 1,475 1,545 1,568 1,71912 Compensation of employees 1,531 1,934 2,714 3,155 3,390 3,596 3,788 3,99713 Interest 94 87 67 145 149 166 202 23014 Subsidies 193 273 379 472 481 504 527 60715 Social benefits 2,885 3,907 6,059 7,263 8,018 8,345 8,610 9,185

15a of which other than transfers in kind 2,306 3,020 4,558 5,540 6,153 6,389 6,605 7,05116 Other current expenditure 371 637 811 951 1,003 1,115 1,306 1,41617 Capital transfers payable 190 227 463 445 538 549 490 53318 Capital investments 596 874 1,467 1,390 1,638 1,908 1,798 1,75319 of which, gross fixed capital formation 590 888 1,496 1,401 1,634 1,894 1,780 1,754

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 421 1,359 23 1,266 -249 -264 221 152


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -263 -48 -142 130 375 35 461

22=23-29 Net financial transactions : 1,622 72 1,408 -379 -639 187 -30923=24+..+28 Net acquisition of financial assets : 1,763 9 4,747 -1,416 2,177 480 762

24 Currency and deposits : 1,518 -131 1,320 -2,130 1,483 -156 26925 Debt securities : 14 -262 427 742 -1,152 -82 60126 Loans : 23 -7 27 122 -98 -7 29827 Shares and other equity : 41 -11 2,410 946 1,419 501 53628 Other financial assets : 167 421 564 -1,096 524 224 -942

29=30+..+33 Net incurrence of liabilities : 141 -63 3,339 -1,037 2,817 293 1,07230 Currency and deposits : -5 20 16 17 13 14 1631 Debt securities : -38 -128 2,009 -1 2,039 -1 1,01432 Loans : 88 274 801 114 122 110 49233 Other liabilities : 96 -228 514 -1,167 642 170 -450


35=44(t)-44(t-1)-23 Other changes in financial assets : 226 678 -2,006 1,027 379 -672 1,72836=50(t)-50(t-1)-29 Other changes in liabilities : 0 -6 34 47 3 165 265

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 226 684 -2,040 980 376 -837 1,463

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 15,321 19,834 29,092 28,703 31,260 31,067 33,55845 Currency and deposits : 7,320 8,154 6,919 4,790 6,273 6,117 6,38646 Debt securities : 429 957 6,505 7,323 6,089 6,163 6,92447 Loans : 1,082 854 879 1,055 957 950 1,24848 Shares and other equity : 3,478 5,646 9,525 11,355 13,210 12,976 15,007


50=51+..+54 Liabilities : 3,946 5,312 9,523 8,533 11,353 11,811 13,14851 Currency and deposits : 31 124 202 219 232 246 26252 Debt securities : 877 262 2,045 2,090 4,132 4,296 5,45753 Loans : 831 1,838 3,482 3,596 3,718 3,828 4,43854 Other liabilities : 2,207 3,087 3,794 2,627 3,271 3,440 2,992


Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) 421 1,359 23 1,266 -249 -264 221 152

58=64(t)-64(t-1) Change in Government Debt : : 165 2,816 131 2,135 124 1,62559 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 189 4,082 -118 1,871 345 1,777





65 . Currency and deposits : 31 124 202 219 232 246 26266=67+68 . Debt securities : 810 255 2,001 2,001 4,001 4,001 5,001

67 .. short term : 0 0 0 0 0 0 068 .. long term : 810 255 2,001 2,001 4,001 4,001 5,001

69=70+71 . Loans : 831 1,838 3,482 3,596 3,718 3,828 4,43870 .. short term : 74 347 384 408 491 482 43671 .. long term : 757 1,492 3,098 3,188 3,227 3,346 4,00272 Intergovernmental lending (asset)* : : : : 0 55 183 51673 Intergovernmental lending (borrowing)* : : : : 130 72 39 26


Table C - Memorandum items75 Government final consumption expenditure 2,511 3,436 5,147 5,969 6,454 6,842 7,178 7,64476 Consumption of fixed capital 303 404 591 736 785 833 912 950

77=20+18-76 Net savings and capital transfers 714 1,829 900 1,920 603 811 1,107 95678 GDP 15,777 23,079 30,031 38,129 36,977 40,178 43,165 44,112




Luxembourg




2=3+4+5 12,666 13,421 13,735 14,450 15,238 14,367 871 03 5,991 6,550 6,205 6,352 6,585 6,523 63 04 6,603 6,798 7,456 8,012 8,542 7,734 808 05 72 74 74 86 111 111 0 06 5,787 5,940 6,231 6,460 6,916 884 4 6,0287 1,320 1,377 1,473 1,490 1,554 988 528 388 795 798 858 796 846 -5,542 463 1,186 4,7399 31 29 32 27 33 -363 155 221 20

10=11+..+18 20,145 20,909 21,643 22,354 23,824 -5,906 17,202 2,728 9,80011 1,736 1,764 1,905 1,999 2,055 1,381 603 7112 4,177 4,338 4,546 4,633 4,972 3,910 940 12213 253 211 186 175 191 -1 191 0 114 672 721 731 683 718 616 102 015 9,723 10,123 10,306 10,498 11,168 1,693 35 9,440

15a 7,402 7,714 7,918 8,124 8,612 1,630 5 6,97716 1,471 1,481 1,600 1,687 1,887 -5,541 7,299 101 2817 439 403 414 499 545 -363 735 51 12318 1,675 1,868 1,953 2,180 2,288 1,377 896 1519 1,628 1,820 2,007 2,098 2,240 1,335 891 15

Government deficit

20=1-10 454 656 686 869 764 -344 82 1,025


21=20-22 -35 -98 -91 -47 -38 3 -40 0

22=23-29 488 753 777 916 801 -347 122 1,02623=24+..+28 1,709 1,209 1,368 313 2,551 -127 1,598 65 1,015

24 511 621 378 -776 1,813 0 1,520 -28 32025 675 89 706 347 484 0 29 0 45426 58 -33 -94 -51 -39 19 -23 0 -3527 441 227 -250 862 404 0 68 4 33328 23 304 627 -70 -111 -146 3 90 -58

29=30+..+33 1,221 456 591 -603 1,750 -127 1,945 -57 -1030 12 -14 11 9 9 0 9 0 031 1,068 202 2 2 1,993 0 1,993 0 032 248 134 105 -432 -336 19 -285 -70 033 -107 133 473 -182 84 -146 228 13 -10


35=44(t)-44(t-1)-23 1,141 1,680 38 878 79 0 -221 20 28136=50(t)-50(t-1)-29 -274 700 1 82 -194 0 -194 0 0

37=35-36 = 55(t)-55(t-1)-22 1,414 980 37 796 273 -27 20 281

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 28,043 29,244 30,276 31,322 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 36,407 39,296 40,702 41,892 44,523 -833 20,993 3,236 21,12645 6,897 7,518 7,897 7,121 8,933 0 4,055 1,956 2,92346 7,285 7,952 8,705 9,189 9,271 0 124 0 9,14847 1,306 1,274 1,180 1,129 1,090 -175 1,035 52 17848 16,716 18,227 18,176 19,840 20,475 0 12,599 756 7,119

48a 49 30 122 346 569 : : :49 4,203 4,325 4,744 4,614 4,753 -658 3,180 472 1,758

50=51+..+54 14,095 15,251 15,842 15,321 16,877 -833 15,412 1,163 1,13551 274 260 272 281 290 0 290 0 052 6,247 7,150 7,149 7,231 9,031 0 9,031 0 053 4,685 4,820 4,925 4,493 4,157 -175 3,374 956 254 2,888 3,021 3,496 3,316 3,400 -658 2,718 207 1,133

55=44-50 22,312 24,045 24,860 26,571 27,646 5,581 2,073 19,99156=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 454 656 686 869 764 -344 82 1,025

58=64(t)-64(t-1) 1,310 321 116 -422 1,673 19 1,724 -70 059 = 57+58 = 60+..+63 1,763 977 803 447 2,436 19 1,380 12 1,025

60=23 : 1,209 1,368 313 2,551 -127 1,598 65 1,015

61=(-)33 : -133 -473 182 -84 146 -228 -13 10

62 : -2 -2 -2 7 0 7 0 0

63 : -98 -91 -47 -38 0 3 -40 064=65+66+69 11,010 11,331 11,447 11,024 12,697 -175 11,914 956 2

65 274 260 272 281 290 0 290 - -66=67+68 6,051 6,251 6,251 6,251 8,251 0 8,251 0 0

67 0 0 0 0 0 0 0 0 068 6,051 6,251 6,251 6,251 8,251 0 8,251 0 0

69=70+71 4,685 4,820 4,925 4,493 4,157 -175 3,374 956 270 444 464 476 466 191 -52 155 87 171 4,241 4,356 4,449 4,027 3,965 -123 3,218 869 172 617 643 614 614 614 : : :73 26 25 23 22 21 : : :

74=45+46+48a 14,231 15,500 16,723 16,656 18,774 : : :

Table C - Memorandum items75 8,062 8,340 8,674 8,885 9,458 5,284 1,517 2,65776 1,069 1,120 1,173 1,230 1,300 842 441 18

77=20+18-76 1,059 1,403 1,467 1,820 1,751 191 537 1,02378 46,500 49,825 51,579 53,303 55,299

79 48 49 50 51 53

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Luxembourg







Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 2.7 5.9 0.1 3.3 -0.7 -0.7 0.5 0.3 1.0 1.3 1.3 1.6 1.4 -0.6 0.1 1.9


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -1.1 -0.2 -0.4 0.4 0.9 0.1 1.0 -0.1 -0.2 -0.2 -0.1 -0.1 0.0 -0.1 0.0

22=23-29 Net financial transactions : 7.0 0.2 3.7 -1.0 -1.6 0.4 -0.7 1.0 1.5 1.5 1.7 1.4 -0.6 0.2 1.923=24+..+28 Net acquisition of financial assets : 7.6 0.0 12.5 -3.8 5.4 1.1 1.7 3.7 2.4 2.7 0.6 4.6 -0.2 2.9 0.1 1.8

24 Currency and deposits : 6.6 -0.4 3.5 -5.8 3.7 -0.4 0.6 1.1 1.2 0.7 -1.5 3.3 0.0 2.7 -0.1 0.625 Debt securities : 0.1 -0.9 1.1 2.0 -2.9 -0.2 1.4 1.5 0.2 1.4 0.7 0.9 0.0 0.1 0.0 0.826 Loans : 0.1 0.0 0.1 0.3 -0.2 0.0 0.7 0.1 -0.1 -0.2 -0.1 -0.1 0.0 0.0 0.0 -0.127 Shares and other equity : 0.2 0.0 6.3 2.6 3.5 1.2 1.2 0.9 0.5 -0.5 1.6 0.7 0.0 0.1 0.0 0.628 Other financial assets : 0.7 1.4 1.5 -3.0 1.3 0.5 -2.1 0.0 0.6 1.2 -0.1 -0.2 -0.3 0.0 0.2 -0.1

29=30+..+33 Net incurrence of liabilities : 0.6 -0.2 8.8 -2.8 7.0 0.7 2.4 2.6 0.9 1.1 -1.1 3.2 -0.2 3.5 -0.1 0.030 Currency and deposits : 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities : -0.2 -0.4 5.3 0.0 5.1 0.0 2.3 2.3 0.4 0.0 0.0 3.6 0.0 3.6 0.0 0.032 Loans : 0.4 0.9 2.1 0.3 0.3 0.3 1.1 0.5 0.3 0.2 -0.8 -0.6 0.0 -0.5 -0.1 0.033 Other liabilities : 0.4 -0.8 1.3 -3.2 1.6 0.4 -1.0 -0.2 0.3 0.9 -0.3 0.2 -0.3 0.4 0.0 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : 1.0 2.3 -5.3 2.8 0.9 -1.6 3.9 2.5 3.4 0.1 1.6 0.1 0.0 -0.4 0.0 0.536=50(t)-50(t-1)-29 Other changes in liabilities : 0.0 0.0 0.1 0.1 0.0 0.4 0.6 -0.6 1.4 0.0 0.2 -0.4 0.0 -0.4 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 1.0 2.3 -5.4 2.7 0.9 -1.9 3.3 3.0 2.0 0.1 1.5 0.5 0.0 0.0 0.5

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 57.2 52.6 60.2 56.5 61.2 59.7 59.3 61.4 60.3 58.7 58.7 58.8 : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 66.4 66.0 76.3 77.6 77.8 72.0 76.1 78.3 78.9 78.9 78.6 80.5 -1.5 38.0 5.9 38.245 Currency and deposits : 31.7 27.2 18.1 13.0 15.6 14.2 14.5 14.8 15.1 15.3 13.4 16.2 0.0 7.3 3.5 5.346 Debt securities : 1.9 3.2 17.1 19.8 15.2 14.3 15.7 15.7 16.0 16.9 17.2 16.8 0.0 0.2 0.0 16.547 Loans : 4.7 2.8 2.3 2.9 2.4 2.2 2.8 2.8 2.6 2.3 2.1 2.0 -0.3 1.9 0.1 0.348 Shares and other equity : 15.1 18.8 25.0 30.7 32.9 30.1 34.0 35.9 36.6 35.2 37.2 37.0 0.0 22.8 1.4 12.9


50=51+..+54 Liabilities : 17.1 17.7 25.0 23.1 28.3 27.4 29.8 30.3 30.6 30.7 28.7 30.5 -1.5 27.9 2.1 2.151 Currency and deposits : 0.1 0.4 0.5 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.0 0.5 0.0 0.052 Debt securities : 3.8 0.9 5.4 5.7 10.3 10.0 12.4 13.4 14.3 13.9 13.6 16.3 0.0 16.3 0.0 0.053 Loans : 3.6 6.1 9.1 9.7 9.3 8.9 10.1 10.1 9.7 9.5 8.4 7.5 -0.3 6.1 1.7 0.054 Other liabilities : 9.6 10.3 10.0 7.1 8.1 8.0 6.8 6.2 6.1 6.8 6.2 6.1 -1.2 4.9 0.4 2.0

55=44-50 Financial net worth : 49.3 48.4 51.3 54.5 49.5 44.6 46.3 48.0 48.3 48.2 49.8 50.0 10.1 3.7 36.256=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) 2.7 5.9 0.1 3.3 -0.7 -0.7 0.5 0.3 1.0 1.3 1.3 1.6 1.4 -0.6 0.1 1.9

58=64(t)-64(t-1) Change in Government Debt : : 0.6 7.4 0.4 5.3 0.3 3.7 2.8 0.6 0.2 -0.8 3.0 0.0 3.1 -0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 0.6 10.7 -0.3 4.7 0.8 4.0 3.8 2.0 1.6 0.8 4.4 0.0 2.5 0.0 1.9

60=23 Net acquisition of financial assets : : : : : : : : : 2.4 2.7 0.6 4.6 -0.2 2.9 0.1 1.8

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.3 -0.9 0.3 -0.2 0.3 -0.4 0.0 0.0


63 Statistical discrepancies : : : : : : : : : -0.2 -0.2 -0.1 -0.1 0.0 0.0 -0.1 0.064=65+66+69 Government debt (nominal / face value) : 7.2 7.4 14.9 15.7 19.8 18.7 22.0 23.7 22.7 22.2 20.7 23.0 -0.3 21.5 1.7 0.0

65 . Currency and deposits : 0.1 0.4 0.5 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.0 0.5 - -66=67+68 . Debt securities : 3.5 0.8 5.2 5.4 10.0 9.3 11.3 13.0 12.5 12.1 11.7 14.9 0.0 14.9 0.0 0.0





77=20+18-76 Net savings and capital transfers 4.5 7.9 3.0 5.0 1.6 2.0 2.6 2.2 2.3 2.8 2.8 3.4 3.2 0.3 1.0 1.878 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Luxembourg



Government revenue and expenditure1=2+6+7+8+9 4.8 4.1 3.9 10.3 7.3 10.9 5.1 0.3 6.2 6.0 5.9 5.1 4.7 3.5 4.0 5.9

2=3+4+5 4.6 4.0 3.1 12.6 6.6 11.6 2.9 -1.1 7.9 6.1 5.8 5.5 6.0 2.3 5.2 5.53 1.8 4.8 13.2 9.9 5.8 12.6 -2.2 -2.2 6.9 7.8 6.8 5.8 9.3 -5.3 2.4 3.74 6.9 2.9 -5.5 15.5 7.3 10.7 7.8 0.0 8.9 4.8 4.5 5.2 3.0 9.7 7.5 6.65 36.5 47.2 -14.7 8.1 7.9 -1.9 14.6 -1.9 -4.1 -13.4 63.7 1.0 2.6 0.6 15.9 28.96 5.7 7.0 5.7 7.5 5.9 9.3 7.2 6.5 3.1 7.1 6.1 4.2 2.7 4.9 3.7 7.17 7.2 6.1 8.2 3.8 5.8 5.6 7.0 7.9 3.0 0.2 6.3 6.8 4.3 7.0 1.1 4.38 -2.2 -16.1 -2.2 5.6 38.6 18.2 20.0 -26.0 9.9 7.1 4.1 3.5 0.3 7.6 -7.3 6.49 12.5 31.8 -18.5 11.3 -48.9 77.2 36.2 -11.3 0.1 -15.6 -14.2 29.5 -5.9 11.8 -17.5 24.3

10=11+..+18 14.2 9.8 7.5 6.9 2.5 4.8 7.7 10.3 6.2 3.1 6.3 3.6 3.8 3.5 3.3 6.611 12.9 9.0 4.8 7.8 0.9 3.6 11.3 12.3 4.8 1.5 9.7 0.9 1.6 8.0 4.9 2.812 7.4 7.1 6.5 6.5 5.1 5.2 5.1 7.4 6.1 5.4 5.5 4.5 3.9 4.8 1.9 7.313 -6.7 -10.7 -15.4 11.0 25.9 40.4 23.3 2.7 11.6 21.3 14.3 9.7 -16.5 -11.7 -5.9 8.914 6.6 9.7 5.5 11.7 5.4 15.3 2.6 1.9 4.7 4.6 15.1 10.8 7.4 1.4 -6.6 5.115 9.9 10.9 6.7 7.8 4.9 4.5 9.4 10.4 4.1 3.2 6.7 5.9 4.1 1.8 1.9 6.4

15a 10.8 11.5 4.6 7.2 5.3 4.0 10.9 11.1 3.8 3.4 6.8 5.0 4.2 2.6 2.6 6.016 3.6 6.4 29.0 -6.2 6.8 -0.3 10.2 5.5 11.2 17.1 8.5 3.9 0.7 8.1 5.4 11.817 5.9 16.6 32.8 2.3 -2.0 10.4 -11.0 20.9 2.0 -10.8 8.8 -17.6 -8.3 2.9 20.4 9.218 87.2 12.3 -1.4 11.8 -14.3 2.7 7.6 17.8 16.5 -5.8 -2.5 -4.5 11.5 4.6 11.6 4.919 13.1 12.4 -0.2 12.8 -24.6 17.2 5.9 16.6 15.9 -6.0 -1.5 -7.2 11.8 10.3 4.5 6.8

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 4.6 3.9 1.2 0.0 4.0 10.1 18.0 -4.9 7.6 1.5 2.5 5.1 3.3 3.5 0.8 6.1

24 5.7 11.9 5.1 -1.6 14.4 -40.0 23.6 -30.8 31.0 -2.5 4.4 8.0 9.0 5.0 -9.8 25.525 5.2 -16.6 -16.9 -21.9 -3.6 580.7 7.0 11.4 -15.7 -1.3 9.8 9.8 1.2 8.9 4.0 5.326 -7.5 -12.1 -8.1 -0.8 -0.7 0.5 3.2 13.9 -9.3 -0.8 31.4 4.7 -2.5 -7.4 -4.3 -3.427 0.3 0.7 1.2 -0.2 -6.3 5.3 26.4 9.9 12.5 3.8 4.1 2.9 1.4 -1.4 4.7 2.028 12.5 6.8 2.5 11.1 0.6 10.7 12.0 -20.8 12.5 4.7 -19.4 0.6 7.2 14.5 -1.5 -2.4

29=30+..+33 7.0 11.7 11.1 -1.2 7.0 8.3 54.3 -10.9 33.0 2.6 9.1 9.3 3.2 3.9 -3.8 11.430 15.6 -25.7 27.5 19.1 35.2 11.0 8.4 8.4 6.1 6.0 6.3 4.7 -5.0 4.4 3.5 3.131 -11.4 -35.2 -5.2 -32.4 -68.3 -98.4 0.0 97.5 0.0 23.6 19.6 3.2 0.0 0.0 27.632 12.0 31.0 17.6 17.5 29.8 12.3 29.9 3.3 3.4 3.0 12.9 5.6 2.9 2.2 -8.8 -7.533 11.2 18.0 10.1 -6.9 -1.3 7.7 15.7 -30.8 24.5 5.2 -13.1 -3.6 4.6 15.6 -5.2 2.5


35=44(t)-44(t-1)-23 -0.2 2.0 2.0 3.5 10.1 6.4 -7.6 3.5 1.3 -2.1 5.6 3.4 4.6 0.1 2.2 0.236=50(t)-50(t-1)-29 -1.0 -0.2 -0.2 -0.1 -0.1 0.0 0.5 0.5 0.0 1.5 2.2 -2.1 5.0 0.0 0.5 -1.3

37=35-36 = 55(t)-55(t-1)-22 0.1 2.8 2.8 5.0 13.8 8.5 -10.1 5.0 1.9 -4.2 7.6 6.9 4.4 0.2 3.2 1.0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 8.1 7.3 7.8 8.8 5.3 6.4 6.5 5.0 5.9 6.8 5.7 3.6 4.3 3.5 3.5 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 4.5 5.9 3.2 3.6 14.1 16.4 10.4 -1.3 8.9 -0.6 8.0 8.5 7.9 3.6 2.9 6.345 6.1 11.9 5.1 -1.6 14.4 -40.0 23.6 -30.8 31.0 -2.5 4.4 8.0 9.0 5.0 -9.8 25.546 6.2 -15.8 -20.1 -20.0 -7.1 581.3 7.4 12.6 -16.9 1.2 12.4 5.2 9.2 9.5 5.6 0.947 -7.5 -12.1 -8.1 -0.8 -0.7 0.5 3.2 20.0 -9.3 -0.8 31.4 4.7 -2.5 -7.4 -4.3 -3.448 -1.4 8.9 10.4 12.9 29.6 24.9 4.2 19.2 16.3 -1.8 15.6 11.4 9.0 -0.3 9.2 3.2

48a -32.4 480.0 152.3 -76.7 46.4 39.3 -38.7 302.8 185.0 64.349 12.5 6.8 2.5 11.1 0.6 10.7 12.0 -20.6 13.2 2.8 -17.9 5.2 2.9 9.7 -2.8 3.0

50=51+..+54 6.0 11.5 10.9 -1.3 6.9 8.3 54.9 -10.4 33.0 4.0 11.3 7.2 8.2 3.9 -3.3 10.251 15.6 -25.7 27.5 19.1 35.2 11.0 8.4 8.4 6.1 6.0 6.3 4.7 -5.0 4.4 3.5 3.152 -16.3 -36.6 -7.2 -33.8 -71.1 -99.0 2.2 97.7 4.0 27.0 14.5 14.4 0.0 1.1 24.953 12.0 31.0 17.6 17.5 29.8 12.3 29.9 3.3 3.4 3.0 15.9 5.6 2.9 2.2 -8.8 -7.554 11.2 18.0 10.1 -6.9 -1.3 7.7 15.6 -30.8 24.5 5.2 -13.0 -3.5 4.6 15.7 -5.2 2.5

55=44-50 3.9 4.0 0.4 5.5 16.7 19.2 -3.1 3.1 -1.3 -3.3 6.0 9.3 7.8 3.4 6.9 4.056=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 35.3 2.8 -19.7 1.1 29.5 58.7 44.1 -4.4 -4.5 2.8 1.9 4.7 6.0 6.1 7.6 6.9

58=64(t)-64(t-1) 1.8 2.8 12.9 8.1 18.6 9.1 98.2 2.3 36.7 1.6 20.1 13.5 2.9 1.0 -3.7 15.259 = 57+58 = 60+..+63 37.1 5.6 -6.8 9.2 48.1 67.7 142.3 -2.1 32.2 4.3 22.0 18.2 8.9 7.1 3.9 22.1

60=23 : : : : : : : : : : : : 11.0 12.1 2.7 23.1

61=(-)33 : : : : : : : : : : : : -1.2 -4.2 1.6 -0.8

62 : : : : : : : : : : : : 0.0 0.0 0.0 0.1

63 : : : : : : : : : : : : -0.9 -0.8 -0.4 -0.364=65+66+69 1.8 2.8 12.9 8.1 18.6 9.1 98.2 2.3 36.7 1.6 20.1 13.5 2.9 1.0 -3.7 15.2

65 15.6 -25.7 27.5 19.1 35.2 11.0 8.4 8.4 6.1 6.0 6.3 4.7 -5.0 4.4 3.5 3.166=67+68 -12.5 -36.9 -5.5 -33.5 -70.4 -99.0 0.0 100.0 0.0 25.0 21.0 3.3 0.0 0.0 32.0

6768 -12.5 -36.9 -5.5 -33.5 -70.4 -99.0 0.0 100.0 0.0 25.0 21.0 3.3 0.0 0.0 32.0

69=70+71 12.0 31.0 17.6 17.5 29.8 12.3 29.9 3.3 3.4 3.0 15.9 5.6 2.9 2.2 -8.8 -7.570 18.8 133.1 73.5 -27.9 -3.0 3.0 10.9 6.2 20.4 -1.9 -9.5 1.8 4.5 2.6 -2.1 -58.971 11.1 17.4 2.8 37.6 37.5 13.9 32.7 2.9 1.2 3.7 19.6 6.0 2.7 2.1 -9.5 -1.572 : : : : : : : : 235.4 181.7 19.5 4.2 -4.6 0.0 0.073 : : : : : : : : -44.8 -45.2 -32.6 -1.1 -3.7 -9.0 -5.1 -1.5

74=45+46+48a 6.1 6.3 1.1 -3.9 12.1 14.2 15.1 -9.5 2.6 -1.3 8.5 6.6 8.9 7.9 -0.4 12.7


77=20+18-7678 5.6 4.4 6.7 7.5 12.6 10.0 2.6 -3.0 8.7 7.4 2.2 5.4 7.2 3.5 3.3 3.7

79 6.5 3.0 2.9 2.9 2.8 0.0 2.7 5.3 10.0 4.5 2.2 2.1 2.1 2.0 2.0 3.9



Hungary




2=3+4+5 Taxes 1,499,480 3,471,540 5,446,568 7,010,322 6,852,755 6,874,508 6,657,147 7,278,2853 . Indirect taxes 1,004,827 2,182,351 3,452,318 4,200,805 4,300,071 4,737,851 4,880,614 5,323,8134 . Direct taxes 491,533 1,282,079 1,973,356 2,792,991 2,539,015 2,127,905 1,769,071 1,946,9625 . Capital taxes 3,120 7,110 20,894 16,526 13,669 8,752 7,462 7,5106 Social contributions 851,026 1,748,993 2,781,064 3,667,952 3,411,895 3,247,064 3,686,046 3,733,9807 Sales (incl . own account capital formation) 217,563 402,871 658,405 861,677 868,795 881,127 869,647 914,4128 Other current revenue 131,232 208,019 375,541 534,736 655,650 688,566 659,684 765,2149 Capital revenue 14,838 53,536 117,904 154,926 339,560 515,248 612,444 585,709

10=11+..+18 Total expenditure 3,216,288 6,289,062 11,132,603 13,230,666 13,327,938 13,424,928 14,017,434 13,968,19211 Intermediate consumption 453,463 878,110 1,412,694 1,908,184 2,021,249 2,087,649 2,070,859 2,102,98912 Compensation of employees 676,565 1,415,027 2,772,682 3,082,873 2,958,065 2,935,949 2,866,690 2,849,51313 Interest 509,090 702,066 915,916 1,100,330 1,185,246 1,115,254 1,172,418 1,314,42914 Subsidies 125,258 219,113 297,976 300,121 248,674 292,695 348,101 397,14615 Social benefits 1,006,369 2,013,941 3,914,252 4,940,695 4,967,151 4,921,097 5,033,656 4,989,764

15a of which other than transfers in kind 866,956 1,674,869 3,203,503 4,215,263 4,234,071 4,238,205 4,311,330 4,346,85216 Other current expenditure 63,174 221,133 566,157 671,623 710,320 689,113 763,054 770,15517 Capital transfers payable 360,426 382,944 335,282 389,582 337,624 388,712 821,282 466,97518 Capital investments 21,943 456,728 917,644 837,258 899,609 994,459 941,374 1,077,22119 of which, gross fixed capital formation 32,764 474,584 938,071 868,946 905,257 995,657 945,860 1,071,609

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -502,149 -404,103 -1,753,121 -1,001,053 -1,199,283 -1,218,415 -1,532,466 -690,593


21=20-22Statistical discrepancy(non-financial minus financial accounts) 49,334 -4,335 15,233 -86,929 -8,393 1,876 -12,615 34,238

22=23-29 Net financial transactions -551,483 -399,768 -1,768,354 -914,124 -1,190,890 -1,220,291 -1,519,851 -724,83123=24+..+28 Net acquisition of financial assets 362,267 -238,526 -472,284 1,367,130 -100,788 -462,626 1,160,033 -271,523

24 Currency and deposits 190,105 -92,360 -79,829 1,487,312 -663,101 -203,906 137,879 98,11125 Debt securities -2,700 11,171 -620 -1,201 -104 13,870 55,585 47,78326 Loans -17,024 -55,732 82,864 25,959 525,532 -239,047 -154,324 -56,40027 Shares and other equity 164,011 -25,596 -518,921 -165,781 25,307 -1,789 1,211,450 -212,37528 Other financial assets 27,875 -76,009 44,222 20,841 11,578 -31,754 -90,557 -148,642

29=30+..+33 Net incurrence of liabilities 913,750 161,242 1,296,070 2,281,254 1,090,102 757,665 2,679,884 453,30830 Currency and deposits 450 2,107 -11,787 5,110 -26,957 6,510 -470 10,95131 Debt securities 327,930 588,334 1,262,454 504,970 -804,218 456,895 -249,368 1,467,14232 Loans 586,550 -352,608 -31,457 1,888,198 1,936,261 345,163 -190,710 -991,65633 Other liabilities -1,180 -76,591 76,860 -117,024 -14,984 -50,903 3,120,432 -33,129


35=44(t)-44(t-1)-23 Other changes in financial assets : 252,829 777,182 479,832 251,802 516,217 1,188,936 -783,52536=50(t)-50(t-1)-29 Other changes in liabilities : 244,325 274,077 -184,466 722,204 330,691 785,069 927,187

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 8,504 503,105 664,298 -470,402 185,526 403,867 -1,710,712

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 7,589,000 18,387,000 24,106,000 29,961,000 30,780,000 31,403,000 32,125,000 32,917,00042 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets 3,649,073 3,824,541 5,252,523 6,879,220 7,030,234 7,083,825 9,432,794 8,377,74645 Currency and deposits 670,315 446,817 624,032 2,384,431 1,789,818 1,672,163 1,952,412 1,976,16046 Debt securities 0 11,861 1,185 991 754 15,255 68,141 117,55147 Loans 211,148 318,568 424,268 324,378 794,182 581,050 448,094 370,02948 Shares and other equity 2,508,861 2,257,829 3,127,936 2,898,298 2,979,419 3,114,743 4,940,508 4,115,466

48a of which, Investment fund shares 0 10,366 17,052 10,457 11,514 10,064 264,516 162,85649 Other financial assets 258,749 789,466 1,075,102 1,271,122 1,466,061 1,700,614 2,023,639 1,798,540

50=51+..+54 Liabilities 5,097,112 8,211,516 15,250,768 20,617,441 22,429,747 23,518,103 26,983,056 28,363,55151 Currency and deposits 460 23,308 33,199 43,129 16,626 23,689 23,358 34,24952 Debt securities 1,736,291 5,252,232 12,436,448 15,375,742 15,044,734 15,546,961 15,375,932 18,171,66653 Loans 3,203,439 2,475,573 1,516,548 3,685,045 5,554,971 6,198,979 6,688,077 5,305,69254 Other liabilities 156,922 460,403 1,264,573 1,513,525 1,813,416 1,748,474 4,895,689 4,851,944

55=44-50 Financial net worth -1,448,039 -4,386,975 -9,998,245 -13,738,221 -15,399,513 -16,434,278 -17,550,262 -19,985,80556=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -502,149 -404,103 -1,753,121 -1,001,053 -1,199,283 -1,218,415 -1,532,466 -690,593

58=64(t)-64(t-1) Change in Government Debt 998,605 388,899 1,253,909 2,652,297 1,103,806 1,277,994 933,053 -223,82659 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 496,456 -15,204 -499,212 1,651,244 -95,477 59,579 -599,413 -914,419

60=23 Net acquisition of financial assets 362,267 -238,526 -472,284 1,367,130 -100,788 -462,626 1,160,033 -271,523

61=(-)33 Incurrence in liabilities not in government debt 1,180 76,591 -76,860 117,024 14,984 50,903 -3,120,432 33,129

62 Valuation effects and other changes in volume in government debt 83,675 151,066 34,699 254,019 -1,280 469,426 1,373,601 -710,263

63 Statistical discrepancies 49,334 -4,335 15,233 -86,929 -8,393 1,876 -12,615 34,23864=65+66+69 Government debt (nominal / face value) 4,900,605 7,377,569 13,643,767 19,465,604 20,569,410 21,847,404 22,780,457 22,556,631

65 . Currency and deposits 460 23,064 33,082 43,062 16,626 23,689 23,358 34,24966=67+68 . Debt securities 1,708,346 5,107,730 12,085,981 15,750,305 15,032,831 15,711,907 16,232,981 17,302,248

67 .. short term 465,427 1,241,678 2,043,248 1,951,030 2,020,031 1,861,544 1,800,734 2,597,49068 .. long term 1,242,919 3,866,052 10,042,733 13,799,275 13,012,800 13,850,363 14,432,247 14,704,758

69=70+71 . Loans 3,191,799 2,246,775 1,524,704 3,672,237 5,519,953 6,111,808 6,524,118 5,220,13470 .. short term 25,991 25,179 104,909 161,154 122,025 403,774 578,744 463,99471 .. long term 3,165,808 2,221,596 1,419,795 3,511,083 5,397,928 5,708,034 5,945,374 4,756,14072 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets 670,315 469,044 642,269 2,395,879 1,802,086 1,697,482 2,285,069 2,256,567

Table C - Memorandum items75 Government final consumption expenditure 1,332,581 2,805,751 4,983,646 5,802,039 5,821,954 5,855,120 5,846,573 5,755,94476 Consumption of fixed capital 280,703 574,761 748,890 943,932 977,128 1,014,222 1,038,715 1,057,641

77=20+18-76 Net savings and capital transfers -760,909 -522,136 -1,584,367 -1,107,727 -1,276,802 -1,238,178 -1,629,807 -671,01378 GDP 5,835,633 13,350,074 22,559,880 27,193,630 26,424,604 27,224,599 28,304,938 28,781,064




Hungary



Government revenue and expenditure1=2+6+7+8+9 14,140,112 15,265,676 16,564,731 16,013,982 17,140,560 -2,973,851 12,191,181 2,426,879 5,496,351

2=3+4+5 7,556,031 8,189,528 8,812,953 9,078,294 9,750,583 8,773,835 845,977 130,7713 5,558,081 5,975,844 6,413,343 6,433,650 6,902,742 5,968,667 803,303 130,7714 1,990,762 2,204,138 2,388,411 2,630,647 2,829,405 2,787,005 42,400 05 7,188 9,546 11,199 13,997 18,436 18,163 273 06 3,907,469 4,204,093 4,490,105 4,820,189 4,899,982 367,811 3,924 4,528,2477 1,061,960 1,096,591 1,201,450 1,286,292 1,417,998 1,146,240 271,273 4858 835,581 824,835 709,574 628,694 608,352 -2,589,465 1,459,960 990,703 747,1549 779,071 950,629 1,350,650 200,513 463,644 -384,386 443,334 315,003 89,693

10=11+..+18 14,930,695 16,114,933 17,218,560 16,598,403 17,989,748 -2,973,851 13,043,535 2,400,189 5,519,87511 2,225,186 2,474,390 2,581,712 2,655,324 3,034,571 2,266,943 742,993 24,63412 3,030,176 3,339,398 3,596,862 3,860,170 4,175,364 3,229,434 936,405 9,52513 1,368,140 1,310,337 1,217,633 1,144,118 1,066,166 -7,208 984,753 3,546 85,07514 389,353 421,571 427,234 479,003 531,711 453,501 78,210 015 5,121,016 5,137,159 5,100,825 5,179,190 5,323,545 939,622 41,085 4,342,838

15a 4,453,223 4,491,711 4,476,171 4,532,174 4,671,662 847,546 40,347 3,783,77016 997,120 1,037,725 1,041,533 1,296,896 1,242,676 -2,582,256 2,619,490 149,541 1,055,90217 468,306 625,525 985,532 989,588 978,830 -384,387 1,274,877 88,339 018 1,331,398 1,768,828 2,267,230 994,113 1,636,886 1,274,914 360,071 1,90019 1,320,754 1,739,650 2,256,867 1,096,855 1,733,597 1,373,460 358,386 1,751

Government deficit

20=1-10 -790,583 -849,257 -653,829 -584,419 -849,189 -852,354 26,690 -23,524


21=20-22 -33,758 -41,543 -5,432 -27,743 2,794 3,511 -3,863 3,147

22=23-29 -756,825 -807,714 -648,397 -556,676 -851,983 -855,865 30,553 -26,67123=24+..+28 -154,748 409,449 386,770 334,015 208,576 -816,246 419,616 590,424 14,782

24 -385,095 184,640 -282,318 707,243 -223,104 -161,605 -480,630 423,943 -4,81225 54,491 -113,752 -556 -33,089 -3,179 -121,328 -2,103 120,252 026 87,937 187,626 289,623 112,540 126,623 -57,490 183,570 579 -3627 -105,495 123,909 132,699 13,126 57,021 0 44,217 12,804 028 193,414 27,026 247,322 -465,805 251,215 -475,823 674,562 32,846 19,630

29=30+..+33 602,077 1,217,163 1,035,167 890,691 1,060,559 -816,246 1,275,481 559,871 41,45330 23,986 -6,893 82,284 -8,177 -30,689 -161,605 130,916 - -31 1,650,180 1,953,505 812,623 1,040,301 1,567,405 -121,328 1,691,424 -2,691 032 -1,118,359 -827,314 377,863 -421,614 -397,279 -57,490 -434,168 52,652 41,72733 46,270 97,865 -237,603 280,181 -78,878 -475,823 -112,691 509,910 -274


35=44(t)-44(t-1)-23 30,200 856,079 1,213,323 509,249 -208,832 2,513 -256,023 44,674 436=50(t)-50(t-1)-29 474,174 2,037,890 465,986 204,234 -331,965 2,513 -333,770 -708 0

37=35-36 = 55(t)-55(t-1)-22 -443,974 -1,181,811 747,337 305,015 123,133 77,747 45,382 4

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 33,753,000 34,921,000 36,852,000 : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 8,253,198 9,518,726 11,118,819 11,962,083 11,961,827 -1,357,785 10,237,270 2,591,833 490,50945 1,620,291 1,846,649 1,573,550 2,292,985 2,074,585 -281,763 1,140,421 1,192,326 23,60146 180,311 69,095 74,250 42,031 40,190 -264,021 38,836 265,375 047 461,372 642,283 918,567 1,024,931 1,130,033 -178,212 1,275,596 32,495 15448 4,092,615 4,461,037 5,090,027 5,476,428 5,829,157 0 4,806,145 1,023,012 0

48a 35,622 32,500 30,935 27,169 23,688 : : :49 1,898,609 2,499,662 3,462,425 3,125,708 2,887,862 -633,789 2,976,272 78,625 466,754

50=51+..+54 29,439,802 32,694,855 34,196,008 35,290,933 36,019,527 -1,357,785 36,250,784 947,839 178,68951 58,156 51,938 134,945 125,826 91,965 -281,763 373,728 - -52 20,083,360 23,922,322 25,203,546 26,430,176 27,638,150 -264,021 27,898,617 3,554 053 4,240,742 3,653,227 4,034,275 3,590,162 3,180,635 -178,212 3,088,921 126,193 143,73354 5,057,544 5,067,368 4,823,242 5,144,769 5,108,777 -633,789 4,889,518 818,092 34,956

55=44-50 -21,186,604 -23,176,129 -23,077,189 -23,328,850 -24,057,700 -26,013,514 1,643,994 311,82056=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -790,583 -849,257 -653,829 -584,415 -849,191 -852,356 26,689 -23,524

58=64(t)-64(t-1) 778,248 1,640,135 1,361,515 575,668 1,183,280 -335,667 1,427,866 49,354 41,72759 = 57+58 = 60+..+63 -12,335 790,878 707,686 -8,747 334,089 -335,667 575,510 76,043 18,203

60=23 -154,748 409,449 386,770 334,015 208,576 -816,246 419,616 590,424 14,782

61=(-)33 -46,270 -97,865 237,603 -280,181 78,878 475,823 112,691 -509,910 274

62 222,441 520,837 88,745 -34,842 43,843 4,756 39,694 -607 0

63 -33,758 -41,543 -5,432 -27,739 2,792 0 3,509 -3,864 3,14764=65+66+69 23,334,879 24,975,014 26,336,529 26,912,197 28,095,477 -721,145 28,543,153 129,736 143,733

65 58,156 51,938 134,945 125,802 91,934 -281,763 373,697 - -66=67+68 19,070,632 21,304,344 22,204,069 23,225,407 24,849,533 -261,170 25,107,053 3,650 0

67 3,171,946 2,975,024 3,019,071 4,039,412 4,683,132 -128,971 4,812,103 0 -68 15,898,686 18,329,320 19,184,998 19,185,995 20,166,401 -132,199 20,294,950 3,650 0

69=70+71 4,206,091 3,618,732 3,997,515 3,560,988 3,154,010 -178,212 3,062,403 126,086 143,73370 212,008 370,799 814,017 778,553 318,613 -163,212 316,487 21,605 143,73371 3,994,083 3,247,933 3,183,498 2,782,435 2,835,397 -15,000 2,745,916 104,481 072 0 0 0 0 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 1,836,224 1,948,244 1,678,735 2,362,185 2,138,463 : : :

Table C - Memorandum items75 5,952,911 6,509,304 6,822,619 7,170,709 7,765,337 5,171,305 1,996,523 597,50976 1,074,422 1,128,859 1,200,407 1,282,004 1,310,610 721,116 584,824 4,670

77=20+18-76 -533,607 -209,288 412,994 -872,310 -522,913 -298,556 -198,063 -26,29478 30,248,235 32,583,424 34,378,594 35,474,186 38,355,115

79 859 911 952 958 933

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Hungary







Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -8.6 -3.0 -7.8 -3.7 -4.5 -4.5 -5.4 -2.4 -2.6 -2.6 -1.9 -1.6 -2.2 -2.2 0.1 -0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) 0.8 0.0 0.1 -0.3 0.0 0.0 0.0 0.1 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions -9.5 -3.0 -7.8 -3.4 -4.5 -4.5 -5.4 -2.5 -2.5 -2.5 -1.9 -1.6 -2.2 -2.2 0.1 -0.123=24+..+28 Net acquisition of financial assets 6.2 -1.8 -2.1 5.0 -0.4 -1.7 4.1 -0.9 -0.5 1.3 1.1 0.9 0.5 -2.1 1.1 1.5 0.0

24 Currency and deposits 3.3 -0.7 -0.4 5.5 -2.5 -0.7 0.5 0.3 -1.3 0.6 -0.8 2.0 -0.6 -0.4 -1.3 1.1 0.025 Debt securities 0.0 0.1 0.0 0.0 0.0 0.1 0.2 0.2 0.2 -0.3 0.0 -0.1 0.0 -0.3 0.0 0.3 0.026 Loans -0.3 -0.4 0.4 0.1 2.0 -0.9 -0.5 -0.2 0.3 0.6 0.8 0.3 0.3 -0.1 0.5 0.0 0.027 Shares and other equity 2.8 -0.2 -2.3 -0.6 0.1 0.0 4.3 -0.7 -0.3 0.4 0.4 0.0 0.1 0.0 0.1 0.0 0.028 Other financial assets 0.5 -0.6 0.2 0.1 0.0 -0.1 -0.3 -0.5 0.6 0.1 0.7 -1.3 0.7 -1.2 1.8 0.1 0.1

29=30+..+33 Net incurrence of liabilities 15.7 1.2 5.7 8.4 4.1 2.8 9.5 1.6 2.0 3.7 3.0 2.5 2.8 -2.1 3.3 1.5 0.130 Currency and deposits 0.0 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.1 0.0 0.2 0.0 -0.1 -0.4 0.3 - -31 Debt securities 5.6 4.4 5.6 1.9 -3.0 1.7 -0.9 5.1 5.5 6.0 2.4 2.9 4.1 -0.3 4.4 0.0 0.032 Loans 10.1 -2.6 -0.1 6.9 7.3 1.3 -0.7 -3.4 -3.7 -2.5 1.1 -1.2 -1.0 -0.1 -1.1 0.1 0.133 Other liabilities 0.0 -0.6 0.3 -0.4 -0.1 -0.2 11.0 -0.1 0.2 0.3 -0.7 0.8 -0.2 -1.2 -0.3 1.3 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : 1.9 3.4 1.8 1.0 1.9 4.2 -2.7 0.1 2.6 3.5 1.4 -0.5 0.0 -0.7 0.1 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 1.8 1.2 -0.7 2.7 1.2 2.8 3.2 1.6 6.3 1.4 0.6 -0.9 0.0 -0.9 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.1 2.2 2.4 -1.8 0.7 1.4 -5.9 -1.5 -3.6 2.2 0.9 0.3 0.2 0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 130.0 137.7 106.9 110.2 116.5 115.3 113.5 114.4 111.6 107.2 107.2 : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets 62.5 28.6 23.3 25.3 26.6 26.0 33.3 29.1 27.3 29.2 32.3 33.7 31.2 -3.5 26.7 6.8 1.345 Currency and deposits 11.5 3.3 2.8 8.8 6.8 6.1 6.9 6.9 5.4 5.7 4.6 6.5 5.4 -0.7 3.0 3.1 0.146 Debt securities 0.0 0.1 0.0 0.0 0.0 0.1 0.2 0.4 0.6 0.2 0.2 0.1 0.1 -0.7 0.1 0.7 0.047 Loans 3.6 2.4 1.9 1.2 3.0 2.1 1.6 1.3 1.5 2.0 2.7 2.9 2.9 -0.5 3.3 0.1 0.048 Shares and other equity 43.0 16.9 13.9 10.7 11.3 11.4 17.5 14.3 13.5 13.7 14.8 15.4 15.2 0.0 12.5 2.7 0.0

48a of which, Investment fund shares 0.0 0.1 0.1 0.0 0.0 0.0 0.9 0.6 0.1 0.1 0.1 0.1 0.1 : : :49 Other financial assets 4.4 5.9 4.8 4.7 5.5 6.2 7.1 6.2 6.3 7.7 10.1 8.8 7.5 -1.7 7.8 0.2 1.2

50=51+..+54 Liabilities 87.3 61.5 67.6 75.8 84.9 86.4 95.3 98.5 97.3 100.3 99.5 99.5 93.9 -3.5 94.5 2.5 0.551 Currency and deposits 0.0 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.4 0.2 -0.7 1.0 - -52 Debt securities 29.8 39.3 55.1 56.5 56.9 57.1 54.3 63.1 66.4 73.4 73.3 74.5 72.1 -0.7 72.7 0.0 0.053 Loans 54.9 18.5 6.7 13.6 21.0 22.8 23.6 18.4 14.0 11.2 11.7 10.1 8.3 -0.5 8.1 0.3 0.454 Other liabilities 2.7 3.4 5.6 5.6 6.9 6.4 17.3 16.9 16.7 15.6 14.0 14.5 13.3 -1.7 12.7 2.1 0.1

55=44-50 Financial net worth -24.8 -32.9 -44.3 -50.5 -58.3 -60.4 -62.0 -69.4 -70.0 -71.1 -67.1 -65.8 -62.7 -67.8 4.3 0.856=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -8.6 -3.0 -7.8 -3.7 -4.5 -4.5 -5.4 -2.4 -2.6 -2.6 -1.9 -1.6 -2.2 -2.2 0.1 -0.1

58=64(t)-64(t-1) Change in Government Debt 17.1 2.9 5.6 9.8 4.2 4.7 3.3 -0.8 2.6 5.0 4.0 1.6 3.1 -0.9 3.7 0.1 0.159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 8.5 -0.1 -2.2 6.1 -0.4 0.2 -2.1 -3.2 0.0 2.4 2.1 0.0 0.9 -0.9 1.5 0.2 0.0

60=23 Net acquisition of financial assets 6.2 -1.8 -2.1 5.0 -0.4 -1.7 4.1 -0.9 -0.5 1.3 1.1 0.9 0.5 -2.1 1.1 1.5 0.0

61=(-)33 Incurrence in liabilities not in government debt 0.0 0.6 -0.3 0.4 0.1 0.2 -11.0 0.1 -0.2 -0.3 0.7 -0.8 0.2 1.2 0.3 -1.3 0.0

62Valuation effects and other changes in volume in government debt 1.4 1.1 0.2 0.9 0.0 1.7 4.9 -2.5 0.7 1.6 0.3 -0.1 0.1 0.0 0.1 0.0 0.0

63 Statistical discrepancies 0.8 0.0 0.1 -0.3 0.0 0.0 0.0 0.1 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) 84.0 55.3 60.5 71.6 77.8 80.2 80.5 78.4 77.1 76.6 76.6 75.9 73.3 -1.9 74.4 0.3 0.4

65 . Currency and deposits 0.0 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.4 0.2 -0.7 1.0 - -66=67+68 . Debt securities 29.3 38.3 53.6 57.9 56.9 57.7 57.4 60.1 63.0 65.4 64.6 65.5 64.8 -0.7 65.5 0.0 0.0

67 .. short term 8.0 9.3 9.1 7.2 7.6 6.8 6.4 9.0 10.5 9.1 8.8 11.4 12.2 -0.3 12.5 0.0 -68 .. long term 21.3 29.0 44.5 50.7 49.2 50.9 51.0 51.1 52.6 56.3 55.8 54.1 52.6 -0.3 52.9 0.0 0.0

69=70+71 . Loans 54.7 16.8 6.8 13.5 20.9 22.4 23.0 18.1 13.9 11.1 11.6 10.0 8.2 -0.5 8.0 0.3 0.470 .. short term 0.4 0.2 0.5 0.6 0.5 1.5 2.0 1.6 0.7 1.1 2.4 2.2 0.8 -0.4 0.8 0.1 0.471 .. long term 54.2 16.6 6.3 12.9 20.4 21.0 21.0 16.5 13.2 10.0 9.3 7.8 7.4 0.0 7.2 0.3 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : :



77=20+18-76 Net savings and capital transfers -13.0 -3.9 -7.0 -4.1 -4.8 -4.5 -5.8 -2.3 -1.8 -0.6 1.2 -2.5 -1.4 -0.8 -0.5 -0.178 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Hungary




2=3+4+5 11.0 10.4 9.9 4.2 7.0 13.4 6.0 -2.2 0.3 -3.2 9.3 3.8 8.4 7.6 3.0 7.43 9.6 15.1 13.3 2.8 4.2 11.7 4.6 2.4 10.2 3.0 9.1 4.4 7.5 7.3 0.3 7.34 13.0 3.4 3.9 6.6 12.0 16.6 8.4 -9.1 -16.2 -16.9 10.1 2.2 10.7 8.4 10.1 7.65 21.4 17.0 47.8 12.4 2.5 -20.2 -3.3 -17.3 -36.0 -14.7 0.6 -4.3 32.8 17.3 25.0 31.76 12.3 7.7 7.4 8.7 7.8 15.6 5.8 -7.0 -4.8 13.5 1.3 4.6 7.6 6.8 7.4 1.77 11.7 11.4 12.3 5.0 15.8 6.4 6.3 0.8 1.4 -1.3 5.1 16.1 3.3 9.6 7.1 10.28 -12.7 3.8 67.8 -7.2 17.0 -3.0 25.5 22.6 5.0 -4.2 16.0 9.2 -1.3 -14.0 -11.4 -3.29 5.0 -7.3 -0.8 64.0 66.6 2.3 -22.9 119.2 51.7 18.9 -4.4 33.0 22.0 42.1 -85.2 131.2

10=11+..+18 22.1 5.6 9.5 8.4 12.1 2.7 3.3 0.7 0.7 4.4 -0.4 6.9 7.9 6.8 -3.6 8.411 12.5 12.3 6.1 6.4 9.9 4.0 18.1 5.9 3.3 -0.8 1.6 5.8 11.2 4.3 2.9 14.312 24.1 18.6 5.0 6.1 4.2 1.1 5.5 -4.0 -0.7 -2.4 -0.6 6.3 10.2 7.7 7.3 8.213 -3.4 10.0 19.1 0.4 2.1 10.8 6.3 7.7 -5.9 5.1 12.1 4.1 -4.2 -7.1 -6.0 -6.814 14.3 -7.0 18.7 -9.7 14.1 4.4 -15.4 -17.1 17.7 18.9 14.1 -2.0 8.3 1.3 12.1 11.015 19.2 14.2 11.7 11.9 12.4 4.4 7.5 0.5 -0.9 2.3 -0.9 2.6 0.3 -0.7 1.5 2.8

15a 19.3 14.5 10.4 11.1 11.0 8.9 8.9 0.4 0.1 1.7 0.8 2.4 0.9 -0.3 1.3 3.116 29.0 3.1 41.0 17.6 18.5 4.5 -4.2 5.8 -3.0 10.7 0.9 29.5 4.1 0.4 24.5 -4.217 55.9 -39.5 -22.7 0.3 40.9 3.2 -20.1 -13.3 15.1 111.3 -43.1 0.3 33.6 57.6 0.4 -1.118 49.5 -22.1 12.6 18.6 32.4 -9.8 -23.6 7.4 10.5 -5.3 14.4 23.6 32.9 28.2 -56.2 64.719 48.2 -19.3 10.9 17.3 32.6 -12.6 -20.1 4.2 10.0 -5.0 13.3 23.2 31.7 29.7 -51.4 58.1

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -1.2 -1.5 8.4 -9.5 -2.7 1.2 27.2 -1.5 -6.6 16.4 -2.9 -1.8 5.0 4.1 3.0 1.7

24 -44.0 6.8 75.6 -11.4 22.0 26.3 150.4 -27.8 -11.4 8.2 5.0 -19.5 11.4 -15.3 44.9 -9.725 -93.9 60.7 0.2 -34.4 -30.3 161.3 -55.7 -10.5 1839.5 364.4 70.1 46.4 -63.1 -0.8 -44.6 -7.626 11.8 -6.3 8.0 25.5 -10.0 -30.5 9.1 162.0 -30.1 -26.6 -12.6 23.8 40.7 45.1 12.3 12.427 7.1 -4.1 -3.5 -17.7 -9.2 -2.9 -6.4 0.9 -0.1 38.9 -4.3 -2.6 3.0 3.0 0.3 1.028 7.3 4.8 20.1 4.5 4.9 5.0 1.8 0.9 -2.2 -5.3 -7.3 10.8 1.4 9.9 -13.5 8.0

29=30+..+33 16.6 12.5 15.3 9.5 13.7 7.4 12.3 5.3 3.4 11.4 1.7 2.1 4.1 3.2 2.6 3.030 12.6 -48.9 139.5 -27.0 -21.6 52.7 13.8 -62.5 39.2 -2.0 46.9 70.0 -11.9 158.4 -6.1 -24.431 23.2 22.9 18.1 11.5 12.3 9.8 3.4 -5.2 3.0 -1.6 9.5 9.1 9.7 3.4 4.1 5.932 13.4 -26.1 -7.0 -2.1 30.4 -6.6 103.5 52.5 6.2 -3.1 -14.8 -21.1 -19.5 10.3 -10.5 -11.133 -23.5 24.0 26.8 6.5 8.6 2.9 -7.3 -1.0 -2.8 178.5 -0.7 1.0 1.9 -4.7 5.8 -1.5


35=44(t)-44(t-1)-23 0.6 11.2 -1.7 15.7 -5.1 2.7 9.5 3.7 7.3 16.8 -8.3 0.4 10.4 12.7 4.6 -1.736=50(t)-50(t-1)-29 -1.8 -1.3 1.1 2.0 -0.5 -0.2 -1.0 3.5 1.5 3.3 3.4 1.7 6.9 1.4 0.6 -0.9

37=35-36 = 55(t)-55(t-1)-22 -4.0 -9.7 3.0 -5.8 1.9 -1.3 -4.9 3.4 -1.2 -2.5 9.7 2.2 5.6 -3.2 -1.3 -0.5

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 5.1 5.6 4.6 4.6 9.4 7.2 5.9 2.7 2.0 2.3 2.5 2.5 3.5 5.5 : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -0.6 9.7 6.7 6.2 -7.8 3.9 36.7 2.2 0.8 33.2 -11.2 -1.5 15.3 16.8 7.6 0.045 -45.9 9.5 71.5 -10.7 25.0 26.7 141.2 -24.9 -6.6 16.8 1.2 -18.0 14.0 -14.8 45.7 -9.546 -93.9 60.7 0.2 -34.3 -30.4 161.3 -54.0 -23.9 1923.2 346.7 72.5 53.4 -61.7 7.5 -43.4 -4.447 5.7 -6.0 -0.1 30.6 -0.8 -31.9 13.3 144.8 -26.8 -22.9 -17.4 24.7 39.2 43.0 11.6 10.348 15.5 16.0 -4.9 6.6 -19.3 2.5 12.1 2.8 4.5 58.6 -16.7 -0.6 9.0 14.1 7.6 6.4

48a -1.1 -14.3 19.1 -2.7 -33.4 29.6 -29.0 10.1 -12.6 2528.3 -38.4 -78.1 -8.8 -4.8 -12.2 -12.849 -7.4 -3.8 20.8 8.8 4.0 4.6 8.7 15.3 16.0 19.0 -11.1 5.6 31.7 38.5 -9.7 -7.6

50=51+..+54 14.7 11.2 16.4 11.5 13.2 7.3 11.3 8.8 4.9 14.7 5.1 3.8 11.1 4.6 3.2 2.151 3.0 -49.0 128.5 -24.0 -25.2 48.8 16.7 -61.5 42.5 -1.4 46.6 69.8 -10.7 159.8 -6.8 -26.952 23.0 19.1 19.9 13.4 11.2 8.9 2.1 -2.2 3.3 -1.1 18.2 10.5 19.1 5.4 4.9 4.653 6.0 -22.4 -12.8 2.0 29.1 -6.8 101.9 50.7 11.6 7.9 -20.7 -20.1 -13.9 10.4 -11.0 -11.454 -23.9 34.3 34.4 6.8 15.2 9.7 -5.3 19.8 -3.6 180.0 -0.9 4.2 0.2 -4.8 6.7 -0.7

55=44-50 27.9 12.2 22.8 14.5 24.2 8.6 1.9 12.1 6.7 6.8 13.9 6.0 9.4 -0.4 1.1 3.156=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 20.6 14.7 11.8 10.1 14.6 7.5 15.8 5.7 6.2 4.3 -1.0 3.5 7.0 5.5 2.2 4.459 = 57+58 = 60+..+63 1.3 0.6 -0.6 -4.0 -1.9 -0.7 9.8 -0.5 0.3 -2.7 -4.0 -0.1 3.4 2.8 0.0 1.2

60=23 -0.6 -0.7 3.5 -3.8 -1.0 0.4 8.1 -0.5 -2.2 5.3 -1.2 -0.7 1.8 1.5 1.3 0.8

61=(-)33 2.5 -1.6 -2.1 -0.6 -0.8 -0.3 0.7 0.1 0.2 -14.3 0.1 -0.2 -0.4 1.0 -1.1 0.3

62 -1.0 2.7 -2.3 0.3 0.1 -0.4 1.5 0.0 2.3 6.3 -3.1 1.0 2.2 0.4 -0.1 0.2

63 0.5 0.3 0.3 0.1 -0.1 -0.4 -0.5 0.0 0.0 -0.1 0.2 -0.1 -0.2 0.0 -0.1 0.064=65+66+69 20.6 14.7 11.8 10.1 14.6 7.5 15.8 5.7 6.2 4.3 -1.0 3.5 7.0 5.5 2.2 4.4

65 2.9 -49.3 129.7 -23.9 -25.4 49.1 17.1 -61.4 42.5 -1.4 46.6 69.8 -10.7 159.8 -6.8 -26.966=67+68 23.0 24.8 16.0 11.9 13.1 9.5 5.3 -4.6 4.5 3.3 6.6 10.2 11.7 4.2 4.6 7.0

67 30.1 5.2 -0.6 0.5 15.9 -9.8 -8.6 3.5 -7.8 -3.3 44.2 22.1 -6.2 1.5 33.8 15.968 20.7 31.7 20.7 14.6 12.5 13.5 7.6 -5.7 6.4 4.2 1.9 8.1 15.3 4.7 0.0 5.1

69=70+71 13.1 -18.9 -11.7 -1.4 27.7 -6.5 101.7 50.3 10.7 6.7 -20.0 -19.4 -14.0 10.5 -10.9 -11.470 176.7 -20.8 37.1 -18.5 19.9 27.4 0.5 -24.3 230.9 43.3 -19.8 -54.3 74.9 119.5 -4.4 -59.171 9.4 -18.8 -14.5 0.1 28.2 -8.8 111.4 53.7 5.7 4.2 -20.0 -16.0 -18.7 -2.0 -12.6 1.972 : : : : : : : :73 : : : : : : : :

74=45+46+48a -46.1 8.6 69.4 -10.6 23.4 26.9 138.3 -24.8 -5.8 34.6 -1.2 -18.6 6.1 -13.8 40.7 -9.5

Table C - Memorandum items75 17.5 15.6 5.6 7.5 7.1 -0.1 8.8 0.3 0.6 -0.1 -1.6 3.4 9.3 4.8 5.1 8.376 3.6 7.7 4.8 4.0 8.5 8.5 7.0 3.5 3.8 2.4 1.8 1.6 5.1 6.3 6.8 2.2

77=20+18-7678 13.2 9.6 10.2 6.9 7.5 5.9 5.9 -2.8 3.0 4.0 1.7 5.1 7.7 5.5 3.2 8.1

79 1.9 2.0 0.4 -1.6 -2.2 -0.5 -3.4 3.4 6.3 -3.2 1.5 4.4 6.1 4.5 0.6 -2.6



Malta




2=3+4+5 Taxes 621 866 1,303 1,602 1,628 1,725 1,787 1,8923 . Indirect taxes 368 496 726 844 819 903 923 9414 . Direct taxes 248 366 559 743 795 808 849 9355 . Capital taxes 4 4 18 15 14 15 15 166 Social contributions 218 304 380 432 435 456 487 5047 Sales (incl . own account capital formation) 107 92 121 191 164 154 162 1578 Other current revenue 122 122 91 104 97 114 112 1279 Capital revenue 16 52 146 28 48 102 106 132

10=11+..+18 Total expenditure 1,190 1,663 2,175 2,613 2,571 2,710 2,819 3,06211 Intermediate consumption 152 202 248 392 365 403 430 48312 Compensation of employees 439 524 677 847 839 855 882 92313 Interest 55 168 194 205 201 204 217 21514 Subsidies 52 54 85 115 50 53 51 7715 Social benefits 344 485 642 756 807 842 879 925

15a of which other than transfers in kind 335 471 615 720 769 805 836 88716 Other current expenditure 36 50 88 115 122 130 128 13317 Capital transfers payable 23 11 41 42 54 77 46 6718 Capital investments 90 170 200 142 133 146 185 23919 of which, gross fixed capital formation 90 159 235 154 148 147 193 233

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -106 -228 -135 -256 -199 -158 -165 -250


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -9 -3 -2 -10 4 -4

22=23-29 Net financial transactions : : -126 -253 -196 -148 -168 -24623=24+..+28 Net acquisition of financial assets : : 44 28 179 179 254 119

24 Currency and deposits : : 85 -11 149 47 61 -22725 Debt securities : : 0 0 0 0 0 026 Loans : : 2 2 -3 34 85 12027 Shares and other equity : : -54 -9 -4 -3 14 4228 Other financial assets : : 11 46 36 101 94 183

29=30+..+33 Net incurrence of liabilities : : 170 281 375 326 422 36530 Currency and deposits : : 0 23 6 4 5 531 Debt securities : : 157 213 371 289 311 17132 Loans : : -43 -16 -54 -9 14 8533 Other liabilities : : 56 61 52 42 92 104


35=44(t)-44(t-1)-23 Other changes in financial assets : : 197 -104 29 35 -28 19936=50(t)-50(t-1)-29 Other changes in liabilities : : 102 188 -31 -26 -14 -128

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 95 -293 60 60 -14 326

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 1,785 1,618 1,826 2,039 2,266 2,58345 Currency and deposits : : 408 505 619 626 684 44546 Debt securities : : 0 0 0 0 0 047 Loans : : 22 22 19 52 137 25848 Shares and other equity : : 1,140 754 812 869 855 1,115

48a of which, Investment fund shares : : 0 0 0 0 0 049 Other financial assets : : 216 337 377 492 589 766

50=51+..+54 Liabilities : : 4,331 4,741 5,084 5,385 5,794 6,03151 Currency and deposits : : 0 31 37 41 46 5052 Debt securities : : 3,419 3,654 3,984 4,295 4,607 4,86853 Loans : : 555 497 437 443 462 34754 Other liabilities : : 357 559 626 606 678 765

55=44-50 Financial net worth : : -2,546 -3,122 -3,258 -3,345 -3,528 -3,44856=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -106 -228 -135 -256 -199 -158 -165 -250

58=64(t)-64(t-1) Change in Government Debt 1,045 158 117 252 316 299 345 5959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 939 -70 -18 -4 117 141 180 -191

60=23 Net acquisition of financial assets : : 44 28 179 179 254 119

61=(-)33 Incurrence in liabilities not in government debt : : -56 -61 -52 -42 -92 -104

62 Valuation effects and other changes in volume in government debt : : 1 34 -7 15 10 -201

63 Statistical discrepancies : : -7 -5 -3 -10 8 -664=65+66+69 Government debt (nominal / face value) : 2,519 3,606 3,837 4,153 4,452 4,797 4,855

65 . Currency and deposits : - - 31 37 41 46 5066=67+68 . Debt securities : 1,958 3,054 3,312 3,681 3,970 4,291 4,459


69=70+71 . Loans : 561 553 494 434 441 460 34570 .. short term : 57 89 76 43 49 56 8071 .. long term : 504 464 419 391 392 404 26572 Intergovernmental lending (asset)* : : : : 0 20 66 18773 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : : 408 505 619 626 684 445

Table C - Memorandum items75 Government final consumption expenditure 547 733 933 1,210 1,214 1,286 1,345 1,44976 Consumption of fixed capital 54 85 103 127 136 144 151 161

77=20+18-76 Net savings and capital transfers -70 -143 -38 -242 -202 -156 -131 -17278 GDP 3,041 4,137 5,149 6,129 6,139 6,600 6,840 7,168

79 Government employment (in thousands of persons) : 34 34 36 35 35 36 36



Malta



Government revenue and expenditure1=2+6+7+8+9 3,021 3,346 3,720 3,870 4,424 -37 4,415 47

2=3+4+5 2,045 2,275 2,433 2,659 2,991 2,991 03 989 1,107 1,181 1,260 1,401 1,401 04 1,043 1,155 1,238 1,384 1,570 1,570 05 13 12 15 16 19 19 06 525 560 596 639 703 703 07 181 183 253 398 526 523 48 131 134 146 125 131 -37 129 399 140 194 292 48 73 0 69 4

10=11+..+18 3,207 3,494 3,817 3,773 4,031 -37 4,030 3911 471 520 592 631 723 698 2512 978 1,050 1,116 1,178 1,273 1,265 813 219 231 226 216 205 0 205 014 80 105 112 132 140 140 015 964 1,010 1,041 1,086 1,138 1,138 0

15a 923 964 986 1,021 1,064 1,064 016 180 191 205 198 204 -37 241 017 95 95 135 79 98 0 98 018 219 293 391 252 250 244 619 220 301 402 255 252 247 6

Government deficit

20=1-10 -186 -148 -98 96 393 385 8


21=20-22 -4 -9 -5 -18 0 -1 1

22=23-29 -181 -139 -92 115 393 386 723=24+..+28 172 118 106 455 181 0 176 6

24 -18 76 45 481 84 0 77 625 0 0 0 0 0 0 0 026 37 13 -50 -4 21 0 21 027 26 15 -8 -9 91 0 91 028 128 14 120 -13 -14 0 -13 0

29=30+..+33 354 257 199 340 -212 0 -210 -230 5 5 8 4 106 0 106 031 332 152 203 188 -186 0 -186 032 32 10 -15 -50 15 0 15 -133 -15 89 2 198 -146 0 -145 -1


35=44(t)-44(t-1)-23 44 -123 98 16 -8 0 -8 036=50(t)-50(t-1)-29 66 438 168 93 -178 0 -178 0

37=35-36 = 55(t)-55(t-1)-22 -22 -562 -70 -77 170 170 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : :


40=41+42+43 : : : : : : :41 : : : : : : :42 : : : : : : :43 : : : : : : :

44=45+..+49 2,799 2,794 2,999 3,470 3,644 0 3,593 5145 423 502 552 1,032 1,111 0 1,081 3146 0 0 0 0 0 0 0 047 295 308 260 256 276 0 276 048 1,188 1,076 1,159 1,168 1,255 0 1,255 0

48a 0 0 0 0 0 : :49 894 908 1,028 1,015 1,001 0 982 20

50=51+..+54 6,450 7,145 7,512 7,945 7,556 0 7,533 2351 55 60 69 73 179 0 179 052 5,270 5,858 6,223 6,512 6,154 0 6,154 053 379 389 374 325 339 0 336 354 746 838 846 1,036 884 0 864 20

55=44-50 -3,651 -4,351 -4,513 -4,475 -3,912 -3,939 2756=39-50=40+55 : : : : : : :

Table B - Government debt and link with the deficit57=20 -186 -148 -98 96 393 385 8

58=64(t)-64(t-1) 372 163 196 149 -64 0 -64 -159 = 57+58 = 60+..+63 186 16 98 246 328 0 321 7

60=23 172 118 106 455 181 0 176 6

61=(-)33 15 -89 -2 -198 146 0 145 1

62 2 -8 -6 -7 1 0 1 0

63 -3 -5 0 -5 0 0 0 164=65+66+69 5,227 5,390 5,586 5,735 5,671 0 5,668 3

65 55 60 69 73 178 0 178 -66=67+68 4,794 4,942 5,144 5,338 5,154 0 5,154 0

67 248 140 222 254 177 0 177 068 4,546 4,802 4,922 5,084 4,977 0 4,977 0

69=70+71 377 387 373 324 339 0 336 370 20 27 31 28 32 0 31 171 357 360 342 296 307 0 305 272 223 232 222 222 222 : :73 0 0 0 0 0 : :

74=45+46+48a 423 502 552 1,033 1,111 : :

Table C - Memorandum items75 1,479 1,604 1,689 1,670 1,746 1,707 3976 169 172 179 194 201 192 9

77=20+18-76 -136 -26 114 155 441 437 478 7,642 8,468 9,525 10,180 11,140

79 37 38 39 40 40

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Malta




2=3+4+5 Taxes 20.4 20.9 25.3 26.1 26.5 26.1 26.1 26.4 26.8 26.9 25.5 26.1 26.8 26.8 0.03 . Indirect taxes 12.1 12.0 14.1 13.8 13.3 13.7 13.5 13.1 12.9 13.1 12.4 12.4 12.6 12.6 0.04 . Direct taxes 8.2 8.9 10.9 12.1 13.0 12.2 12.4 13.0 13.7 13.6 13.0 13.6 14.1 14.1 0.05 . Capital taxes 0.1 0.1 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.06 Social contributions 7.2 7.4 7.4 7.0 7.1 6.9 7.1 7.0 6.9 6.6 6.3 6.3 6.3 6.3 0.07 Sales (incl. own account capital formation) 3.5 2.2 2.3 3.1 2.7 2.3 2.4 2.2 2.4 2.2 2.7 3.9 4.7 4.7 0.08 Other current revenue 4.0 2.9 1.8 1.7 1.6 1.7 1.6 1.8 1.7 1.6 1.5 1.2 1.2 -0.3 1.2 0.49 Capital revenue 0.5 1.3 2.8 0.5 0.8 1.5 1.6 1.8 1.8 2.3 3.1 0.5 0.7 0.0 0.6 0.0


15a of which other than transfers in kind 11.0 11.4 12.0 11.7 12.5 12.2 12.2 12.4 12.1 11.4 10.4 10.0 9.5 9.5 0.016 Other current expenditure 1.2 1.2 1.7 1.9 2.0 2.0 1.9 1.9 2.4 2.3 2.2 1.9 1.8 -0.3 2.2 0.017 Capital transfers payable 0.7 0.3 0.8 0.7 0.9 1.2 0.7 0.9 1.2 1.1 1.4 0.8 0.9 0.0 0.9 0.018 Capital investments 3.0 4.1 3.9 2.3 2.2 2.2 2.7 3.3 2.9 3.5 4.1 2.5 2.2 2.2 0.019 of which, gross fixed capital formation 3.0 3.9 4.6 2.5 2.4 2.2 2.8 3.2 2.9 3.6 4.2 2.5 2.3 2.2 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -3.5 -5.5 -2.6 -4.2 -3.2 -2.4 -2.4 -3.5 -2.4 -1.7 -1.0 0.9 3.5 3.5 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -0.2 -0.1 0.0 -0.2 0.1 -0.1 -0.1 -0.1 -0.1 -0.2 0.0 0.0 0.0

22=23-29 Net financial transactions : : -2.5 -4.1 -3.2 -2.2 -2.5 -3.4 -2.4 -1.6 -1.0 1.1 3.5 3.5 0.123=24+..+28 Net acquisition of financial assets : : 0.9 0.5 2.9 2.7 3.7 1.7 2.3 1.4 1.1 4.5 1.6 0.0 1.6 0.1

24 Currency and deposits : : 1.6 -0.2 2.4 0.7 0.9 -3.2 -0.2 0.9 0.5 4.7 0.8 0.0 0.7 0.125 Debt securities : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.026 Loans : : 0.0 0.0 -0.1 0.5 1.2 1.7 0.5 0.2 -0.5 0.0 0.2 0.0 0.2 0.027 Shares and other equity : : -1.0 -0.2 -0.1 -0.1 0.2 0.6 0.3 0.2 -0.1 -0.1 0.8 0.0 0.8 0.028 Other financial assets : : 0.2 0.8 0.6 1.5 1.4 2.6 1.7 0.2 1.3 -0.1 -0.1 0.0 -0.1 0.0

29=30+..+33 Net incurrence of liabilities : : 3.3 4.6 6.1 4.9 6.2 5.1 4.6 3.0 2.1 3.3 -1.9 0.0 -1.9 0.030 Currency and deposits : : 0.0 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.9 0.0 0.9 0.031 Debt securities : : 3.1 3.5 6.0 4.4 4.6 2.4 4.3 1.8 2.1 1.8 -1.7 0.0 -1.7 0.032 Loans : : -0.8 -0.3 -0.9 -0.1 0.2 1.2 0.4 0.1 -0.2 -0.5 0.1 0.0 0.1 0.033 Other liabilities : : 1.1 1.0 0.8 0.6 1.3 1.4 -0.2 1.1 0.0 1.9 -1.3 0.0 -1.3 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : : 3.8 -1.7 0.5 0.5 -0.4 2.8 0.6 -1.5 1.0 0.2 -0.1 0.0 -0.1 0.036=50(t)-50(t-1)-29 Other changes in liabilities : : 2.0 3.1 -0.5 -0.4 -0.2 -1.8 0.9 5.2 1.8 0.9 -1.6 0.0 -1.6 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 1.8 -4.8 1.0 0.9 -0.2 4.5 -0.3 -6.6 -0.7 -0.8 1.5 1.5 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : : : : : : : : :42 Other produced assets : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : : 34.7 26.4 29.7 30.9 33.1 36.0 36.6 33.0 31.5 34.1 32.7 0.0 32.3 0.545 Currency and deposits : : 7.9 8.2 10.1 9.5 10.0 6.2 5.5 5.9 5.8 10.1 10.0 0.0 9.7 0.346 Debt securities : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.047 Loans : : 0.4 0.4 0.3 0.8 2.0 3.6 3.9 3.6 2.7 2.5 2.5 0.0 2.5 0.048 Shares and other equity : : 22.1 12.3 13.2 13.2 12.5 15.6 15.5 12.7 12.2 11.5 11.3 0.0 11.3 0.0

48a of which, Investment fund shares : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : :49 Other financial assets : : 4.2 5.5 6.1 7.5 8.6 10.7 11.7 10.7 10.8 10.0 9.0 0.0 8.8 0.2

50=51+..+54 Liabilities : : 84.1 77.3 82.8 81.6 84.7 84.1 84.4 84.4 78.9 78.0 67.8 0.0 67.6 0.251 Currency and deposits : : 0.0 0.5 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 1.6 0.0 1.6 0.052 Debt securities : : 66.4 59.6 64.9 65.1 67.4 67.9 69.0 69.2 65.3 64.0 55.2 0.0 55.2 0.053 Loans : : 10.8 8.1 7.1 6.7 6.8 4.8 5.0 4.6 3.9 3.2 3.0 0.0 3.0 0.054 Other liabilities : : 6.9 9.1 10.2 9.2 9.9 10.7 9.8 9.9 8.9 10.2 7.9 0.0 7.8 0.2

55=44-50 Financial net worth : : -49.4 -50.9 -53.1 -50.7 -51.6 -48.1 -47.8 -51.4 -47.4 -44.0 -35.1 -35.4 0.256=39-50=40+55 Net worth : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -3.5 -5.5 -2.6 -4.2 -3.2 -2.4 -2.4 -3.5 -2.4 -1.7 -1.0 0.9 3.5 3.5 0.1

58=64(t)-64(t-1) Change in Government Debt 34.4 3.8 2.3 4.1 5.1 4.5 5.0 0.8 4.9 1.9 2.1 1.5 -0.6 0.0 -0.6 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 30.9 -1.7 -0.4 -0.1 1.9 2.1 2.6 -2.7 2.4 0.2 1.0 2.4 2.9 0.0 2.9 0.1

60=23 Net acquisition of financial assets : : 0.9 0.5 2.9 2.7 3.7 1.7 2.3 1.4 1.1 4.5 1.6 0.0 1.6 0.1

61=(-)33 Incurrence in liabilities not in government debt : : -1.1 -1.0 -0.8 -0.6 -1.3 -1.4 0.2 -1.1 0.0 -1.9 1.3 0.0 1.3 0.0

62Valuation effects and other changes in volume in government debt : : 0.0 0.6 -0.1 0.2 0.1 -2.8 0.0 -0.1 -0.1 -0.1 0.0 0.0 0.0 0.0

63 Statistical discrepancies : : -0.1 -0.1 0.0 -0.2 0.1 -0.1 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 60.9 70.0 62.6 67.6 67.5 70.1 67.7 68.4 63.7 58.6 56.3 50.9 0.0 50.9 0.0

65 . Currency and deposits : - - 0.5 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 1.6 0.0 1.6 -66=67+68 . Debt securities : 47.3 59.3 54.0 60.0 60.2 62.7 62.2 62.7 58.4 54.0 52.4 46.3 0.0 46.3 0.0

67 .. short term : 8.1 8.6 6.0 7.7 5.7 3.8 2.2 3.2 1.7 2.3 2.5 1.6 0.0 1.6 0.068 .. long term : 39.2 50.7 48.1 52.3 54.4 59.0 60.1 59.5 56.7 51.7 49.9 44.7 0.0 44.7 0.0

69=70+71 . Loans : 13.6 10.7 8.1 7.1 6.7 6.7 4.8 4.9 4.6 3.9 3.2 3.0 0.0 3.0 0.070 .. short term : 1.4 1.7 1.2 0.7 0.7 0.8 1.1 0.3 0.3 0.3 0.3 0.3 0.0 0.3 0.071 .. long term : 12.2 9.0 6.8 6.4 5.9 5.9 3.7 4.7 4.3 3.6 2.9 2.8 0.0 2.7 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.3 1.0 2.6 2.9 2.7 2.3 2.2 2.0 : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : :

74=45+46+48a Government liquid assets : : 7.9 8.2 10.1 9.5 10.0 6.2 5.5 5.9 5.8 10.1 10.0 : :


77=20+18-76 Net savings and capital transfers -2.3 -3.5 -0.7 -3.9 -3.3 -2.4 -1.9 -2.4 -1.8 -0.3 1.2 1.5 4.0 3.9 0.078 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Malta



Government revenue and expenditure1=2+6+7+8+9 7.1 5.9 7.0 10.8 5.1 4.7 5.0 0.7 7.6 4.0 5.9 7.5 10.8 11.2 4.0 14.3

2=3+4+5 10.1 6.7 4.1 12.7 6.9 11.6 3.1 1.7 5.9 3.6 5.9 8.1 11.2 7.0 9.3 12.53 3.5 5.3 10.6 12.6 5.8 5.7 3.9 -2.9 10.2 2.3 2.0 5.1 12.0 6.6 6.7 11.34 18.6 8.2 -3.8 11.4 9.0 19.1 2.3 7.1 1.6 5.2 10.1 11.6 10.8 7.1 11.8 13.45 15.5 17.1 49.9 87.0 -16.3 6.9 -3.8 -7.1 5.1 0.6 8.9 -20.9 -7.3 26.7 6.4 21.16 3.7 2.1 2.0 5.5 2.5 2.2 8.5 0.7 5.0 6.6 3.6 4.1 6.8 6.4 7.2 10.07 4.4 6.1 15.8 -4.7 3.0 11.8 37.2 -14.1 -6.0 5.2 -3.5 15.5 1.4 37.8 57.7 32.18 0.8 9.5 -6.6 -29.9 2.5 13.4 -1.7 -6.4 17.8 -1.9 13.5 3.1 2.1 9.1 -14.3 4.89 -42.4 13.4 670.3 114.5 -0.8 -66.2 -41.7 67.4 113.7 4.5 23.7 6.3 38.8 50.3 -83.7 54.2

10=11+..+18 5.0 15.1 -4.7 6.1 4.8 3.9 10.3 -1.6 5.4 4.0 8.6 4.7 9.0 9.3 -1.2 6.811 8.0 10.4 12.7 -4.0 19.7 3.5 27.7 -6.8 10.3 6.8 12.3 -2.5 10.3 13.9 6.7 14.612 2.9 4.6 1.7 1.6 1.5 4.3 18.2 -0.9 2.0 3.1 4.6 6.0 7.4 6.3 5.6 8.013 9.6 -3.4 6.9 7.8 2.7 0.5 2.3 -2.0 1.3 6.6 -0.8 1.9 5.2 -1.8 -4.4 -5.314 26.5 11.6 -9.5 22.2 10.1 4.3 17.5 -56.5 5.7 -3.5 50.7 4.4 30.8 6.4 18.3 5.915 7.1 4.2 3.2 7.2 3.6 7.8 5.3 6.8 4.4 4.3 5.2 4.2 4.8 3.1 4.3 4.8

15a 6.5 4.0 2.9 6.9 3.0 8.2 5.0 6.8 4.7 3.9 6.1 4.1 4.4 2.4 3.5 4.216 -39.6 36.8 72.1 -3.7 3.1 15.1 10.5 5.9 6.2 -1.0 3.6 35.0 6.2 7.6 -3.4 2.817 -72.4 2385.0 -81.9 38.4 -1.8 -12.1 18.4 28.6 42.1 -40.2 46.5 42.2 -0.8 42.4 -41.5 24.718 21.4 18.4 -30.4 28.7 3.2 -7.8 -25.7 -6.1 10.2 26.7 28.9 -8.2 33.7 33.2 -35.4 -1.019 23.6 16.6 -15.5 28.9 -8.6 1.4 -29.4 -3.4 -1.2 31.6 20.7 -5.6 36.9 33.7 -36.7 -1.0

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : 0.8 2.8 -8.8 6.7 1.7 11.0 9.8 12.5 5.2 6.7 4.2 3.8 15.2 5.2

24 : : 7.8 26.3 17.4 18.4 -2.1 29.6 7.6 9.8 -33.2 -4.1 17.9 9.0 87.1 8.125 : : 257.3 0.0 0.0 -0.4 0.0 -78.8 0.0 0.0 0.0 0.0 0.0 -97.526 : : -12.8 6.0 -30.7 34.0 8.9 -14.5 177.2 161.7 87.6 14.4 4.5 -16.3 -1.5 8.127 : : -0.9 -5.2 -19.0 -5.2 -1.1 -0.5 -0.4 1.6 5.0 2.3 1.3 -0.8 -0.8 7.828 : : -1.2 7.2 -2.5 30.6 15.5 10.8 26.8 19.2 31.1 16.7 1.6 13.2 -1.3 -1.4

29=30+..+33 : : 5.8 4.2 -1.0 5.0 6.6 7.9 6.4 7.8 6.3 5.9 4.0 2.8 4.5 -2.730 : : 274.7 19.2 10.2 11.9 10.1 9.6 9.3 13.4 6.3 145.331 : : 9.6 4.9 -2.1 3.7 6.5 10.1 7.3 7.2 3.7 6.8 2.9 3.5 3.0 -2.932 : : -11.5 -7.6 -6.8 2.5 -3.3 -10.8 -2.1 3.2 18.4 9.2 2.5 -3.8 -13.3 4.533 : : 4.6 19.5 18.4 17.3 12.6 9.3 6.7 15.2 15.3 -2.0 12.0 0.3 23.3 -14.1


35=44(t)-44(t-1)-23 : : 22.2 12.8 -5.4 4.0 -6.2 1.8 1.9 -1.4 8.8 1.7 -4.4 3.5 0.5 -0.236=50(t)-50(t-1)-29 : : 0.1 2.5 -2.5 -2.9 4.4 -0.7 -0.5 -0.3 -2.2 1.1 6.8 2.3 1.2 -2.2

37=35-36 = 55(t)-55(t-1)-22 : : -10.6 -3.8 -0.4 -6.8 11.4 -1.9 -1.9 0.4 -9.2 0.6 15.4 1.6 1.7 -3.8

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : 23.0 15.6 -14.2 10.7 -4.5 12.9 11.7 11.1 14.0 8.4 -0.2 7.3 15.7 5.045 : : 6.8 26.9 8.8 17.1 -2.9 22.6 1.1 9.3 -35.0 -4.9 18.6 10.0 87.0 7.646 : : 257.2 0.4 -0.7 -8.3 0.2 -79.0 -42.7 -1.6 -0.4 -14.2 7.8 -100.047 : : -14.2 -35.5 -30.8 34.0 8.9 -14.5 177.2 161.7 87.6 14.4 4.5 -15.7 -1.5 8.148 : : 36.6 10.0 -23.5 -1.9 -11.8 7.6 7.1 -1.6 30.3 6.6 -9.4 7.7 0.7 7.5

48a : : 112.8 -51.6 1.9 0.8 0.1 0.1 0.349 : : -2.7 41.3 -7.1 49.4 12.5 11.9 30.6 19.7 30.0 16.7 1.6 13.2 -1.3 -1.3

50=51+..+54 : : 5.9 6.7 -3.4 2.1 11.0 7.3 5.9 7.6 4.1 7.0 10.8 5.1 5.8 -4.951 : : 274.7 19.2 10.2 11.9 10.1 9.6 9.3 13.4 6.3 145.352 : : 9.1 6.8 -3.7 0.3 10.7 9.0 7.8 7.3 5.7 8.2 11.2 6.2 4.6 -5.553 : : -10.5 -2.2 -11.4 -2.5 3.6 -12.1 1.4 4.4 -24.9 9.2 2.6 -3.8 -13.3 4.554 : : 9.7 23.4 11.6 21.1 15.9 12.1 -3.3 12.0 12.8 -2.4 12.3 0.9 22.4 -14.6

55=44-50 : : -2.4 1.3 4.1 -2.8 21.2 4.4 2.7 5.5 -2.3 5.9 19.2 3.7 -0.8 -12.656=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 2.5 15.2 6.2 3.3 -3.7 3.2 7.0 8.2 7.2 7.7 1.2 7.7 3.1 3.6 2.7 -1.159 = 57+58 = 60+..+63 -6.2 0.2 -0.2 -0.5 -7.5 -0.3 -0.1 3.0 3.4 4.0 -4.0 3.8 0.3 1.8 4.4 5.7

60=23 : : 0.3 1.3 -4 3.0 0.8 4.7 4.3 5.7 2.5 3.6 2.3 2.0 8.1 3.2

61=(-)33 : : -0.4 -1.6 -2 -2.0 -1.7 -1.4 -1.0 -2.1 -2.2 0.3 -1.7 0.0 -3.5 2.5

62 : : -0.1 0.0 -1 -0.9 0.9 -0.2 0.4 0.2 -4.2 0.0 -0.2 -0.1 -0.1 0.0

63 : : 0.0 -0.2 -1 -0.4 -0.1 -0.1 -0.2 0.2 -0.1 -0.1 -0.1 0.0 -0.1 0.064=65+66+69 2.5 15.2 6.2 3.3 -3.7 3.2 7.0 8.2 7.2 7.7 1.2 7.7 3.1 3.6 2.7 -1.1

65 274.7 19.2 10.2 11.9 10.1 9.6 9.3 13.4 6.3 144.266=67+68 4.1 14.1 10.2 4.4 -2.3 3.9 6.8 11.2 7.8 8.1 3.9 7.5 3.1 4.1 3.8 -3.4

67 20.8 20.6 5.3 -22.7 -16.0 -4.6 3.5 29.7 -20.3 -31.9 -40.1 61.0 -43.4 58.1 14.4 -30.368 0.8 12.6 11.5 11.0 0.0 5.1 7.2 8.9 12.0 12.3 6.7 5.6 5.6 2.5 3.3 -2.1

69=70+71 -4.0 20.0 -10.6 -2.2 -11.5 -2.8 3.9 -12.1 1.6 4.3 -25.0 9.3 2.6 -3.7 -13.1 4.670 -13.3 147.4 -27.9 -11.8 -60.6 14.0 89.8 -43.3 14.5 13.6 44.2 -74.8 34.7 14.5 -11.5 16.471 -2.7 4.7 -5.7 -0.1 -2.1 -4.1 -3.9 -6.5 0.1 3.2 -34.5 34.8 0.8 -5.1 -13.2 3.572 : : : : : : : : 234.6 182.2 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a : : 6.8 26.9 8.8 17.1 -2.9 22.6 1.1 9.3 -35.0 -4.9 18.6 10.0 86.9 7.6

Table C - Memorandum items75 4.9 5.7 3.4 0.6 7.5 3.0 17.1 0.4 5.9 4.6 7.7 2.1 8.5 5.3 -1.1 4.676 7.6 2.4 4.9 -3.4 9.8 4.6 7.6 7.3 5.9 5.1 6.4 5.2 1.3 4.5 8.1 3.9

77=20+18-7678 5.8 5.5 2.0 6.1 4.6 6.9 6.4 0.2 7.5 3.6 4.8 6.6 10.8 12.5 6.9 9.4

79 0.0 0.0 0.0 -2.9 0.0 0.0 5.9 -2.8 0.0 2.9 0.0 2.8 2.7 2.6 2.6 0.0



Netherlands







Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -28,775 5,268 -2,184 1,303 -31,781 -33,533 -28,791 -25,586


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 29 -1,065 -805 -735 133 977 -580

22=23-29 Net financial transactions : 5,239 -1,119 2,108 -31,046 -33,666 -29,768 -25,00623=24+..+28 Net acquisition of financial assets : -3,353 6,913 85,211 -25,829 -4,198 -8,806 8,083

24 Currency and deposits : -891 5,250 281 -673 -3,874 -16 1,39525 Debt securities : 230 149 33 22,593 -1,681 -1,343 -2,26926 Loans : 757 1,955 44,770 -27,450 -1,124 963 8,56327 Shares and other equity : -3,086 -211 37,097 -25,666 -1,415 -6,717 80728 Other financial assets : -363 -230 3,030 5,367 3,896 -1,693 -413

29=30+..+33 Net incurrence of liabilities : -8,592 8,032 83,103 5,217 29,468 20,962 33,08930 Currency and deposits : 470 1,756 -143 -875 -320 306 -59731 Debt securities : -4,909 5,234 73,593 -11,138 26,120 16,047 23,51232 Loans : -6,282 613 13,002 17,231 -1,398 6,497 10,56533 Other liabilities : 2,129 429 -3,349 -1 5,066 -1,888 -391


35=44(t)-44(t-1)-23 Other changes in financial assets : -11,656 9,488 8,056 7,257 5,054 7,892 14,04936=50(t)-50(t-1)-29 Other changes in liabilities : 2,037 743 11,899 -2,658 6,071 14,375 5,452

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -13,693 8,745 -3,843 9,915 -1,017 -6,483 8,597

38=34+37 = 56(t)-56(t-1)-77+21





48a of which, Investment fund shares : 117 1,606 2,161 1,936 1,818 1,617 1,32049 Other financial assets : 35,962 38,124 44,070 46,740 52,489 57,130 60,040



Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -28,775 5,268 -2,184 1,303 -31,781 -33,533 -28,791 -25,586

58=64(t)-64(t-1) Change in Government Debt : -10,319 8,190 87,807 773 23,994 22,480 31,15959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -5,051 6,006 89,110 -31,008 -9,539 -6,311 5,573

60=23 Net acquisition of financial assets -17,613 -3,353 6,913 85,211 -25,829 -4,198 -8,806 8,083

61=(-)33 Incurrence in liabilities not in government debt 3,061 -2,129 -429 3,349 1 -5,066 1,888 391

62 Valuation effects and other changes in volume in government debt : 402 587 1,355 -4,445 -450 -433 -1,934

63 Statistical discrepancies 626 29 -1,065 -805 -735 175 1,040 -96764=65+66+69 Government debt (nominal / face value) : 235,427 274,420 354,022 354,795 378,789 401,269 432,428






77=20+18-76 Net savings and capital transfers -27,723 8,238 -45 6,871 -24,163 -27,673 -24,284 -22,44178 GDP 329,547 452,007 550,883 647,198 624,842 639,187 650,359 652,966

79 Government employment (in thousands of persons) 997 1,063 1,122 1,138 1,155 1,172 1,151 1,134



Netherlands




2=3+4+5 139,097 147,961 155,687 165,039 180,552 170,514 10,038 03 71,765 75,663 76,313 81,627 85,077 79,245 5,832 -4 65,601 70,773 77,760 81,566 93,634 89,428 4,206 -5 1,731 1,525 1,614 1,846 1,841 1,841 0 06 100,932 102,015 99,833 107,486 105,540 2,156 1,419 101,9657 22,977 23,447 23,721 24,207 24,507 10,981 13,508 188 24,473 19,008 13,902 11,502 10,959 -88,290 9,232 69,785 20,2329 437 299 713 609 666 -2,548 1,184 2,007 23

10=11+..+18 307,259 307,182 307,826 308,695 313,265 -90,838 187,173 97,281 119,64911 42,501 44,190 43,482 42,765 43,081 15,853 26,105 1,12312 58,264 58,360 58,650 60,176 61,325 22,558 37,338 1,42913 10,295 9,857 8,980 8,151 7,347 -114 7,177 284 014 7,375 7,182 7,042 7,894 8,423 5,184 1,812 1,42715 146,941 148,327 149,171 152,477 155,477 24,232 17,241 114,004

15a 76,804 77,644 78,271 79,592 80,367 17,243 7,629 55,49516 12,772 12,927 13,175 9,093 10,452 -88,176 94,478 2,700 1,45017 5,690 4,251 4,596 5,525 3,871 -2,548 5,254 1,018 14718 23,421 22,088 22,730 22,614 23,289 12,437 10,783 6919 24,313 23,530 24,580 24,696 25,300 12,512 12,719 69

Government deficit

20=1-10 -19,343 -14,452 -13,970 148 8,959 6,894 -524 2,589


21=20-22 175 521 -476 -656 -78 -65 -13 0

22=23-29 -19,518 -14,973 -13,494 804 9,037 6,959 -511 2,58923=24+..+28 -4,784 -6,098 -20,018 -4,748 -9,105 -494 -8,805 -2,008 2,202

24 -4,007 -1,062 -864 1,761 2,274 -2,438 2,431 439 1,84225 -5,524 -4,812 -948 -611 -943 530 -193 -1,280 026 2,978 644 -4,391 -1,499 1,205 836 886 -517 027 1,361 -1,394 -4,315 -3,091 -5,659 0 -5,568 -91 028 408 526 -9,500 -1,308 -5,982 578 -6,361 -559 360

29=30+..+33 14,734 8,875 -6,524 -5,552 -18,142 -494 -15,764 -1,497 -38730 84 -190 848 1,993 -1,777 -2,438 661 - -31 17,023 9,679 -9,715 -3,801 -9,050 530 -10,489 909 032 -6,362 -695 -777 -2,722 -7,796 836 -6,931 -711 -99033 3,989 81 3,120 -1,022 481 578 995 -1,695 603


35=44(t)-44(t-1)-23 -2,355 15,565 10,742 6,590 3,910 203 3,621 86 036=50(t)-50(t-1)-29 -12,046 29,613 -4,670 5,677 -9,765 203 -9,816 -152 0

37=35-36 = 55(t)-55(t-1)-22 9,691 -14,048 15,412 913 13,675 13,437 238 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 404,942 407,298 405,545 407,340 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 240,195 249,662 240,386 242,228 237,033 -75,627 215,788 68,924 27,94845 12,982 11,765 10,897 12,078 14,288 -28,096 6,832 18,428 17,12446 14,379 9,914 9,054 8,628 7,700 -595 1,978 6,317 047 66,072 66,546 61,406 56,220 57,440 -33,577 83,536 7,481 048 90,472 89,599 96,707 100,081 99,141 -11 74,394 24,758 0

48a 570 494 530 663 441 : : :49 56,290 71,838 62,322 65,221 58,464 -13,348 49,048 11,940 10,824

50=51+..+54 515,203 553,691 542,497 542,622 514,715 -75,627 466,063 76,907 47,37251 1,162 972 1,820 3,813 2,036 -28,096 30,132 - -52 379,691 418,708 404,294 405,076 386,268 -595 384,410 2,453 053 96,024 95,265 94,454 91,805 83,902 -33,577 32,705 52,902 31,87254 38,326 38,746 41,929 41,928 42,509 -13,359 18,816 21,552 15,500

55=44-50 -275,008 -304,029 -302,111 -300,394 -277,682 -250,275 -7,983 -19,42456=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -19,343 -14,452 -13,970 148 8,959 6,894 -524 2,589

58=64(t)-64(t-1) 14,516 8,762 -9,648 -7,640 -18,640 -965 -16,670 -15 -99059 = 57+58 = 60+..+63 -4,827 -5,690 -23,618 -7,492 -9,681 -965 -9,776 -539 1,599

60=23 -4,784 -6,098 -20,018 -4,748 -9,105 -494 -8,805 -2,008 2,202

61=(-)33 -3,989 -81 -3,120 1,022 -481 -578 -995 1,695 -603

62 3,608 129 63 -3,151 -17 107 89 -213 0

63 338 360 -543 -615 -78 0 -65 -13 064=65+66+69 446,944 455,706 446,058 438,418 419,778 -62,183 394,759 55,330 31,872

65 1,162 972 1,820 3,813 2,036 -28,096 30,132 - -66=67+68 349,900 359,601 349,940 342,936 333,912 -510 331,969 2,453 0

67 26,151 23,441 14,051 16,605 16,950 0 16,950 0 068 323,749 336,160 335,889 326,331 316,962 -510 315,019 2,453 0

69=70+71 95,882 95,133 94,298 91,669 83,830 -33,577 32,658 52,877 31,87270 25,539 26,141 26,426 24,159 19,577 -31,877 14,538 5,046 31,87071 70,343 68,992 67,872 67,510 64,253 -1,700 18,120 47,831 272 14,096 14,684 14,015 14,015 14,015 : : :73 0 0 0 0 0 : : :

74=45+46+48a 27,931 22,173 20,481 21,369 22,429 : : :


77=20+18-76 -17,661 -14,349 -13,396 425 9,362 8,702 -1,908 2,56878 660,463 671,560 690,008 708,337 737,048

79 1,120 1,107 1,100 1,096 1,087

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Netherlands




2=3+4+5 Taxes 22.0 22.2 22.6 22.3 22.2 22.3 21.5 20.8 21.1 22.0 22.6 23.3 24.5 23.1 1.4 0.03 . Indirect taxes 10.4 11.1 11.7 11.3 11.1 11.0 10.8 10.6 10.9 11.3 11.1 11.5 11.5 10.8 0.8 -4 . Direct taxes 11.4 10.7 10.6 10.7 10.8 11.0 10.5 10.0 9.9 10.5 11.3 11.5 12.7 12.1 0.6 -5 . Capital taxes 0.2 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.3 0.2 0.2 0.3 0.2 0.2 0.0 0.06 Social contributions 15.8 15.1 12.9 13.8 13.2 13.5 14.2 15.1 15.3 15.2 14.5 15.2 14.3 0.3 0.2 13.87 Sales (incl. own account capital formation) 3.7 3.5 3.6 3.4 3.5 3.5 3.6 3.5 3.5 3.5 3.4 3.4 3.3 1.5 1.8 0.08 Other current revenue 3.4 2.4 2.7 3.8 3.5 3.2 3.0 3.5 3.7 2.8 2.0 1.6 1.5 -12.0 1.3 9.5 2.79 Capital revenue 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 -0.3 0.2 0.3 0.0



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -8.7 1.2 -0.4 0.2 -5.1 -5.2 -4.4 -3.9 -2.9 -2.2 -2.0 0.0 1.2 0.9 -0.1 0.4


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.0 -0.2 -0.1 -0.1 0.0 0.2 -0.1 0.0 0.1 -0.1 -0.1 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : 1.2 -0.2 0.3 -5.0 -5.3 -4.6 -3.8 -3.0 -2.2 -2.0 0.1 1.2 0.9 -0.1 0.423=24+..+28 Net acquisition of financial assets : -0.7 1.3 13.2 -4.1 -0.7 -1.4 1.2 -0.7 -0.9 -2.9 -0.7 -1.2 -0.1 -1.2 -0.3 0.3

24 Currency and deposits : -0.2 1.0 0.0 -0.1 -0.6 0.0 0.2 -0.6 -0.2 -0.1 0.2 0.3 -0.3 0.3 0.1 0.225 Debt securities : 0.1 0.0 0.0 3.6 -0.3 -0.2 -0.3 -0.8 -0.7 -0.1 -0.1 -0.1 0.1 0.0 -0.2 0.026 Loans : 0.2 0.4 6.9 -4.4 -0.2 0.1 1.3 0.5 0.1 -0.6 -0.2 0.2 0.1 0.1 -0.1 0.027 Shares and other equity : -0.7 0.0 5.7 -4.1 -0.2 -1.0 0.1 0.2 -0.2 -0.6 -0.4 -0.8 0.0 -0.8 0.0 0.028 Other financial assets : -0.1 0.0 0.5 0.9 0.6 -0.3 -0.1 0.1 0.1 -1.4 -0.2 -0.8 0.1 -0.9 -0.1 0.0

29=30+..+33 Net incurrence of liabilities : -1.9 1.5 12.8 0.8 4.6 3.2 5.1 2.2 1.3 -0.9 -0.8 -2.5 -0.1 -2.1 -0.2 -0.130 Currency and deposits : 0.1 0.3 0.0 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.1 0.3 -0.2 -0.3 0.1 - -31 Debt securities : -1.1 1.0 11.4 -1.8 4.1 2.5 3.6 2.6 1.4 -1.4 -0.5 -1.2 0.1 -1.4 0.1 0.032 Loans : -1.4 0.1 2.0 2.8 -0.2 1.0 1.6 -1.0 -0.1 -0.1 -0.4 -1.1 0.1 -0.9 -0.1 -0.133 Other liabilities : 0.5 0.1 -0.5 0.0 0.8 -0.3 -0.1 0.6 0.0 0.5 -0.1 0.1 0.1 0.1 -0.2 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : -2.6 1.7 1.2 1.2 0.8 1.2 2.2 -0.4 2.3 1.6 0.9 0.5 0.0 0.5 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.5 0.1 1.8 -0.4 0.9 2.2 0.8 -1.8 4.4 -0.7 0.8 -1.3 0.0 -1.3 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -3.0 1.6 -0.6 1.6 -0.2 -1.0 1.3 1.5 -2.1 2.2 0.1 1.9 1.8 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 61.1 53.3 55.4 54.7 58.7 59.5 60.1 61.0 61.3 60.6 58.8 57.5 : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :



50=51+..+54 Liabilities : 61.1 58.3 61.9 64.5 68.6 72.9 78.5 78.0 82.4 78.6 76.6 69.8 -10.3 63.2 10.4 6.451 Currency and deposits : 0.6 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 0.3 0.5 0.3 -3.8 4.1 - -52 Debt securities : 42.8 43.8 46.6 46.3 50.1 53.9 58.2 57.5 62.3 58.6 57.2 52.4 -0.1 52.2 0.3 0.053 Loans : 12.0 9.0 10.1 12.9 12.6 13.5 14.9 14.5 14.2 13.7 13.0 11.4 -4.6 4.4 7.2 4.354 Other liabilities : 5.8 5.0 4.8 5.0 5.7 5.3 5.2 5.8 5.8 6.1 5.9 5.8 -1.8 2.6 2.9 2.1

55=44-50 Financial net worth : -28.6 -31.2 -24.2 -28.5 -33.2 -38.3 -40.6 -41.6 -45.3 -43.8 -42.4 -37.7 -34.0 -1.1 -2.656=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -8.7 1.2 -0.4 0.2 -5.1 -5.2 -4.4 -3.9 -2.9 -2.2 -2.0 0.0 1.2 0.9 -0.1 0.4

58=64(t)-64(t-1) Change in Government Debt : -2.3 1.5 13.6 0.1 3.8 3.5 4.8 2.2 1.3 -1.4 -1.1 -2.5 -0.1 -2.3 0.0 -0.159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -1.1 1.1 13.8 -5.0 -1.5 -1.0 0.9 -0.7 -0.8 -3.4 -1.1 -1.3 -0.1 -1.3 -0.1 0.2

60=23 Net acquisition of financial assets -5.3 -0.7 1.3 13.2 -4.1 -0.7 -1.4 1.2 -0.7 -0.9 -2.9 -0.7 -1.2 -0.1 -1.2 -0.3 0.3

61=(-)33 Incurrence in liabilities not in government debt 0.9 -0.5 -0.1 0.5 0.0 -0.8 0.3 0.1 -0.6 0.0 -0.5 0.1 -0.1 -0.1 -0.1 0.2 -0.1

62Valuation effects and other changes in volume in government debt : 0.1 0.1 0.2 -0.7 -0.1 -0.1 -0.3 0.5 0.0 0.0 -0.4 0.0 0.0 0.0 0.0 0.0

63 Statistical discrepancies 0.2 0.0 -0.2 -0.1 -0.1 0.0 0.2 -0.1 0.1 0.1 -0.1 -0.1 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 52.1 49.8 54.7 56.8 59.3 61.7 66.2 67.7 67.9 64.6 61.9 57.0 -8.4 53.6 7.5 4.3

65 . Currency and deposits : 0.6 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 0.3 0.5 0.3 -3.8 4.1 - -66=67+68 . Debt securities : 39.5 40.3 44.2 43.6 46.4 48.0 51.1 53.0 53.5 50.7 48.4 45.3 -0.1 45.0 0.3 0.0





77=20+18-76 Net savings and capital transfers -8.4 1.8 0.0 1.1 -3.9 -4.3 -3.7 -3.4 -2.7 -2.1 -1.9 0.1 1.3 1.2 -0.3 0.378 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Netherlands




2=3+4+5 3.9 -1.1 2.5 9.3 6.8 5.8 2.5 -3.9 2.6 -1.6 -3.2 2.6 6.4 5.2 6.0 9.43 3.2 2.5 4.1 5.1 7.0 3.1 3.2 -5.5 1.7 -0.5 -1.8 4.1 5.4 0.9 7.0 4.24 4.0 -4.5 0.7 14.2 6.6 8.9 1.9 -2.2 3.6 -2.5 -4.6 0.6 7.9 9.9 4.9 14.85 29.5 -13.8 3.6 13.0 6.1 3.6 -4.6 1.1 -5.4 -10.4 -10.1 25.2 -11.9 5.8 14.4 -0.36 0.7 6.2 4.1 -2.6 11.6 2.0 10.8 -7.7 4.6 6.7 6.7 2.7 1.1 -2.1 7.7 -1.87 4.0 6.8 4.7 0.9 3.7 3.4 2.2 1.1 2.8 2.5 -1.3 0.8 2.0 1.2 2.0 1.28 -13.1 2.8 13.2 9.1 23.3 1.5 32.2 -10.1 -5.8 -4.1 14.5 8.0 -22.3 -26.9 -17.3 -4.79 -46.0 50.8 3.7 -1.0 89.6 -68.4 40.4 -3.7 51.8 -19.1 -4.7 20.1 -31.6 138.5 -14.6 9.4

10=11+..+18 5.7 4.6 0.7 1.1 7.9 4.4 6.4 6.6 2.9 -0.5 0.3 0.6 0.0 0.2 0.3 1.511 7.9 7.1 1.0 3.7 3.8 9.1 2.5 6.1 2.9 -2.5 -1.6 -0.4 4.0 -1.6 -1.6 0.712 7.0 5.4 1.9 1.4 2.3 3.6 5.9 5.3 2.6 -0.2 0.6 -0.2 0.2 0.5 2.6 1.913 -7.2 -5.6 1.1 -2.7 -1.5 3.4 8.5 -3.8 -10.3 2.2 -6.0 -6.0 -4.3 -8.9 -9.2 -9.914 1.1 -2.9 7.0 -4.1 2.1 19.7 3.9 24.0 2.5 -7.7 -8.5 -9.5 -2.6 -1.9 12.1 6.715 7.6 6.1 2.2 1.4 12.3 3.8 5.7 7.3 4.4 2.6 2.7 2.6 0.9 0.6 2.2 2.0

15a 4.1 5.8 2.1 0.4 3.0 1.9 4.8 6.5 5.2 3.4 2.8 4.8 1.1 0.8 1.7 1.016 -4.6 -4.2 8.5 7.0 18.5 -6.7 13.4 -22.4 19.5 -2.1 -1.7 0.7 1.2 1.9 -31.0 14.917 -24.2 4.0 -8.1 -4.5 3.6 -14.8 28.0 100.5 0.4 -33.6 1.7 21.6 -25.3 8.1 20.2 -29.918 14.7 5.4 -12.3 -3.3 9.4 7.1 11.4 10.5 -3.6 -3.3 -3.6 -4.5 -5.7 2.9 -0.5 3.019 11.6 3.9 -4.5 -0.8 11.0 3.7 7.8 5.4 -1.1 -0.3 -7.1 -1.6 -3.2 4.5 0.5 2.4

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -1.5 0.1 -1.9 5.2 -4.8 3.8 56.6 -10.6 -1.9 -3.9 3.6 -1.9 -2.5 -8.0 -2.0 -3.8

24 -6.0 9.3 2.2 32.5 -22.9 31.2 1.4 -3.3 -19.8 -0.1 8.9 -23.6 -8.2 -7.3 16.2 18.825 -7.3 -4.8 -7.9 5.5 -1.0 14.7 1.1 762.8 -7.0 -5.7 -10.0 -27.3 -33.5 -9.6 -6.7 -10.926 -4.2 -7.3 -3.0 7.0 -4.3 7.7 144.5 -36.2 -2.3 2.0 17.9 5.3 1.0 -6.6 -2.4 2.127 -1.2 -5.5 -1.4 -0.4 -7.6 -3.0 61.8 -25.5 -1.6 -7.7 1.0 1.5 -1.5 -4.8 -3.2 -5.728 3.0 10.6 -2.9 -0.6 9.1 -1.2 8.2 12.2 8.3 -3.2 -0.7 0.7 0.9 -13.2 -2.1 -9.2

29=30+..+33 3.0 5.4 2.6 2.6 -1.9 1.7 27.2 1.3 7.3 4.8 7.0 2.9 1.7 -1.2 -1.0 -3.330 -20.9 4.9 -34.6 138.8 -11.6 1.3 -5.3 -34.1 -18.9 22.4 -35.6 7.8 -16.4 87.2 109.5 -46.631 4.2 6.4 5.3 2.2 -4.1 -1.3 34.0 -3.7 9.0 5.0 6.7 4.5 2.5 -2.3 -0.9 -2.232 -1.6 -4.5 -2.6 1.3 -1.7 9.2 24.8 26.2 -1.7 8.0 12.1 -6.5 -0.7 -0.8 -2.9 -8.533 6.7 17.5 -6.6 1.6 18.0 11.6 -9.8 0.0 16.3 -5.2 -1.1 11.7 0.2 8.1 -2.4 1.1


35=44(t)-44(t-1)-23 -4.8 1.8 2.1 7.1 -2.4 4.9 5.4 3.0 2.2 3.5 6.2 -1.0 6.5 4.3 2.7 1.636=50(t)-50(t-1)-29 1.9 -0.9 1.0 0.2 -3.2 -1.5 3.9 -0.7 1.5 3.3 1.2 -2.4 5.7 -0.8 1.0 -1.8

37=35-36 = 55(t)-55(t-1)-22 8.7 -3.1 0.1 -4.9 -3.9 -6.7 2.5 -6.3 0.6 3.1 -3.5 -3.7 5.1 -5.1 -0.3 -4.6

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 6.3 6.0 2.6 2.7 4.6 4.8 5.9 3.6 3.7 2.7 2.0 1.6 0.6 -0.4 0.4 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 -6.3 1.9 0.3 12.4 -7.1 8.7 61.9 -7.6 0.4 -0.4 9.8 -2.9 3.9 -3.7 0.8 -2.145 -7.4 8.4 1.6 33.8 -29.5 28.8 3.1 -3.1 -19.4 -0.5 8.0 -23.5 -9.4 -7.4 10.8 18.346 -7.2 -5.6 -3.9 4.1 -7.0 15.5 -1.3 716.0 -2.0 -4.5 -10.5 -29.0 -31.1 -8.7 -4.7 -10.847 -2.8 -7.9 -2.8 7.0 -4.6 8.4 144.5 -36.2 -2.7 2.0 17.6 17.1 0.7 -7.7 -8.4 2.248 -14.4 -0.1 3.7 18.5 -5.6 12.2 68.0 -14.3 0.8 -6.2 14.5 -3.4 -1.0 7.9 3.5 -0.9

48a -18.4 225.8 166.3 99.0 -4.0 23.3 13.7 -10.4 -6.1 -11.1 -18.4 -56.8 -13.3 7.3 25.1 -33.549 4.0 11.1 -1.8 0.1 1.3 -4.3 19.3 6.1 12.3 8.8 5.1 -6.2 27.6 -13.2 4.7 -10.4

50=51+..+54 4.9 4.5 3.6 2.8 -5.1 0.3 31.1 0.6 8.8 8.1 8.1 0.5 7.5 -2.0 0.0 -5.151 -40.3 4.7 -34.1 138.8 -11.6 1.3 -5.3 -34.1 -18.9 22.4 -35.6 7.8 -16.4 87.2 109.5 -46.652 7.2 5.3 6.6 2.5 -7.6 -3.1 39.4 -4.0 10.6 9.4 8.4 0.0 10.3 -3.4 0.2 -4.653 -1.5 -4.9 -2.8 1.6 -2.5 8.7 25.1 23.2 -0.1 8.4 11.5 -1.6 -0.8 -0.9 -2.8 -8.654 6.7 17.4 -6.4 1.2 12.5 11.3 -9.5 0.5 16.5 -4.9 -1.3 12.6 1.1 8.2 0.0 1.4

55=44-50 16.3 6.6 6.1 -4.2 -3.4 -6.8 1.1 13.5 19.5 17.1 6.6 3.7 10.6 -0.6 -0.6 -7.656=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -4.5 -6.6 -3.8 -0.8 0.2 -0.2 0.5 -9.0 -9.5 -7.6 -6.4 -4.5 -3.2 -3.1 0.0 2.0

58=64(t)-64(t-1) 2.6 4.8 3.8 3.1 -3.7 0.7 33.0 0.2 6.8 5.9 7.8 3.4 2.0 -2.1 -1.7 -4.359 = 57+58 = 60+..+63 -1.9 -1.8 0.1 2.3 -3.5 0.5 33.5 -8.8 -2.7 -1.7 1.4 -1.1 -1.3 -5.2 -1.7 -2.2

60=23 -0.9 0.1 -1.0 2.6 -2.6 2.0 32.0 -7.3 -1.2 -2.3 2.0 -1.1 -1.4 -4.4 -1.1 -2.1

61=(-)33 -0.6 -1.8 0.7 -0.2 -1.8 -1.4 1.3 0.0 -1.4 0.5 0.1 -0.9 0.0 -0.7 0.2 -0.1

62 -0.2 0.2 0.1 0.2 0.4 0.1 0.5 -1.3 -0.1 -0.1 -0.5 0.8 0.0 0.0 -0.7 0.0

63 -0.1 -0.3 0.2 -0.4 0.5 -0.2 -0.3 -0.2 0.0 0.3 -0.2 0.1 0.1 -0.1 -0.1 0.064=65+66+69 2.6 4.8 3.8 3.1 -3.7 0.7 33.0 0.2 6.8 5.9 7.8 3.4 2.0 -2.1 -1.7 -4.3

65 -40.3 4.7 -34.1 138.8 -11.6 1.3 -5.3 -34.1 -18.9 22.4 -35.6 7.8 -16.4 87.2 109.5 -46.666=67+68 4.5 7.5 5.8 2.6 -3.9 -1.1 35.4 -4.7 9.0 5.2 6.9 4.8 2.8 -2.7 -2.0 -2.6

67 141.7 23.9 -12.1 0.8 -22.3 19.3 377.8 -30.9 -7.9 -18.5 -24.8 -20.7 -10.4 -40.1 18.2 2.168 -1.1 5.9 7.9 2.8 -2.1 -2.6 4.1 6.3 13.6 10.4 12.1 7.6 3.8 -0.1 -2.8 -2.9

69=70+71 -1.5 -4.9 -2.8 1.6 -2.5 8.7 25.1 23.2 -0.2 8.4 11.5 -1.6 -0.8 -0.9 -2.8 -8.670 6.2 -21.8 -28.7 -18.0 -12.8 150.9 19.3 -7.3 22.1 44.0 50.8 -3.4 2.4 1.1 -8.6 -19.071 -2.9 -1.4 1.4 3.8 -1.6 -2.7 26.3 29.2 -3.3 2.0 1.7 -0.9 -1.9 -1.6 -0.5 -4.872 : : : : : : : : 235.7 181.6 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a -7.4 7.2 3.4 32.4 -25.5 26.6 3.4 80.3 -9.6 -3.2 -3.6 -27.5 -20.6 -7.6 4.3 5.0

Table C - Memorandum items75 9.6 5.9 1.4 3.0 10.4 6.1 5.7 6.8 3.3 0.0 1.3 0.2 1.3 -0.1 1.4 2.276 6.3 4.8 3.7 3.5 4.0 4.7 4.6 2.8 4.0 2.3 2.1 1.7 1.1 0.8 0.8 2.5

77=20+18-7678 4.0 2.3 3.2 4.1 6.1 5.9 4.5 -3.5 2.3 1.7 0.4 1.1 1.7 2.7 2.7 4.1

79 2.4 2.3 -0.4 -1.2 -0.6 0.8 1.2 1.5 1.5 -1.8 -1.5 -1.2 -1.2 -0.6 -0.4 -0.8



Austria




2=3+4+5 Taxes 47,159 59,977 69,032 81,467 77,531 79,842 84,100 88,1233 . Indirect taxes 25,788 31,596 36,229 40,719 41,159 42,277 44,478 46,3994 . Direct taxes 21,288 28,270 32,663 40,605 36,243 37,521 39,571 41,6935 . Capital taxes 82 111 140 143 130 45 51 326 Social contributions 28,349 33,201 37,805 42,596 43,061 43,868 45,763 47,2527 Sales (incl . own account capital formation) 7,850 6,476 10,695 12,076 12,276 12,666 13,098 13,4828 Other current revenue 3,994 3,936 5,624 5,478 6,251 6,353 6,387 6,6969 Capital revenue 374 284 445 501 1,490 480 578 664



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : -803 1,152 -313 1,235 -341 335 223

22=23-29 Net financial transactions : -4,334 -7,525 -4,080 -16,587 -12,800 -8,255 -7,19823=24+..+28 Net acquisition of financial assets : 4,841 1,451 12,875 -5,195 151 1,818 -2,866

24 Currency and deposits : 1,721 834 9,327 -7,769 -14 3,303 -1,87225 Debt securities : 442 219 534 273 -2,113 -1,191 -1,47426 Loans : 2,448 205 1,291 -2,077 -683 1,314 3,22627 Shares and other equity : 20 527 337 3,824 1,524 -884 -40628 Other financial assets : 210 -333 1,386 555 1,436 -724 -2,340

29=30+..+33 Net incurrence of liabilities : 9,175 8,976 16,955 11,392 12,952 10,073 4,33230 Currency and deposits : 0 77 95 99 -3,093 -579 -2,44231 Debt securities : 7,279 5,009 15,373 10,930 12,868 7,924 7,38132 Loans : 425 2,876 -1,949 2,526 3,184 3,889 1,99733 Other liabilities : 1,471 1,013 3,436 -2,163 -7 -1,161 -2,603


35=44(t)-44(t-1)-23 Other changes in financial assets : 215 4,522 -6,477 21,428 9,830 759 15,64036=50(t)-50(t-1)-29 Other changes in liabilities : -1,545 18,557 5,379 19,854 5,579 5,377 28,605

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 1,760 -14,035 -11,855 1,574 4,250 -4,618 -12,966

38=34+37 = 56(t)-56(t-1)-77+21






50=51+..+54 Liabilities : 151,804 205,116 234,994 266,241 284,772 300,222 333,15951 Currency and deposits : 0 736 960 9,476 7,602 7,023 4,58152 Debt securities : 115,257 152,076 176,496 197,106 214,242 226,333 248,09553 Loans : 31,876 34,352 30,611 33,584 36,965 41,006 42,22654 Other liabilities : 4,671 17,952 26,928 26,075 25,963 25,860 38,257



58=64(t)-64(t-1) Change in Government Debt : : 16,418 17,135 28,205 14,682 10,987 5,35759 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 10,045 12,743 12,853 1,541 3,068 -1,618





65 . Currency and deposits : 0 736 960 9,476 7,602 7,022 4,58166=67+68 . Debt securities : 109,821 139,350 170,258 186,955 200,129 207,657 214,319


69=70+71 . Loans : 31,424 34,318 30,592 33,583 36,966 41,004 42,14170 .. short term : 1,166 4,471 2,613 2,564 3,089 4,691 2,18171 .. long term : 30,258 29,847 27,979 31,020 33,876 36,313 39,96072 Intergovernmental lending (asset)* : : : : 0 607 2,038 5,74173 Intergovernmental lending (borrowing)* : : : : 0 0 0 0







Austria




2=3+4+5 91,237 93,859 98,269 97,050 100,237 93,881 1,857 4,499 03 46,949 47,789 49,278 51,067 52,093 47,128 550 4,415 04 43,540 45,775 48,904 45,928 48,116 46,725 1,307 84 05 747 296 88 55 27 27 0 0 06 49,116 50,533 52,112 53,954 55,995 8,881 1,066 629 45,4197 13,858 14,083 14,755 15,253 15,615 8,224 2,385 4,874 1328 6,507 6,764 6,866 6,679 6,540 -63,192 4,597 28,507 19,670 16,9589 258 342 427 528 474 -1,107 347 272 917 45

10=11+..+18 167,292 174,672 176,032 179,085 181,809 -64,299 119,203 33,882 30,829 62,19411 21,082 21,276 21,884 22,497 22,998 9,565 5,421 7,046 96612 34,632 35,359 36,768 37,966 39,030 15,702 11,876 9,458 1,99513 8,428 8,119 8,069 7,439 6,801 -174 6,451 436 87 114 4,379 4,524 4,499 4,986 5,342 3,778 955 476 13315 74,029 76,587 78,506 80,872 82,071 19,125 5,631 4,359 52,955

15a 61,681 63,647 65,113 66,770 67,419 18,530 3,523 2,663 42,70216 10,388 10,795 11,670 11,936 11,174 -63,019 56,129 6,719 5,363 5,98217 4,543 8,282 4,431 2,752 2,971 -1,107 2,137 1,130 804 718 9,811 9,730 10,204 10,637 11,423 6,316 1,714 3,236 15619 9,851 9,850 10,261 10,633 11,399 6,316 1,684 3,243 156

Government deficit

20=1-10 -6,317 -9,092 -3,602 -5,622 -2,949 -3,273 205 -239 359


21=20-22 -30 -141 -611 7 -359 -323 -3 -13 -20

22=23-29 -6,287 -8,951 -2,990 -5,630 -2,589 -2,950 207 -226 37923=24+..+28 -1,710 -1,998 97 1,058 -6,025 -1,089 -6,029 -312 691 713

24 760 -941 3,377 5,383 -4,758 0 -5,665 -59 380 58625 -2,247 -2,616 -2,236 -801 -970 57 -802 -113 -92 -2026 920 739 -388 -2,215 -1,174 -1,067 -82 -119 95 -127 -958 -311 -1,047 196 -380 -7 22 -233 -356 19428 -185 1,132 391 -1,505 1,257 -71 497 212 665 -46

29=30+..+33 4,577 6,953 3,087 6,688 -3,436 -1,089 -3,079 -520 917 33430 -1,267 1,074 -1,507 165 -3,597 0 -3,597 0 0 031 4,299 1,297 5,025 9,743 -1,056 57 -323 -767 -23 032 433 1,076 -1,244 -2,838 -113 -1,067 302 349 441 -13833 1,112 3,506 812 -382 1,330 -78 539 -101 499 471


35=44(t)-44(t-1)-23 -4,561 21,971 11,056 3,767 2,594 24 1,356 1,225 19 -2936=50(t)-50(t-1)-29 -8,794 28,485 5,268 5,874 -6,030 24 -5,933 -77 -177 134

37=35-36 = 55(t)-55(t-1)-22 4,233 -6,513 5,788 -2,107 8,624 7,289 1,302 196 -163

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 196,189 199,926 203,854 209,035 215,399 : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 141,743 161,717 172,870 177,695 174,264 -19,213 109,848 45,252 23,921 14,45645 21,346 27,472 33,297 38,656 33,862 0 19,126 3,813 6,724 4,20046 9,507 8,772 8,687 8,016 6,708 -763 4,263 1,101 1,046 1,06047 35,882 45,829 48,352 45,535 43,336 -14,982 33,712 18,969 5,579 5848 51,798 54,818 56,157 60,541 64,625 -665 38,640 16,193 8,898 1,560

48a 7,598 8,556 8,780 9,335 9,841 : : : :49 23,211 24,826 26,377 24,945 25,732 -2,803 14,107 5,176 1,674 7,578

50=51+..+54 328,942 364,380 372,735 385,297 375,831 -19,213 329,620 29,110 27,597 8,71751 3,314 4,388 5,415 5,580 1,594 0 1,594 0 0 052 242,696 269,957 273,428 290,229 281,571 -763 275,047 6,494 793 053 42,635 48,536 49,957 45,243 45,911 -14,982 29,172 15,836 14,699 1,18754 40,297 41,500 43,936 44,245 46,755 -3,468 23,807 6,780 12,105 7,531

55=44-50 -187,199 -202,663 -199,865 -207,602 -201,567 -219,772 16,142 -3,675 5,73856=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -6,316 -9,092 -3,602 -5,622 -2,949 -3,273 205 -239 359

58=64(t)-64(t-1) 2,189 16,771 11,910 3,935 -6,179 -943 -4,908 -545 354 -13859 = 57+58 = 60+..+63 -4,128 7,679 8,308 -1,688 -9,128 -943 -8,181 -340 115 221

60=23 : -1,998 97 1,058 -6,025 -1,088 -6,029 -312 691 713

61=(-)33 : -3,506 -812 382 -1,330 78 -539 101 -499 -471

62 : 13,256 9,694 -2,859 -1,319 -26 -1,202 -91 : :

63 : -73 -671 -269 -454 49 -411 -39 -34 -2064=65+66+69 263,230 280,001 291,911 295,845 289,666 -15,057 266,670 21,599 15,267 1,187

65 3,314 4,388 5,415 5,580 1,594 0 1,594 0 0 066=67+68 217,370 227,186 236,976 245,368 242,587 -334 236,269 6,045 606 0

67 8,790 10,162 9,048 11,466 4,732 0 4,647 85 0 068 208,580 217,024 227,928 233,902 237,854 -334 231,622 5,960 606 0

69=70+71 42,546 48,426 49,520 44,897 45,485 -14,724 28,807 15,554 14,660 1,18770 2,021 2,812 2,252 1,738 2,191 -1,215 798 865 558 1,18571 40,525 45,615 47,268 43,159 43,294 -13,509 28,009 14,689 14,103 272 6,863 7,149 8,053 8,053 8,053 : : : :73 0 0 0 0 0 : : : :

74=45+46+48a 38,451 44,801 50,764 56,008 50,412 : : : :


77=20+18-76 -5,110 -8,118 -2,308 -4,129 -997 -2,023 289 401 33778 323,910 333,146 344,259 356,238 369,899

79 708 715 726 734 743

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Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -6.1 -2.4 -2.5 -1.5 -5.3 -4.4 -2.6 -2.2 -2.0 -2.7 -1.0 -1.6 -0.8 -0.9 0.1 -0.1 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.4 0.5 -0.1 0.4 -0.1 0.1 0.1 0.0 0.0 -0.2 0.0 -0.1 -0.1 0.0 0.0 0.0

22=23-29 Net financial transactions : -2.0 -3.0 -1.4 -5.8 -4.3 -2.7 -2.3 -1.9 -2.7 -0.9 -1.6 -0.7 -0.8 0.1 -0.1 0.123=24+..+28 Net acquisition of financial assets : 2.3 0.6 4.4 -1.8 0.1 0.6 -0.9 -0.5 -0.6 0.0 0.3 -1.6 -0.3 -1.6 -0.1 0.2 0.2

24 Currency and deposits : 0.8 0.3 3.2 -2.7 0.0 1.1 -0.6 0.2 -0.3 1.0 1.5 -1.3 0.0 -1.5 0.0 0.1 0.225 Debt securities : 0.2 0.1 0.2 0.1 -0.7 -0.4 -0.5 -0.7 -0.8 -0.6 -0.2 -0.3 0.0 -0.2 0.0 0.0 0.026 Loans : 1.1 0.1 0.4 -0.7 -0.2 0.4 1.0 0.3 0.2 -0.1 -0.6 -0.3 -0.3 0.0 0.0 0.0 0.027 Shares and other equity : 0.0 0.2 0.1 1.3 0.5 -0.3 -0.1 -0.3 -0.1 -0.3 0.1 -0.1 0.0 0.0 -0.1 -0.1 0.128 Other financial assets : 0.1 -0.1 0.5 0.2 0.5 -0.2 -0.7 -0.1 0.3 0.1 -0.4 0.3 0.0 0.1 0.1 0.2 0.0

29=30+..+33 Net incurrence of liabilities : 4.3 3.5 5.8 4.0 4.4 3.2 1.4 1.4 2.1 0.9 1.9 -0.9 -0.3 -0.8 -0.1 0.2 0.130 Currency and deposits : 0.0 0.0 0.0 0.0 -1.0 -0.2 -0.8 -0.4 0.3 -0.4 0.0 -1.0 0.0 -1.0 0.0 0.0 0.031 Debt securities : 3.4 2.0 5.2 3.8 4.3 2.6 2.3 1.3 0.4 1.5 2.7 -0.3 0.0 -0.1 -0.2 0.0 0.032 Loans : 0.2 1.1 -0.7 0.9 1.1 1.3 0.6 0.1 0.3 -0.4 -0.8 0.0 -0.3 0.1 0.1 0.1 0.033 Other liabilities : 0.7 0.4 1.2 -0.8 0.0 -0.4 -0.8 0.3 1.1 0.2 -0.1 0.4 0.0 0.1 0.0 0.1 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.1 1.8 -2.2 7.4 3.3 0.2 4.9 -1.4 6.6 3.2 1.1 0.7 0.0 0.4 0.3 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : -0.7 7.3 1.8 6.9 1.9 1.7 9.0 -2.7 8.6 1.5 1.6 -1.6 0.0 -1.6 0.0 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 0.8 -5.5 -4.0 0.5 1.4 -1.5 -4.1 1.3 -2.0 1.7 -0.6 2.3 2.0 0.4 0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : : :41 Fixed assets 73.8 54.3 57.8 57.1 60.5 61.1 60.3 60.2 60.6 60.0 59.2 58.7 58.2 : : : :42 Other produced assets : : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 35.6 35.8 36.2 42.6 44.8 43.6 46.5 43.8 48.5 50.2 49.9 47.1 -5.2 29.7 12.2 6.5 3.945 Currency and deposits : 4.6 4.7 7.8 7.9 6.5 7.3 6.4 6.6 8.2 9.7 10.9 9.2 0.0 5.2 1.0 1.8 1.146 Debt securities : 1.1 1.0 1.3 4.5 4.8 4.1 3.8 2.9 2.6 2.5 2.3 1.8 -0.2 1.2 0.3 0.3 0.347 Loans : 16.3 12.6 10.2 10.6 10.6 10.6 11.0 11.1 13.8 14.0 12.8 11.7 -4.1 9.1 5.1 1.5 0.048 Shares and other equity : 12.8 14.7 13.9 16.0 18.7 17.8 17.7 16.0 16.5 16.3 17.0 17.5 -0.2 10.4 4.4 2.4 0.4

48a of which, Investment fund shares : 0.8 2.5 2.5 2.8 2.9 2.6 2.6 2.3 2.6 2.6 2.6 2.7 : : : :49 Other financial assets : 0.7 2.8 3.1 3.6 4.2 3.9 7.6 7.2 7.5 7.7 7.0 7.0 -0.8 3.8 1.4 0.5 2.0

50=51+..+54 Liabilities : 71.1 80.7 80.0 92.4 96.2 96.8 104.6 101.6 109.4 108.3 108.2 101.6 -5.2 89.1 7.9 7.5 2.451 Currency and deposits : 0.0 0.3 0.3 3.3 2.6 2.3 1.4 1.0 1.3 1.6 1.6 0.4 0.0 0.4 0.0 0.0 0.052 Debt securities : 54.0 59.9 60.1 68.4 72.4 73.0 77.9 74.9 81.0 79.4 81.5 76.1 -0.2 74.4 1.8 0.2 0.053 Loans : 14.9 13.5 10.4 11.7 12.5 13.2 13.3 13.2 14.6 14.5 12.7 12.4 -4.1 7.9 4.3 4.0 0.354 Other liabilities : 2.2 7.1 9.2 9.1 8.8 8.3 12.0 12.4 12.5 12.8 12.4 12.6 -0.9 6.4 1.8 3.3 2.0

55=44-50 Financial net worth : -35.5 -44.9 -43.8 -49.8 -51.4 -53.2 -58.1 -57.8 -60.8 -58.1 -58.3 -54.5 -59.4 4.4 -1.0 1.656=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -6.1 -2.4 -2.5 -1.5 -5.3 -4.4 -2.6 -2.2 -2.0 -2.7 -1.0 -1.6 -0.8 -0.9 0.1 -0.1 0.1

58=64(t)-64(t-1) Change in Government Debt : : 6.5 5.8 9.8 5.0 3.5 1.7 0.7 5.0 3.5 1.1 -1.7 -0.3 -1.3 -0.1 0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 4.0 4.3 4.5 0.5 1.0 -0.5 -1.3 2.3 2.4 -0.5 -2.5 -0.3 -2.2 -0.1 0.0 0.1

60=23 Net acquisition of financial assets : : : : : : : : : -0.6 0.0 0.3 -1.6 -0.3 -1.6 -0.1 0.2 0.2

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -1.1 -0.2 0.1 -0.4 0.0 -0.1 0.0 -0.1 -0.1

62Valuation effects and other changes in volume in government debt : : : : : : : : : 4.0 2.8 -0.8 -0.4 0.0 -0.3 0.0 : :

63 Statistical discrepancies : : : : : : : : : 0.0 -0.2 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 66.1 68.6 68.7 79.9 82.7 82.4 81.9 81.3 84.0 84.8 83.0 78.3 -4.1 72.1 5.8 4.1 0.3

65 . Currency and deposits : 0.0 0.3 0.3 3.3 2.6 2.3 1.4 1.0 1.3 1.6 1.6 0.4 0.0 0.4 0.0 0.0 0.066=67+68 . Debt securities : 51.4 54.8 58.0 64.9 67.6 67.0 67.3 67.1 68.2 68.8 68.9 65.6 -0.1 63.9 1.6 0.2 0.0

67 .. short term : 3.1 0.4 3.4 3.4 3.1 1.9 2.6 2.7 3.1 2.6 3.2 1.3 0.0 1.3 0.0 0.0 0.068 .. long term : 48.3 54.4 54.5 61.5 64.6 65.0 64.7 64.4 65.1 66.2 65.7 64.3 -0.1 62.6 1.6 0.2 0.0

69=70+71 . Loans : 14.7 13.5 10.4 11.7 12.5 13.2 13.2 13.1 14.5 14.4 12.6 12.3 -4.0 7.8 4.2 4.0 0.370 .. short term : 0.5 1.8 0.9 0.9 1.0 1.5 0.7 0.6 0.8 0.7 0.5 0.6 -0.3 0.2 0.2 0.2 0.371 .. long term : 14.2 11.7 9.5 10.8 11.4 11.7 12.5 12.5 13.7 13.7 12.1 11.7 -3.7 7.6 4.0 3.8 0.072 Intergovernmental lending (asset)* : : : : 0.0 0.2 0.7 1.8 2.1 2.1 2.3 2.3 2.2 : : : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : : :

74=45+46+48a Government liquid assets : 6.5 8.2 11.6 15.2 14.2 14.0 12.7 11.9 13.4 14.7 15.7 13.6 : : : :


77=20+18-76 Net savings and capital transfers -5.2 -2.2 -2.1 -0.7 -4.6 -3.8 -2.2 -1.9 -1.6 -2.4 -0.7 -1.2 -0.3 -0.5 0.1 0.1 0.178 GDP



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2=3+4+5 -0.7 1.1 3.2 1.7 3.5 7.3 6.2 -4.8 3.0 5.3 4.8 3.5 2.9 4.7 -1.2 3.33 3.5 1.2 3.5 2.7 2.4 5.1 4.5 1.1 2.7 5.2 4.3 1.2 1.8 3.1 3.6 2.04 -4.8 1.0 2.9 0.7 4.9 9.8 8.0 -10.7 3.5 5.5 5.4 4.4 5.1 6.8 -6.1 4.85 -10.7 6.0 -1.7 -9.5 -5.6 17.7 -8.1 -9.0 -65.4 13.4 -37.7 2259.6 -60.4 -70.3 -37.5 -50.36 1.4 2.3 3.7 2.6 3.9 4.1 4.2 1.1 1.9 4.3 3.3 3.9 2.9 3.1 3.5 3.87 7.6 4.5 3.3 28.9 4.4 3.1 4.8 1.7 3.2 3.4 2.9 2.8 1.6 4.8 3.4 2.48 3.5 4.8 1.4 8.1 0.8 7.6 -10.2 14.1 1.6 0.5 4.8 -2.8 3.9 1.5 -2.7 -2.19 22.5 -3.2 1.1 39.4 19.6 43.8 -34.5 197.2 -67.8 20.6 14.7 -61.1 32.5 24.9 23.7 -10.3

10=11+..+18 2.2 2.7 9.5 -0.1 3.8 3.6 4.8 6.5 0.3 1.0 3.4 2.5 4.4 0.8 1.7 1.511 3.7 4.7 4.0 19.4 5.4 0.4 7.7 5.8 1.9 1.6 1.9 2.2 0.9 2.9 2.8 2.212 2.1 2.5 3.2 6.6 3.8 2.9 4.8 4.0 1.6 1.1 2.4 1.2 2.1 4.0 3.3 2.813 -1.8 -5.6 -1.2 12.4 2.6 6.0 -2.8 4.6 -5.4 0.9 0.1 -2.5 -3.7 -0.6 -7.8 -8.614 -0.1 10.8 0.1 -13.1 4.2 -0.9 9.3 1.7 -1.8 -1.2 3.1 -7.0 3.3 -0.6 10.8 7.115 4.4 3.7 3.3 2.8 4.0 3.5 4.9 5.8 3.4 1.6 3.7 3.9 3.5 2.5 3.0 1.5

15a 4.0 3.5 2.7 2.7 3.4 2.7 4.6 6.2 3.5 1.1 3.6 3.7 3.2 2.3 2.5 1.016 -5.2 6.3 -8.9 12.3 -2.6 3.9 4.2 1.4 6.7 2.9 5.1 5.7 3.9 8.1 2.3 -6.417 -16.6 -11.5 296.4 -73.1 20.6 -3.7 -10.6 90.4 -42.7 -4.0 30.6 -1.5 82.3 -46.5 -37.9 8.018 13.3 -0.2 -0.9 27.8 -0.4 18.6 10.6 -1.0 0.5 -4.4 -0.9 5.5 -0.8 4.9 4.2 7.419 11.7 -3.2 1.2 27.7 3.4 9.9 12.6 2.0 -1.0 -2.3 -0.3 5.3 0.0 4.2 3.6 7.2

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 3.0 0.5 -5.8 1.7 -0.2 5.0 12.9 -4.9 0.1 1.4 -2.1 -1.2 -1.4 0.1 0.6 -3.4

24 -21.9 -3.1 -7.3 7.6 -2.4 17.3 69.5 -34.1 -0.1 17.1 -8.3 3.7 -4.4 12.3 16.2 -12.325 72.0 -40.0 -0.3 9.8 -9.4 25.9 18.1 7.1 -16.3 -8.4 -11.6 -18.8 -27.5 -25.5 -9.2 -12.126 2.8 0.6 -13.6 0.6 0.8 -6.2 4.4 -6.9 -2.2 4.2 9.8 2.6 2.1 -0.8 -4.6 -2.627 9.9 0.9 -0.6 1.5 -0.6 3.5 0.8 9.4 3.3 -1.6 -0.7 -1.7 -0.6 -1.9 0.3 -0.628 21.4 63.0 22.0 -5.9 3.9 36.0 13.1 6.1 13.9 -5.9 -19.4 -0.8 4.9 1.6 -5.7 5.0

29=30+..+33 3.6 2.8 3.5 5.1 3.9 4.2 8.0 4.8 4.9 3.5 1.4 1.4 2.1 0.8 1.8 -0.930 27.7 14.4 11.7 6.8 10.1 11.0 10.3 -32.6 -7.6 -34.8 -27.7 32.4 -34.3 3.0 -64.531 5.7 4.8 2.7 3.5 5.1 4.9 10.0 6.2 6.5 3.7 3.3 1.7 0.5 1.9 3.6 -0.432 -6.9 -8.7 7.4 10.9 -1.3 -3.2 -6.0 8.3 9.5 10.5 4.9 1.0 2.5 -2.6 -5.7 -0.233 11.5 6.6 4.3 10.9 3.4 10.4 13.4 -8.0 0.0 -4.5 -10.1 2.9 8.7 2.0 -0.9 3.0


35=44(t)-44(t-1)-23 -0.4 2.3 2.9 5.3 5.0 0.0 -6.5 20.1 8.0 0.6 11.6 -3.1 15.5 6.8 2.2 1.536=50(t)-50(t-1)-29 4.3 -2.5 -0.3 10.4 -1.8 -2.7 2.5 8.4 2.1 1.9 9.5 -2.6 8.7 1.4 1.6 -1.6

37=35-36 = 55(t)-55(t-1)-22 9.4 -7.2 -3.6 15.2 -7.2 -4.9 10.5 -1.2 -3.0 3.0 7.9 -2.3 3.5 -2.9 1.1 -4.2

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 1.3 1.8 2.4 18.6 3.9 4.9 4.8 4.0 3.8 3.3 2.6 2.2 1.9 2.0 2.5 3.042 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 2.6 2.7 -3.0 7.0 4.7 5.0 6.4 15.2 8.1 1.9 9.4 -4.2 14.1 6.9 2.8 -1.945 -19.0 -2.9 -7.1 9.0 -7.6 21.6 69.7 0.1 -15.1 17.0 -9.7 4.3 28.7 21.2 16.1 -12.446 69.5 -41.1 -0.8 8.9 22.4 -0.9 30.4 236.0 9.5 -10.5 -5.7 -20.5 -7.7 -1.0 -7.7 -16.347 -0.7 5.2 -14.5 0.2 1.2 -10.7 3.1 1.7 3.6 4.0 7.2 2.2 27.7 5.5 -5.8 -4.848 9.5 1.7 8.9 9.6 10.7 6.2 -7.4 13.2 19.7 -0.4 2.3 -8.0 5.8 2.4 7.8 6.7

48a 136.4 5.4 7.6 23.5 25.8 5.3 -12.5 8.6 6.2 -6.8 2.3 -6.8 12.6 2.6 6.3 5.449 55.0 66.0 18.8 25.3 3.6 44.3 -14.2 13.8 19.1 -2.0 100.0 -4.0 7.0 6.3 -5.4 3.2

50=51+..+54 7.9 0.3 3.2 15.5 2.1 1.6 10.5 13.3 7.0 5.4 11.0 -1.3 10.8 2.3 3.4 -2.551 27.7 14.4 11.7 6.8 10.1 11.0 887.1 -19.8 -7.6 -34.8 -27.7 32.4 23.4 3.0 -71.452 7.8 1.9 3.5 7.6 0.3 0.8 14.8 11.7 8.7 5.6 9.6 -2.2 11.2 1.3 6.1 -3.053 -7.4 -9.2 6.6 30.5 -2.3 -3.3 -5.7 9.7 10.1 10.9 3.0 1.0 13.8 2.9 -9.4 1.554 86.2 4.8 -9.9 93.7 25.6 13.6 5.1 -3.2 -0.4 -0.4 47.9 5.3 3.0 5.9 0.7 5.7

55=44-50 13.6 -2.0 9.6 23.3 0.0 -1.3 14.2 11.7 6.0 8.5 12.2 1.1 8.3 -1.4 3.9 -2.956=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 2.8 0.9 3.5 10.4 3.4 2.4 9.3 14.0 6.4 4.5 2.1 0.8 6.4 4.3 1.3 -2.159 = 57+58 = 60+..+63 0.7 -1.8 -4.2 6.4 -0.5 0.3 6.9 6.4 0.7 1.3 -0.6 -1.6 2.9 3.0 -0.6 -3.1

60=23 : : : : : : : : : : : : -0.8 0.0 0.4 -2.0

61=(-)33 : : : : : : : : : : : : -1.3 -0.3 0.1 -0.4

62 : : : : : : : : : : : : 5.0 3.5 -1.0 -0.4

63 : : : : : : : : : : : : 0.0 -0.2 -0.1 -0.264=65+66+69 2.8 0.9 3.5 10.4 3.4 2.4 9.3 14.0 6.4 4.5 2.1 0.8 6.4 4.3 1.3 -2.1

65 27.7 14.4 11.7 6.8 10.1 11.0 887.1 -19.8 -7.6 -34.8 -27.7 32.4 23.4 3.0 -71.466=67+68 4.8 3.2 2.6 6.4 4.7 3.7 12.5 9.8 7.0 3.8 3.2 1.4 4.5 4.3 3.5 -1.1

67 -40.2 -40.9 24.4 -42.4 62.0 27.6 353.9 -2.3 -6.8 -33.8 36.9 6.2 15.6 -11.0 26.7 -58.768 6.4 4.1 2.3 7.1 4.3 3.5 7.4 10.6 7.8 5.6 2.2 1.2 4.0 5.0 2.6 1.7

69=70+71 -6.7 -10.0 7.9 30.1 -2.2 -3.4 -5.7 9.8 10.1 10.9 2.8 1.0 13.8 2.3 -9.3 1.370 -4.7 18.7 47.0 59.6 -1.5 0.9 -41.1 -1.9 20.5 51.9 -53.5 -7.3 39.1 -19.9 -22.8 26.171 -6.8 -11.8 4.6 26.6 -2.3 -4.0 0.0 10.9 9.2 7.2 10.0 1.4 12.6 3.6 -8.7 0.372 : : : : : : : : 235.6 181.7 19.6 4.2 12.6 0.0 0.073 : : : : : : : :

74=45+46+48a 7.1 -8.2 -2.6 13.1 6.2 12.6 37.0 28.6 -3.9 2.9 -6.3 -5.2 16.5 13.3 10.3 -10.0


77=20+18-7678 2.8 2.3 4.5 4.8 5.4 6.0 3.4 -1.9 2.7 4.8 2.7 1.6 2.9 3.3 3.5 3.8

79 0.3 -0.3 0.3 6.1 0.6 -0.1 0.7 2.0 0.6 0.1 0.4 0.3 1.0 1.5 1.1 1.2



Poland




2=3+4+5 Taxes 87,951 149,653 205,058 293,033 274,776 296,319 322,885 325,7973 . Indirect taxes 48,938 96,555 136,976 185,201 176,322 199,480 217,235 212,1094 . Direct taxes 38,969 52,926 67,840 107,488 98,141 96,549 105,371 113,3955 . Capital taxes 44 172 242 344 313 290 279 2936 Social contributions 42,107 104,315 131,268 157,285 166,357 171,273 190,511 212,1707 Sales (incl . own account capital formation) 14,366 30,824 32,136 36,314 36,893 38,140 38,123 40,0978 Other current revenue 6,053 7,834 26,525 31,353 32,986 32,025 33,606 38,8019 Capital revenue 180 -531 5,490 5,381 7,541 18,182 26,759 21,017



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : -377 -60 -178 -945 198 -1,283 -517

22=23-29 Net financial transactions : -21,817 -39,181 -46,122 -98,577 -106,314 -74,351 -59,96323=24+..+28 Net acquisition of financial assets : -16,583 8,268 4,153 -16,120 -12,914 -21,686 -2,562

24 Currency and deposits : 5,248 7,180 6,170 955 -2,942 -9,382 12,86725 Debt securities : 0 222 -56 -117 601 -1 49426 Loans : -355 179 -1,256 -275 2,742 1,203 -19927 Shares and other equity : -27,884 -2,516 -2,229 -5,787 -23,557 -20,417 -17,08228 Other financial assets : 6,408 3,203 1,524 -10,896 10,242 6,911 1,358

29=30+..+33 Net incurrence of liabilities : 5,234 47,449 50,275 82,457 93,400 52,665 57,40130 Currency and deposits : 201 -35 0 -1 0 0 031 Debt securities : 13,540 68,423 36,066 58,332 67,123 28,883 39,36632 Loans : 312 -23,513 6,898 25,034 22,082 21,335 12,52133 Other liabilities : -8,819 2,574 7,311 -908 4,195 2,447 5,514


35=44(t)-44(t-1)-23 Other changes in financial assets : 16,615 16,761 60,822 25,537 14,114 9,125 -3,43236=50(t)-50(t-1)-29 Other changes in liabilities : 21,431 -1,553 29,062 9,696 8,775 25,837 32,649

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -4,816 18,314 31,760 15,841 5,339 -16,712 -36,081

38=34+37 = 56(t)-56(t-1)-77+21






50=51+..+54 Liabilities : 336,291 541,393 686,272 778,425 880,600 959,102 1,049,15251 Currency and deposits : 201 6 0 0 0 0 052 Debt securities : 134,124 397,516 527,108 587,151 659,773 708,962 789,66153 Loans : 134,022 75,052 67,789 92,780 115,045 144,007 150,47654 Other liabilities : 67,944 68,819 91,375 98,494 105,782 106,133 109,015



58=64(t)-64(t-1) Change in Government Debt : 9,880 39,703 70,980 82,948 89,516 79,864 27,55259 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -12,314 462 24,680 -16,574 -16,600 4,230 -32,928

60=23 Net acquisition of financial assets : -16,583 8,269 4,154 -16,121 -12,914 -21,687 -2,562

61=(-)33 Incurrence in liabilities not in government debt : 8,819 -2,574 -7,310 908 -4,195 -2,447 -5,514

62 Valuation effects and other changes in volume in government debt : -2,122 -6,975 27,844 -414 316 29,648 -24,336

63 Statistical discrepancies : -2,428 1,742 -8 -947 193 -1,284 -51664=65+66+69 Government debt (nominal / face value) : 272,317 459,985 595,380 678,328 767,844 847,708 875,260



69=70+71 . Loans : 132,634 74,753 67,614 92,409 114,563 143,331 149,92670 .. short term : 1,618 8,590 834 4,852 846 936 1,14271 .. long term : 131,016 66,163 66,780 87,557 113,717 142,395 148,78472 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 0 0 0 0



77=20+18-76 Net savings and capital transfers -14,644 -27,086 -29,110 -13,762 -60,425 -57,147 -20,635 -23,10978 GDP 344,683 747,032 990,468 1,286,069 1,372,208 1,445,298 1,566,824 1,629,425

79 Government employment (in thousands of persons) : : : : : 2,461 2,523 2,582



Poland




2=3+4+5 324,479 337,742 355,985 384,506 420,559 334,324 86,235 03 213,051 220,846 231,106 251,755 274,359 250,619 23,740 -4 111,176 116,633 124,634 132,472 145,905 83,705 62,200 -5 252 263 246 279 295 - 295 -6 221,237 227,207 243,183 256,530 275,628 16,949 1,108 257,5717 39,829 44,010 44,382 45,235 46,979 25,973 21,005 18 36,252 36,386 38,152 26,719 31,636 -224,065 37,632 149,519 68,5509 15,807 20,653 19,875 10,443 14,828 -41,761 10,443 9,557 36,589

10=11+..+18 705,750 729,368 750,196 765,040 817,600 -265,826 495,450 266,235 321,74111 96,562 98,257 102,301 103,320 109,988 44,074 64,090 1,82412 171,814 181,363 186,968 193,333 203,079 92,346 106,903 3,83013 41,509 33,630 31,656 31,770 31,273 -1,254 30,737 1,782 814 11,032 11,278 8,642 9,867 10,056 7,220 575 2,26115 272,005 280,359 291,866 319,480 337,460 28,059 46,505 262,896

15a 239,914 247,541 257,215 284,142 299,932 27,369 41,406 231,15716 38,752 36,657 39,906 37,335 37,530 -222,811 197,778 12,330 50,23317 10,494 12,867 10,734 9,836 13,612 -41,761 52,033 2,823 51718 63,582 74,958 78,123 60,099 74,602 43,203 31,227 17219 68,514 80,106 81,505 61,180 75,171 41,326 33,669 176

Government deficit

20=1-10 -68,146 -63,370 -48,620 -41,607 -27,970 -70,129 1,189 40,970


21=20-22 -751 -334 -424 468 387 107 -220 500

22=23-29 -67,395 -63,036 -48,196 -42,075 -28,357 -70,236 1,409 40,47023=24+..+28 -19,388 13,309 -513 39,281 3,473 35,856 -41,236 2,251 6,602

24 -18,879 11,198 -17,138 18,125 -2,577 -1,850 -7,565 1,038 5,80025 3,220 -3,877 143 2,390 4,066 -1,660 3,869 0 1,85726 -19 2,943 -212 1,072 459 39,172 -38,512 -199 -227 -9,569 3,525 -1,277 -4,560 -1,616 0 -2,173 -75 63228 5,859 -480 17,971 22,254 3,141 194 3,145 1,487 -1,685

29=30+..+33 48,007 76,345 47,683 81,356 31,830 35,856 29,000 842 -33,86830 0 391 3,851 -157 193 -1,850 2,043 0 031 34,338 -100,779 31,601 69,949 21,531 -1,660 23,525 -334 032 12,354 16,156 11,182 -2,661 -1,497 39,172 -2,054 537 -39,15233 1,315 160,577 1,049 14,225 11,603 194 5,486 639 5,284


35=44(t)-44(t-1)-23 -2,551 16,149 11,066 10,350 5,447 217 2,151 -403 3,48236=50(t)-50(t-1)-29 -20,379 60,344 -3,837 10,192 -25,852 217 -25,944 -232 107

37=35-36 = 55(t)-55(t-1)-22 17,828 -44,195 14,903 158 31,299 28,095 -171 3,375

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 557,478 565,257 569,897 : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 454,506 483,964 494,517 544,148 553,068 -62,749 404,749 136,233 74,83545 57,722 78,708 64,962 90,321 87,764 -15,648 48,461 31,724 23,22746 6,384 2,508 2,720 5,506 9,611 -32,257 9,349 31 32,48847 15,663 19,319 18,557 21,494 21,242 -9,267 24,750 5,746 1348 262,345 266,677 267,380 263,556 264,512 0 193,540 67,406 3,566

48a 0 0 0 0 0 : : :49 112,392 116,752 140,898 163,271 169,939 -5,577 128,649 31,326 15,541

50=51+..+54 1,076,780 1,213,469 1,257,315 1,348,863 1,354,841 -62,749 1,114,572 108,513 194,50551 0 391 4,241 4,084 4,277 -15,648 19,925 0 052 803,487 746,901 771,591 842,359 842,496 -32,257 868,950 5,803 053 163,542 189,656 202,348 204,325 200,815 -9,267 132,754 70,154 7,17454 109,751 276,521 279,135 298,095 307,253 -5,577 92,943 32,556 187,331

55=44-50 -622,274 -729,505 -762,798 -804,715 -801,773 -709,823 27,720 -119,67056=39-50=40+55 : : : : : : : :


58=64(t)-64(t-1) 47,495 -55,410 55,861 86,010 -3,528 35,639 237 -252 -39,15259 = 57+58 = 60+..+63 -20,651 -118,780 7,241 44,403 -31,498 35,639 -69,892 937 1,818

60=23 -19,388 13,309 -513 39,281 3,473 35,856 -41,236 2,251 6,602

61=(-)33 -1,315 -160,577 -1,049 -14,225 -11,603 -194 -5,486 -639 -5,284

62 803 28,821 9,227 18,880 -23,755 -24 -23,276 -455 0

63 -751 -333 -424 467 387 0 107 -220 50064=65+66+69 922,755 867,345 923,206 1,009,216 1,005,688 -55,882 978,447 75,949 7,174

65 0 391 4,242 4,084 4,277 -15,647 19,924 0 066=67+68 759,550 677,898 716,694 801,294 801,197 -30,968 826,365 5,800 0

67 2 1,590 2,922 2,508 1,481 1 1,241 239 068 759,548 676,308 713,772 798,786 799,716 -30,969 825,124 5,561 0

69=70+71 163,205 189,056 202,270 203,838 200,214 -9,267 132,158 70,149 7,17470 1,041 1,659 3,066 1,488 2,415 -167 1,441 1,141 071 162,164 187,397 199,204 202,350 197,799 -9,100 130,717 69,008 7,17472 0 0 0 0 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 64,106 81,216 67,682 95,827 97,375 : : :


77=20+18-76 -41,562 -29,496 -12,339 -24,850 1,603 -52,762 13,628 40,73778 1,656,895 1,720,430 1,800,228 1,861,112 1,988,730

79 2,609 2,639 2,712 2,685 :

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Poland




2=3+4+5 Taxes 25.5 20.0 20.7 22.8 20.0 20.5 20.6 20.0 19.6 19.6 19.8 20.7 21.1 16.8 4.3 0.03 . Indirect taxes 14.2 12.9 13.8 14.4 12.8 13.8 13.9 13.0 12.9 12.8 12.8 13.5 13.8 12.6 1.2 -4 . Direct taxes 11.3 7.1 6.8 8.4 7.2 6.7 6.7 7.0 6.7 6.8 6.9 7.1 7.3 4.2 3.1 -5 . Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - 0.0 -6 Social contributions 12.2 14.0 13.3 12.2 12.1 11.9 12.2 13.0 13.4 13.2 13.5 13.8 13.9 0.9 0.1 13.07 Sales (incl. own account capital formation) 4.2 4.1 3.2 2.8 2.7 2.6 2.4 2.5 2.4 2.6 2.5 2.4 2.4 1.3 1.1 0.08 Other current revenue 1.8 1.0 2.7 2.4 2.4 2.2 2.1 2.4 2.2 2.1 2.1 1.4 1.6 -11.3 1.9 7.5 3.49 Capital revenue 0.1 -0.1 0.6 0.4 0.5 1.3 1.7 1.3 1.0 1.2 1.1 0.6 0.7 -2.1 0.5 0.5 1.8



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.1 0.0 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -2.9 -4.0 -3.6 -7.2 -7.4 -4.7 -3.7 -4.1 -3.7 -2.7 -2.3 -1.4 -3.5 0.1 2.023=24+..+28 Net acquisition of financial assets : -2.2 0.8 0.3 -1.2 -0.9 -1.4 -0.2 -1.2 0.8 0.0 2.1 0.2 1.8 -2.1 0.1 0.3

24 Currency and deposits : 0.7 0.7 0.5 0.1 -0.2 -0.6 0.8 -1.1 0.7 -1.0 1.0 -0.1 -0.1 -0.4 0.1 0.325 Debt securities : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.2 0.0 0.1 0.2 -0.1 0.2 0.0 0.126 Loans : 0.0 0.0 -0.1 0.0 0.2 0.1 0.0 0.0 0.2 0.0 0.1 0.0 2.0 -1.9 0.0 0.027 Shares and other equity : -3.7 -0.3 -0.2 -0.4 -1.6 -1.3 -1.0 -0.6 0.2 -0.1 -0.2 -0.1 0.0 -0.1 0.0 0.028 Other financial assets : 0.9 0.3 0.1 -0.8 0.7 0.4 0.1 0.4 0.0 1.0 1.2 0.2 0.0 0.2 0.1 -0.1

29=30+..+33 Net incurrence of liabilities : 0.7 4.8 3.9 6.0 6.5 3.4 3.5 2.9 4.4 2.6 4.4 1.6 1.8 1.5 0.0 -1.730 Currency and deposits : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 -0.1 0.1 0.0 0.031 Debt securities : 1.8 6.9 2.8 4.3 4.6 1.8 2.4 2.1 -5.9 1.8 3.8 1.1 -0.1 1.2 0.0 0.032 Loans : 0.0 -2.4 0.5 1.8 1.5 1.4 0.8 0.7 0.9 0.6 -0.1 -0.1 2.0 -0.1 0.0 -2.033 Other liabilities : -1.2 0.3 0.6 -0.1 0.3 0.2 0.3 0.1 9.3 0.1 0.8 0.6 0.0 0.3 0.0 0.3


35=44(t)-44(t-1)-23 Other changes in financial assets : 2.2 1.7 4.7 1.9 1.0 0.6 -0.2 -0.2 0.9 0.6 0.6 0.3 0.0 0.1 0.0 0.236=50(t)-50(t-1)-29 Other changes in liabilities : 2.9 -0.2 2.3 0.7 0.6 1.6 2.0 -1.2 3.5 -0.2 0.5 -1.3 0.0 -1.3 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -0.6 1.8 2.5 1.2 0.4 -1.1 -2.2 1.1 -2.6 0.8 0.0 1.6 1.4 0.0 0.2

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : 33.0 33.6 32.9 31.7 : : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :



50=51+..+54 Liabilities : 45.0 54.7 53.4 56.7 60.9 61.2 64.4 65.0 70.5 69.8 72.5 68.1 -3.2 56.0 5.5 9.851 Currency and deposits : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 -0.8 1.0 0.0 0.052 Debt securities : 18.0 40.1 41.0 42.8 45.6 45.2 48.5 48.5 43.4 42.9 45.3 42.4 -1.6 43.7 0.3 0.053 Loans : 17.9 7.6 5.3 6.8 8.0 9.2 9.2 9.9 11.0 11.2 11.0 10.1 -0.5 6.7 3.5 0.454 Other liabilities : 9.1 6.9 7.1 7.2 7.3 6.8 6.7 6.6 16.1 15.5 16.0 15.4 -0.3 4.7 1.6 9.4

55=44-50 Financial net worth : -15.3 -22.6 -15.7 -20.7 -26.7 -30.4 -35.1 -37.6 -42.4 -42.4 -43.2 -40.3 -35.7 1.4 -6.056=39-50=40+55 Net worth : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt : 1.3 4.0 5.5 6.0 6.2 5.1 1.7 2.9 -3.2 3.1 4.6 -0.2 1.8 0.0 0.0 -2.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -1.6 0.0 1.9 -1.2 -1.1 0.3 -2.0 -1.2 -6.9 0.4 2.4 -1.6 1.8 -3.5 0.0 0.1

60=23 Net acquisition of financial assets : -2.2 0.8 0.3 -1.2 -0.9 -1.4 -0.2 -1.2 0.8 0.0 2.1 0.2 1.8 -2.1 0.1 0.3

61=(-)33 Incurrence in liabilities not in government debt : 1.2 -0.3 -0.6 0.1 -0.3 -0.2 -0.3 -0.1 -9.3 -0.1 -0.8 -0.6 0.0 -0.3 0.0 -0.3

62Valuation effects and other changes in volume in government debt : -0.3 -0.7 2.2 0.0 0.0 1.9 -1.5 0.0 1.7 0.5 1.0 -1.2 0.0 -1.2 0.0 0.0

63 Statistical discrepancies : -0.3 0.2 0.0 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 36.5 46.4 46.3 49.4 53.1 54.1 53.7 55.7 50.4 51.3 54.2 50.6 -2.8 49.2 3.8 0.4






77=20+18-76 Net savings and capital transfers -4.2 -3.6 -2.9 -1.1 -4.4 -4.0 -1.3 -1.4 -2.5 -1.7 -0.7 -1.3 0.1 -2.7 0.7 2.078 GDP



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2=3+4+5 7.9 2.7 9.8 11.1 12.2 17.2 8.6 -6.2 7.8 9.0 0.9 -0.4 4.1 5.4 8.0 9.43 8.7 4.2 9.4 8.9 10.5 13.3 8.0 -4.8 13.1 8.9 -2.4 0.4 3.7 4.6 8.9 9.04 6.3 -0.4 10.4 15.8 15.9 24.7 9.7 -8.7 -1.6 9.1 7.6 -2.0 4.9 6.9 6.3 10.15 -10.0 -8.6 23.9 8.6 5.3 28.6 4.9 -9.0 -7.3 -3.8 5.0 -14.0 4.4 -6.5 13.4 5.76 -0.4 2.7 5.7 6.4 6.7 8.8 3.3 5.8 3.0 11.2 11.4 4.3 2.7 7.0 5.5 7.47 4.2 -4.6 1.0 -9.4 0.3 3.2 9.2 1.6 3.4 0.0 5.2 -0.7 10.5 0.8 1.9 3.98 12.8 6.1 -0.2 67.2 21.0 -5.4 3.2 5.2 -2.9 4.9 15.5 -6.6 0.4 4.9 -30.0 18.49 -4.0 -151.6 181.8 1125.5 -4.5 3.1 -0.5 40.1 141.1 47.2 -21.5 -24.8 30.7 -3.8 -47.5 42.0

10=11+..+18 4.7 5.3 5.0 8.1 8.7 7.4 11.0 8.5 7.1 3.8 1.6 1.1 3.3 2.9 2.0 6.911 3.9 3.1 5.3 1.0 8.9 8.8 11.7 1.0 13.3 -1.5 4.1 1.4 1.8 4.1 1.0 6.512 4.4 3.6 3.8 6.1 5.5 8.7 12.1 8.2 5.5 3.8 1.9 2.3 5.6 3.1 3.4 5.013 -4.0 7.3 0.8 -3.5 3.8 2.1 5.1 23.7 6.9 10.2 9.2 -4.1 -19.0 -5.9 0.4 -1.614 -11.8 -1.5 72.3 -6.2 20.5 19.3 18.0 -6.6 7.9 -9.5 -3.3 -3.0 2.2 -23.4 14.2 1.915 4.1 4.1 5.0 3.1 6.2 3.6 7.9 10.5 5.6 2.4 5.5 5.2 3.1 4.1 9.5 5.6

15a 4.1 3.7 3.8 4.0 4.5 3.6 7.3 10.3 6.2 2.6 5.0 5.2 3.2 3.9 10.5 5.616 170.3 5.6 29.1 83.0 21.1 9.6 11.7 -2.4 1.1 8.8 11.0 2.3 -5.4 8.9 -6.4 0.517 -10.8 144.0 -63.2 189.2 3.9 -29.6 66.0 8.2 -24.9 25.4 -4.7 -2.7 22.6 -16.6 -8.4 38.418 5.4 3.0 15.1 24.0 25.0 25.6 12.8 14.4 16.4 9.3 -17.8 -13.2 17.9 4.2 -23.1 24.119 4.8 2.5 13.9 24.6 27.4 24.0 16.0 11.9 17.4 13.5 -15.7 -11.4 16.9 1.7 -24.9 22.9

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 1.6 -1.9 -1.4 2.8 3.7 4.6 1.0 -3.3 -2.6 -4.4 -0.5 -4.1 2.9 -0.1 7.9 0.6

24 0.4 11.8 1.6 17.7 14.2 22.1 8.2 1.2 -3.8 -14.0 18.3 -24.5 19.4 -21.8 27.9 -2.925 1.8 26.2 -15.3 12.8 28.7 10.6 -2.6 -5.9 26.0 0.0 13.3 102.9 -60.7 5.7 87.9 73.826 2.0 -14.7 13.2 1.6 -6.4 41.8 -12.2 -2.7 23.7 8.8 -1.2 -0.1 18.8 -1.1 5.8 2.127 -3.7 -3.8 -7.8 -1.6 0.4 -0.8 -0.9 -1.9 -7.5 -6.6 -5.9 -3.5 1.3 -0.5 -1.7 -0.628 13.9 -2.0 7.6 4.0 5.6 2.9 1.8 -12.2 11.4 6.8 1.3 5.4 -0.4 15.4 15.8 1.9

29=30+..+33 12.5 10.8 9.3 9.6 9.3 6.6 8.3 12.0 12.0 6.0 6.0 4.6 7.1 3.9 6.5 2.430 -54.7 44.1 -16.0 -87.5 -33.3 -100.0 984.9 -3.7 4.731 24.0 22.9 20.0 21.2 11.8 9.4 7.7 11.1 11.4 4.4 5.6 4.3 -12.5 4.2 9.1 2.632 0.5 -4.7 -9.0 -23.7 -0.7 -12.2 11.4 36.9 23.8 18.5 8.7 8.2 9.9 5.9 -1.3 -0.733 -1.8 -0.7 -1.9 3.5 6.2 7.4 9.4 -1.0 4.3 2.3 5.2 1.2 146.3 0.4 5.1 3.9


35=44(t)-44(t-1)-23 24.0 8.6 16.9 5.7 8.8 12.7 14.5 5.3 2.9 1.8 -0.7 -0.5 3.6 2.3 2.1 1.036=50(t)-50(t-1)-29 14.2 -2.1 -3.8 -0.3 -1.8 -2.3 4.8 1.4 1.1 2.9 3.4 -1.9 5.6 -0.3 0.8 -1.9

37=35-36 = 55(t)-55(t-1)-22 1.9 -15.2 -28.0 -9.0 -16.8 -26.3 -16.9 -7.8 -1.9 4.3 7.6 -3.1 7.1 -2.0 0.0 -3.9

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : 3.7 1.4 0.8 : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 25.6 6.7 15.4 8.5 12.5 17.3 15.5 1.9 0.2 -2.5 -1.2 -4.6 6.5 2.2 10.0 1.645 11.6 15.5 31.3 19.6 6.3 46.2 8.4 -6.7 -12.2 4.6 9.7 -25.0 36.4 -17.5 39.0 -2.846 -5.6 3.5 0.5 42.9 -20.0 7.6 -6.8 15.7 56.8 2.6 -15.8 104.0 -60.7 8.5 102.4 74.647 4.0 -15.8 1.3 -1.9 -8.6 5.6 -1.4 13.8 17.5 24.1 -9.7 2.7 23.3 -3.9 15.8 -1.248 21.4 9.5 15.2 14.1 17.1 15.1 23.1 4.1 -1.7 -6.5 -5.7 -3.5 1.7 0.3 -1.4 0.4

48a49 48.9 2.5 11.5 -7.3 9.6 6.2 2.9 0.7 13.9 1.0 5.8 2.8 3.9 20.7 15.9 4.1

50=51+..+54 26.6 8.7 5.5 9.3 7.5 4.2 13.1 13.4 13.1 8.9 9.4 2.6 12.7 3.6 7.3 0.451 -46.9 47.1 -20.0 -85.0 -33.3 -100.0 984.7 -3.7 4.752 29.3 20.4 16.1 23.2 11.1 6.1 12.5 11.4 12.4 7.5 11.4 1.8 -7.0 3.3 9.2 0.053 3.9 2.8 -16.2 -24.2 -7.4 -12.9 12.0 36.9 24.0 25.2 4.5 8.7 16.0 6.7 1.0 -1.754 65.7 -14.5 0.3 -6.9 3.1 9.7 17.4 7.8 7.4 0.3 2.7 0.7 152.0 0.9 6.8 3.1

55=44-50 27.9 11.2 -6.1 10.3 0.5 -16.5 7.7 41.0 35.5 23.6 20.1 8.7 17.2 4.6 5.5 -0.456=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 16.3 16.4 6.6 9.4 9.2 4.4 13.5 13.9 13.2 10.4 3.3 5.4 -6.0 6.4 9.3 -0.359 = 57+58 = 60+..+63 2.8 1.2 -5.3 0.1 0.9 0.0 4.7 -2.8 -2.4 0.6 -3.9 -2.4 -12.9 0.8 4.8 -3.1

60=23 1.1 -1.3 -0.9 2.0 2.6 3.2 0.8 -2.7 -1.9 -2.8 -0.3 -2.2 1.4 -0.1 4.3 0.3

61=(-)33 0.3 0.2 0.3 -0.6 -0.9 -1.0 -1.4 0.2 -0.6 -0.3 -0.7 -0.2 -17.4 -0.1 -1.5 -1.1

62 2.5 2.8 -4.3 -1.7 -1.2 -2.4 5.3 -0.1 0.0 3.9 -2.9 0.1 3.1 1.1 2.0 -2.4

63 -1.0 -0.5 -0.4 0.4 0.4 0.2 0.0 -0.2 0.0 -0.2 -0.1 -0.1 0.0 0.0 0.1 0.064=65+66+69 16.3 16.4 6.6 9.4 9.2 4.4 13.5 13.9 13.2 10.4 3.3 5.4 -6.0 6.4 9.3 -0.3

65 -48.4 51.5 -18.0 -85.4 -33.3 -100.0 984.9 -3.7 4.766=67+68 23.8 23.4 16.4 19.8 12.5 7.1 13.7 11.0 11.5 7.8 3.0 4.7 -10.8 5.7 11.8 0.0

67 18.1 15.5 0.0 -50.3 3.1 -10.9 140.7 -14.8 -39.5 -53.0 -56.6 -100.0 79400.0 83.8 -14.2 -40.968 25.1 25.0 19.6 31.2 13.1 8.1 7.8 13.7 15.4 10.3 4.0 5.5 -11.0 5.5 11.9 0.1

69=70+71 4.0 2.7 -16.2 -24.2 -7.9 -12.6 12.3 36.7 24.0 25.1 4.6 8.9 15.8 7.0 0.8 -1.870 56.4 77.3 15.0 -15.4 -45.3 -88.2 50.5 481.8 -82.6 10.6 22.0 -8.8 59.4 84.8 -51.5 62.371 2.5 -0.7 -18.8 -25.2 -3.0 -7.1 12.0 31.1 29.9 25.2 4.5 9.0 15.6 6.3 1.6 -2.272 : : : : : : : :73 : : : : : : : :

74=45+46+48a 10.4 14.8 29.6 20.5 5.1 44.8 7.9 -6.1 -10.2 4.5 8.4 -20.0 26.7 -16.7 41.6 1.6


77=20+18-7678 3.9 4.4 10.3 6.2 8.0 11.0 8.3 6.7 5.3 8.4 4.0 1.7 3.8 4.6 3.4 6.9

79 : : : : : : : : : 2.5 2.3 1.0 1.1 2.8 -1.0 :



Portugal





10=11+..+18 Total expenditure 37,951 54,783 74,054 81,093 88,116 93,237 88,112 81,71911 Intermediate consumption 3,790 5,978 8,070 9,920 10,834 10,627 10,645 9,68512 Compensation of employees 11,093 17,643 23,044 23,491 24,608 24,611 22,614 19,68813 Interest 4,929 3,864 4,046 5,556 5,218 5,268 7,604 8,21414 Subsidies 892 1,525 1,438 1,154 1,258 1,295 1,168 1,01815 Social benefits 10,865 16,590 25,780 29,946 32,917 33,452 33,325 33,010

15a of which other than transfers in kind 9,503 14,307 22,251 26,103 28,765 29,573 29,936 29,65416 Other current expenditure 1,754 2,642 3,785 4,211 4,722 5,034 5,043 4,59217 Capital transfers payable 673 859 1,461 1,739 1,108 3,336 1,595 1,67118 Capital investments 3,956 5,683 6,431 5,075 7,451 9,614 6,118 3,83919 of which, gross fixed capital formation 3,925 5,917 6,468 6,651 7,205 9,479 6,139 4,158

Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0 0 0 0 -1 0 0

22=23-29 Net financial transactions : -4,130 -9,827 -6,736 -17,204 -20,099 -13,006 -9,52923=24+..+28 Net acquisition of financial assets : -406 859 979 2,091 5,658 14,238 1,696

24 Currency and deposits : -604 1,009 50 -491 483 10,129 1,53925 Debt securities : 276 408 -590 552 30 283 6,14126 Loans : 178 295 50 33 1,256 841 1,19127 Shares and other equity : -291 -569 2,153 1,135 2,106 -437 -3,83628 Other financial assets : 35 -284 -684 861 1,782 3,422 -3,338

29=30+..+33 Net incurrence of liabilities : 3,725 10,686 7,714 19,295 25,757 27,244 11,22630 Currency and deposits : 1,158 538 -1,094 -368 -527 -2,979 -1,35631 Debt securities : 1,304 12,602 10,803 17,256 19,167 -11,092 -7,92832 Loans : 909 -277 -678 2,489 3,639 35,812 24,64733 Other liabilities : 354 -2,177 -1,317 -82 3,478 5,503 -4,137


35=44(t)-44(t-1)-23 Other changes in financial assets : 82 2,679 -50 1,741 8,575 -247 6,28536=50(t)-50(t-1)-29 Other changes in liabilities : 1,226 -601 3,307 1,311 -7,110 -23,636 31,919

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -1,144 3,280 -3,357 430 15,685 23,389 -25,634

38=34+37 = 56(t)-56(t-1)-77+21





48a of which, Investment fund shares : 37 10 1,076 1,312 2,920 2,799 2,04449 Other financial assets : 4,738 7,318 8,222 9,198 11,567 15,518 12,312




58=64(t)-64(t-1) Change in Government Debt 5,419 3,566 12,465 8,103 18,500 26,371 23,169 16,32559 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 808 -564 2,639 1,367 1,296 6,271 10,163 6,796

60=23 Net acquisition of financial assets 3,558 -406 859 979 2,091 5,658 14,238 1,696

61=(-)33 Incurrence in liabilities not in government debt -1,865 -354 2,177 1,317 82 -3,478 -6,553 3,696

62 Valuation effects and other changes in volume in government debt -41 110 -227 -263 171 4,413 1,255 1,148

63 Statistical discrepancies -843 85 -171 -665 -1,048 -321 1,223 25564=65+66+69 Government debt (nominal / face value) : 64,640 106,919 128,191 146,691 173,062 196,231 212,556


67 .. short term : 590 13,385 17,366 20,643 21,715 12,037 13,02568 .. long term : 48,432 66,619 81,926 94,562 113,326 111,895 103,866

69=70+71 . Loans : 6,280 15,738 16,535 19,607 26,319 62,157 86,27770 .. short term : 1,205 2,520 2,388 1,985 4,354 5,129 3,80171 .. long term : 5,075 13,218 14,147 17,622 21,965 57,027 82,47672 Intergovernmental lending (asset)* : : : : 0 548 1,212 1,11973 Intergovernmental lending (borrowing)* : : : : 3 1 8,115 19,464







Portugal




2=3+4+5 42,733 43,564 45,598 46,397 48,761 42,962 4,750 1,0493 23,320 24,561 26,069 27,337 29,042 24,668 3,331 1,0434 19,411 19,003 19,529 19,060 19,719 18,294 1,419 65 2 0 0 0 0 0 0 06 20,449 20,457 20,783 21,626 22,685 6,172 630 15,8837 6,474 6,315 6,381 6,534 6,696 4,707 1,971 178 5,186 5,115 4,589 4,282 4,170 -12,409 4,300 3,374 8,9059 1,946 1,744 1,400 1,051 798 -723 357 1,143 21

10=11+..+18 85,032 89,598 86,669 83,564 88,872 -13,132 66,991 11,382 23,63011 9,611 9,847 9,994 10,317 10,565 7,376 3,124 6612 21,317 20,515 20,349 20,897 21,299 17,318 3,726 25513 8,258 8,483 8,210 7,800 7,437 -480 7,727 190 014 1,031 1,230 1,124 1,025 857 705 113 3915 34,785 34,088 34,711 35,152 35,647 14,216 961 20,470

15a 31,520 30,810 31,338 31,754 32,159 11,166 631 20,36316 4,636 4,718 4,616 4,753 4,481 -11,929 12,660 982 2,76817 1,546 7,189 3,436 697 4,967 -723 5,358 321 1118 3,848 3,527 4,230 2,923 3,618 1,632 1,964 2219 3,701 3,446 4,045 2,887 3,563 1,648 1,896 20

Government deficit

20=1-10 -8,245 -12,402 -7,918 -3,674 -5,762 -8,493 486 2,244


21=20-22 0 0 0 0 0 0 0 0

22=23-29 -8,245 -12,402 -7,918 -3,674 -5,762 -8,493 486 2,24423=24+..+28 -2,196 -6,522 -4,006 5,250 -2,950 -2,217 -3,227 248 2,246

24 1,210 -5 -3,117 4,500 -2,602 -2,152 -2,424 263 1,71125 -280 -4,710 -976 5 -571 -104 -1,067 0 60126 -91 -145 90 -138 -50 39 -90 0 027 -1,082 -2,110 -170 -113 248 0 -6 -19 27428 -1,953 447 169 997 25 0 359 4 -339

29=30+..+33 6,049 5,880 3,912 8,924 2,813 -2,217 5,266 -238 230 1,223 4,918 3,970 3,964 2,668 -2,152 4,820 0 031 -2,783 -1,860 11,152 11,288 10,331 -104 9,983 453 032 8,995 3,613 -9,447 -6,000 -10,496 39 -9,869 -667 033 -1,386 -791 -1,763 -328 310 0 332 -24 2


35=44(t)-44(t-1)-23 -5,684 8,293 1,757 1,177 -996 -586 -1,187 87 69136=50(t)-50(t-1)-29 3,355 15,888 1,761 -6,281 9,717 -586 10,101 204 -2

37=35-36 = 55(t)-55(t-1)-22 -9,039 -7,595 -4 7,458 -10,713 -11,289 -117 693

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 139,089 138,165 140,715 140,428 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 73,601 75,372 73,123 79,551 75,605 -15,976 65,536 3,231 22,81445 21,346 21,270 18,207 22,520 19,879 -4,431 14,784 2,727 6,80046 8,891 4,426 3,356 3,387 2,723 -10,152 1,033 1 11,84047 5,239 5,131 5,189 5,285 5,216 -2,447 7,584 79 048 28,133 32,895 33,025 33,850 34,651 1,054 31,340 318 1,939

48a 2,568 2,266 2,765 2,802 3,057 : : :49 9,993 11,650 13,347 14,508 13,136 0 10,795 105 2,235

50=51+..+54 243,449 265,217 270,890 273,533 286,063 -15,976 287,696 13,727 61651 14,749 19,350 23,320 27,284 29,951 -4,431 34,382 0 052 112,037 123,596 135,189 140,093 160,491 -10,152 168,672 1,971 053 95,697 101,314 93,651 87,839 76,426 -2,447 70,378 8,494 154 20,966 20,957 18,730 18,318 19,195 1,054 14,264 3,262 615

55=44-50 -169,848 -189,845 -197,767 -193,983 -210,458 -222,160 -10,496 22,19856=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -8,245 -12,402 -7,918 -3,674 -5,762 -8,493 486 2,244

58=64(t)-64(t-1) 7,159 6,326 5,472 9,450 1,842 -2,213 4,269 -214 059 = 57+58 = 60+..+63 -1,086 -6,077 -2,446 5,776 -3,921 -2,213 -4,224 272 2,244

60=23 -2,196 -6,522 -4,005 5,250 -2,950 -2,217 -3,227 248 2,246

61=(-)33 1,094 598 1,994 274 -290 0 -194 -96 0

62 -386 -52 -159 98 -698 -5 -681 -12 0

63 401 -101 -276 154 18 9 -121 132 -264=65+66+69 219,715 226,041 231,513 240,963 242,804 -15,528 247,984 10,348 1

65 10,490 14,922 18,647 22,536 25,188 -4,430 29,618 0 066=67+68 114,284 111,476 121,723 132,856 142,260 -8,650 148,948 1,962 0

67 7,412 12,681 10,538 14,957 15,400 0 15,400 0 068 106,872 98,795 111,185 117,899 126,860 -8,650 133,548 1,962 0

69=70+71 94,940 99,642 91,143 85,570 75,356 -2,447 69,418 8,385 170 2,514 2,591 3,377 2,808 1,458 0 1,164 294 071 92,427 97,051 87,766 82,762 73,899 -2,447 68,254 8,091 172 1,119 1,119 1,119 1,119 1,119 : : :73 26,064 27,314 27,314 27,314 27,314 : : :

74=45+46+48a 32,805 27,962 24,327 28,709 25,659 : : :

Table C - Memorandum items75 32,501 32,206 32,584 33,297 34,037 25,908 7,676 45276 5,092 5,088 5,239 5,253 5,340 3,110 2,189 41

77=20+18-76 -9,489 -13,962 -8,927 -6,004 -7,484 -9,970 261 2,22578 170,269 173,079 179,809 186,480 194,613

79 695 684 679 684 691

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Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -3.2 -6.2 -3.8 -9.8 -11.2 -7.4 -5.7 -4.8 -7.2 -4.4 -2.0 -3.0 -4.4 0.2 1.223=24+..+28 Net acquisition of financial assets : -0.3 0.5 0.5 1.2 3.1 8.1 1.0 -1.3 -3.8 -2.2 2.8 -1.5 -1.1 -1.7 0.1 1.2

24 Currency and deposits : -0.5 0.6 0.0 -0.3 0.3 5.7 0.9 0.7 0.0 -1.7 2.4 -1.3 -1.1 -1.2 0.1 0.925 Debt securities : 0.2 0.3 -0.3 0.3 0.0 0.2 3.6 -0.2 -2.7 -0.5 0.0 -0.3 -0.1 -0.5 0.0 0.326 Loans : 0.1 0.2 0.0 0.0 0.7 0.5 0.7 -0.1 -0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.027 Shares and other equity : -0.2 -0.4 1.2 0.6 1.2 -0.2 -2.3 -0.6 -1.2 -0.1 -0.1 0.1 0.0 0.0 0.0 0.128 Other financial assets : 0.0 -0.2 -0.4 0.5 1.0 1.9 -2.0 -1.1 0.3 0.1 0.5 0.0 0.0 0.2 0.0 -0.2

29=30+..+33 Net incurrence of liabilities : 2.9 6.7 4.3 11.0 14.3 15.5 6.7 3.6 3.4 2.2 4.8 1.4 -1.1 2.7 -0.1 0.030 Currency and deposits : 0.9 0.3 -0.6 -0.2 -0.3 -1.7 -0.8 0.7 2.8 2.2 2.1 1.4 -1.1 2.5 0.0 0.031 Debt securities : 1.0 7.9 6.0 9.8 10.7 -6.3 -4.7 -1.6 -1.1 6.2 6.1 5.3 -0.1 5.1 0.2 0.032 Loans : 0.7 -0.2 -0.4 1.4 2.0 20.3 14.6 5.3 2.1 -5.3 -3.2 -5.4 0.0 -5.1 -0.3 0.033 Other liabilities : 0.3 -1.4 -0.7 0.0 1.9 3.1 -2.5 -0.8 -0.5 -1.0 -0.2 0.2 0.0 0.2 0.0 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.1 1.7 0.0 1.0 4.8 -0.1 3.7 -3.3 4.8 1.0 0.6 -0.5 -0.3 -0.6 0.0 0.436=50(t)-50(t-1)-29 Other changes in liabilities : 1.0 -0.4 1.8 0.7 -4.0 -13.4 19.0 2.0 9.2 1.0 -3.4 5.0 -0.3 5.2 0.1 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -0.9 2.1 -1.9 0.2 8.7 13.3 -15.2 -5.3 -4.4 0.0 4.0 -5.5 -5.8 -0.1 0.4

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets : 61.7 70.2 72.6 74.7 76.5 81.0 84.7 81.7 79.8 78.3 75.3 : : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : : : : : : : :



50=51+..+54 Liabilities : 62.0 80.0 82.8 96.1 104.1 108.4 139.0 143.0 153.2 150.7 146.7 147.0 -8.2 147.8 7.1 0.351 Currency and deposits : 11.0 10.7 10.6 10.6 10.0 8.5 8.1 8.7 11.2 13.0 14.6 15.4 -2.3 17.7 0.0 0.052 Debt securities : 40.4 53.9 57.7 68.4 70.8 52.3 66.2 65.8 71.4 75.2 75.1 82.5 -5.2 86.7 1.0 0.053 Loans : 4.9 10.0 9.3 11.3 14.7 35.6 51.8 56.2 58.5 52.1 47.1 39.3 -1.3 36.2 4.4 0.054 Other liabilities : 5.8 5.4 5.1 5.8 8.5 11.9 12.8 12.3 12.1 10.4 9.8 9.9 0.5 7.3 1.7 0.3

55=44-50 Financial net worth : -37.8 -55.9 -59.6 -70.3 -71.0 -66.6 -90.6 -99.8 -109.7 -110.0 -104.0 -108.1 -114.2 -5.4 11.456=39-50=40+55 Net worth : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt 6.1 2.8 7.9 4.5 10.5 14.7 13.2 9.7 4.2 3.7 3.0 5.1 0.9 -1.1 2.2 -0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 0.9 -0.4 1.7 0.8 0.7 3.5 5.8 4.0 -0.6 -3.5 -1.4 3.1 -2.0 -1.1 -2.2 0.1 1.2

60=23 Net acquisition of financial assets 4.0 -0.3 0.5 0.5 1.2 3.1 8.1 1.0 -1.3 -3.8 -2.2 2.8 -1.5 -1.1 -1.7 0.1 1.2

61=(-)33 Incurrence in liabilities not in government debt -2.1 -0.3 1.4 0.7 0.0 -1.9 -3.7 2.2 0.6 0.3 1.1 0.1 -0.1 0.0 -0.1 0.0 0.0

62Valuation effects and other changes in volume in government debt 0.0 0.1 -0.1 -0.1 0.1 2.5 0.7 0.7 -0.2 0.0 -0.1 0.1 -0.4 0.0 -0.4 0.0 0.0

63 Statistical discrepancies -0.9 0.1 -0.1 -0.4 -0.6 -0.2 0.7 0.2 0.2 -0.1 -0.2 0.1 0.0 0.0 -0.1 0.1 0.064=65+66+69 Government debt (nominal / face value) : 50.3 67.4 71.7 83.6 96.2 111.4 126.2 129.0 130.6 128.8 129.2 124.8 -8.0 127.4 5.3 0.0






77=20+18-76 Net savings and capital transfers -3.0 -1.0 -4.6 -3.5 -8.2 -8.6 -6.8 -6.5 -5.6 -8.1 -5.0 -3.2 -3.8 -5.1 0.1 1.178 GDP



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n


Portugal



Government revenue and expenditure1=2+6+7+8+9 7.8 3.8 1.6 5.7 5.9 7.0 2.2 -4.6 3.1 2.7 -3.9 6.4 0.5 2.0 1.4 4.0

2=3+4+5 6.9 1.9 0.4 6.9 7.7 7.5 0.6 -10.3 4.7 5.2 -5.8 10.3 1.9 4.7 1.8 5.13 9.0 6.2 -0.7 9.5 6.9 2.7 -1.2 -11.1 7.2 2.7 -4.4 -0.1 5.3 6.1 4.9 6.24 3.7 -4.9 3.0 2.1 9.4 16.1 3.5 -9.0 0.5 9.8 -9.4 28.2 -2.1 2.8 -2.4 3.55 15.5 -0.1 -74.4 156.1 -66.5 -58.2 -14.3 -96.7 30992.7 -100.0 -99.3 -100 -100.0 -100.06 7.8 7.1 3.2 6.5 4.3 3.5 4.2 2.4 0.8 -0.8 -9.7 6.8 0.0 1.6 4.1 4.97 4.0 2.9 3.5 5.6 -0.7 14.4 9.3 3.3 0.8 -3.1 1.8 -0.3 -2.5 1.0 2.4 2.58 22.3 5.3 26.9 -14.6 31.3 12.0 0.5 1.5 -11.7 14.1 14.1 1.7 -1.4 -10.3 -6.7 -2.69 15.5 8.8 -25.7 16.8 -31.0 0.6 -4.3 5.0 54.7 -11.7 39.9 -28.3 -10.4 -19.7 -25.0 -24.0

10=11+..+18 4.1 6.2 6.0 5.5 1.6 3.8 3.9 8.7 5.8 -5.5 -7.3 4.1 5.4 -3.3 -3.6 6.411 3.9 5.5 7.8 9.0 4.5 12.6 4.5 9.2 -1.9 0.2 -9.0 -0.8 2.5 1.5 3.2 2.412 7.2 3.6 4.0 6.0 -0.6 0.4 2.1 4.8 0.0 -8.1 -12.9 8.3 -3.8 -0.8 2.7 1.913 -0.4 -4.0 0.2 3.9 13.7 12.5 7.4 -6.1 1.0 44.3 8.0 0.5 2.7 -3.2 -5.0 -4.714 -5.8 11.8 -21.9 5.7 -0.2 -6.9 -13.7 9.0 2.9 -9.8 -12.8 1.3 19.2 -8.6 -8.8 -16.315 9.1 12.3 8.0 7.8 4.9 4.8 5.7 9.9 1.6 -0.4 -0.9 5.4 -2.0 1.8 1.3 1.4

15a 9.4 12.6 7.7 7.9 5.5 5.4 5.5 10.2 2.8 1.2 -0.9 6.3 -2.3 1.7 1.3 1.316 15.6 -4.2 12.6 6.3 9.3 3.5 -1.6 12.1 6.6 0.2 -8.9 0.9 1.8 -2.2 3.0 -5.717 -16.8 -3.4 31.6 3.2 -38.1 -6.3 105.1 -36.3 201.1 -52.2 4.8 -7.5 365.1 -52.2 -79.7 612.918 -13.3 8.8 6.8 -6.7 -10.8 -2.7 -9.1 46.8 29.0 -36.4 -37.2 0.2 -8.3 19.9 -30.9 23.819 -3.9 -2.7 5.7 -4.2 -13.7 1.2 17.8 8.3 31.5 -35.2 -32.3 -11.0 -6.9 17.4 -28.6 23.4

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 10.8 -1.2 5.2 2.5 1.3 -2.6 2.4 5.0 12.5 23.9 2.3 -2.7 -8.9 -5.3 7.2 -3.7

24 25.2 -16.4 -3.3 15.5 17.1 -8.9 0.6 -6.1 6.4 122.9 8.3 6.0 0.0 -14.7 24.7 -11.625 9.9 3.9 -15.0 16.8 7.2 3.8 -19.9 23.0 1.1 10.7 204.3 -3.0 -53.0 -22.1 0.2 -16.826 11.6 12.5 3.4 7.6 1.4 -41.3 1.7 1.1 41.9 19.5 22.1 -1.4 -2.8 1.7 -2.7 -0.927 2.0 1.9 3.7 -4.0 -9.3 6.5 11.9 5.7 9.2 -1.3 -12.4 -3.3 -7.5 -0.5 -0.3 0.728 16.1 2.0 24.9 -3.7 6.3 5.1 -8.0 10.5 19.4 29.6 -21.5 -15.9 4.5 1.4 7.5 0.2

29=30+..+33 9.5 6.4 10.9 9.1 6.1 3.2 5.6 13.0 15.3 14.5 5.9 2.6 2.4 1.5 3.3 1.030 7.0 2.9 -0.8 3.2 12.0 4.9 -5.5 -1.9 -2.8 -16.5 -9.0 8.9 33.3 20.5 17.0 9.831 9.5 5.2 8.0 17.2 6.2 4.2 12.0 16.7 16.0 -8.7 -8.6 -2.5 -1.7 9.0 8.4 7.432 20.5 13.1 27.8 -1.7 0.4 7.9 -3.9 14.9 18.4 135.1 39.3 10.3 3.8 -9.3 -6.4 -11.933 0.9 20.1 36.7 -20.3 3.0 -18.5 -13.8 -0.9 34.0 35.9 -19.7 -6.4 -3.8 -8.4 -1.8 1.7


35=44(t)-44(t-1)-23 -10.4 8.2 -4.1 7.7 6.4 1.2 -0.1 4.2 18.9 -0.4 8.6 -7.0 11.3 2.3 1.6 -1.336=50(t)-50(t-1)-29 1.0 1.9 2.3 -0.5 -2.0 0.6 2.4 0.9 -4.2 -12.6 16.7 1.4 6.5 0.7 -2.3 3.6

37=35-36 = 55(t)-55(t-1)-22 7.7 -1.2 5.4 -4.0 -5.6 0.3 3.5 -0.4 -12.7 -18.3 21.8 5.9 4.5 0.0 -3.8 5.5

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 8.3 6.1 6.9 5.9 5.7 4.0 6.2 0.8 5.2 3.7 -0.1 -2.5 -0.7 1.8 -0.2 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 0.5 6.9 1.1 10.2 7.7 -1.4 2.3 9.2 31.4 23.5 10.9 -9.7 2.4 -3.0 8.8 -5.045 25.2 -16.8 -2.9 15.5 16.7 -9.1 1.0 -6.0 8.7 125.8 8.3 6.0 -0.4 -14.4 23.7 -11.746 17.7 2.0 19.2 5.2 11.6 4.4 -19.1 12.2 -1.3 13.1 212.3 -5.3 -50.2 -24.2 0.9 -19.647 -3.4 -1.1 -1.5 17.5 -0.7 -36.6 3.6 0.0 43.9 24.9 22.0 -20.2 -2.1 1.1 1.9 -1.348 -17.2 29.4 -5.8 14.8 5.3 6.8 8.8 15.4 43.5 -5.3 6.7 -14.9 16.9 0.4 2.5 2.4

48a -57.7 -38.4 5.6 -70.2 4472.3 -12.1 159.6 21.9 122.6 -4.1 -27.0 25.7 -11.8 22.0 1.3 9.149 13.7 3.1 17.0 -4.7 7.8 7.9 -3.5 11.9 25.8 34.2 -20.7 -18.8 16.6 14.6 8.7 -9.5

50=51+..+54 10.6 8.3 13.2 8.6 4.0 3.8 8.0 13.9 11.1 1.9 22.6 4.0 8.9 2.1 1.0 4.651 7.0 2.9 -0.8 2.6 12.0 4.9 -5.5 -1.9 -2.8 -16.5 -9.0 7.8 31.2 20.5 17.0 9.852 12.5 4.1 9.3 16.3 2.9 2.2 14.8 16.3 6.2 -27.7 21.0 0.5 10.3 9.4 3.6 14.653 24.4 21.3 30.3 -1.3 1.6 9.3 -4.6 18.6 33.7 136.6 39.2 9.6 5.9 -7.6 -6.2 -13.054 -20.5 60.1 53.6 -19.7 4.1 6.9 -3.8 11.2 49.8 37.1 2.5 -2.7 0.0 -10.6 -2.2 4.8

55=44-50 16.5 9.0 19.1 8.0 2.5 6.1 10.5 15.7 3.6 -8.1 30.0 11.3 11.8 4.2 -1.9 8.556=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 10.4 7.0 10.2 13.2 7.6 4.4 6.7 14.4 18.0 13.4 8.3 3.4 2.9 2.4 4.1 0.859 = 57+58 = 60+..+63 3.9 -1.1 -0.8 2.8 0.8 -0.2 1.1 1.0 4.3 5.9 3.5 -0.5 -2.8 -1.1 2.5 -1.6

60=23 4.8 -0.5 2.1 0.9 0.5 -0.9 0.8 1.6 3.9 8.2 0.9 -1.0 -3.0 -1.8 2.3 -1.2

61=(-)33 -0.1 -1.1 -3.0 2.3 -0.2 1.4 1.1 0.1 -2.4 -3.8 1.9 0.5 0.3 0.9 0.1 -0.1

62 0.1 0.9 0.2 -0.2 0.2 0.1 -0.2 0.1 3.0 0.7 0.6 -0.2 0.0 -0.1 0.0 -0.3

63 -0.9 -0.4 -0.2 -0.2 0.4 -0.8 -0.6 -0.8 -0.2 0.7 0.1 0.2 0.0 -0.1 0.1 0.064=65+66+69 10.4 7.0 10.2 13.2 7.6 4.4 6.7 14.4 18.0 13.4 8.3 3.4 2.9 2.4 4.1 0.8

65 8.0 2.6 -2.4 2.4 16.0 4.5 -8.7 -3.9 -1.5 -13.3 -7.4 11.7 42.2 25.0 20.9 11.866=67+68 8.8 5.3 8.5 18.4 7.6 3.5 11.4 16.0 17.2 -8.2 -5.7 -2.2 -2.5 9.2 9.1 7.1

67 -81.3 850.2 155.6 27.8 -23.0 2.0 65.3 18.9 5.2 -44.6 8.2 -43.1 71.1 -16.9 41.9 3.068 12.8 -0.9 -1.8 16.7 13.7 3.8 4.2 15.4 19.8 -1.3 -7.2 2.9 -7.6 12.5 6.0 7.6

69=70+71 24.4 21.3 30.2 -1.4 1.4 9.1 -5.0 18.6 34.2 136.2 38.8 10.0 5.0 -8.5 -6.1 -11.970 -11.7 27.5 69.1 -18.5 14.5 17.8 -29.7 -16.9 119.3 17.8 -25.9 -33.9 3.1 30.3 -16.9 -48.171 33.4 20.3 23.3 2.7 -1.1 7.2 1.0 24.6 24.6 159.6 44.6 12.1 5.0 -9.6 -5.7 -10.772 : : : : : : : : 121.4 -7.7 0.0 0.0 0.0 0.0 0.073 : : : : : : : : -66.7 139.9 34 4.8 0.0 0.0 0.0

74=45+46+48a 22.4 -13.2 2.2 12.4 20.0 -6.1 1.6 0.4 19.2 76.6 29.4 3.9 -14.8 -13.0 18.0 -10.6

Table C - Memorandum items75 6.6 5.1 6.0 6.9 1.7 2.0 2.7 5.6 -0.9 -6.1 -10.9 4.2 -0.9 1.2 2.2 2.276 6.5 5.4 7.9 6.0 6.0 5.0 5.6 0.8 5.9 3.4 0.5 -1.8 -0.1 3.0 0.3 1.7

77=20+18-7678 5.0 2.5 4.3 4.1 4.8 5.5 1.9 -1.9 2.6 -2.1 -4.4 1.1 1.7 3.9 3.7 4.4

79 2.9 -1.9 1.1 0.4 -1.5 -0.5 -0.1 1.0 0.1 -3.0 -1.1 -2.1 -1.6 -0.7 0.7 1.0



Romania




2=3+4+5 Taxes 1,518 15,490 52,625 95,273 85,820 93,312 107,077 112,4373 . Indirect taxes 709 9,643 37,248 60,699 54,287 62,692 73,063 77,9574 . Direct taxes 810 5,847 15,377 34,574 31,533 30,619 34,014 34,4805 . Capital taxes 0 0 0 0 0 0 0 06 Social contributions 598 9,254 29,650 51,988 51,261 49,552 50,808 51,9537 Sales (incl . own account capital formation) 75 1,222 5,030 15,141 13,973 13,936 15,758 13,1818 Other current revenue 244 1,389 5,528 7,942 7,431 11,222 8,652 12,0999 Capital revenue 22 91 948 3,990 2,403 6,661 8,417 10,182

10=11+..+18 Total expenditure 2,611 31,162 96,100 203,236 208,993 211,245 221,102 221,66211 Intermediate consumption 464 7,643 18,630 33,868 32,107 28,866 32,375 35,63712 Compensation of employees 507 6,381 25,264 54,131 54,825 50,645 44,114 46,36013 Interest 120 3,193 3,567 3,555 7,603 7,978 9,044 10,41514 Subsidies 309 1,844 4,953 5,727 5,583 5,366 4,807 3,88615 Social benefits 733 8,078 28,663 57,881 67,177 73,346 74,264 72,274

15a of which other than transfers in kind 701 7,869 26,101 53,349 63,823 67,649 66,795 66,54816 Other current expenditure 125 417 2,635 7,504 9,297 10,143 12,066 15,13717 Capital transfers payable 32 426 4,131 5,317 1,714 4,462 13,749 8,80018 Capital investments 320 3,180 8,255 35,254 30,687 30,439 30,684 29,15519 of which, gross fixed capital formation 316 2,791 8,200 34,955 30,569 30,211 30,670 28,580

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -152 -3,716 -2,319 -28,902 -48,105 -36,563 -30,391 -21,811


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -170 895 817 -1,866 -168 353 255

22=23-29 Net financial transactions : -3,546 -3,214 -29,718 -46,239 -36,395 -30,744 -22,06623=24+..+28 Net acquisition of financial assets : 414 1,711 -7,124 5,839 -602 10,334 10,841

24 Currency and deposits : 154 1,049 -6,078 8,588 -2,328 5,752 10,72925 Debt securities : 0 0 0 0 0 0 026 Loans : 282 -65 -32 133 513 258 11527 Shares and other equity : -482 -1,010 -298 -2,189 -584 497 -1,75228 Other financial assets : 461 1,737 -717 -693 1,797 3,827 1,749

29=30+..+33 Net incurrence of liabilities : 3,960 4,925 22,594 52,078 35,793 41,078 32,90730 Currency and deposits : 472 1,598 -1,634 -708 2,319 1,720 -1,41031 Debt securities : 664 -3,249 8,634 31,885 21,427 23,849 30,59132 Loans : 2,980 2,197 2,899 16,612 16,133 7,100 -2,45433 Other liabilities : -156 4,378 12,696 4,289 -4,087 8,409 6,180


35=44(t)-44(t-1)-23 Other changes in financial assets : 21,558 -639 62,732 6,733 -31,853 -15,658 6,64536=50(t)-50(t-1)-29 Other changes in liabilities : 2,186 -531 6,157 7,146 1,355 -701 6,249

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 19,372 -108 56,574 -414 -33,208 -14,957 396

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 60,626 103,128 178,975 191,547 159,092 153,768 171,25445 Currency and deposits : 1,039 8,824 12,076 21,151 19,850 19,658 31,95646 Debt securities : 0 0 0 0 0 0 18747 Loans : 3,477 5,516 5,419 6,271 6,345 6,633 6,66648 Shares and other equity : 32,602 56,732 120,404 125,161 90,891 81,654 82,983


50=51+..+54 Liabilities : 22,755 58,126 101,791 161,015 198,162 238,540 277,69651 Currency and deposits : 472 2,940 3,066 2,358 4,677 6,398 4,98752 Debt securities : 7,344 14,341 27,665 62,882 84,731 110,589 143,51753 Loans : 10,461 28,677 35,632 54,211 71,222 79,349 80,37454 Other liabilities : 4,478 12,169 35,427 41,563 37,532 42,205 48,818

55=44-50 Financial net worth : 37,872 45,002 77,185 30,532 -39,071 -84,772 -106,44156=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -152 -3,716 -2,319 -28,902 -48,105 -36,563 -30,391 -21,811

58=64(t)-64(t-1) Change in Government Debt 341 6,211 -731 15,860 49,411 41,185 33,625 28,72659 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 188 2,495 -3,050 -13,041 1,306 4,622 3,234 6,915

60=23 Net acquisition of financial assets 9 414 1,711 -7,124 5,839 -602 10,334 10,841

61=(-)33 Incurrence in liabilities not in government debt 90 156 -4,378 -12,696 -4,289 4,087 -8,409 -6,180

62 Valuation effects and other changes in volume in government debt : 2,133 -1,247 5,688 1,598 -79 710 1,999

63 Statistical discrepancies -14 -208 865 1,090 -1,842 1,217 599 25564=65+66+69 Government debt (nominal / face value) : 18,186 45,626 66,815 116,225 157,410 191,035 219,762

65 . Currency and deposits : 472 2,931 3,066 2,358 4,677 6,398 4,98766=67+68 . Debt securities : 7,375 14,177 28,410 60,205 82,287 106,512 135,671

67 .. short term : 5,045 0 7,723 24,291 34,097 35,336 28,42668 .. long term : 2,331 14,177 20,687 35,914 48,190 71,176 107,245

69=70+71 . Loans : 10,338 28,519 35,339 53,663 70,447 78,126 79,10370 .. short term : 0 94 1,988 306 357 2,551 38071 .. long term : 10,338 28,425 33,352 53,357 70,089 75,575 78,72372 Intergovernmental lending (asset)* : : : : 0 0 0 073 Intergovernmental lending (borrowing)* : : : : 11 12 15 15


Table C - Memorandum items75 Government final consumption expenditure 932 13,634 46,586 85,732 85,498 81,747 79,744 86,24376 Consumption of fixed capital 5 623 5,149 8,253 9,072 10,382 11,436 11,465

77=20+18-76 Net savings and capital transfers 163 -1,159 788 -1,901 -26,490 -16,506 -11,143 -4,12078 GDP 7,657 81,275 290,489 538,050 526,345 529,624 562,062 595,367




Romania




2=3+4+5 118,261 126,207 141,405 135,302 140,204 130,331 7,747 2,1253 80,644 84,785 94,361 86,097 88,114 81,361 4,628 2,1254 37,616 41,421 47,044 49,205 52,089 48,970 3,119 -5 0 0 0 0 0 0 0 06 54,817 56,983 57,604 67,009 80,226 9,516 0 70,7107 16,039 16,946 19,668 18,595 18,160 14,088 3,866 2068 13,179 13,711 14,636 12,071 13,809 -78,505 14,619 60,623 17,0729 9,594 14,606 19,767 11,417 11,510 -2,544 8,404 5,650 0

10=11+..+18 225,554 236,841 258,031 266,722 288,575 -81,049 203,867 76,770 88,98711 36,421 40,444 42,274 42,692 44,054 19,873 17,961 6,22012 51,681 52,578 55,695 68,815 84,448 48,068 35,771 61013 11,160 11,037 11,644 11,473 11,565 -29 11,087 503 514 3,450 2,582 2,963 2,586 3,025 1,423 1,601 115 74,460 76,684 81,687 87,975 99,659 29,648 4,972 65,039

15a 68,074 70,001 75,208 81,374 92,839 28,990 4,472 59,37716 12,085 15,543 17,673 13,816 17,994 -78,476 77,656 1,720 17,09417 7,082 8,887 8,353 11,594 4,826 -2,544 4,968 2,400 118 29,217 29,085 37,742 27,770 23,004 11,145 11,842 1819 28,788 29,093 37,488 27,660 21,940 11,060 10,863 18

Government deficit

20=1-10 -13,665 -8,388 -4,952 -22,329 -24,668 -26,909 1,116 1,125


21=20-22 489 -247 -141 1,032 85 159 -68 -6

22=23-29 -14,154 -8,140 -4,810 -23,360 -24,752 -27,068 1,184 1,13223=24+..+28 6,411 12,248 3,634 11,632 -7,175 -3,853 -6,666 500 2,845

24 6,041 11,004 -3,714 15,180 -3,891 -3,124 -4,302 1,946 1,58925 0 10 -96 4 142 0 142 0 026 250 10 4 261 477 -621 937 162 027 -2,015 -21 -551 -471 -4,720 0 -4,720 0 028 2,135 1,245 7,990 -3,342 817 -108 1,276 -1,608 1,256

29=30+..+33 20,565 20,388 8,444 34,992 17,578 -3,853 20,402 -684 1,71330 -765 2,533 1,999 -345 -996 -3,124 2,128 - -31 21,987 27,412 12,238 21,358 21,928 0 21,982 -54 032 -1,737 -4,930 -6,057 -3,396 -7,527 -621 -6,706 -761 56133 1,080 -4,628 264 17,375 4,173 -108 2,997 131 1,152


35=44(t)-44(t-1)-23 -6,987 3,901 298 836 8,628 0 8,664 -37 036=50(t)-50(t-1)-29 3,606 8,299 -718 -3,013 595 0 1,443 -848 0

37=35-36 = 55(t)-55(t-1)-22 -10,593 -4,398 1,016 3,849 8,032 7,222 811 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 : : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 170,679 186,827 190,758 203,226 204,678 -28,103 190,067 22,165 20,55045 38,464 49,973 46,751 62,155 58,116 -20,477 55,601 13,668 9,32446 187 197 100 104 247 0 247 0 047 6,603 6,610 6,718 7,050 7,545 -6,789 13,351 389 59548 74,215 74,762 72,799 72,328 77,471 0 76,230 1,226 16

48a 5 6 19 19 19 : : :49 51,210 55,285 64,391 61,588 61,299 -837 44,639 6,882 10,616

50=51+..+54 301,867 330,554 338,279 370,258 388,431 -28,103 379,012 28,476 9,04651 4,222 6,755 8,754 8,409 7,412 -20,477 27,889 - -52 165,716 199,583 210,816 228,992 249,825 0 246,928 2,897 053 79,601 75,256 69,395 66,106 59,924 -6,789 47,960 13,477 5,27654 52,327 48,961 49,314 66,751 71,269 -837 56,234 12,102 3,770

55=44-50 -131,188 -143,727 -147,521 -167,032 -183,752 -188,945 -6,311 11,50456=39-50=40+55 : : : : : : : :


58=64(t)-64(t-1) 19,121 23,313 6,956 16,402 15,605 -3,745 19,510 -720 56159 = 57+58 = 60+..+63 5,456 14,925 2,004 -5,927 -9,062 -3,745 -7,399 396 1,686

60=23 6,411 12,248 3,634 11,632 -7,174 -3,853 -6,666 500 2,845

61=(-)33 -1,080 4,628 -264 -17,375 -4,173 108 -2,997 -131 -1,152

62 -364 -1,703 -1,223 -1,216 2,201 0 2,106 95 0

63 489 -247 -143 1,032 84 0 159 -68 -664=65+66+69 238,882 262,195 269,151 285,553 301,158 -27,266 306,877 16,272 5,276

65 4,222 6,755 8,753 8,409 7,411 -20,477 27,888 - -66=67+68 155,905 181,107 191,607 211,569 234,343 0 231,486 2,857 0

67 10,305 10,384 8,194 10,977 7,231 0 7,231 0 068 145,601 170,724 183,413 200,591 227,112 0 224,255 2,857 0

69=70+71 78,755 74,333 68,791 65,576 59,404 -6,789 47,503 13,415 5,27670 395 376 145 204 532 0 506 26 071 78,359 73,957 68,647 65,372 58,872 -6,789 46,996 13,389 5,27672 0 0 0 0 0 : : :73 15 15 15 14 14 : : :

74=45+46+48a 38,656 50,176 46,870 62,278 58,381 : : :


77=20+18-76 4,143 7,356 18,893 -10,063 -18,614 -26,022 6,640 76778 635,459 668,590 712,588 765,135 858,660

79 : : : : :

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Romania




2=3+4+5 Taxes 19.8 19.1 18.1 17.7 16.3 17.6 19.1 18.9 18.6 18.9 19.8 17.7 16.3 15.2 0.9 0.23 . Indirect taxes 9.3 11.9 12.8 11.3 10.3 11.8 13.0 13.1 12.7 12.7 13.2 11.3 10.3 9.5 0.5 0.24 . Direct taxes 10.6 7.2 5.3 6.4 6.0 5.8 6.1 5.8 5.9 6.2 6.6 6.4 6.1 5.7 0.4 -5 . Capital taxes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.06 Social contributions 7.8 11.4 10.2 9.7 9.7 9.4 9.0 8.7 8.6 8.5 8.1 8.8 9.3 1.1 0.0 8.27 Sales (incl. own account capital formation) 1.0 1.5 1.7 2.8 2.7 2.6 2.8 2.2 2.5 2.5 2.8 2.4 2.1 1.6 0.5 0.08 Other current revenue 3.2 1.7 1.9 1.5 1.4 2.1 1.5 2.0 2.1 2.1 2.1 1.6 1.6 -9.1 1.7 7.1 2.09 Capital revenue 0.3 0.1 0.3 0.7 0.5 1.3 1.5 1.7 1.5 2.2 2.8 1.5 1.3 -0.3 1.0 0.7 0.0



Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.2 0.3 0.2 -0.4 0.0 0.1 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -4.4 -1.1 -5.5 -8.8 -6.9 -5.5 -3.7 -2.2 -1.2 -0.7 -3.1 -2.9 -3.2 0.1 0.123=24+..+28 Net acquisition of financial assets : 0.5 0.6 -1.3 1.1 -0.1 1.8 1.8 1.0 1.8 0.5 1.5 -0.8 -0.4 -0.8 0.1 0.3

24 Currency and deposits : 0.2 0.4 -1.1 1.6 -0.4 1.0 1.8 1.0 1.6 -0.5 2.0 -0.5 -0.4 -0.5 0.2 0.225 Debt securities : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.026 Loans : 0.3 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.1 0.0 0.027 Shares and other equity : -0.6 -0.3 -0.1 -0.4 -0.1 0.1 -0.3 -0.3 0.0 -0.1 -0.1 -0.5 0.0 -0.5 0.0 0.028 Other financial assets : 0.6 0.6 -0.1 -0.1 0.3 0.7 0.3 0.3 0.2 1.1 -0.4 0.1 0.0 0.1 -0.2 0.1

29=30+..+33 Net incurrence of liabilities : 4.9 1.7 4.2 9.9 6.8 7.3 5.5 3.2 3.0 1.2 4.6 2.0 -0.4 2.4 -0.1 0.230 Currency and deposits : 0.6 0.6 -0.3 -0.1 0.4 0.3 -0.2 -0.1 0.4 0.3 0.0 -0.1 -0.4 0.2 - -31 Debt securities : 0.8 -1.1 1.6 6.1 4.0 4.2 5.1 3.5 4.1 1.7 2.8 2.6 0.0 2.6 0.0 0.032 Loans : 3.7 0.8 0.5 3.2 3.0 1.3 -0.4 -0.3 -0.7 -0.8 -0.4 -0.9 -0.1 -0.8 -0.1 0.133 Other liabilities : -0.2 1.5 2.4 0.8 -0.8 1.5 1.0 0.2 -0.7 0.0 2.3 0.5 0.0 0.3 0.0 0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : 26.5 -0.2 11.7 1.3 -6.0 -2.8 1.1 -1.1 0.6 0.0 0.1 1.0 0.0 1.0 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 2.7 -0.2 1.1 1.4 0.3 -0.1 1.0 0.6 1.2 -0.1 -0.4 0.1 0.0 0.2 -0.1 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 23.8 0.0 10.5 -0.1 -6.3 -2.7 0.1 -1.7 -0.7 0.1 0.5 0.9 0.8 0.1 0.0

38=34+37 = 56(t)-56(t-1)-77+21






50=51+..+54 Liabilities : 28.0 20.0 18.9 30.6 37.4 42.4 46.6 47.5 49.4 47.5 48.4 45.2 -3.3 44.1 3.3 1.151 Currency and deposits : 0.6 1.0 0.6 0.4 0.9 1.1 0.8 0.7 1.0 1.2 1.1 0.9 -2.4 3.2 - -52 Debt securities : 9.0 4.9 5.1 11.9 16.0 19.7 24.1 26.1 29.9 29.6 29.9 29.1 0.0 28.8 0.3 0.053 Loans : 12.9 9.9 6.6 10.3 13.4 14.1 13.5 12.5 11.3 9.7 8.6 7.0 -0.8 5.6 1.6 0.654 Other liabilities : 5.5 4.2 6.6 7.9 7.1 7.5 8.2 8.2 7.3 6.9 8.7 8.3 -0.1 6.5 1.4 0.4

55=44-50 Financial net worth : 46.6 15.5 14.3 5.8 -7.4 -15.1 -17.9 -20.6 -21.5 -20.7 -21.8 -21.4 -22.0 -0.7 1.356=39-50=40+55 Net worth : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt 4.4 7.6 -0.3 2.9 9.4 7.8 6.0 4.8 3.0 3.5 1.0 2.1 1.8 -0.4 2.3 -0.1 0.159 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 2.5 3.1 -1.0 -2.4 0.2 0.9 0.6 1.2 0.9 2.2 0.3 -0.8 -1.1 -0.4 -0.9 0.0 0.2

60=23 Net acquisition of financial assets 0.1 0.5 0.6 -1.3 1.1 -0.1 1.8 1.8 1.0 1.8 0.5 1.5 -0.8 -0.4 -0.8 0.1 0.3

61=(-)33 Incurrence in liabilities not in government debt 1.2 0.2 -1.5 -2.4 -0.8 0.8 -1.5 -1.0 -0.2 0.7 0.0 -2.3 -0.5 0.0 -0.3 0.0 -0.1

62Valuation effects and other changes in volume in government debt : 2.6 -0.4 1.1 0.3 0.0 0.1 0.3 -0.1 -0.3 -0.2 -0.2 0.3 0.0 0.2 0.0 0.0

63 Statistical discrepancies -0.2 -0.3 0.3 0.2 -0.3 0.2 0.1 0.0 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.064=65+66+69 Government debt (nominal / face value) : 22.4 15.7 12.4 22.1 29.7 34.0 36.9 37.6 39.2 37.8 37.3 35.1 -3.2 35.7 1.9 0.6






77=20+18-76 Net savings and capital transfers 2.1 -1.4 0.3 -0.4 -5.0 -3.1 -2.0 -0.7 0.7 1.1 2.7 -1.3 -2.2 -3.0 0.8 0.178 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Romania




2=3+4+5 27.0 36.3 24.6 17.2 23.3 22.5 19.9 -9.9 8.7 14.8 5.0 5.2 6.7 12.0 -4.3 3.63 32.6 37.1 19.9 28.3 18.5 16.8 17.7 -10.6 15.5 16.5 6.7 3.4 5.1 11.3 -8.8 2.34 17.0 34.7 34.4 -3.1 34.8 34.6 24.0 -8.8 -2.9 11.1 1.4 9.1 10.1 13.6 4.6 5.956 27.6 15.6 22.3 24.1 20.1 22.6 19.1 -1.4 -3.3 2.5 2.3 5.5 4.0 1.1 16.3 19.77 68.7 19.1 20.4 15.2 35.3 77.1 25.6 -7.7 -0.3 13.1 -16.4 21.7 5.7 16.1 -5.5 -2.38 40.0 4.3 52.9 -6.5 30.0 0.4 10.0 -6.4 51.0 -22.9 39.8 8.9 4.0 6.7 -17.5 14.49 20.8 -0.3 910.6 -2.9 -61.7 1430.7 -28.3 -39.8 177.2 26.4 21.0 -5.8 52.2 35.3 -42.2 0.8

10=11+..+18 24.6 24.0 25.5 16.2 27.1 30.6 27.4 2.8 1.1 4.7 0.3 1.8 5.0 8.9 3.4 8.211 17.1 26.7 3.7 34.7 12.3 29.5 25.0 -5.2 -10.1 12.2 10.1 2.2 11.0 4.5 1.0 3.212 32.2 24.7 24.7 25.5 26.4 26.6 33.9 1.3 -7.6 -12.9 5.1 11.5 1.7 5.9 23.6 22.713 -7.4 -15.6 13.0 0.0 -19.4 -0.8 24.5 113.9 4.9 13.4 15.2 7.2 -1.1 5.5 -1.5 0.814 20.2 64.5 28.7 -0.4 37.3 -5.9 -10.6 -2.5 -3.9 -10.4 -19.2 -11.2 -25.1 14.8 -12.7 17.015 25.5 18.9 38.5 19.0 15.8 26.2 38.1 16.1 9.2 1.3 -2.7 3.0 3.0 6.5 7.7 13.3

15a 23.6 19.1 29.7 18.7 16.3 26.3 39.1 19.6 6.0 -1.3 -0.4 2.3 2.8 7.4 8.2 14.116 33.1 29.7 25.2 -12.9 3.9 193.4 -6.6 23.9 9.1 19.0 25.5 -20.2 28.6 13.7 -21.8 30.217 76.0 23.0 153.0 -33.8 37.9 8.5 -13.9 -67.8 160.4 208.2 -36.0 -19.5 25.5 -6.0 38.8 -58.418 37.8 40.3 -3.5 20.3 117.9 48.1 32.3 -13.0 -0.8 0.8 -5.0 0.2 -0.4 29.8 -26.4 -17.219 52.8 40.8 -0.3 18.5 119.7 45.6 33.2 -12.5 -1.2 1.5 -6.8 0.7 1.1 28.9 -26.2 -20.7

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 2.1 1.9 4.5 1.7 -1.7 6.1 -5.8 3.3 -0.3 6.5 7.1 3.7 7.2 1.9 6.1 -3.5

24 15.9 19.8 122.9 13.3 66.2 -3.8 -37.6 71.1 -11.0 29.0 54.6 18.9 28.6 -7.4 32.5 -6.325 0.0 5.3 -49.0 4.3 136.426 35.0 1.1 19.7 -1.2 -0.4 -3.6 -0.6 2.5 8.2 4.1 1.7 3.7 0.1 0.1 3.9 6.827 -1.3 -1.2 -5.2 -1.7 -13.8 0.9 -0.5 -1.8 -0.5 0.5 -2.1 -2.4 0.0 -0.7 -0.6 -6.528 1.9 6.1 6.8 5.9 0.7 17.6 -1.8 -1.7 4.6 9.1 3.8 4.3 2.4 14.5 -5.2 1.3

29=30+..+33 13.9 11.0 14.8 9.2 9.9 32.9 30.9 51.2 22.2 20.7 13.8 7.4 6.8 2.6 10.3 4.730 24.6 60.2 4.8 119.1 36.6 17.0 -34.8 -23.1 98.4 36.8 -22.0 -15.3 60.0 29.6 -3.9 -11.831 21.6 1.3 8.6 -18.2 -7.8 42.6 47.3 115.3 34.1 28.1 27.7 15.3 16.5 6.1 10.1 9.632 5.1 8.8 16.2 8.1 4.9 12.9 10.2 46.6 29.8 10.0 -3.1 -2.2 -6.2 -8.0 -4.9 -11.433 37.0 59.9 29.6 59.1 36.1 76.0 58.7 12.1 -9.8 22.4 14.6 2.2 -8.8 0.5 35.2 6.3


35=44(t)-44(t-1)-23 15.1 9.8 5.2 -0.6 -12.5 33.3 50.8 3.8 -16.6 -9.8 4.3 -4.1 2.3 0.2 0.4 4.236=50(t)-50(t-1)-29 11.6 6.7 -3.4 -1.0 -16.2 1.1 8.4 7.0 0.8 -0.4 2.6 1.3 2.7 -0.2 -0.9 0.2

37=35-36 = 55(t)-55(t-1)-22 18.0 12.7 14.4 -0.2 -7.6 84.7 112.4 -0.5 -108.8 38.3 -0.5 10.0 3.4 -0.7 -2.6 -4.8

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 17.2 11.7 9.7 1.1 -14.2 39.4 45.1 7.0 -16.9 -3.3 11.4 -0.3 9.5 2.1 6.5 0.745 16.0 29.4 120.0 12.0 69.7 8.0 -25.3 75.2 -6.2 -1.0 62.6 20.4 29.9 -6.4 32.9 -6.546 0.0 5.3 -49.0 4.3 136.447 35.0 1.1 19.7 -1.2 -0.4 -2.9 1.5 15.7 1.2 4.5 0.5 -1.0 0.1 1.6 4.9 7.048 23.9 14.6 3.2 -4.1 -38.6 76.6 95.8 4.0 -27.4 -10.2 1.6 -10.6 0.7 -2.6 -0.6 7.1

48a 3620.0 32.8 -21.1 111.3 20.4 17.5 221.4 0.3 -1.349 4.1 6.0 7.2 8.9 3.7 21.5 1.8 -5.1 7.8 9.1 7.9 3.5 8.0 16.5 -4.4 -0.5

50=51+..+54 25.6 17.7 11.4 8.2 -6.3 34.1 39.4 58.2 23.1 20.4 16.4 8.7 9.5 2.3 9.5 4.951 24.6 60.2 4.8 119.1 36.6 17.0 -34.8 -23.1 98.4 36.8 -22.0 -15.3 60.0 29.6 -3.9 -11.852 27.0 6.4 5.8 -19.7 -12.1 44.8 51.6 127.3 34.7 30.5 29.8 15.5 20.4 5.6 8.6 9.153 21.3 16.8 10.4 5.7 -6.7 6.3 25.2 52.1 31.4 11.4 1.3 -1.0 -5.5 -7.8 -4.7 -9.454 52.1 67.3 34.6 64.4 -8.8 95.0 63.8 17.3 -9.7 12.4 15.7 7.2 -6.4 0.7 35.4 6.8

55=44-50 10.2 5.8 7.9 -6.9 -24.4 47.9 53.4 -60.4 -228.0 117.0 25.6 23.2 9.6 2.6 13.2 10.056=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 24.5 12.3 9.3 -1.6 -6.7 19.7 31.1 74.0 35.4 21.4 15.0 8.7 9.8 2.7 6.1 5.559 = 57+58 = 60+..+63 14.8 5.0 3.0 -6.6 -22.7 -7.6 -25.6 2.0 4.0 2.1 3.6 2.5 6.2 0.8 -2.2 -3.2

60=23 5.0 4.2 9.9 3.7 -3.9 12.7 -14.0 8.7 -0.5 6.6 5.7 2.9 5.1 1.4 4.3 -2.5

61=(-)33 -2.6 -5.2 -3.8 -9.4 -9.6 -19.8 -24.9 -6.4 3.5 -5.3 -3.2 -0.5 1.9 -0.1 -6.5 -1.5

62 11.7 5.8 -4.4 -2.7 -9.7 -2.9 11.2 2.4 -0.1 0.5 1.0 -0.2 -0.7 -0.5 -0.5 0.8

63 0.6 0.2 1.3 1.9 0.5 2.4 2.1 -2.8 1.0 0.4 0.1 0.2 -0.1 -0.1 0.4 0.064=65+66+69 24.5 12.3 9.3 -1.6 -6.7 19.7 31.1 74.0 35.4 21.4 15.0 8.7 9.8 2.7 6.1 5.5

65 23.9 60.1 4.9 119.6 37.0 17.0 -34.8 -23.1 98.4 36.8 -22.0 -15.3 60.0 29.6 -3.9 -11.966=67+68 31.2 3.9 7.8 -22.4 -14.8 50.1 56.7 111.9 36.7 29.4 27.4 14.9 16.2 5.8 10.4 10.8

67 53.6 -51.3 47.1 -100.0 306.3 214.5 40.4 3.6 -19.6 -63.7 0.8 -21.1 34.0 -34.168 12.9 65.2 -5.1 17.0 -14.8 34.4 27.5 73.6 34.2 47.7 50.7 35.8 17.3 7.4 9.4 13.2

69=70+71 19.6 17.1 10.5 6.6 -7.1 6.2 25.6 51.9 31.3 10.9 1.3 -0.4 -5.6 -7.5 -4.7 -9.470 -51.2 -69.6 1201.7 433.9 -84.6 16.9 613.7 -85.1 4.1 -4.8 -61.5 41.0 161.071 19.6 17.1 9.7 7.0 -6.9 4.9 20.2 60.0 31.4 7.8 4.2 -0.5 -5.6 -7.2 -4.8 -9.972 : : : : : : : :73 : : : : : : : : 9.1 25.0 2.7 -1.0 -1.8 -0.8 -3.7 -2.6

74=45+46+48a 16.0 29.4 120.0 12.0 69.7 8.0 -25.3 75.2 -6.1 -1.0 63.5 20.2 29.8 -6.6 32.9 -6.3

Table C - Memorandum items75 21.7 36.4 17.0 29.3 17.2 20.0 30.9 -0.3 -4.4 -2.5 8.1 4.5 7.0 2.7 16.4 16.476 22.8 158.0 -3.3 18.5 9.9 13.5 28.5 9.9 14.4 10.2 0.3 -0.5 16.9 4.2 11.6 9.3

77=20+18-7678 29.0 30.2 25.1 16.8 19.5 23.6 25.4 -2.2 0.6 6.1 5.9 6.7 5.2 6.6 7.4 12.2

79 : : : : : : : : : : : : : : : :



Slovenia




2=3+4+5 Taxes 2,308 4,294 6,996 8,618 7,850 8,024 8,072 7,9493 . Indirect taxes 1,592 2,924 4,493 5,287 4,908 5,100 5,175 5,2204 . Direct taxes 707 1,354 2,495 3,320 2,931 2,910 2,886 2,7195 . Capital taxes 8 16 8 11 11 14 12 106 Social contributions 1,754 2,675 4,165 5,326 5,388 5,497 5,524 5,5037 Sales (incl . own account capital formation) 358 659 950 1,151 1,166 1,385 1,555 1,5468 Other current revenue 193 390 558 858 713 742 675 8069 Capital revenue 5 16 69 160 210 168 160 240

10=11+..+18 Total expenditure 5,479 8,722 13,127 16,649 17,438 17,858 18,448 17,50311 Intermediate consumption 649 1,200 1,718 2,266 2,341 2,457 2,631 2,48812 Compensation of employees 1,171 2,089 3,305 4,112 4,400 4,561 4,670 4,54613 Interest 220 445 447 416 474 591 698 73014 Subsidies 225 350 435 593 665 648 377 32915 Social benefits 1,789 3,325 5,089 6,203 6,631 6,861 7,136 6,942

15a of which other than transfers in kind 1,610 2,957 4,497 5,472 5,840 6,082 6,340 6,18516 Other current expenditure 111 330 804 893 841 794 810 79917 Capital transfers payable 882 289 260 331 224 203 580 18918 Capital investments 432 693 1,069 1,835 1,862 1,743 1,545 1,47919 of which, gross fixed capital formation 430 698 1,099 1,789 1,825 1,798 1,499 1,464

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -860 -688 -390 -536 -2,112 -2,043 -2,462 -1,459


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -21 -71 -6 47 -2 25

22=23-29 Net financial transactions : : -368 -465 -2,107 -2,090 -2,460 -1,48423=24+..+28 Net acquisition of financial assets : : -118 335 2,234 -845 817 832

24 Currency and deposits : : -157 244 2,062 -989 747 -7025 Debt securities : : 14 -34 -44 34 -92 226 Loans : : 8 0 1 100 263 98127 Shares and other equity : : -87 -8 154 -1 80 6128 Other financial assets : : 105 134 61 11 -182 -142

29=30+..+33 Net incurrence of liabilities : : 250 801 4,341 1,245 3,276 2,31630 Currency and deposits : : 3 -1 4 17 9 -931 Debt securities : : 178 379 4,126 875 3,038 1,12132 Loans : : 107 44 212 442 122 1,09233 Other liabilities : : -38 379 -1 -89 106 111


35=44(t)-44(t-1)-23 Other changes in financial assets : : 251 -3,318 405 1,777 -266 24936=50(t)-50(t-1)-29 Other changes in liabilities : : -207 -100 209 282 -1,609 1,095

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 458 -3,218 196 1,495 1,344 -846

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 12,316 13,260 15,900 16,831 17,382 18,46445 Currency and deposits : : 1,258 2,280 4,336 3,510 4,372 4,28546 Debt securities : : 250 304 269 316 217 22247 Loans : : 376 448 280 382 674 1,65748 Shares and other equity : : 7,815 7,811 8,561 10,274 9,935 10,276

48a of which, Investment fund shares : : 31 78 99 141 124 14649 Other financial assets : : 2,618 2,417 2,453 2,348 2,185 2,024

50=51+..+54 Liabilities : : 10,301 11,268 15,818 17,344 19,011 22,42251 Currency and deposits : : 14 141 145 145 157 14852 Debt securities : : 6,922 7,603 11,946 12,979 14,211 16,29853 Loans : : 1,144 838 1,045 1,620 1,909 3,00654 Other liabilities : : 2,220 2,687 2,681 2,601 2,734 2,970

55=44-50 Financial net worth : : 2,016 1,992 82 -513 -1,629 -3,95956=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -860 -688 -390 -536 -2,112 -2,043 -2,462 -1,459

58=64(t)-64(t-1) Change in Government Debt : 802 254 249 4,253 1,380 3,296 2,20059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : 114 -136 -287 2,140 -663 835 742

60=23 Net acquisition of financial assets : 0 -134 335 2,234 -846 817 832

61=(-)33 Incurrence in liabilities not in government debt : : -4 -379 1 89 -106 -111

62 Valuation effects and other changes in volume in government debt : 195 20 -167 -88 46 126 -11

63 Statistical discrepancies : 35 -17 -77 -7 48 -2 3164=65+66+69 Government debt (nominal / face value) : 4,886 7,683 8,275 12,527 13,907 17,204 19,404



69=70+71 . Loans : 1,109 1,140 823 1,036 1,610 1,900 2,98470 .. short term : 104 92 65 21 34 39 3771 .. long term : 1,005 1,049 759 1,016 1,576 1,861 2,94772 Intergovernmental lending (asset)* : : : : 0 103 325 97273 Intergovernmental lending (borrowing)* : : : : 0 0 0 0

74=45+46+48a Government liquid assets : : 1,538 2,663 4,704 3,968 4,713 4,653

Table C - Memorandum items75 Government final consumption expenditure 1,895 3,498 5,460 6,841 7,255 7,353 7,537 7,29676 Consumption of fixed capital 250 415 635 811 875 929 983 1,034

77=20+18-76 Net savings and capital transfers -679 -410 44 487 -1,126 -1,229 -1,899 -1,01478 GDP 10,522 18,902 29,227 37,951 36,166 36,252 36,896 36,076




Slovenia




2=3+4+5 7,970 8,287 8,540 8,921 9,391 7,930 1,461 03 5,422 5,584 5,729 5,888 6,142 5,819 323 04 2,540 2,693 2,801 3,021 3,236 2,109 1,128 05 8 10 10 12 12 2 11 06 5,387 5,485 5,724 5,967 6,371 151 46 6,1757 1,555 1,532 1,542 1,526 1,669 1,028 624 178 914 821 902 944 971 -3,603 2,030 1,285 1,2599 423 557 732 152 191 -113 187 115 2

10=11+..+18 21,568 18,754 18,544 18,292 18,564 -3,717 11,367 3,517 7,39611 2,472 2,466 2,559 2,601 2,698 1,880 791 2812 4,328 4,255 4,295 4,582 4,812 3,102 1,660 5013 928 1,219 1,252 1,220 1,071 -5 1,061 15 014 380 329 317 315 322 216 106 015 6,947 6,919 7,019 7,075 7,326 1,386 208 5,733

15a 6,198 6,193 6,253 6,279 6,491 1,276 208 5,00716 854 752 783 1,028 717 -3,599 2,604 136 1,57517 3,996 866 472 199 237 -113 322 29 018 1,664 1,948 1,847 1,271 1,380 797 573 1019 1,576 1,915 1,824 1,254 1,332 744 578 10

Government deficit

20=1-10 -5,319 -2,072 -1,104 -781 28 -41 13 57


21=20-22 15 17 0 -24 11 19 -7 -1

22=23-29 -5,334 -2,089 -1,103 -758 17 -60 19 5823=24+..+28 840 2,936 871 -1,973 -789 20 -862 22 31

24 -281 2,180 1,150 -1,001 -391 0 -388 30 -3325 -3 -38 214 -84 -17 4 -17 0 -426 852 807 -666 -293 -326 -9 -316 0 027 217 -14 68 -282 -22 0 -41 -3 2128 55 -1 105 -313 -33 25 -100 -5 47

29=30+..+33 6,174 5,024 1,975 -1,215 -806 20 -802 3 -2730 22 -8 -3 0 6 0 6 0 031 5,762 4,393 1,007 -1,419 190 4 185 0 032 332 387 875 259 -919 -9 -907 -3 033 58 253 95 -56 -82 25 -86 6 -26


35=44(t)-44(t-1)-23 3,920 2,156 20 -309 -328 -19 -392 -28 11236=50(t)-50(t-1)-29 565 3,276 470 744 -254 -19 -250 -2 18

37=35-36 = 55(t)-55(t-1)-22 3,355 -1,120 -449 -1,053 -74 -142 -26 94

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 22,059 23,085 24,076 24,592 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 23,223 28,315 29,207 26,925 25,808 -1,379 23,962 1,376 1,84945 4,000 6,197 7,367 6,401 6,010 0 5,480 466 6446 203 172 382 309 289 -71 271 0 9047 4,831 6,346 4,762 3,893 3,225 -155 3,379 1 048 12,099 13,321 13,135 12,886 13,437 -1,013 12,690 525 1,235

48a 163 206 244 252 296 : : :49 2,091 2,280 3,561 3,435 2,846 -140 2,142 383 460

50=51+..+54 29,161 37,462 39,906 39,435 38,375 -1,379 37,321 1,224 1,20951 170 163 161 166 172 0 172 0 052 22,206 30,312 32,256 31,502 31,413 -71 31,484 0 053 3,339 3,743 4,613 4,948 4,028 -155 3,402 781 154 3,445 3,244 2,876 2,820 2,762 -1,153 2,263 443 1,209

55=44-50 -5,938 -9,147 -10,699 -12,510 -12,567 -13,359 152 64056=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -5,319 -2,072 -1,104 -781 28 -41 13 57

58=64(t)-64(t-1) 6,101 4,715 1,868 -334 106 -8 117 -3 059 = 57+58 = 60+..+63 781 2,643 764 -1,115 134 -8 76 10 56

60=23 840 2,936 871 -1,973 -789 20 -862 22 31

61=(-)33 -57 -252 -95 56 82 -25 86 -6 26

62 -8 -64 -40 801 812 -5 817 : 0

63 7 25 27 1 29 0 34 -4 -164=65+66+69 25,505 30,220 32,087 31,753 31,859 -212 31,292 778 1

65 170 162 161 166 172 0 172 - -66=67+68 22,010 26,341 27,330 26,653 27,672 -57 27,729 0 -

67 596 897 369 306 398 0 398 0 -68 21,414 25,444 26,961 26,348 27,274 -57 27,331 0 -

69=70+71 3,324 3,717 4,596 4,934 4,016 -155 3,392 778 170 49 184 1,226 1,061 276 -3 276 3 071 3,275 3,533 3,370 3,874 3,739 -152 3,116 775 172 1,162 1,210 1,155 1,155 1,155 : : :73 0 0 0 0 0 : : :

74=45+46+48a 4,367 6,574 7,992 6,962 6,595 : : :

Table C - Memorandum items75 7,073 6,997 7,198 7,592 7,837 4,824 2,210 80476 1,049 1,064 1,102 1,119 1,142 750 379 13

77=20+18-76 -4,705 -1,188 -359 -629 266 6 207 5378 36,239 37,603 38,863 40,357 43,000

79 164 164 164 166 169

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Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -8.2 -3.6 -1.3 -1.4 -5.8 -5.6 -6.7 -4.0 -14.7 -5.5 -2.8 -1.9 0.1 -0.1 0.0 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : -0.1 -0.2 0.0 0.1 0.0 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : : -1.3 -1.2 -5.8 -5.8 -6.7 -4.1 -14.7 -5.6 -2.8 -1.9 0.0 -0.1 0.0 0.123=24+..+28 Net acquisition of financial assets : : -0.4 0.9 6.2 -2.3 2.2 2.3 2.3 7.8 2.2 -4.9 -1.8 0.0 -2.0 0.1 0.1

24 Currency and deposits : : -0.5 0.6 5.7 -2.7 2.0 -0.2 -0.8 5.8 3.0 -2.5 -0.9 0.0 -0.9 0.1 -0.125 Debt securities : : 0.0 -0.1 -0.1 0.1 -0.2 0.0 0.0 -0.1 0.6 -0.2 0.0 0.0 0.0 0.0 0.026 Loans : : 0.0 0.0 0.0 0.3 0.7 2.7 2.4 2.1 -1.7 -0.7 -0.8 0.0 -0.7 0.0 0.027 Shares and other equity : : -0.3 0.0 0.4 0.0 0.2 0.2 0.6 0.0 0.2 -0.7 -0.1 0.0 -0.1 0.0 0.028 Other financial assets : : 0.4 0.4 0.2 0.0 -0.5 -0.4 0.2 0.0 0.3 -0.8 -0.1 0.1 -0.2 0.0 0.1

29=30+..+33 Net incurrence of liabilities : : 0.9 2.1 12.0 3.4 8.9 6.4 17.0 13.4 5.1 -3.0 -1.9 0.0 -1.9 0.0 -0.130 Currency and deposits : : 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities : : 0.6 1.0 11.4 2.4 8.2 3.1 15.9 11.7 2.6 -3.5 0.4 0.0 0.4 0.0 0.032 Loans : : 0.4 0.1 0.6 1.2 0.3 3.0 0.9 1.0 2.3 0.6 -2.1 0.0 -2.1 0.0 0.033 Other liabilities : : -0.1 1.0 0.0 -0.2 0.3 0.3 0.2 0.7 0.2 -0.1 -0.2 0.1 -0.2 0.0 -0.1


35=44(t)-44(t-1)-23 Other changes in financial assets : : 0.9 -8.7 1.1 4.9 -0.7 0.7 10.8 5.7 0.1 -0.8 -0.8 0.0 -0.9 -0.1 0.336=50(t)-50(t-1)-29 Other changes in liabilities : : -0.7 -0.3 0.6 0.8 -4.4 3.0 1.6 8.7 1.2 1.8 -0.6 0.0 -0.6 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : 1.6 -8.5 0.5 4.1 3.6 -2.3 9.3 -3.0 -1.2 -2.6 -0.2 -0.3 -0.1 0.2

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : 42.1 34.9 44.0 46.4 47.1 51.2 64.1 75.3 75.2 66.7 60.0 -3.2 55.7 3.2 4.345 Currency and deposits : : 4.3 6.0 12.0 9.7 11.8 11.9 11.0 16.5 19.0 15.9 14.0 0.0 12.7 1.1 0.146 Debt securities : : 0.9 0.8 0.7 0.9 0.6 0.6 0.6 0.5 1.0 0.8 0.7 -0.2 0.6 0.0 0.247 Loans : : 1.3 1.2 0.8 1.1 1.8 4.6 13.3 16.9 12.3 9.6 7.5 -0.4 7.9 0.0 0.048 Shares and other equity : : 26.7 20.6 23.7 28.3 26.9 28.5 33.4 35.4 33.8 31.9 31.3 -2.4 29.5 1.2 2.9

48a of which, Investment fund shares : : 0.1 0.2 0.3 0.4 0.3 0.4 0.5 0.5 0.6 0.6 0.7 : : :49 Other financial assets : : 9.0 6.4 6.8 6.5 5.9 5.6 5.8 6.1 9.2 8.5 6.6 -0.3 5.0 0.9 1.1

50=51+..+54 Liabilities : : 35.2 29.7 43.7 47.8 51.5 62.2 80.5 99.6 102.7 97.7 89.2 -3.2 86.8 2.8 2.851 Currency and deposits : : 0.0 0.4 0.4 0.4 0.4 0.4 0.5 0.4 0.4 0.4 0.4 0.0 0.4 0.0 0.052 Debt securities : : 23.7 20.0 33.0 35.8 38.5 45.2 61.3 80.6 83.0 78.1 73.1 -0.2 73.2 0.0 0.053 Loans : : 3.9 2.2 2.9 4.5 5.2 8.3 9.2 10.0 11.9 12.3 9.4 -0.4 7.9 1.8 0.054 Other liabilities : : 7.6 7.1 7.4 7.2 7.4 8.2 9.5 8.6 7.4 7.0 6.4 -2.7 5.3 1.0 2.8

55=44-50 Financial net worth : : 6.9 5.2 0.2 -1.4 -4.4 -11.0 -16.4 -24.3 -27.5 -31.0 -29.2 -31.1 0.4 1.556=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -8.2 -3.6 -1.3 -1.4 -5.8 -5.6 -6.7 -4.0 -14.7 -5.5 -2.8 -1.9 0.1 -0.1 0.0 0.1

58=64(t)-64(t-1) Change in Government Debt : 4.2 0.9 0.7 11.8 3.8 8.9 6.1 16.8 12.5 4.8 -0.8 0.2 0.0 0.3 0.0 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : 0.6 -0.5 -0.8 5.9 -1.8 2.3 2.1 2.2 7.0 2.0 -2.8 0.3 0.0 0.2 0.0 0.1

60=23 Net acquisition of financial assets : 0.0 -0.5 0.9 6.2 -2.3 2.2 2.3 2.3 7.8 2.2 -4.9 -1.8 0.0 -2.0 0.1 0.1

61=(-)33 Incurrence in liabilities not in government debt : : 0.0 -1.0 0.0 0.2 -0.3 -0.3 -0.2 -0.7 -0.2 0.1 0.2 -0.1 0.2 0.0 0.1

62Valuation effects and other changes in volume in government debt : 1.0 0.1 -0.4 -0.2 0.1 0.3 0.0 0.0 -0.2 -0.1 2.0 1.9 0.0 1.9 : 0.0

63 Statistical discrepancies : 0.2 -0.1 -0.2 0.0 0.1 0.0 0.1 0.0 0.1 0.1 0.0 0.1 0.0 0.1 0.0 0.064=65+66+69 Government debt (nominal / face value) : 25.9 26.3 21.8 34.6 38.4 46.6 53.8 70.4 80.4 82.6 78.7 74.1 -0.5 72.8 1.8 0.0

65 . Currency and deposits : 0.0 0.0 0.4 0.4 0.4 0.4 0.4 0.5 0.4 0.4 0.4 0.4 0.0 0.4 - -66=67+68 . Debt securities : 20.0 22.3 19.3 31.4 33.5 41.1 45.1 60.7 70.0 70.3 66.0 64.4 -0.1 64.5 0.0 -



74=45+46+48a Government liquid assets : : 5.3 7.0 13.0 10.9 12.8 12.9 12.1 17.5 20.6 17.3 15.3 : : :


77=20+18-76 Net savings and capital transfers -6.5 -2.2 0.2 1.3 -3.1 -3.4 -5.1 -2.8 -13.0 -3.2 -0.9 -1.6 0.6 0.0 0.5 0.178 GDP



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2=3+4+5 14.3 9.9 8.0 7.6 7.4 9.7 4.5 -8.9 2.2 0.6 -1.5 0.3 4.0 3.1 4.5 5.33 13.9 9.6 6.2 5.3 4.2 8.3 4.3 -7.2 3.9 1.5 0.9 3.9 3.0 2.6 2.8 4.34 15.6 11.3 11.0 12.4 13.3 12.0 4.8 -11.7 -0.7 -0.8 -5.8 -6.6 6.0 4.0 7.9 7.15 -19.0 -69.3 178.8 -49.1 -29.2 53.8 26.7 -0.5 24.7 -13.3 -18.7 -11.7 13.3 -0.2 28.4 -0.76 10.3 8.0 8.3 6.1 6.3 8.7 10.6 1.2 2.0 0.5 -0.4 -2.1 1.8 4.4 4.2 6.87 14.8 2.1 3.5 5.5 3.6 4.9 11.6 1.2 18.8 12.3 -0.6 0.5 -1.4 0.6 -1.0 9.38 9.0 -0.4 7.1 -3.9 -2.9 8.1 46.4 -16.9 4.1 -9.0 19.5 13.4 -10.2 10.0 4.6 2.99 -5.0 12.4 222.9 -21.8 48.4 21.3 28.4 31.6 -20.3 -4.5 49.7 76.5 31.7 31.4 -79.2 25.7

10=11+..+18 9.0 8.6 6.7 4.7 6.3 6.3 12.3 4.7 2.4 3.3 -5.1 23.2 -13.0 -1.1 -1.4 1.511 13.2 4.5 4.6 5.7 8.5 4.6 16.3 3.3 4.9 7.1 -5.4 -0.7 -0.2 3.8 1.6 3.712 9.9 9.8 6.7 5.3 5.3 4.6 12.9 7.0 3.7 2.4 -2.6 -4.8 -1.7 0.9 6.7 5.013 3.7 -3.1 -6.5 -2.8 -3.3 1.3 -4.9 14.0 24.7 18.1 4.5 27.1 31.4 2.7 -2.5 -12.214 11.4 19.5 -8.3 -5.7 12.8 12.1 7.8 12.2 -2.5 -41.9 -12.7 15.3 -13.3 -3.7 -0.7 2.415 11.9 8.4 7.3 5.0 5.5 4.7 10.3 6.9 3.5 4.0 -2.7 0.1 -0.4 1.4 0.8 3.6

15a 11.8 8.5 7.4 4.8 5.3 4.8 10.3 6.7 4.1 4.2 -2.4 0.2 -0.1 1.0 0.4 3.416 -6.8 4.1 38.9 27.5 -1.9 -5.6 20.0 -5.9 -5.6 2.1 -1.4 7.0 -12.0 4.2 31.3 -30.317 -36.7 37.4 -8.9 -15.8 -13.9 18.9 24.1 -32.4 -9.3 185.8 -67.3 2010.3 -78.3 -45.4 -57.9 19.318 21.1 8.7 11.9 -0.1 22.1 24.0 13.4 1.5 -6.4 -11.3 -4.3 12.5 17.1 -5.2 -31.2 8.519 5.6 9.6 13.5 0.8 23.2 17.9 12.1 2.0 -1.5 -16.6 -2.4 7.7 21.5 -4.7 -31.3 6.2

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : -1.0 4.6 0.6 2.1 16.8 -5.3 4.9 4.8 4.5 12.6 3.1 -6.8 -2.9

24 : : : -11.3 27.9 25.9 12.3 90.4 -22.8 21.3 -1.6 -6.6 54.5 18.6 -13.6 -6.125 : : : 5.9 -5.6 39.9 -9.8 -14.6 12.7 -28.9 0.7 -1.2 -18.5 124.6 -22.0 -5.426 : : : 2.2 3.3 2.3 -0.1 0.3 35.6 68.8 145.5 51.4 16.7 -10.5 -6.1 -8.427 : : : -1.1 -1.3 -8.7 -0.1 2.0 0.0 0.8 0.6 2.1 -0.1 0.5 -2.1 -0.228 : : : 4.2 12.1 16.1 6.0 2.5 0.4 -7.8 -6.5 2.7 0.0 4.6 -8.8 -1.0

29=30+..+33 : : : 2.4 9.0 1.1 7.6 38.5 7.9 18.9 12.2 27.5 17.2 5.3 -3.0 -2.030 : : : 24.2 -32.5 216.4 -0.4 3.2 11.6 6.4 -5.6 14.9 -4.4 -1.8 0.2 3.531 : : : 2.6 9.8 -2.6 5.3 54.3 7.3 23.4 7.9 35.4 19.8 3.3 -4.4 0.632 : : : 10.4 -10.3 -14.9 5.3 25.3 42.3 7.6 57.2 11.1 11.6 23.4 5.6 -18.633 : : : -1.6 16.9 13.3 16.4 0.0 -3.3 4.1 4.1 1.9 7.3 2.9 -1.9 -2.9


35=44(t)-44(t-1)-23 : : : 2.1 6.9 17.7 -20.4 3.1 11.2 -1.6 1.4 21.2 9.3 0.1 -1.1 -1.236=50(t)-50(t-1)-29 : : : -2.0 -1.9 -5.4 -1.0 1.9 1.8 -9.3 5.8 2.5 11.2 1.3 1.9 -0.6

37=35-36 = 55(t)-55(t-1)-22 : : : 23.8 51.7 112.3 -56.7 9.8 1829.0 -262.0 51.9 -84.8 18.9 4.9 9.8 0.6

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 10.0 10.7 14.0 9.5 8.8 11.1 11.7 5.8 7.4 5.9 4.1 4.0 4.7 4.3 2.1 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : 1.1 11.5 18.3 -18.4 19.9 5.9 3.3 6.2 25.8 21.9 3.1 -7.8 -4.145 : : : -9.8 26.5 24.2 15.3 90.1 -19.0 24.5 -2.0 -6.7 54.9 18.9 -13.1 -6.146 : : : 6.8 -2.2 43.6 -13.2 -11.5 17.5 -31.4 2.1 -8.2 -15.6 122.4 -19.1 -6.447 : : : 6.9 -4.3 0.9 23.3 -37.4 36.4 76.3 145.8 191.5 31.4 -25.0 -18.2 -17.148 : : : 1.8 18.5 22.2 -31.0 9.6 20.0 -3.3 3.4 17.7 10.1 -1.4 -1.9 4.3

48a : : : 281.0 97.0 99.0 -34.6 26.4 42.4 -12.1 17.5 12.1 26.1 18.4 3.2 17.649 : : : 3.7 -13.1 -1.8 8.2 1.5 -4.3 -7.0 -7.4 3.3 9.1 56.2 -3.5 -17.2

50=51+..+54 : : : 0.4 7.2 -4.3 6.6 40.4 9.7 9.6 17.9 30.1 28.5 6.5 -1.2 -2.751 : : : 24.4 279.6 311.1 -37.6 2.9 0.2 8.4 -5.8 14.9 -4.6 -0.6 2.6 3.752 : : : 1.7 7.0 -2.9 5.7 57.1 8.6 9.5 14.7 36.2 36.5 6.4 -2.3 -0.353 : : : 11.3 -14.8 -14.3 0.3 24.8 54.9 17.9 57.4 11.1 12.1 23.2 7.3 -18.654 : : : -7.9 17.2 -11.0 16.1 -0.2 -3.0 5.1 8.6 16.0 -5.8 -11.4 -2.0 -2.0

55=44-50 : : : 4.7 33.7 110.6 -64.9 -95.9 -727.2 217.7 143.0 50.0 54.0 17.0 16.9 0.556=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -10.3 -10.4 -7.9 -5.2 -4.9 -0.3 -6.7 -25.5 -16.3 -17.7 -8.5 -27.4 -8.1 -3.7 -2.4 0.1

58=64(t)-64(t-1) 16.9 6.4 8.4 3.4 6.8 -2.2 3.1 51.4 11.0 23.7 12.8 31.4 18.5 6.2 -1.0 0.359 = 57+58 = 60+..+63 6.6 -4.0 0.4 -1.8 1.8 -2.5 -3.6 25.9 -5.3 6.0 4.3 4.0 10.4 2.5 -3.5 0.4

60=23 4.2 -4.7 0.8 -1.8 3.0 -1.8 4.2 27.0 -6.7 5.9 4.8 4.3 11.5 2.9 -6.1 -2.5

61=(-)33 -0.5 0.8 -0.7 -0.1 0.0 -0.6 -4.7 0.0 0.7 -0.8 -0.6 -0.3 -1.0 -0.3 0.2 0.3

62 1.3 0.9 0.8 0.3 0.5 -0.3 -2.1 -1.1 0.4 0.9 -0.1 0.0 -0.3 -0.1 2.5 2.6

63 1.6 -1.0 -0.4 -0.2 -1.6 0.1 -1.0 -0.1 0.4 0.0 0.2 0.0 0.1 0.1 0.0 0.164=65+66+69 16.9 6.4 8.4 3.4 6.8 -2.2 3.1 51.4 11.0 23.7 12.8 31.4 18.5 6.2 -1.0 0.3

65 39.3 35.9 49.2 24.4 279.6 310.4 -37.5 2.8 0.3 8.1 -5.7 15.0 -4.6 -0.6 2.6 3.766=67+68 22.3 9.0 10.5 2.0 10.1 -2.9 4.7 55.2 7.1 24.6 7.4 35.3 19.7 3.8 -2.5 3.8

67 54.2 -13.9 25.2 -32.3 15.5 -55.0 -33.1 742.1 -96.7 13.2 2421.7 -16.4 50.5 -58.8 -17.3 30.368 20.5 10.6 9.7 4.1 9.9 -0.6 5.5 46.7 14.4 24.7 2.9 37.6 18.8 6.0 -2.3 3.5

69=70+71 -3.3 -5.8 -3.7 12.3 -15.5 -14.9 0.5 25.8 55.3 18.0 57.1 11.4 11.8 23.6 7.4 -18.670 -14.4 0.5 -90.8 794.7 -12.2 -84.1 404.5 -68.1 65.4 13.7 -4.0 31.1 277.6 565.4 -13.5 -74.071 -1.9 -6.5 6.6 4.3 -15.8 -8.6 -6.0 33.8 55.1 18.1 58.3 11.1 7.8 -4.6 15.0 -3.572 : : : : : : : : 216.2 198.9 19.6 4.2 -4.6 0.0 0.073 : : : : : : : :

74=45+46+48a : : : -6.0 23.3 29.1 8.8 76.6 -15.7 18.8 -1.3 -6.1 50.6 21.6 -12.9 -5.3

Table C - Memorandum items75 10.3 9.4 7.0 5.7 6.6 4.5 12.5 6.0 1.4 2.5 -3.2 -3.1 -1.1 2.9 5.5 3.276 9.5 9.4 9.3 6.3 8.0 7.9 9.7 7.9 6.1 5.8 5.3 1.4 1.4 3.5 1.6 2.0

77=20+18-7678 11.7 8.7 7.8 5.6 8.0 11.4 8.0 -4.7 0.2 1.8 -2.2 0.5 3.8 3.4 3.8 6.5

79 2.2 2.2 2.1 2.1 1.4 0.0 2.7 1.3 3.2 2.5 0.6 -1.2 0.0 0.0 1.2 1.8



Slovakia




2=3+4+5 Taxes 4,885 6,270 9,418 11,680 10,369 10,591 11,431 11,3913 . Indirect taxes 2,795 3,948 6,262 7,079 6,630 6,779 7,378 7,1634 . Direct taxes 2,088 2,314 3,155 4,601 3,739 3,812 4,053 4,2285 . Capital taxes 2 8 1 0 0 0 0 06 Social contributions 2,916 4,428 6,361 8,081 8,043 8,324 8,722 9,1087 Sales (incl . own account capital formation) 250 693 1,415 1,706 2,050 2,202 2,527 2,9308 Other current revenue 770 1,207 1,323 2,006 2,135 1,669 2,247 2,1749 Capital revenue 0 41 83 162 631 636 881 779

10=11+..+18 Total expenditure 9,479 16,440 20,053 25,298 28,224 28,480 28,828 29,53911 Intermediate consumption 1,544 1,924 2,586 3,314 3,899 3,872 3,985 4,00712 Compensation of employees 1,833 2,749 3,994 5,124 5,479 5,716 5,846 5,99113 Interest 456 1,264 853 892 916 877 1,079 1,28314 Subsidies 913 773 459 920 734 623 499 49115 Social benefits 2,790 4,994 8,611 11,147 12,335 13,234 13,214 13,744

15a of which other than transfers in kind 2,741 4,223 6,421 7,988 9,049 9,752 9,821 10,24216 Other current expenditure 221 644 1,027 1,039 1,184 1,113 1,034 1,13217 Capital transfers payable 504 2,965 757 631 1,108 468 543 40318 Capital investments 1,218 1,127 1,767 2,231 2,569 2,577 2,629 2,49019 of which, gross fixed capital formation 647 1,153 1,731 2,308 2,487 2,441 2,692 2,436

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -658 -3,800 -1,454 -1,663 -4,996 -5,058 -3,021 -3,159


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 28 -67 -1 -31 21 -6 78

22=23-29 Net financial transactions : -3,828 -1,387 -1,662 -4,965 -5,079 -3,015 -3,23723=24+..+28 Net acquisition of financial assets : -726 -3,249 -276 -836 6 -338 4,043

24 Currency and deposits : 111 -2,419 50 -1,134 -255 -918 2,88225 Debt securities : -53 -135 1 12 -4 -4 -526 Loans : -332 -505 29 83 45 262 1,38927 Shares and other equity : -750 -318 -146 127 -146 -239 16628 Other financial assets : 297 128 -211 75 366 561 -390

29=30+..+33 Net incurrence of liabilities : 3,101 -1,862 1,386 4,129 5,085 2,677 7,28030 Currency and deposits : 0 39 -9 -24 -12 30 -931 Debt securities : 999 -493 867 3,779 4,551 2,196 5,98132 Loans : 1,423 -1,375 89 -8 42 551 1,40933 Other liabilities : 680 -33 440 383 504 -100 -101


35=44(t)-44(t-1)-23 Other changes in financial assets : 109 -1,119 -483 1,058 225 -687 3,60736=50(t)-50(t-1)-29 Other changes in liabilities : 155 407 -180 -87 -249 580 -170

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -46 -1,526 -303 1,145 473 -1,267 3,777

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 14,159 14,206 12,656 12,878 13,108 12,083 19,73345 Currency and deposits : 1,785 2,939 3,817 2,623 2,385 1,499 4,57446 Debt securities : 194 172 297 366 209 209 20647 Loans : 6,488 1,679 1,315 1,168 1,281 1,478 2,86048 Shares and other equity : 3,949 5,995 4,826 6,054 6,103 5,079 8,428


50=51+..+54 Liabilities : 18,286 19,345 23,144 27,186 32,022 35,278 42,38851 Currency and deposits : 4 0 108 83 71 101 9352 Debt securities : 7,736 13,727 17,156 20,857 25,479 27,672 33,48653 Loans : 8,289 3,422 2,743 2,759 2,835 3,713 5,04154 Other liabilities : 2,258 2,196 3,138 3,487 3,636 3,793 3,768


Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -658 -3,800 -1,454 -1,663 -4,996 -5,058 -3,021 -3,159

58=64(t)-64(t-1) Change in Government Debt : : -1,534 514 3,743 4,605 3,005 7,07959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -2,988 -1,149 -1,253 -453 -16 3,920






67 .. short term : 1,128 193 741 941 1,269 1,137 1,31668 .. long term : 6,269 13,598 15,902 19,455 23,667 25,915 31,483

69=70+71 . Loans : 8,285 3,410 2,743 2,758 2,835 3,694 5,03370 .. short term : 23 198 254 283 326 310 11071 .. long term : 8,262 3,212 2,489 2,475 2,509 3,384 4,92472 Intergovernmental lending (asset)* : : : : 0 0 173 1,49473 Intergovernmental lending (borrowing)* : : : : 0 0 0 0


Table C - Memorandum items75 Government final consumption expenditure 4,000 6,116 9,246 12,086 12,907 13,236 13,262 13,22476 Consumption of fixed capital 822 1,346 1,855 2,159 2,259 2,328 2,515 2,595

77=20+18-76 Net savings and capital transfers -261 -4,018 -1,542 -1,591 -4,686 -4,809 -2,907 -3,26478 GDP 19,686 31,601 50,415 68,492 64,023 67,577 70,627 72,704




Slovakia




2=3+4+5 12,347 13,252 14,302 14,573 15,489 15,057 433 03 7,632 8,045 8,506 8,630 9,251 8,942 309 04 4,715 5,207 5,796 5,943 6,239 6,114 124 05 0 0 0 0 0 0 0 06 10,007 10,360 11,042 11,617 12,525 536 37 11,9517 3,233 3,290 3,482 3,551 3,647 2,629 985 338 2,147 2,063 2,914 1,594 1,483 -4,468 1,319 4,163 4699 985 962 1,916 528 299 -266 318 248 0

10=11+..+18 30,737 31,983 35,684 33,669 34,103 -4,735 20,755 5,872 12,21011 4,102 4,266 4,655 4,459 4,802 3,028 1,615 15912 6,356 6,694 7,050 7,401 7,804 4,699 2,955 15013 1,387 1,444 1,379 1,336 1,179 -6 1,163 22 014 574 520 464 376 363 166 197 015 14,098 14,501 14,960 15,520 15,715 3,845 65 11,805

15a 10,433 10,671 10,967 11,282 11,469 3,845 65 7,55816 1,287 1,332 1,561 1,427 1,307 -4,462 5,511 212 4717 380 385 559 344 173 -266 398 5 3618 2,553 2,842 5,056 2,806 2,760 1,945 802 1319 2,466 3,023 4,951 2,600 2,699 1,857 828 14

Government deficit

20=1-10 -2,017 -2,056 -2,027 -1,805 -659 -897 -5 243


21=20-22 92 -36 -86 -2 -39 -42 -9 12

22=23-29 -2,109 -2,020 -1,941 -1,803 -621 -855 4 23123=24+..+28 1,268 -1,428 -626 -295 601 -131 448 87 197

24 388 -2,210 539 628 594 -125 510 103 10625 1 -10 -37 0 -2 0 -5 3 126 456 112 -10 51 103 -6 100 1 827 -55 -197 -1,034 -205 -242 0 -243 1 028 479 877 -85 -769 148 0 87 -21 83

29=30+..+33 3,378 592 1,314 1,508 1,222 -131 1,304 83 -3430 17 -5 315 -112 -108 -125 17 0 031 1,788 886 274 762 1,137 0 1,135 2 032 1,081 -529 140 177 114 -6 72 48 033 491 239 585 682 78 0 79 33 -34


35=44(t)-44(t-1)-23 114 -639 1,104 -70 -428 0 -387 -41 036=50(t)-50(t-1)-29 -405 -15 -25 -188 -353 0 -347 -6 0

37=35-36 = 55(t)-55(t-1)-22 519 -623 1,129 117 -75 -40 -36 0

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 72,735 74,962 78,166 78,958 : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 21,115 19,048 19,527 19,161 19,334 -1,992 16,372 3,110 1,84545 4,965 2,836 3,534 4,187 4,778 -1,083 3,799 1,257 80646 20 50 20 16 12 0 8 4 047 3,297 3,578 3,590 3,545 3,628 -748 4,199 8 16948 8,546 8,392 8,007 7,699 7,340 -161 5,897 1,598 7

48a 0 0 0 0 0 : : :49 4,286 4,192 4,376 3,714 3,576 0 2,470 243 863

50=51+..+54 45,360 45,937 47,227 48,548 49,417 -1,992 47,330 2,339 1,74051 110 105 421 308 201 -1,083 1,284 0 052 34,997 36,161 36,643 37,472 38,298 0 38,289 9 053 6,155 5,452 5,678 5,862 5,983 -748 4,914 1,816 154 4,098 4,219 4,485 4,905 4,935 -161 2,844 514 1,739

55=44-50 -24,246 -26,889 -27,700 -29,386 -30,082 -30,958 771 10556=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -2,017 -2,056 -2,027 -1,805 -659 -897 -5 243

58=64(t)-64(t-1) 2,674 125 570 758 1,177 -131 1,262 46 059 = 57+58 = 60+..+63 657 -1,931 -1,457 -1,046 517 -131 365 40 243

60=23 : -1,428 -626 -295 601 -131 448 87 197

61=(-)33 : -239 -585 -682 -78 0 -79 -33 34

62 : -360 -471 -320 -163 0 -163 0 0

63 : 96 225 250 157 0 158 -13 1264=65+66+69 40,600 40,725 41,295 42,053 43,230 -1,831 43,244 1,816 1

65 110 105 421 308 201 -1,083 1,284 - -66=67+68 34,349 35,179 35,201 35,887 37,056 0 37,053 3 0

67 12 0 0 400 0 0 0 0 068 34,338 35,179 35,201 35,487 37,056 0 37,053 3 0

69=70+71 6,141 5,441 5,673 5,858 5,973 -748 4,907 1,813 170 678 183 217 114 174 0 114 59 171 5,463 5,258 5,456 5,745 5,799 -748 4,793 1,754 072 1,895 1,997 1,881 1,881 1,881 : : :73 0 0 0 0 0 : : :

74=45+46+48a 4,986 2,886 3,554 4,203 4,790 : : :

Table C - Memorandum items75 13,653 14,404 15,291 15,739 16,522 7,526 4,432 4,56476 2,707 2,865 3,015 3,137 3,249 2,377 831 41

77=20+18-76 -2,172 -2,080 14 -2,135 -1,149 -1,329 -35 21578 74,170 76,088 79,138 81,226 84,851

79 424 432 439 440 443

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Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.1 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 -0.1 0.0 0.0 0.0 0.0 0.0

22=23-29 Net financial transactions : -12.1 -2.8 -2.4 -7.8 -7.5 -4.3 -4.5 -2.8 -2.7 -2.5 -2.2 -0.7 -1.0 0.0 0.323=24+..+28 Net acquisition of financial assets : -2.3 -6.4 -0.4 -1.3 0.0 -0.5 5.6 1.7 -1.9 -0.8 -0.4 0.7 -0.2 0.5 0.1 0.2

24 Currency and deposits : 0.4 -4.8 0.1 -1.8 -0.4 -1.3 4.0 0.5 -2.9 0.7 0.8 0.7 -0.1 0.6 0.1 0.125 Debt securities : -0.2 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.026 Loans : -1.1 -1.0 0.0 0.1 0.1 0.4 1.9 0.6 0.1 0.0 0.1 0.1 0.0 0.1 0.0 0.027 Shares and other equity : -2.4 -0.6 -0.2 0.2 -0.2 -0.3 0.2 -0.1 -0.3 -1.3 -0.3 -0.3 0.0 -0.3 0.0 0.028 Other financial assets : 0.9 0.3 -0.3 0.1 0.5 0.8 -0.5 0.6 1.2 -0.1 -0.9 0.2 0.0 0.1 0.0 0.1

29=30+..+33 Net incurrence of liabilities : 9.8 -3.7 2.0 6.4 7.5 3.8 10.0 4.6 0.8 1.7 1.9 1.4 -0.2 1.5 0.1 0.030 Currency and deposits : 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.1 -0.1 -0.1 0.0 0.0 0.031 Debt securities : 3.2 -1.0 1.3 5.9 6.7 3.1 8.2 2.4 1.2 0.3 0.9 1.3 0.0 1.3 0.0 0.032 Loans : 4.5 -2.7 0.1 0.0 0.1 0.8 1.9 1.5 -0.7 0.2 0.2 0.1 0.0 0.1 0.1 0.033 Other liabilities : 2.2 -0.1 0.6 0.6 0.7 -0.1 -0.1 0.7 0.3 0.7 0.8 0.1 0.0 0.1 0.0 0.0


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.3 -2.2 -0.7 1.7 0.3 -1.0 5.0 0.2 -0.8 1.4 -0.1 -0.5 0.0 -0.5 0.0 0.036=50(t)-50(t-1)-29 Other changes in liabilities : 0.5 0.8 -0.3 -0.1 -0.4 0.8 -0.2 -0.5 0.0 0.0 -0.2 -0.4 0.0 -0.4 0.0 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -0.1 -3.0 -0.4 1.8 0.7 -1.8 5.2 0.7 -0.8 1.4 0.1 -0.1 0.0 0.0 0.0

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : 44.8 28.2 18.5 20.1 19.4 17.1 27.1 28.5 25.0 24.7 23.6 22.8 -2.3 19.3 3.7 2.245 Currency and deposits : 5.6 5.8 5.6 4.1 3.5 2.1 6.3 6.7 3.7 4.5 5.2 5.6 -1.3 4.5 1.5 0.946 Debt securities : 0.6 0.3 0.4 0.6 0.3 0.3 0.3 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.047 Loans : 20.5 3.3 1.9 1.8 1.9 2.1 3.9 4.4 4.7 4.5 4.4 4.3 -0.9 4.9 0.0 0.248 Shares and other equity : 12.5 11.9 7.0 9.5 9.0 7.2 11.6 11.5 11.0 10.1 9.5 8.7 -0.2 6.9 1.9 0.0


50=51+..+54 Liabilities : 57.9 38.4 33.8 42.5 47.4 50.0 58.3 61.2 60.4 59.7 59.8 58.2 -2.3 55.8 2.8 2.151 Currency and deposits : 0.0 0.0 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.5 0.4 0.2 -1.3 1.5 0.0 0.052 Debt securities : 24.5 27.2 25.0 32.6 37.7 39.2 46.1 47.2 47.5 46.3 46.1 45.1 0.0 45.1 0.0 0.053 Loans : 26.2 6.8 4.0 4.3 4.2 5.3 6.9 8.3 7.2 7.2 7.2 7.1 -0.9 5.8 2.1 0.054 Other liabilities : 7.1 4.4 4.6 5.4 5.4 5.4 5.2 5.5 5.5 5.7 6.0 5.8 -0.2 3.4 0.6 2.0

55=44-50 Financial net worth : -13.1 -10.2 -15.3 -22.3 -28.0 -32.8 -31.2 -32.7 -35.3 -35.0 -36.2 -35.5 -36.5 0.9 0.156=39-50=40+55 Net worth : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt : : -3.0 0.8 5.8 6.8 4.3 9.7 3.6 0.2 0.7 0.9 1.4 -0.2 1.5 0.1 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : -5.9 -1.7 -2.0 -0.7 0.0 5.4 0.9 -2.5 -1.8 -1.3 0.6 -0.2 0.4 0.0 0.3

60=23 Net acquisition of financial assets : : : : : : : : : -1.9 -0.8 -0.4 0.7 -0.2 0.5 0.1 0.2

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : -0.3 -0.7 -0.8 -0.1 0.0 -0.1 0.0 0.0

62Valuation effects and other changes in volume in government debt : : : : : : : : : -0.5 -0.6 -0.4 -0.2 0.0 -0.2 0.0 0.0

63 Statistical discrepancies : : : : : : : : : 0.1 0.3 0.3 0.2 0.0 0.2 0.0 0.064=65+66+69 Government debt (nominal / face value) : 49.6 34.1 28.5 36.3 41.2 43.7 52.2 54.7 53.5 52.2 51.8 50.9 -2.2 51.0 2.1 0.0






77=20+18-76 Net savings and capital transfers -1.3 -12.7 -3.1 -2.3 -7.3 -7.1 -4.1 -4.5 -2.9 -2.7 0.0 -2.6 -1.4 -1.6 0.0 0.378 GDP



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2=3+4+5 7.3 14.1 9.1 10.1 4.3 11.6 6.5 -11.2 2.1 7.9 -0.3 8.4 7.3 7.9 1.9 6.33 10.4 15.7 13.3 11.6 -0.3 10.9 2.2 -6.3 2.2 8.8 -2.9 6.5 5.4 5.7 1.5 7.24 2.4 11.5 1.9 7.3 13.5 12.9 13.8 -18.7 2.0 6.3 4.3 11.5 10.4 11.3 2.5 5.05 9.2 -14.2 -49.4 -85.7 -52.8 -62.4 0.0 -55.0 -55.6 -35.0 -7.7 -41.7 -42.9 -250.0 -166.7 -100.06 11.3 5.6 5.7 5.3 3.9 11.2 10.0 -0.5 3.5 4.8 4.4 9.9 3.5 6.6 5.2 7.87 18.4 17.1 -21.2 103.0 11.8 18.4 -8.9 20.2 7.4 14.7 15.9 10.4 1.8 5.8 2.0 2.78 -33.0 29.8 4.7 31.7 21.2 -25.3 67.7 6.4 -21.8 34.6 -3.3 -1.2 -3.9 41.3 -45.3 -7.09 20.5 -97.5 8432.7 17.0 111.8 72.2 -46.2 288.6 0.9 38.4 -11.6 26.5 -2.4 99.1 -72.4 -43.3

10=11+..+18 10.5 -1.8 5.5 15.0 8.8 5.0 10.4 11.6 0.9 1.2 2.5 4.1 4.1 11.6 -5.6 1.311 -1.7 11.6 2.4 9.4 29.5 -2.8 1.8 17.6 -0.7 2.9 0.5 2.4 4.0 9.1 -4.2 7.712 11.9 7.0 1.1 9.7 10.3 4.1 11.8 6.9 4.3 2.3 2.5 6.1 5.3 5.3 5.0 5.413 -3.5 -22.0 -3.3 -13.3 -5.0 8.2 1.8 2.8 -4.3 23.0 18.9 8.1 4.1 -4.4 -3.2 -11.714 -22.1 21.4 25.3 -45.6 13.9 1.1 74.1 -20.2 -15.1 -20.0 -1.6 17.0 -9.4 -10.8 -18.8 -3.715 11.5 3.1 14.8 19.4 8.2 10.0 8.7 10.6 7.3 -0.2 4.0 2.6 2.9 3.2 3.7 1.3

15a 9.8 -2.6 18.2 10.4 7.4 8.8 6.5 13.3 7.8 0.7 4.3 1.9 2.3 2.8 2.9 1.716 46.7 57.6 -28.4 31.1 -13.0 16.2 0.1 14.0 -6.0 -7.1 9.5 13.8 3.5 17.2 -8.6 -8.417 73.7 -79.3 -8.0 205.5 -39.7 -13.6 60.3 75.4 -57.8 16.0 -25.8 -5.7 1.5 45.1 -38.6 -49.618 5.4 -11.8 6.5 30.2 16.3 -3.4 12.4 15.2 0.3 2.0 -5.3 2.5 11.3 77.9 -44.5 -1.719 13.0 -14.1 3.6 27.7 23.7 -6.8 15.7 7.8 -1.8 10.3 -9.5 1.2 22.6 63.7 -47.5 3.8

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -23.0 0.0 3.7 -17.5 -9.4 4.3 -2.1 -6.6 0.0 -2.6 33.5 6.4 -6.8 -3.3 -1.5 3.1

24 157.1 8.1 4.8 -45.6 1.6 34.9 1.3 -29.7 -9.7 -38.5 192.2 8.5 -44.5 19.0 17.8 14.225 -39.8 -8.5 112.5 -57.9 -21.5 -5.8 0.5 4.0 -1.2 -2.1 -2.3 0.7 -50.5 -74.4 -1.9 -9.926 -23.0 -10.2 -1.1 -15.3 -7.0 -7.9 2.3 6.3 3.8 20.5 94.0 15.9 3.4 -0.3 1.4 2.927 -112.8 -3.5 -2.4 -5.7 -17.2 -4.4 -2.9 2.6 -2.4 -3.9 3.3 -0.7 -2.3 -12.3 -2.6 -3.128 -13.0 5.0 11.3 3.1 -5.8 -3.1 -7.3 3.1 13.7 17.9 -10.2 13.1 20.5 -2.0 -17.6 4.0

29=30+..+33 -3.3 6.2 8.9 -9.0 3.2 8.3 6.3 17.8 18.7 8.4 20.6 8.0 1.3 2.9 3.2 2.530 -100.0 69.3 -8.0 -22.4 -14.9 41.9 -8.4 18.0 -4.1 299.3 -26.7 -34.931 -2.0 13.2 10.1 -3.4 7.2 8.0 5.3 22.0 21.8 8.6 21.6 5.3 2.5 0.8 2.1 3.032 -2.6 -6.5 7.1 -32.4 -11.5 0.7 3.2 -0.3 1.5 19.4 37.9 21.5 -8.6 2.6 3.1 1.933 -8.8 -5.1 5.3 -1.5 -1.7 18.3 16.3 12.2 14.5 -2.8 -2.7 13.0 5.8 13.9 15.2 1.6


35=44(t)-44(t-1)-23 37.3 5.4 -6.1 -6.0 -4.7 5.6 -3.6 8.4 1.7 -5.2 29.8 0.6 -3.0 5.8 -0.4 -2.236=50(t)-50(t-1)-29 -1.9 0.7 -3.1 2.0 2.1 -0.6 -0.8 -0.4 -0.9 1.8 -0.5 -1.0 0.0 -0.1 -0.4 -0.7

37=35-36 = 55(t)-55(t-1)-22 -173.0 -241.0 84.3 68.6 20.8 -10.0 3.6 -10.9 -3.3 6.7 -16.3 -2.3 2.6 -4.2 -0.4 0.3

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 6.2 6.9 2.7 -0.6 3.8 3.0 5.5 3.5 1.0 7.1 0.3 4.8 3.1 4.3 1.0 :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 14.4 5.4 -2.4 -23.5 -14.1 9.9 -5.7 1.7 1.8 -7.8 63.3 7.0 -9.8 2.5 -1.9 0.945 159.2 7.2 -3.0 -44.6 -7.2 46.1 -4.3 -31.3 -9.1 -37.1 205.1 8.6 -42.9 24.6 18.5 14.146 -36.6 -2.7 112.4 -26.2 -21.7 119.6 0.5 23.2 -42.8 0.1 -1.3 -90.1 144.4 -59.9 -21.0 -21.547 -31.1 -19.7 8.5 -49.0 -16.8 -7.9 2.3 -11.1 9.7 15.3 93.5 15.3 8.5 0.3 -1.2 2.348 26.5 11.2 -7.8 6.6 -12.0 -5.7 -2.9 25.4 0.8 -16.8 66.0 1.4 -1.8 -4.6 -3.8 -4.7

48a49 -6.5 20.8 -4.6 -16.9 -21.9 7.5 -16.5 11.1 17.3 22.0 -4.0 17.0 -2.2 4.4 -15.1 -3.7

50=51+..+54 -5.2 6.9 5.7 -7.0 5.3 7.7 5.5 17.5 17.8 10.2 20.2 7.0 1.3 2.8 2.8 1.851 -100.0 69.3 -8.0 -22.4 -14.9 41.9 -7.5 18.0 -4.1 299.3 -26.7 -34.952 -1.5 13.1 8.6 -4.1 11.0 7.5 4.7 21.6 22.2 8.6 21.0 4.5 3.3 1.3 2.3 2.253 -11.8 -3.5 4.5 -19.3 -16.9 -3.8 0.3 0.6 2.8 30.9 35.8 22.1 -11.4 4.1 3.3 2.154 -8.8 -4.5 -7.5 -2.4 1.3 21.2 16.4 11.1 4.3 4.3 -0.7 8.8 2.9 6.3 9.4 0.6

55=44-50 -90.4 81.9 249.8 130.9 59.0 4.3 23.1 36.4 32.2 22.6 -2.3 7.0 10.9 3.0 6.1 2.456=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) -3.5 7.7 8.8 -8.2 1.3 8.9 2.7 19.2 19.8 10.8 22.9 7.1 0.3 1.4 1.8 2.859 = 57+58 = 60+..+63 -21.7 0.7 2.6 -15.9 -10.4 1.8 -6.1 -6.4 -1.9 -0.1 12.7 1.7 -4.8 -3.6 -2.5 1.2

60=23 : : : : : : : : : : : : -3.5 -1.5 -0.7 1.4

61=(-)33 : : : : : : : : : : : : -0.6 -1.4 -1.7 -0.2

62 : : : : : : : : : : : : -0.9 -1.2 -0.8 -0.4

63 : : : : : : : : : : : : 0.2 0.6 0.6 0.464=65+66+69 -3.5 7.7 8.8 -8.2 1.3 8.9 2.7 19.2 19.8 10.8 22.9 7.1 0.3 1.4 1.8 2.8

65 69.3 -8.0 -22.4 -14.9 41.9 -7.5 18.0 -4.1 299.3 -26.7 -34.966=67+68 -0.2 11.8 10.2 -5.0 5.3 11.1 3.1 22.5 22.3 8.5 21.2 4.7 2.4 0.1 1.9 3.3

67 -4.6 1.8 -43.3 -85.0 -100.0 26.9 34.9 -10.4 15.7 -99.1 -99.7 -100.0 -100.068 0.9 14.1 21.4 2.8 6.8 11.1 -1.5 22.3 21.7 9.5 21.5 9.1 2.4 0.1 0.8 4.4

69=70+71 -11.7 -3.7 4.2 -19.1 -16.6 -4.1 0.6 0.6 2.8 30.3 36.3 22.0 -11.4 4.3 3.3 2.070 -7.1 -18.7 744.6 -52.4 -84.6 222.9 157.2 11.6 15.3 -5.0 -64.6 517.9 -73.0 18.7 -47.7 53.271 -11.8 -3.4 -5.0 -15.4 -12.5 -6.6 -5.3 -0.6 1.4 34.9 45.5 11.0 -3.7 3.8 5.3 0.972 : : : : : : : : 765.5 26.8 5.4 -5.8 0.0 0.073 : : : : : : : :

74=45+46+48a 143.0 7.0 -0.8 -43.8 -8.0 49.6 -3.9 -27.4 -13.2 -34.2 179.8 4.3 -42.1 23.2 18.2 14.0

Table C - Memorandum items75 7.2 12.6 3.6 8.4 14.6 2.4 11.3 6.8 2.5 0.2 -0.3 3.2 5.5 6.2 2.9 5.076 8.3 9.4 4.9 3.4 5.0 3.5 7.1 4.6 3.1 8.0 3.2 4.3 5.8 5.2 4.0 3.6

77=20+18-7678 8.7 11.1 11.3 9.4 11.6 12.1 8.6 -6.5 5.6 4.5 2.9 2.0 2.6 4.0 2.6 4.5

79 -2.6 -3.3 -2.1 -3.3 2.4 0.0 -0.2 -1.2 0.7 2.1 -1.2 0.2 1.9 1.6 0.2 0.7



Finland




2=3+4+5 Taxes 30,163 46,540 50,197 57,282 51,895 53,515 58,784 59,8233 . Indirect taxes 13,418 18,285 21,886 24,061 23,378 24,226 27,180 28,1354 . Direct taxes 16,578 27,887 27,825 32,570 28,077 28,902 31,209 31,1795 . Capital taxes 167 368 486 651 440 387 395 5096 Social contributions 14,106 16,022 19,108 22,559 22,275 22,902 24,037 25,5287 Sales (incl . own account capital formation) 5,691 7,184 9,735 11,984 12,631 13,697 14,378 14,8968 Other current revenue 4,355 4,894 6,072 9,498 7,563 7,135 7,547 7,5109 Capital revenue 13 126 153 258 187 314 264 172


15a of which other than transfers in kind 20,992 21,340 25,889 28,421 31,228 32,677 33,876 36,07716 Other current expenditure 2,372 3,365 4,195 4,775 5,096 5,338 5,643 5,65117 Capital transfers payable 2,704 490 642 690 780 657 675 60818 Capital investments 3,787 4,806 5,876 6,888 7,175 6,885 7,483 8,06619 of which, gross fixed capital formation 3,652 4,807 6,006 6,958 7,158 6,864 7,478 8,073

Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : 747 832 22 179 605 -71 206

22=23-29 Net financial transactions : 8,594 3,431 8,076 -4,756 -5,488 -1,985 -4,56823=24+..+28 Net acquisition of financial assets : 9,442 1,587 8,384 9,592 6,541 4,430 6,992

24 Currency and deposits : 1,216 -487 765 -1,559 4,953 2,502 -2,21525 Debt securities : 6,681 1,883 3,484 3,593 -7,410 1,738 -1,00726 Loans : -340 336 3,498 2,681 893 -648 3,48927 Shares and other equity : -84 766 414 6,024 6,751 584 6,51228 Other financial assets : 1,968 -912 223 -1,147 1,353 254 213

29=30+..+33 Net incurrence of liabilities : 848 -1,844 308 14,348 12,029 6,415 11,56030 Currency and deposits : 11 55 27 43 -43 106 -21231 Debt securities : 235 -2,354 -1,388 11,083 12,108 3,868 6,53732 Loans : 252 189 1,091 1,135 691 2,484 4,06233 Other liabilities : 350 266 578 2,087 -727 -43 1,173


35=44(t)-44(t-1)-23 Other changes in financial assets : -27,675 17,400 -41,283 16,073 15,992 -16,164 10,89836=50(t)-50(t-1)-29 Other changes in liabilities : 1,314 -350 120 134 2,928 1,340 3,610

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -28,989 17,750 -41,403 15,939 13,064 -17,504 7,288

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 64,822 74,016 85,481 103,187 103,401 102,857 107,942 113,92342 Other produced assets 768 755 837 1,939 1,716 1,915 1,970 1,95443 Non-produced assets : : : : : : : :


48a of which, Investment fund shares : 470 17,727 25,266 33,069 43,810 42,147 50,20249 Other financial assets : 8,447 7,547 10,623 8,527 11,120 10,982 11,746

50=51+..+54 Liabilities : 69,379 76,345 75,184 89,666 104,623 112,378 127,54851 Currency and deposits : 253 354 444 704 661 767 55552 Debt securities : 56,226 57,728 53,067 64,396 77,183 83,630 92,54553 Loans : 6,522 11,318 12,336 13,471 14,664 18,264 24,19754 Other liabilities : 6,378 6,945 9,337 11,095 12,115 9,717 10,251



58=64(t)-64(t-1) Change in Government Debt : : -1,938 -171 12,228 12,678 7,330 12,21859 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 2,325 7,927 7,651 7,795 5,274 7,856







69=70+71 . Loans : 6,435 11,300 12,336 13,469 14,669 18,258 24,19370 .. short term : 198 1,737 1,120 1,858 2,003 3,127 6,19471 .. long term : 6,237 9,563 11,216 11,611 12,666 15,131 17,99972 Intergovernmental lending (asset)* : : : : 0 392 1,316 3,70873 Intergovernmental lending (borrowing)* : : : : 645 0 0 0



77=20+18-76 Net savings and capital transfers -5,257 10,017 5,151 9,044 -3,441 -4,170 -1,105 -3,17978 GDP 98,556 136,261 164,387 193,711 181,029 187,100 196,869 199,793




Finland




2=3+4+5 62,889 63,845 65,121 67,209 69,649 46,882 22,767 03 29,306 29,556 29,670 31,084 31,525 31,524 1 -4 32,937 33,790 34,820 35,603 37,215 14,449 22,766 -5 646 499 631 522 909 909 - -6 25,902 26,288 26,942 27,949 27,305 - 14 27,2917 15,334 15,430 14,662 14,803 15,026 3,958 10,233 8358 7,286 7,086 7,095 7,011 7,126 -31,296 4,480 15,208 18,7349 196 153 157 127 159 -100 155 103 1

10=11+..+18 116,922 119,399 119,759 120,826 120,807 -31,396 59,432 48,624 44,14711 23,438 23,626 23,087 23,695 23,984 6,600 16,225 1,15912 29,128 29,166 29,055 28,714 28,040 6,392 21,025 62313 2,560 2,492 2,448 2,336 2,228 -31 2,099 121 3914 2,697 2,689 2,832 2,673 2,681 2,237 444 -15 43,928 45,885 47,467 48,387 49,005 4,681 4,504 39,820

15a 38,442 40,267 41,568 42,246 42,711 4,369 778 37,56416 6,127 6,235 5,950 5,810 5,514 -31,265 32,864 1,416 2,49917 641 654 926 785 516 -100 609 7 018 8,403 8,652 7,994 8,426 8,839 3,950 4,882 719 8,440 8,592 8,151 8,850 9,141 4,070 5,064 7

Government deficit

20=1-10 -5,315 -6,597 -5,782 -3,727 -1,542 -3,957 -299 2,714


21=20-22 -501 527 20 19 124 -68 -256 448

22=23-29 -4,814 -7,124 -5,802 -3,746 -1,666 -3,889 -43 2,26623=24+..+28 4,302 529 2,831 -313 8,621 -659 -1,668 466 10,482

24 -1,578 -1,649 5,501 -1,282 2,875 0 -720 379 3,21625 2,615 -1,170 99 -2,607 -1,552 -754 47 -12 -83326 911 -1,016 -450 -1,145 -2,436 44 -1,431 -141 -90827 4,963 1,729 -2,466 5,244 5,256 0 -144 249 5,15128 -2,609 2,635 147 -523 4,478 51 580 -9 3,856

29=30+..+33 9,116 7,653 8,633 3,433 10,287 -659 2,221 509 8,21630 59 138 79 43 34 0 34 0 031 5,758 7,288 5,373 2,129 1,925 -754 3,021 -262 -8032 1,353 2,007 2,838 316 -859 44 -1,840 411 52633 1,946 -1,782 343 945 9,187 51 1,006 360 7,770


35=44(t)-44(t-1)-23 8,423 16,861 8,601 10,530 9,654 23 4,232 572 4,82736=50(t)-50(t-1)-29 -4,173 6,672 716 3,408 -8,061 23 -2,699 -440 -4,945

37=35-36 = 55(t)-55(t-1)-22 12,596 10,189 7,885 7,122 17,715 6,931 1,012 9,772

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 117,684 120,192 120,520 123,096 126,401 : : :42 2,036 2,042 2,041 2,040 2,068 : : :43 : : : : : : : :

44=45+..+49 239,056 256,446 267,878 278,095 296,370 -3,318 63,997 26,049 209,64245 14,743 13,097 18,910 17,636 20,511 0 3,681 4,317 12,51346 42,507 43,598 44,170 42,326 39,890 -1,633 882 318 40,32347 31,224 31,351 30,918 29,776 27,304 -627 15,306 6,293 6,33248 141,612 156,736 162,249 177,312 192,656 0 41,239 12,027 139,390

48a 57,250 68,388 74,377 98,139 106,788 : : :49 8,970 11,664 11,631 11,045 16,009 -1,058 2,889 3,094 11,084

50=51+..+54 132,491 146,816 156,165 163,006 165,232 -3,318 128,325 28,832 11,39351 614 752 831 874 908 0 908 0 052 94,004 107,820 113,264 116,911 114,833 -1,633 113,121 2,451 89453 25,550 27,558 30,336 30,652 29,792 -627 11,188 17,349 1,88254 12,323 10,686 11,734 14,569 19,699 -1,058 3,108 9,032 8,617

55=44-50 106,565 109,630 111,713 115,089 131,138 -64,328 -2,783 198,24956=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -5,315 -6,597 -5,782 -3,727 -1,542 -3,957 -299 2,714

58=64(t)-64(t-1) 7,093 8,895 9,510 2,944 1,128 -704 1,239 142 45159 = 57+58 = 60+..+63 1,778 2,298 3,728 -783 -414 -704 -2,718 -157 3,165

60=23 : 529 2,831 -313 8,621 -659 -1,668 466 10,482

61=(-)33 : 1,782 -343 -945 -9,187 -51 -1,006 -360 -7,770

62 : -285 1,000 141 -54 -12 -35 -7 0

63 : 272 240 334 206 18 -9 -256 45364=65+66+69 114,801 123,696 133,206 136,150 137,278 -2,251 116,996 19,767 2,766

65 614 752 831 874 908 0 908 0 066=67+68 88,640 95,418 102,071 104,656 106,611 -1,624 104,902 2,449 884

67 5,322 6,140 7,339 5,448 8,694 -49 6,957 1,786 068 83,318 89,278 94,732 99,208 97,917 -1,575 97,945 663 884

69=70+71 25,547 27,526 30,304 30,620 29,759 -627 11,186 17,318 1,88270 4,375 4,379 6,419 5,467 4,678 0 2,315 484 1,87971 21,172 23,147 23,885 25,153 25,081 -627 8,871 16,834 372 4,432 4,617 4,407 4,407 4,407 : : :73 0 0 0 0 0 : : :

74=45+46+48a 114,500 125,083 137,457 158,101 167,189 : : :


77=20+18-76 -4,079 -5,211 -5,110 -2,766 -322 -4,106 1,176 2,60878 203,338 205,474 209,604 216,111 223,843

79 633 626 619 614 618

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Finland




2=3+4+5 Taxes 30.6 34.2 30.5 29.6 28.7 28.6 29.9 29.9 30.9 31.1 31.1 31.1 31.1 20.9 10.2 0.03 . Indirect taxes 13.6 13.4 13.3 12.4 12.9 12.9 13.8 14.1 14.4 14.4 14.2 14.4 14.1 14.1 0.0 -4 . Direct taxes 16.8 20.5 16.9 16.8 15.5 15.4 15.9 15.6 16.2 16.4 16.6 16.5 16.6 6.5 10.2 -5 . Capital taxes 0.2 0.3 0.3 0.3 0.2 0.2 0.2 0.3 0.3 0.2 0.3 0.2 0.4 0.4 - -6 Social contributions 14.3 11.8 11.6 11.6 12.3 12.2 12.2 12.8 12.7 12.8 12.9 12.9 12.2 - 0.0 12.27 Sales (incl. own account capital formation) 5.8 5.3 5.9 6.2 7.0 7.3 7.3 7.5 7.5 7.5 7.0 6.8 6.7 1.8 4.6 0.48 Other current revenue 4.4 3.6 3.7 4.9 4.2 3.8 3.8 3.8 3.6 3.4 3.4 3.2 3.2 -14.0 2.0 6.8 8.49 Capital revenue 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.0 0.0


15a of which other than transfers in kind 21.3 15.7 15.7 14.7 17.3 17.5 17.2 18.1 18.9 19.6 19.8 19.5 19.1 2.0 0.3 16.816 Other current expenditure 2.4 2.5 2.6 2.5 2.8 2.9 2.9 2.8 3.0 3.0 2.8 2.7 2.5 -14.0 14.7 0.6 1.117 Capital transfers payable 2.7 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.4 0.4 0.2 0.0 0.3 0.0 0.018 Capital investments 3.8 3.5 3.6 3.6 4.0 3.7 3.8 4.0 4.1 4.2 3.8 3.9 3.9 1.8 2.2 0.019 of which, gross fixed capital formation 3.7 3.5 3.7 3.6 4.0 3.7 3.8 4.0 4.2 4.2 3.9 4.1 4.1 1.8 2.3 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -5.9 6.9 2.6 4.2 -2.5 -2.6 -1.0 -2.2 -2.6 -3.2 -2.8 -1.7 -0.7 -1.8 -0.1 1.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 0.5 0.5 0.0 0.1 0.3 0.0 0.1 -0.2 0.3 0.0 0.0 0.1 0.0 -0.1 0.2

22=23-29 Net financial transactions : 6.3 2.1 4.2 -2.6 -2.9 -1.0 -2.3 -2.4 -3.5 -2.8 -1.7 -0.7 -1.7 0.0 1.023=24+..+28 Net acquisition of financial assets : 6.9 1.0 4.3 5.3 3.5 2.3 3.5 2.1 0.3 1.4 -0.1 3.9 -0.3 -0.7 0.2 4.7

24 Currency and deposits : 0.9 -0.3 0.4 -0.9 2.6 1.3 -1.1 -0.8 -0.8 2.6 -0.6 1.3 0.0 -0.3 0.2 1.425 Debt securities : 4.9 1.1 1.8 2.0 -4.0 0.9 -0.5 1.3 -0.6 0.0 -1.2 -0.7 -0.3 0.0 0.0 -0.426 Loans : -0.2 0.2 1.8 1.5 0.5 -0.3 1.7 0.4 -0.5 -0.2 -0.5 -1.1 0.0 -0.6 -0.1 -0.427 Shares and other equity : -0.1 0.5 0.2 3.3 3.6 0.3 3.3 2.4 0.8 -1.2 2.4 2.3 0.0 -0.1 0.1 2.328 Other financial assets : 1.4 -0.6 0.1 -0.6 0.7 0.1 0.1 -1.3 1.3 0.1 -0.2 2.0 0.0 0.3 0.0 1.7

29=30+..+33 Net incurrence of liabilities : 0.6 -1.1 0.2 7.9 6.4 3.3 5.8 4.5 3.7 4.1 1.6 4.6 -0.3 1.0 0.2 3.730 Currency and deposits : 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.031 Debt securities : 0.2 -1.4 -0.7 6.1 6.5 2.0 3.3 2.8 3.5 2.6 1.0 0.9 -0.3 1.3 -0.1 0.032 Loans : 0.2 0.1 0.6 0.6 0.4 1.3 2.0 0.7 1.0 1.4 0.1 -0.4 0.0 -0.8 0.2 0.233 Other liabilities : 0.3 0.2 0.3 1.2 -0.4 0.0 0.6 1.0 -0.9 0.2 0.4 4.1 0.0 0.4 0.2 3.5


35=44(t)-44(t-1)-23 Other changes in financial assets : -20.3 10.6 -21.3 8.9 8.5 -8.2 5.5 4.1 8.2 4.1 4.9 4.3 0.0 1.9 0.3 2.236=50(t)-50(t-1)-29 Other changes in liabilities : 1.0 -0.2 0.1 0.1 1.6 0.7 1.8 -2.1 3.2 0.3 1.6 -3.6 0.0 -1.2 -0.2 -2.2

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -21.3 10.8 -21.4 8.8 7.0 -8.9 3.6 6.2 5.0 3.8 3.3 7.9 3.1 0.5 4.4

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 65.8 54.3 52.0 53.3 57.1 55.0 54.8 57.0 57.9 58.5 57.5 57.0 56.5 : : :42 Other produced assets 0.8 0.6 0.5 1.0 0.9 1.0 1.0 1.0 1.0 1.0 1.0 0.9 0.9 : : :43 Non-produced assets : : : : : : : : : : : : : : : :

44=45+..+49 Financial assets : 81.0 102.5 88.8 109.2 117.7 105.9 113.3 117.6 124.8 127.8 128.7 132.4 -1.5 28.6 11.6 93.745 Currency and deposits : 3.8 5.7 6.2 5.8 8.3 9.1 8.2 7.3 6.4 9.0 8.2 9.2 0.0 1.6 1.9 5.646 Debt securities : 18.7 27.1 21.9 26.0 21.0 20.8 21.1 20.9 21.2 21.1 19.6 17.8 -0.7 0.4 0.1 18.047 Loans : 15.5 11.9 12.3 14.7 14.7 13.4 15.2 15.4 15.3 14.8 13.8 12.2 -0.3 6.8 2.8 2.848 Shares and other equity : 36.7 53.2 42.9 58.0 67.8 56.9 63.0 69.6 76.3 77.4 82.0 86.1 0.0 18.4 5.4 62.3


50=51+..+54 Liabilities : 50.9 46.4 38.8 49.5 55.9 57.1 63.8 65.2 71.5 74.5 75.4 73.8 -1.5 57.3 12.9 5.151 Currency and deposits : 0.2 0.2 0.2 0.4 0.4 0.4 0.3 0.3 0.4 0.4 0.4 0.4 0.0 0.4 0.0 0.052 Debt securities : 41.3 35.1 27.4 35.6 41.3 42.5 46.3 46.2 52.5 54.0 54.1 51.3 -0.7 50.5 1.1 0.453 Loans : 4.8 6.9 6.4 7.4 7.8 9.3 12.1 12.6 13.4 14.5 14.2 13.3 -0.3 5.0 7.8 0.854 Other liabilities : 4.7 4.2 4.8 6.1 6.5 4.9 5.1 6.1 5.2 5.6 6.7 8.8 -0.5 1.4 4.0 3.8

55=44-50 Financial net worth : 30.1 56.0 50.0 59.6 61.8 48.8 49.4 52.4 53.4 53.3 53.3 58.6 -28.7 -1.2 88.656=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -5.9 6.9 2.6 4.2 -2.5 -2.6 -1.0 -2.2 -2.6 -3.2 -2.8 -1.7 -0.7 -1.8 -0.1 1.2

58=64(t)-64(t-1) Change in Government Debt : : -1.2 -0.1 6.8 6.8 3.7 6.1 3.5 4.3 4.5 1.4 0.5 -0.3 0.6 0.1 0.259 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : 1.4 4.1 4.2 4.2 2.7 3.9 0.9 1.1 1.8 -0.4 -0.2 -0.3 -1.2 -0.1 1.4

60=23 Net acquisition of financial assets : : : : : : : : : 0.3 1.4 -0.1 3.9 -0.3 -0.7 0.2 4.7

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : 0.9 -0.2 -0.4 -4.1 0.0 -0.4 -0.2 -3.5

62Valuation effects and other changes in volume in government debt : : : : : : : : : -0.1 0.5 0.1 0.0 0.0 0.0 0.0 0.0

63 Statistical discrepancies : : : : : : : : : 0.1 0.1 0.2 0.1 0.0 0.0 -0.1 0.264=65+66+69 Government debt (nominal / face value) : 42.5 40.0 32.7 41.7 47.1 48.5 53.9 56.5 60.2 63.6 63.0 61.3 -1.0 52.3 8.8 1.2

65 . Currency and deposits : 0.2 0.2 0.2 0.4 0.4 0.4 0.3 0.3 0.4 0.4 0.4 0.4 0.0 0.4 0.0 0.066=67+68 . Debt securities : 37.6 32.9 26.1 33.9 38.9 38.8 41.5 43.6 46.4 48.7 48.4 47.6 -0.7 46.9 1.1 0.4





77=20+18-76 Net savings and capital transfers -5.3 7.4 3.1 4.7 -1.9 -2.2 -0.6 -1.6 -2.0 -2.5 -2.4 -1.3 -0.1 -1.8 0.5 1.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Finland




2=3+4+5 3.7 -0.3 3.0 3.7 4.2 6.8 2.5 -9.4 3.1 9.8 1.8 5.1 1.5 2.0 3.2 3.63 5.3 5.5 1.4 4.3 4.4 3.4 1.8 -2.8 3.6 12.2 3.5 4.2 0.9 0.4 4.8 1.44 2.3 -4.3 4.0 3.3 4.1 9.7 2.5 -13.8 2.9 8.0 -0.1 5.6 2.6 3.0 2.2 4.55 17.4 -9.1 14.8 3.0 3.9 -9.1 41.8 -32.4 -12.0 2.1 28.9 26.9 -22.8 26.5 -17.3 74.16 1.5 0.6 3.5 6.2 7.3 5.4 4.4 -1.3 2.8 5.0 6.2 1.5 1.5 2.5 3.7 -2.37 8.8 7.0 5.7 6.3 5.6 6.1 9.9 5.4 8.4 5.0 3.6 2.9 0.6 -5.0 1.0 1.58 -3.0 0.0 10.9 2.0 14.6 19.8 14.0 -20.4 -5.7 5.8 -0.5 -3.0 -2.7 0.1 -1.2 1.69 13.4 5.9 0.0 -5.0 15.7 -3.4 50.9 -27.5 67.9 -15.9 -34.8 14.0 -21.9 2.6 -19.1 25.2

10=11+..+18 5.2 4.0 4.4 3.7 3.0 4.6 7.1 6.0 3.3 4.5 4.9 4.1 2.1 0.3 0.9 0.011 9.6 5.6 6.5 5.5 6.6 7.6 10.5 7.1 5.0 4.3 5.0 4.2 0.8 -2.3 2.6 1.212 5.6 4.4 4.2 4.5 3.2 4.0 6.3 3.4 2.5 3.8 4.1 2.0 0.1 -0.4 -1.2 -2.313 -18.4 -8.6 -2.5 -1.2 -2.7 2.7 2.4 -11.0 3.4 9.9 3.5 -9.9 -2.7 -1.8 -4.6 -4.614 0.5 0.5 0.0 2.9 8.7 2.8 6.2 0.6 7.0 2.8 0.6 -1.6 -0.3 5.3 -5.6 0.315 6.4 4.6 4.2 3.2 2.8 2.8 5.8 9.4 4.5 4.0 6.2 6.3 4.5 3.4 1.9 1.3

15a 6.1 3.9 3.5 2.8 2.2 2.3 5.0 9.9 4.6 3.7 6.5 6.6 4.7 3.2 1.6 1.116 3.1 9.1 2.1 7.8 5.1 1.9 6.3 6.7 4.7 5.7 0.1 8.4 1.8 -4.6 -2.4 -5.117 0.2 -23.2 2.7 40.2 -16.7 10.8 16.4 13.0 -15.8 2.7 -9.9 5.4 2.0 41.6 -15.2 -34.318 10.0 4.1 8.1 -4.4 -3.9 12.1 8.9 4.2 -4.0 8.7 7.8 4.2 3.0 -7.6 5.4 4.919 11.2 6.8 6.3 -3.1 -2.8 10.9 7.4 2.9 -4.1 8.9 8.0 4.5 1.8 -5.1 8.6 3.3

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 5.7 7.7 5.4 1.1 4.0 4.5 4.1 5.6 3.3 2.0 3.4 1.9 0.2 1.1 -0.1 3.1

24 27.0 89.4 15.8 -5.0 13.8 6.1 6.8 -12.9 47.2 16.2 -12.3 -9.7 -11.2 42.0 -6.8 16.325 10.4 3.1 14.4 4.5 -0.3 -2.7 8.4 8.5 -15.8 4.4 -2.5 6.2 -2.8 0.2 -5.9 -3.726 0.6 -2.0 -3.3 1.8 3.5 0.4 17.2 11.3 3.4 -2.4 13.2 3.0 -3.3 -1.4 -3.7 -8.227 3.5 8.6 1.9 1.1 5.5 7.6 0.3 7.3 6.4 0.5 5.8 3.9 1.2 -1.6 3.2 3.028 4.8 -0.6 1.9 -11.0 1.1 10.6 1.9 -10.8 15.9 2.3 1.9 -22.2 29.4 1.3 -4.5 40.5

29=30+..+33 1.2 7.8 4.2 -2.3 0.1 -0.9 0.4 19.1 13.4 6.1 10.3 7.1 5.8 5.9 2.2 6.330 12.4 11.9 13.3 18.4 9.3 7.8 6.5 9.7 -6.1 16.0 -27.6 10.6 22.5 10.5 5.2 3.931 -0.5 3.0 5.1 -3.9 1.2 -4.4 -2.6 20.9 18.8 5.0 7.8 6.2 7.8 5.0 1.9 1.632 11.5 44.2 -2.2 1.7 -6.0 5.8 9.7 9.2 5.1 16.9 22.2 5.6 7.9 10.3 1.0 -2.833 5.0 4.7 7.0 3.6 0.7 12.8 5.6 22.4 -6.6 -0.4 12.1 19.0 -14.5 3.2 8.1 63.1


35=44(t)-44(t-1)-23 -3.6 5.0 8.9 11.6 9.2 2.9 -20.2 9.3 8.1 -7.3 5.2 3.7 7.1 3.4 3.9 3.536=50(t)-50(t-1)-29 1.0 -2.4 0.5 -0.4 -0.8 -0.5 0.2 0.2 3.3 1.3 3.2 -3.3 5.0 0.5 2.2 -4.9

37=35-36 = 55(t)-55(t-1)-22 -10.8 16.8 20.1 25.0 17.4 5.2 -31.8 16.5 12.1 -15.1 7.6 12.8 9.6 7.2 6.4 15.4

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 1.0 0.2 4.1 5.6 5.1 7.0 7.3 0.2 -0.5 4.9 5.5 3.3 2.1 0.3 2.1 2.742 -4.0 -3.7 12.9 -1.6 -11.6 43.6 82.4 -11.5 11.6 2.9 -0.8 4.2 0.3 0.0 0.0 1.443 : : : : : : : : : : : : : : : :

44=45+..+49 2.1 12.7 14.3 12.7 13.2 7.5 -16.1 14.9 11.4 -5.3 8.6 5.6 7.3 4.5 3.8 6.645 26.9 79.2 15.8 -4.2 11.9 7.7 6.9 -12.9 47.6 16.4 -9.2 -9.8 -11.2 44.4 -6.7 16.346 12.5 2.3 18.9 6.3 -2.2 -4.7 2.2 10.9 -16.5 4.5 2.7 0.9 2.6 1.3 -4.2 -5.847 1.3 -5.9 -2.3 1.9 3.5 0.4 17.2 11.5 3.4 -3.7 14.5 3.0 0.4 -1.4 -3.7 -8.348 -4.5 24.0 18.3 24.4 22.2 12.4 -30.9 26.4 20.8 -11.7 12.4 12.6 10.7 3.5 9.3 8.7

48a 25.6 53.7 56.2 63.0 53.5 28.1 -27.5 30.9 32.5 -3.8 19.1 14.0 19.5 8.8 31.9 8.849 -5.2 -0.4 2.9 -9.3 26.3 21.9 -8.6 -19.7 30.4 -1.2 7.0 -23.6 30.0 -0.3 -5.0 44.9

50=51+..+54 2.2 5.3 4.7 -2.8 -0.7 -1.4 0.6 19.3 16.7 7.4 13.5 3.9 10.8 6.4 4.4 1.451 12.4 11.9 13.3 18.4 9.3 7.8 6.5 58.6 -6.1 16.0 -27.6 10.6 22.5 10.5 5.2 3.952 0.8 -0.8 6.5 -3.4 -2.7 -6.1 0.6 21.3 19.9 8.4 10.7 1.6 14.7 5.0 3.2 -1.853 11.5 43.4 -2.3 1.7 -6.0 5.8 9.7 9.2 8.9 24.5 32.5 5.6 7.9 10.1 1.0 -2.854 3.9 11.2 1.6 -5.6 24.4 19.5 -9.6 18.8 9.2 -19.8 5.5 20.2 -13.3 9.8 24.2 35.2

55=44-50 2.0 24.5 27.1 29.9 24.7 13.3 -25.6 11.6 7.0 -16.9 2.8 7.9 2.9 1.9 3.0 13.956=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 10.2 6.2 5.4 6.3 10.3 14.5 12.8 -7.2 -6.5 -2.3 -4.6 -4.9 -5.7 -4.7 -2.8 -1.1

58=64(t)-64(t-1) 0.8 8.7 4.4 -2.9 0.2 -3.7 -0.3 19.3 16.8 8.3 12.8 6.6 7.7 7.7 2.2 0.859 = 57+58 = 60+..+63 11.0 14.9 9.8 3.4 10.5 10.8 12.5 12.1 10.3 6.0 8.2 1.7 2.0 3.0 -0.6 -0.3

60=23 : : : : : : : : : : : : 0.5 2.3 -0.2 6.3

61=(-)33 : : : : : : : : : : : : 1.6 -0.3 -0.7 -6.7

62 : : : : : : : : : : : : -0.2 0.8 0.1 0.0

63 : : : : : : : : : : : : 0.2 0.2 0.3 0.264=65+66+69 0.8 8.7 4.4 -2.9 0.2 -3.7 -0.3 19.3 16.8 8.3 12.8 6.6 7.7 7.7 2.2 0.8

65 12.4 11.9 12.9 18.8 9.3 7.8 6.5 58.6 -6.1 16.0 -27.6 10.6 22.5 10.5 5.2 3.966=67+68 -0.7 3.4 5.7 -3.9 1.4 -5.7 -2.5 21.5 18.8 5.0 8.5 6.8 7.6 7.0 2.5 1.9

67 4.6 -19.2 32.6 -47.5 61.0 2.2 7.4 66.5 -0.9 -29.7 -25.2 -15.8 15.4 19.5 -25.8 59.668 -1.5 7.1 2.4 3.2 -3.5 -6.8 -4.0 13.9 23.6 11.8 12.7 8.7 7.2 6.1 4.7 -1.3

69=70+71 11.4 43.5 -2.3 1.7 -6.0 5.8 9.7 9.2 8.9 24.5 32.5 5.6 7.7 10.1 1.0 -2.870 90.6 1158.6 -22.8 -26.8 -83.7 92.2 105.9 65.9 7.8 56.1 98.1 -29.4 0.1 46.6 -14.8 -14.471 10.0 8.1 5.3 9.4 8.1 3.4 4.9 3.5 9.1 19.5 19.0 17.6 9.3 3.2 5.3 -0.372 : : : : : : : : 235.7 181.7 19.5 4.2 -4.6 0.0 0.073 : : : : : : : : -100.0

74=45+46+48a 15.2 15.9 23.5 14.5 13.4 7.9 -9.0 13.6 8.8 2.7 7.4 5.4 9.2 9.9 15.0 5.7

Table C - Memorandum items75 6.3 4.5 5.1 4.9 4.5 5.4 7.8 4.4 2.0 4.0 4.7 3.3 0.8 0.8 0.8 -0.676 2.4 2.4 3.6 6.3 5.2 5.9 7.0 1.6 2.2 5.8 5.4 4.1 1.4 0.8 2.0 2.1

77=20+18-7678 2.7 2.2 4.6 3.7 5.0 8.1 3.8 -6.5 3.4 5.2 1.5 1.8 1.1 2.0 3.1 3.6

79 2.2 1.0 0.5 0.0 0.5 -0.2 1.0 0.5 -0.2 0.8 0.2 0.5 -1.1 -1.1 -0.8 0.7



Sweden




2=3+4+5 Taxes 762,433 1,050,939 1,264,290 1,391,948 1,352,820 1,421,313 1,446,885 1,459,3263 . Indirect taxes 404,960 539,380 654,801 756,892 744,475 781,732 801,843 817,1004 . Direct taxes 355,300 508,772 608,397 635,040 608,343 639,571 645,039 642,2305 . Capital taxes 2,173 2,787 1,092 16 2 10 3 -46 Social contributions 112,032 122,017 102,317 111,691 111,644 113,916 123,475 124,5417 Sales (incl . own account capital formation) 99,342 101,024 125,836 145,724 146,678 152,061 154,528 156,2098 Other current revenue 88,455 70,709 78,156 108,235 96,896 97,059 103,709 102,8929 Capital revenue 2,353 2,172 5,364 3,086 3,319 3,144 3,764 13,969

10=11+..+18 Total expenditure 1,196,999 1,270,095 1,522,630 1,696,102 1,734,908 1,788,623 1,839,773 1,892,52611 Intermediate consumption 177,601 195,147 231,651 273,160 285,930 295,009 305,983 310,63512 Compensation of employees 254,196 294,495 371,099 422,371 423,756 432,760 445,547 464,60713 Interest 96,672 78,954 50,914 53,037 38,298 36,905 41,170 33,57814 Subsidies 65,780 36,072 40,715 49,337 50,597 55,412 59,750 61,97415 Social benefits 361,954 409,634 511,275 555,046 591,772 605,050 612,219 640,525


Government deficit



21=20-22Statistical discrepancy(non-financial minus financial accounts) : -2,379 5,634 -2,029 -1,863 4,083 696 -3,753

22=23-29 Net financial transactions : 79,145 47,699 66,611 -21,688 -5,213 -8,108 -31,83623=24+..+28 Net acquisition of financial assets : -111,771 62,594 -75,694 3,149 14,907 -70,775 -29,761

24 Currency and deposits : 4,303 13,435 48,691 -39,095 -12,193 34,152 -5,38525 Debt securities : -28,161 38,416 -54,838 1,174 35,432 -5,084 -1,11026 Loans : -7,758 26,285 14,080 101,269 18,082 27,974 23,35727 Shares and other equity : -54,320 -31,933 3,607 2,285 -11,307 -6,666 18,03228 Other financial assets : -25,835 16,391 -87,234 -62,484 -15,107 -121,151 -64,655

29=30+..+33 Net incurrence of liabilities : -190,916 14,895 -142,305 24,837 20,120 -62,667 2,07530 Currency and deposits : -50,633 -7,046 19,220 -8,298 5,218 10,114 6,45131 Debt securities : -173,449 21,165 -66,935 60,619 52,171 -53,066 27,25032 Loans : 18,762 10,227 3,145 59,008 -37,358 48,592 -14,22533 Other liabilities : 14,404 -9,451 -97,735 -86,492 89 -68,307 -17,401


35=44(t)-44(t-1)-23 Other changes in financial assets : 136,021 199,216 -31,203 237,184 110,555 235,716 149,89236=50(t)-50(t-1)-29 Other changes in liabilities : 56,356 81,085 199,992 2,538 11,181 162,954 43,346

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 79,665 118,131 -231,195 234,646 99,374 72,762 106,546

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets 1,337,099 1,569,113 1,955,353 2,331,148 2,377,313 2,479,170 2,599,106 2,665,62942 Other produced assets : : : : : : : :43 Non-produced assets 282,452 360,925 623,610 578,017 606,795 650,656 642,113 625,148

44=45+..+49 Financial assets : 1,311,574 1,908,222 2,141,159 2,381,492 2,506,954 2,671,895 2,792,02645 Currency and deposits : 56,758 66,061 120,228 80,650 66,402 100,903 96,50946 Debt securities : 254,464 248,244 310,159 312,782 329,746 333,483 343,14247 Loans : 311,889 343,842 388,817 487,195 485,820 514,940 540,69848 Shares and other equity : 633,475 970,344 1,004,503 1,169,441 1,243,578 1,374,174 1,444,324


50=51+..+54 Liabilities : 1,508,670 1,884,173 1,809,274 1,836,649 1,867,950 1,968,237 2,013,65851 Currency and deposits : 32,641 62,396 62,297 53,996 56,401 66,584 72,44052 Debt securities : 1,106,778 1,308,979 1,045,088 1,057,772 1,095,764 1,113,546 1,116,08053 Loans : 137,481 171,361 248,062 307,070 270,097 324,779 313,62054 Other liabilities : 231,770 341,437 453,827 417,811 445,688 463,328 511,518

55=44-50 Financial net worth : -197,096 24,049 331,885 544,843 639,004 703,658 778,36856=39-50=40+55 Net worth : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt : -161,437 57,463 -14,188 81,206 -855 24,578 18,74959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -84,671 110,796 50,394 57,655 -1,985 17,166 -16,840





65 . Currency and deposits : 33,061 62,941 62,826 54,450 56,596 66,651 72,44066=67+68 . Debt securities : 1,042,568 1,196,628 971,046 1,001,375 1,035,410 995,466 1,019,643





77=20+18-76 Net savings and capital transfers -101,587 86,742 71,945 92,168 3,576 34,159 32,662 4,57878 GDP 1,885,648 2,383,626 2,910,683 3,391,681 3,292,009 3,523,824 3,661,043 3,688,871




Sweden



Government revenue and expenditure1=2+6+7+8+9 1,909,039 1,951,725 2,092,137 2,227,774 2,328,699 -519,228 1,404,714 1,142,013 301,200

2=3+4+5 1,505,601 1,560,989 1,687,301 1,812,105 1,898,742 1,276,954 621,788 03 835,007 859,700 915,924 987,441 1,031,534 1,014,590 16,944 -4 670,598 701,287 771,377 824,664 867,208 262,364 604,844 -5 -4 2 - - - - - -6 128,043 132,084 139,162 145,682 153,010 14,274 12,126 126,6107 158,035 161,166 163,461 166,694 170,844 63,069 107,352 4238 103,756 92,150 91,175 96,410 98,600 -513,364 48,179 389,618 174,1679 13,604 5,336 11,038 6,883 7,503 -5,864 2,238 11,129 0

10=11+..+18 1,960,632 2,012,901 2,085,439 2,179,022 2,257,620 -519,228 1,323,049 1,152,357 301,44211 320,908 329,140 340,606 352,547 358,776 104,733 251,383 2,66012 481,254 499,613 522,406 552,310 580,473 132,727 446,708 1,03813 30,331 26,745 18,783 18,178 16,094 -170 13,046 3,142 7614 62,900 66,605 66,426 69,565 71,600 44,482 27,118 -15 671,436 686,195 714,762 749,888 764,278 281,044 185,682 297,552

15a 539,419 545,013 561,066 577,980 591,447 263,203 30,692 297,55216 217,730 222,794 231,754 234,024 251,790 -513,194 639,251 125,636 9717 9,861 10,602 12,733 16,074 10,021 -5,864 11,315 4,570 018 166,212 171,207 177,969 186,436 204,588 96,451 108,118 1919 168,192 173,157 175,769 192,807 209,737 95,191 114,527 19

Government deficit

20=1-10 -51,593 -61,176 6,698 48,752 71,079 81,665 -10,344 -242


21=20-22 -7,423 -3,588 -2,083 -2,569 -3,475 -1,721 -1,456 -298

22=23-29 -44,170 -57,588 8,781 51,321 74,554 83,386 -8,888 5623=24+..+28 45,848 93,118 -42,933 -24,236 64,415 -7,134 59,560 41,026 -29,037

24 -6,742 78,857 -15,324 10,215 17,332 -6,859 7,067 12,382 4,74225 1,238 56,927 6,714 25,898 120,361 -7,343 62,621 -374 65,45726 127,802 28,478 35,768 15,791 16,021 207 -1,407 19,288 -2,06727 -20,928 -15,169 -53,962 -31,169 -25,472 0 930 8,445 -34,84728 -55,522 -55,975 -16,129 -44,971 -63,827 6,861 -9,651 1,285 -62,322

29=30+..+33 90,018 150,706 -51,714 -75,557 -10,139 -7,134 -23,826 49,914 -29,09330 -20,305 1,440 -8,960 22,647 -5,906 -6,859 953 0 031 106,556 103,715 54,656 -87,514 -50,941 -7,343 -59,898 16,300 032 18,515 102,938 -9,547 37,482 72,213 207 54,242 18,369 -60533 -14,748 -57,387 -87,863 -48,172 -25,505 6,861 -19,123 15,245 -28,488


35=44(t)-44(t-1)-23 110,611 279,037 126,598 284,865 165,309 554 38,575 6,219 119,96136=50(t)-50(t-1)-29 64,937 227,735 114,759 140,011 13,175 554 -18,243 -184 31,048

37=35-36 = 55(t)-55(t-1)-22 45,674 51,302 11,839 144,854 152,134 56,818 6,403 88,913

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 2,725,549 2,791,337 2,846,649 3,024,654 3,193,296 : : :42 : : : : : : : :43 733,529 740,073 763,094 824,907 868,961 : : :

44=45+..+49 2,948,485 3,320,640 3,404,305 3,664,934 3,894,658 -96,724 1,766,226 717,437 1,507,71945 90,282 172,783 157,667 166,469 184,026 -17,880 98,382 62,874 40,65046 341,596 440,758 449,035 488,799 594,013 -58,041 122,495 41,421 488,13847 663,973 725,831 777,647 812,367 809,889 -425 473,362 323,575 13,37748 1,483,985 1,598,810 1,563,596 1,725,065 1,826,402 0 697,252 197,306 931,844

48a 136,477 177,163 173,327 192,319 195,668 : : :49 368,649 382,458 456,360 472,234 480,328 -20,378 374,735 92,261 33,710

50=51+..+54 2,168,613 2,547,054 2,610,099 2,674,553 2,677,589 -96,724 1,923,211 779,822 71,28051 52,244 54,359 45,401 67,881 61,904 -17,880 79,784 0 052 1,214,560 1,428,681 1,489,837 1,448,108 1,367,840 -58,041 1,248,291 177,590 053 340,777 444,041 435,871 478,252 550,253 -425 195,147 327,232 28,29954 561,032 619,973 638,990 680,312 697,592 -20,378 399,989 275,000 42,981

55=44-50 779,872 773,586 794,206 990,381 1,217,069 -156,985 -62,385 1,436,43956=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 -51,593 -61,176 6,698 48,752 71,079 81,665 -10,344 -242

58=64(t)-64(t-1) 131,588 256,404 64,700 1,437 11,746 -12,252 -8,991 33,594 -60559 = 57+58 = 60+..+63 79,995 195,228 71,398 50,189 82,825 -12,252 72,674 23,250 -847

60=23 : 93,118 -42,933 -24,236 64,415 -7,134 59,560 41,026 -29,037

61=(-)33 : 57,387 87,863 48,172 25,505 -6,861 19,123 -15,245 28,488

62 : 48,357 28,349 28,547 -3,295 1,529 -4,824 : :

63 : -3,634 -1,881 -2,294 -3,800 0 -1,185 -2,317 -29864=65+66+69 1,535,220 1,791,624 1,856,324 1,857,761 1,869,507 -67,993 1,409,448 499,753 28,299

65 52,244 54,359 45,401 67,881 61,904 -17,880 79,784 - -66=67+68 1,144,447 1,295,268 1,376,923 1,313,816 1,259,814 -49,688 1,134,532 174,970 -

67 144,366 235,674 251,337 119,988 117,895 -1,716 90,047 29,564 -68 1,000,081 1,059,594 1,125,586 1,193,828 1,141,919 -47,972 1,044,485 145,406 -

69=70+71 338,529 441,997 434,000 476,064 547,789 -425 195,132 324,783 28,29970 150,687 248,271 213,307 236,329 285,327 -425 193,331 64,122 28,29971 187,842 193,726 220,693 239,735 262,462 0 1,801 260,661 072 5,321 5,657 5,519 5,749 0 : : :73 0 0 0 0 0 : : :

74=45+46+48a 568,355 790,704 780,029 847,587 973,707 : : :

Table C - Memorandum items75 992,631 1,031,509 1,086,630 1,153,528 1,195,649 300,847 891,316 3,48676 127,065 130,535 134,073 137,632 143,655 82,862 60,744 49

77=20+18-76 -12,446 -20,504 50,594 97,556 132,012 95,254 37,030 -27278 3,773,939 3,940,925 4,201,543 4,385,497 4,578,899

79 1,332 1,348 1,378 1,417 1,445

con

solid

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n

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311

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312

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Sweden




2=3+4+5 Taxes 40.4 44.1 43.4 41.0 41.1 40.3 39.5 39.6 39.9 39.6 40.2 41.3 41.5 27.9 13.6 0.03 . Indirect taxes 21.5 22.6 22.5 22.3 22.6 22.2 21.9 22.2 22.1 21.8 21.8 22.5 22.5 22.2 0.4 -4 . Direct taxes 18.8 21.3 20.9 18.7 18.5 18.1 17.6 17.4 17.8 17.8 18.4 18.8 18.9 5.7 13.2 -5 . Capital taxes 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 - - - - - -6 Social contributions 5.9 5.1 3.5 3.3 3.4 3.2 3.4 3.4 3.4 3.4 3.3 3.3 3.3 0.3 0.3 2.87 Sales (incl. own account capital formation) 5.3 4.2 4.3 4.3 4.5 4.3 4.2 4.2 4.2 4.1 3.9 3.8 3.7 1.4 2.3 0.08 Other current revenue 4.7 3.0 2.7 3.2 2.9 2.8 2.8 2.8 2.7 2.3 2.2 2.2 2.2 -11.2 1.1 8.5 3.89 Capital revenue 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.4 0.4 0.1 0.3 0.2 0.2 -0.1 0.0 0.2 0.0



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -7.0 3.2 1.8 1.9 -0.7 0.0 -0.2 -1.0 -1.4 -1.6 0.2 1.1 1.6 1.8 -0.2 0.0


21=20-22Statistical discrepancy(non-financial minus financial accounts) : -0.1 0.2 -0.1 -0.1 0.1 0.0 -0.1 -0.2 -0.1 0.0 -0.1 -0.1 0.0 0.0 0.0

22=23-29 Net financial transactions : 3.3 1.6 2.0 -0.7 -0.1 -0.2 -0.9 -1.2 -1.5 0.2 1.2 1.6 1.8 -0.2 0.023=24+..+28 Net acquisition of financial assets : -4.7 2.2 -2.2 0.1 0.4 -1.9 -0.8 1.2 2.4 -1.0 -0.6 1.4 -0.2 1.3 0.9 -0.6

24 Currency and deposits : 0.2 0.5 1.4 -1.2 -0.3 0.9 -0.1 -0.2 2.0 -0.4 0.2 0.4 -0.1 0.2 0.3 0.125 Debt securities : -1.2 1.3 -1.6 0.0 1.0 -0.1 0.0 0.0 1.4 0.2 0.6 2.6 -0.2 1.4 0.0 1.426 Loans : -0.3 0.9 0.4 3.1 0.5 0.8 0.6 3.4 0.7 0.9 0.4 0.3 0.0 0.0 0.4 0.027 Shares and other equity : -2.3 -1.1 0.1 0.1 -0.3 -0.2 0.5 -0.6 -0.4 -1.3 -0.7 -0.6 0.0 0.0 0.2 -0.828 Other financial assets : -1.1 0.6 -2.6 -1.9 -0.4 -3.3 -1.8 -1.5 -1.4 -0.4 -1.0 -1.4 0.1 -0.2 0.0 -1.4

29=30+..+33 Net incurrence of liabilities : -8.0 0.5 -4.2 0.8 0.6 -1.7 0.1 2.4 3.8 -1.2 -1.7 -0.2 -0.2 -0.5 1.1 -0.630 Currency and deposits : -2.1 -0.2 0.6 -0.3 0.1 0.3 0.2 -0.5 0.0 -0.2 0.5 -0.1 -0.1 0.0 0.0 0.031 Debt securities : -7.3 0.7 -2.0 1.8 1.5 -1.4 0.7 2.8 2.6 1.3 -2.0 -1.1 -0.2 -1.3 0.4 0.032 Loans : 0.8 0.4 0.1 1.8 -1.1 1.3 -0.4 0.5 2.6 -0.2 0.9 1.6 0.0 1.2 0.4 0.033 Other liabilities : 0.6 -0.3 -2.9 -2.6 0.0 -1.9 -0.5 -0.4 -1.5 -2.1 -1.1 -0.6 0.1 -0.4 0.3 -0.6


35=44(t)-44(t-1)-23 Other changes in financial assets : 5.7 6.8 -0.9 7.2 3.1 6.4 4.1 2.9 7.1 3.0 6.5 3.6 0.0 0.8 0.1 2.636=50(t)-50(t-1)-29 Other changes in liabilities : 2.4 2.8 5.9 0.1 0.3 4.5 1.2 1.7 5.8 2.7 3.2 0.3 0.0 -0.4 0.0 0.7

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 3.3 4.1 -6.8 7.1 2.8 2.0 2.9 1.2 1.3 0.3 3.3 3.3 1.2 0.1 1.9

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : : :41 Fixed assets 70.9 65.8 67.2 68.7 72.2 70.4 71.0 72.3 72.2 70.8 67.8 69.0 69.7 : : :42 Other produced assets : : : : : : : : : : : : : : : :43 Non-produced assets 15.0 15.1 21.4 17.0 18.4 18.5 17.5 16.9 19.4 18.8 18.2 18.8 19.0 : : :

44=45+..+49 Financial assets : 55.0 65.6 63.1 72.3 71.1 73.0 75.7 78.1 84.3 81.0 83.6 85.1 -2.1 38.6 15.7 32.945 Currency and deposits : 2.4 2.3 3.5 2.4 1.9 2.8 2.6 2.4 4.4 3.8 3.8 4.0 -0.4 2.1 1.4 0.946 Debt securities : 10.7 8.5 9.1 9.5 9.4 9.1 9.3 9.1 11.2 10.7 11.1 13.0 -1.3 2.7 0.9 10.747 Loans : 13.1 11.8 11.5 14.8 13.8 14.1 14.7 17.6 18.4 18.5 18.5 17.7 0.0 10.3 7.1 0.348 Shares and other equity : 26.6 33.3 29.6 35.5 35.3 37.5 39.2 39.3 40.6 37.2 39.3 39.9 0.0 15.2 4.3 20.4


50=51+..+54 Liabilities : 63.3 64.7 53.3 55.8 53.0 53.8 54.6 57.5 64.6 62.1 61.0 58.5 -2.1 42.0 17.0 1.651 Currency and deposits : 1.4 2.1 1.8 1.6 1.6 1.8 2.0 1.4 1.4 1.1 1.5 1.4 -0.4 1.7 0.0 0.052 Debt securities : 46.4 45.0 30.8 32.1 31.1 30.4 30.3 32.2 36.3 35.5 33.0 29.9 -1.3 27.3 3.9 0.053 Loans : 5.8 5.9 7.3 9.3 7.7 8.9 8.5 9.0 11.3 10.4 10.9 12.0 0.0 4.3 7.1 0.654 Other liabilities : 9.7 11.7 13.4 12.7 12.6 12.7 13.9 14.9 15.7 15.2 15.5 15.2 -0.4 8.7 6.0 0.9

55=44-50 Financial net worth : -8.3 0.8 9.8 16.6 18.1 19.2 21.1 20.7 19.6 18.9 22.6 26.6 -3.4 -1.4 31.456=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -7.0 3.2 1.8 1.9 -0.7 0.0 -0.2 -1.0 -1.4 -1.6 0.2 1.1 1.6 1.8 -0.2 0.0

58=64(t)-64(t-1) Change in Government Debt : -6.8 2.0 -0.4 2.5 0.0 0.7 0.5 3.5 6.5 1.5 0.0 0.3 -0.3 -0.2 0.7 0.059 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : -3.6 3.8 1.5 1.8 -0.1 0.5 -0.5 2.1 5.0 1.7 1.1 1.8 -0.3 1.6 0.5 0.0

60=23 Net acquisition of financial assets : : : : : : : : : 2.4 -1.0 -0.6 1.4 -0.2 1.3 0.9 -0.6

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : 1.5 2.1 1.1 0.6 -0.1 0.4 -0.3 0.6

62Valuation effects and other changes in volume in government debt : : : : : : : : : 1.2 0.7 0.7 -0.1 0.0 -0.1 : :

63 Statistical discrepancies : : : : : : : : : -0.1 0.0 -0.1 -0.1 0.0 0.0 -0.1 0.064=65+66+69 Government debt (nominal / face value) : 50.7 49.1 37.7 41.3 38.6 37.8 38.1 40.7 45.5 44.2 42.4 40.8 -1.5 30.8 10.9 0.6

65 . Currency and deposits : 1.4 2.2 1.9 1.7 1.6 1.8 2.0 1.4 1.4 1.1 1.5 1.4 -0.4 1.7 - -66=67+68 . Debt securities : 43.7 41.1 28.6 30.4 29.4 27.2 27.6 30.3 32.9 32.8 30.0 27.5 -1.1 24.8 3.8 -





77=20+18-76 Net savings and capital transfers -5.4 3.6 2.5 2.7 0.1 1.0 0.9 0.1 -0.3 -0.5 1.2 2.2 2.9 2.1 0.8 0.078 GDP



S.1

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312

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2=3+4+5 1.5 5.2 5.3 6.8 5.8 3.9 0.2 -2.8 5.1 1.8 0.9 3.2 3.7 8.1 7.4 4.83 4.7 3.4 2.6 4.5 4.4 6.1 4.4 -1.6 5.0 2.6 1.9 2.2 3.0 6.5 7.8 4.54 -2.3 7.5 8.6 9.8 7.5 1.6 -4.4 -4.2 5.1 0.9 -0.4 4.4 4.6 10.0 6.9 5.25 6.8 -16.3 2.4 -57.2 -89.0 -80.8 -30.4 -87.5 400.0 -70.0 -233.3 0.0 -150.0 -100.06 -12.1 3.2 2.6 -4.9 -4.4 8.1 5.7 0.0 2.0 8.4 0.9 2.8 3.2 5.4 4.7 5.07 1.9 4.1 5.6 3.0 3.1 5.9 6.1 0.7 3.7 1.6 1.1 1.2 2.0 1.4 2.0 2.58 2.4 2.0 -1.5 20.4 4.5 24.7 6.3 -10.5 0.2 6.9 -0.8 0.8 -11.2 -1.1 5.7 2.39 10.8 1.1 3.7 86.3 -28.4 -8.4 -12.4 7.6 -5.3 19.7 271.1 -2.6 -60.8 106.9 -37.6 9.0

10=11+..+18 6.0 4.4 1.7 3.5 3.9 2.8 4.3 2.3 3.1 2.9 2.9 3.6 2.7 3.6 4.5 3.611 5.4 2.7 1.3 3.7 7.1 3.2 6.7 4.7 3.2 3.7 1.5 3.3 2.6 3.5 3.5 1.812 5.4 6.8 3.2 2.6 4.5 4.8 3.9 0.3 2.1 3.0 4.3 3.6 3.8 4.6 5.7 5.113 14.5 -24.4 -15.4 7.5 -1.3 8.6 -2.8 -27.8 -3.6 11.6 -18.4 -9.7 -11.8 -29.8 -3.2 -11.514 8.5 4.2 -2.7 7.4 11.0 3.0 6.0 2.6 9.5 7.8 3.7 1.5 5.9 -0.3 4.7 2.915 6.3 7.0 1.8 2.3 3.2 1.4 3.8 6.6 2.2 1.2 4.6 4.8 2.2 4.2 4.9 1.9

15a 5.0 7.3 2.4 2.1 2.7 0.5 2.9 5.7 0.7 0.0 4.9 4.6 1.0 2.9 3.0 2.316 -0.2 10.4 6.3 3.8 1.3 -1.7 3.2 -0.6 4.3 0.2 1.1 6.0 2.3 4.0 1.0 7.617 5.0 11.9 -16.8 73.6 -40.6 12.5 15.2 -14.6 -4.5 30.7 -7.0 -6.9 7.5 20.1 26.2 -37.718 11.0 -0.3 1.2 2.6 8.0 6.1 6.0 3.0 7.8 5.6 2.8 0.6 3.0 3.9 4.8 9.719 8.5 0.7 2.4 3.6 7.2 5.6 7.0 2.3 7.5 2.1 3.5 0.2 3.0 1.5 9.7 8.8

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -0.2 2.4 3.2 3.8 0.9 -0.2 -3.4 0.1 0.6 -2.8 -1.1 1.6 3.2 -1.3 -0.7 1.8

24 -13.6 -15.9 4.9 27.1 25.5 -8.1 66.3 -32.5 -15.1 51.4 -5.3 -7.0 87.3 -8.9 6.5 10.425 3.3 6.9 15.2 19.4 15.4 17.3 -16.8 0.4 11.3 -1.5 -0.3 0.4 16.7 1.5 5.8 24.626 -1.0 4.6 0.4 8.2 4.5 1.6 3.7 26.0 3.7 5.8 4.5 23.6 4.3 4.9 2.0 2.027 5.0 4.3 3.0 -3.9 -1.1 -0.8 0.3 0.2 -1.0 -0.5 1.3 -1.4 -1.0 -3.4 -2.0 -1.528 -15.7 -4.6 -1.4 6.1 -15.1 -13.6 -28.5 -19.7 -4.6 -31.8 -18.6 -15.1 -15.2 -4.2 -9.9 -13.5

29=30+..+33 1.4 3.8 1.5 0.8 -2.7 -6.6 -8.1 1.4 1.1 -3.4 0.1 4.5 6.9 -2.0 -2.9 -0.430 -8.7 18.6 17.9 -10.3 -30.6 -4.3 45.3 -13.3 9.7 17.9 9.7 -28.0 2.8 -16.5 49.9 -8.731 1.0 6.0 0.9 1.7 -4.2 -9.3 -6.1 5.8 4.9 -4.8 2.4 9.5 8.5 3.8 -5.9 -3.532 2.8 -8.6 8.3 6.4 13.2 12.4 1.3 23.8 -12.2 18.0 -4.4 5.9 30.2 -2.2 8.6 15.133 4.4 0.0 -2.5 -3.0 0.4 -9.1 -25.9 -19.1 0.0 -15.3 -3.8 -2.9 -10.2 -14.2 -7.5 -3.7


35=44(t)-44(t-1)-23 -7.2 6.3 4.4 12.1 10.4 6.1 -1.4 11.1 4.6 9.4 5.6 4.0 9.5 3.8 8.4 4.536=50(t)-50(t-1)-29 2.2 -1.0 2.2 4.5 -1.4 3.5 11.4 0.1 0.6 8.7 2.2 3.2 10.5 4.5 5.4 0.5

37=35-36 = 55(t)-55(t-1)-22 147.5 -39.2 -15.2 -83.3 929.9 20.7 -46.6 70.7 18.2 11.4 15.1 5.9 6.6 1.5 18.2 15.4

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 4.9 3.3 4.9 4.5 5.3 6.1 6.7 2.0 4.3 4.8 2.6 2.2 2.4 2.0 6.3 5.642 : : : : : : : : : : : : : : : :43 5.0 7.2 35.6 8.5 8.9 -15.3 0.4 5.0 7.2 -1.3 -2.6 17.3 0.9 3.1 8.1 5.3

44=45+..+49 -7.5 8.7 7.6 15.9 11.3 5.9 -4.8 11.2 5.3 6.6 4.5 5.6 12.6 2.5 7.7 6.345 -18.2 -14.1 -6.0 33.4 24.8 -10.9 63.7 -32.9 -17.7 52.0 -4.4 -6.5 91.4 -8.7 5.6 10.546 6.2 2.7 13.3 25.1 10.2 19.3 -4.9 0.8 5.4 1.1 2.9 -0.5 29.0 1.9 8.9 21.547 -0.6 4.3 1.3 7.9 5.4 3.9 3.3 25.3 -0.3 6.0 5.0 22.8 9.3 7.1 4.5 -0.348 -14.8 13.2 10.2 19.3 13.3 6.0 -13.8 16.4 6.3 10.5 5.1 2.7 7.7 -2.2 10.3 5.9

48a -0.8 21.7 51.7 3.2 27.2 22.1 -39.8 42.8 13.9 20.6 34.0 6.4 29.8 -2.2 11.0 1.749 2.5 12.4 6.8 4.9 9.1 0.3 3.7 4.4 15.1 -8.7 5.4 0.4 3.7 19.3 3.5 1.7

50=51+..+54 3.6 2.8 3.7 5.4 -4.1 -3.1 3.3 1.5 1.7 5.4 2.3 7.7 17.5 2.5 2.5 0.151 -7.9 17.7 15.7 -8.8 -31.2 -1.1 46.7 -13.3 4.5 18.1 8.8 -27.9 4.0 -16.5 49.5 -8.852 3.6 5.1 3.4 4.7 -7.8 -9.8 -4.0 1.2 3.6 1.6 0.2 8.8 17.6 4.3 -2.8 -5.553 -1.3 -8.6 8.7 7.5 21.1 17.0 2.1 23.8 -12.0 20.2 -3.4 8.7 30.3 -1.8 9.7 15.154 8.5 -2.2 0.4 9.9 2.7 7.6 20.3 -7.9 6.7 4.0 10.4 9.7 10.5 3.1 6.5 2.5

55=44-50 175.1 -28.0 -26.9 -117.0 1211.8 57.4 -33.2 64.2 17.3 10.1 10.6 0.2 -0.8 2.7 24.7 22.956=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 -2.9 -2.6 0.7 3.9 4.8 8.1 5.0 -1.8 -0.1 -0.5 -2.6 -3.7 -4.0 0.4 2.6 3.8

58=64(t)-64(t-1) -0.2 3.0 3.0 4.2 -4.6 -5.1 -1.1 6.3 -0.1 1.8 1.4 9.4 16.7 3.6 0.1 0.659 = 57+58 = 60+..+63 -3.1 0.4 3.7 8.1 0.2 3.1 3.9 4.5 -0.1 1.3 -1.2 5.7 12.7 4.0 2.7 4.5

60=23 : : : : : : : : : : : : 6.1 -2.4 -1.3 3.5

61=(-)33 : : : : : : : : : : : : 3.7 4.9 2.6 1.4

62 : : : : : : : : : : : : 3.1 1.6 1.5 -0.2

63 : : : : : : : : : : : : -0.2 -0.1 -0.1 -0.264=65+66+69 -0.2 3.0 3.0 4.2 -4.6 -5.1 -1.1 6.3 -0.1 1.8 1.4 9.4 16.7 3.6 0.1 0.6

65 -7.8 17.3 16.3 -8.6 -30.7 -1.2 45.9 -13.3 3.9 17.8 8.7 -27.9 4.0 -16.5 49.5 -8.866=67+68 0.3 4.1 1.6 4.3 -6.9 -9.3 -3.9 3.1 3.4 -3.9 2.4 12.2 13.2 6.3 -4.6 -4.1

67 4.1 12.2 -22.1 44.4 -12.3 -25.2 -25.4 -4.1 6.3 -12.3 44.9 -25.6 63.2 6.6 -52.3 -1.768 -0.8 1.8 9.0 -4.7 -5.1 -4.3 1.5 4.4 2.9 -2.4 -4.2 21.1 6.0 6.2 6.1 -4.3

69=70+71 -0.9 -8.9 8.8 8.6 20.9 17.3 2.1 24.1 -12.1 20.3 -3.5 8.7 30.6 -1.8 9.7 15.170 -12.2 -37.0 51.6 14.7 61.6 35.2 -3.3 53.9 -26.4 22.1 -15.0 7.7 64.8 -14.1 10.8 20.771 5.7 4.8 -3.6 5.9 0.8 3.1 7.8 -3.8 9.2 18.4 8.6 9.4 3.1 13.9 8.6 9.572 : : : : : : : : 106.6 6.3 -2.4 4.2 -100.073 : : : : : : : :

74=45+46+48a -1.5 0.8 14.3 22.8 15.2 13.8 -0.3 -3.4 2.7 11.5 7.1 0.1 39.1 -1.4 8.7 14.9


77=20+18-7678 3.7 4.2 4.8 3.6 6.6 6.4 2.7 -2.9 7.0 3.9 0.8 2.3 4.4 6.6 4.4 4.4

79 1.4 1.0 0.4 -0.4 1.3 -0.1 -2.0 -2.2 -0.6 0.5 0.7 1.1 1.2 2.2 2.8 2.0



United Kingdom




2=3+4+5 Taxes 207,200 299,881 375,600 442,073 395,972 428,844 451,727 452,4153 . Indirect taxes 96,088 133,757 161,007 176,671 165,886 191,004 206,611 212,3554 . Direct taxes 109,671 163,909 211,443 240,329 225,880 235,198 242,180 236,9315 . Capital taxes 1,441 2,215 3,150 25,073 4,206 2,642 2,936 3,1296 Social contributions 53,960 73,796 105,032 121,583 119,448 122,475 126,593 129,4577 Sales (incl . own account capital formation) 11,159 15,941 31,933 41,075 44,494 45,127 42,965 41,2538 Other current revenue 9,622 10,925 8,589 12,996 10,033 9,405 9,727 13,3009 Capital revenue 372 475 8,521 2,284 2,316 1,661 928 1,322



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -43,931 15,023 -43,696 -81,431 -154,952 -147,498 -123,259 -137,230


21=20-22Statistical discrepancy(non-financial minus financial accounts) 146 -1,357 -1,979 8,629 424 -71 -807 -7,440

22=23-29 Net financial transactions -44,077 16,380 -41,717 -90,060 -155,376 -147,427 -122,452 -129,79023=24+..+28 Net acquisition of financial assets -2,374 31,617 7,960 64,005 56,599 8,138 11,854 17,698

24 Currency and deposits 2,265 18,823 -938 11,912 3,397 -10,783 12,211 3,20225 Debt securities -554 7,124 3,274 4,954 -8,028 6,691 7,555 1,75226 Loans -944 2,250 2,793 22,340 12,159 8,930 -3,040 4,65127 Shares and other equity -3,428 -2,080 -3,973 9,499 36,610 189 -82 3,26228 Other financial assets 287 5,500 6,804 15,300 12,461 3,111 -4,790 4,831

29=30+..+33 Net incurrence of liabilities 41,703 15,237 49,677 154,065 211,975 155,565 134,306 147,48830 Currency and deposits 4,320 3,369 4,557 19,890 8,019 -5,811 8,074 -2,09831 Debt securities 34,149 -14,238 40,024 112,344 220,055 162,508 129,131 109,80632 Loans 1,918 964 3,592 8,713 -27,288 -1,431 -1,250 -8533 Other liabilities 1,316 25,142 1,504 13,118 11,189 299 -1,649 39,865


35=44(t)-44(t-1)-23 Other changes in financial assets : 3,766 21,737 19,846 -8,632 95,375 -17,610 28,76436=50(t)-50(t-1)-29 Other changes in liabilities : 22,998 -10,241 77,059 -32,097 57,555 141,842 -35,130

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -19,232 31,978 -57,213 23,465 37,820 -159,452 63,894

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets : 508,672 769,841 868,355 838,006 865,816 924,669 953,55842 Other produced assets : : : : : : : :43 Non-produced assets : 0 0 0 0 0 0 0

44=45+..+49 Financial assets 176,313 216,645 283,984 391,745 439,712 543,225 537,469 583,93145 Currency and deposits 18,283 41,903 29,530 62,774 65,525 64,279 75,748 77,48146 Debt securities 23,818 25,600 26,146 40,681 29,958 46,866 53,852 54,06847 Loans 18,394 17,422 28,119 57,405 69,531 139,570 136,740 141,59048 Shares and other equity 77,036 86,349 135,762 146,800 175,785 198,638 180,357 215,252

48a of which, Investment fund shares 0 0 0 0 0 0 9 1,11449 Other financial assets 38,782 45,371 64,427 84,085 98,913 93,872 90,772 95,540

50=51+..+54 Liabilities 431,728 487,724 667,509 984,561 1,164,439 1,377,559 1,653,707 1,766,06551 Currency and deposits 67,857 77,425 86,888 119,754 127,775 126,831 134,875 132,74052 Debt securities 286,708 334,511 469,036 681,419 883,920 1,132,113 1,394,764 1,481,85653 Loans 23,680 31,453 47,206 56,674 28,913 28,435 30,878 29,83454 Other liabilities 53,483 44,335 64,379 126,714 123,831 90,180 93,190 121,635

55=44-50 Financial net worth -255,415 -271,079 -383,525 -592,816 -724,727 -834,334 -1,116,238 -1,182,13456=39-50=40+55 Net worth : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -43,931 15,023 -43,696 -81,431 -154,952 -147,498 -123,259 -137,230

58=64(t)-64(t-1) Change in Government Debt 53,670 -7,599 45,902 141,506 194,834 214,541 134,441 96,01959 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 9,739 7,424 2,206 60,075 39,882 67,043 11,182 -41,211

60=23 Net acquisition of financial assets -2,374 31,617 7,960 64,005 56,599 8,138 11,854 17,698

61=(-)33 Incurrence in liabilities not in government debt -1,316 -25,142 -1,504 -13,118 -11,189 -299 1,649 -39,865

62 Valuation effects and other changes in volume in government debt -2,002 19 -612 559 -5,952 59,275 -1,514 -11,604

63 Statistical discrepancies 15,431 930 -3,638 8,629 424 -71 -807 -7,44064=65+66+69 Government debt (nominal / face value) : 403,133 552,591 784,963 979,797 1,194,338 1,328,779 1,424,798

65 . Currency and deposits : 77,425 86,888 119,754 127,775 126,831 134,875 132,74066=67+68 . Debt securities : 294,255 418,497 608,535 823,109 1,039,072 1,163,026 1,262,224

67 .. short term : 2,358 24,280 31,406 57,304 54,434 69,318 49,82568 .. long term : 291,897 394,217 577,129 765,805 984,638 1,093,708 1,212,399




77=20+18-76 Net savings and capital transfers -35,983 19,191 -20,298 -56,847 -127,985 -121,990 -101,766 -119,49078 GDP 846,536 1,089,341 1,388,753 1,579,796 1,537,213 1,587,466 1,644,546 1,694,417




United Kingdom



Government revenue and expenditure1=2+6+7+8+9 679,390 694,080 719,852 757,421 799,682 -126,533 735,347 190,868

2=3+4+5 470,161 486,832 505,408 532,893 559,914 527,155 32,7593 221,956 233,437 241,207 252,333 263,558 262,710 8484 243,950 249,509 259,759 275,759 290,974 259,063 31,9115 4,255 3,886 4,442 4,801 5,382 5,382 06 132,070 135,918 142,880 151,790 160,845 158,103 2,7427 43,428 45,189 46,402 47,839 51,064 23,197 27,8678 30,925 22,238 22,072 22,432 25,089 -116,044 25,481 115,6529 2,806 3,903 3,090 2,467 2,770 -10,489 1,411 11,848

10=11+..+18 773,932 793,276 800,031 815,182 836,573 -126,533 764,783 198,32311 154,923 160,804 159,597 159,867 159,847 101,890 57,95712 166,473 170,171 172,678 178,334 184,474 121,673 62,80113 49,634 49,011 43,886 48,030 55,414 -2,855 54,759 3,51014 8,910 9,891 11,641 13,150 15,898 13,533 2,36515 290,781 298,292 306,645 311,946 314,625 266,015 48,610

15a 249,555 255,231 260,619 264,003 265,483 234,285 31,19816 45,325 41,148 39,469 38,974 36,961 -113,189 148,188 1,96217 14,033 15,430 17,770 16,204 17,899 -10,489 25,172 3,21618 43,853 48,529 48,345 48,677 51,455 33,553 17,90219 45,659 50,818 50,998 52,098 54,030 34,162 19,868

Government deficit

20=1-10 -94,542 -99,196 -80,179 -57,761 -36,891 -29,436 -7,455


21=20-22 -579 -6,497 340 -956 -184 -1,056 872

22=23-29 -93,963 -92,699 -80,519 -56,805 -36,707 -28,380 -8,32723=24+..+28 -17,523 18,334 -1,816 24,871 25,191 -8,525 32,576 1,140

24 5,392 6,406 -3,544 700 18,421 -634 20,720 -1,66525 -3,563 6,244 16,335 6,249 -1,464 -27 -1,198 -23926 3,260 8,169 70 15,772 5,114 -2,598 3,606 4,10627 -27,008 -7,119 -14,346 -3,227 -4,383 0 -3,049 -1,33428 4,396 4,634 -331 5,377 7,503 -5,266 12,497 272

29=30+..+33 76,440 111,033 78,703 81,676 61,898 -8,525 60,956 9,46730 -7,201 18,305 10,983 17,812 15,709 -634 16,343 -31 79,349 87,456 59,104 64,195 39,115 -27 39,439 -29732 1,141 480 4,766 694 5,139 -2,598 3,349 4,38833 3,151 4,792 3,850 -1,025 1,935 -5,266 1,825 5,376


35=44(t)-44(t-1)-23 1,916 6,004 -1,342 7,326 2,554 1 -822 3,37536=50(t)-50(t-1)-29 -81,970 158,785 -31,007 194,329 -17,779 1 -13,004 -4,776

37=35-36 = 55(t)-55(t-1)-22 83,886 -152,781 29,665 -187,003 20,333 12,182 8,151

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : :


40=41+42+43 : : : : : : :41 987,925 1,016,221 : : : : :42 : : : : : : :43 0 0 : : : : :

44=45+..+49 568,324 592,662 589,504 621,701 649,446 -101,764 540,120 211,09045 79,753 80,492 76,087 80,273 95,529 -1,600 63,242 33,88746 49,113 55,019 71,255 88,706 84,200 -1,326 81,339 4,18747 144,889 153,048 153,110 168,867 172,086 -70,980 212,683 30,38348 198,084 202,546 187,121 182,367 188,476 0 55,798 132,678

48a 1,221 886 622 982 968 : :49 96,485 101,557 101,931 101,488 109,155 -27,858 127,058 9,955

50=51+..+54 1,760,535 2,030,353 2,078,049 2,354,054 2,398,173 -101,764 2,342,240 157,69751 125,614 143,833 154,736 172,617 188,328 -1,600 189,928 -52 1,487,926 1,750,751 1,771,067 2,036,071 2,062,415 -1,326 2,059,591 4,15053 29,897 30,081 34,565 33,970 41,326 -70,980 21,186 91,12054 117,098 105,688 117,681 111,396 106,104 -27,858 71,535 62,427

55=44-50 -1,192,211 -1,437,691 -1,488,545 -1,732,353 -1,748,727 -1,802,120 53,39356=39-50=40+55 : : : : : : :

Table B - Government debt and link with the deficit57=20 -94,542 -99,196 -80,179 -57,761 -36,891 -29,436 -7,455

58=64(t)-64(t-1) 74,991 104,999 61,191 65,413 54,677 -3,259 53,845 4,09159 = 57+58 = 60+..+63 -19,551 5,803 -18,988 7,652 17,786 -3,259 24,409 -3,364

60=23 -17,523 18,334 -1,816 24,871 25,191 -8,525 32,576 1,140

61=(-)33 -3,151 -4,792 -3,850 1,025 -1,935 5,266 -1,825 -5,376

62 1,702 -1,242 -13,662 -17,288 -5,286 0 -5,286 0

63 -579 -6,497 340 -956 -184 0 -1,056 87264=65+66+69 1,499,789 1,604,788 1,665,979 1,731,392 1,786,069 -73,906 1,764,705 95,270

65 125,614 143,833 154,736 172,617 188,328 -1,600 189,928 -66=67+68 1,344,278 1,430,874 1,476,678 1,524,805 1,556,415 -1,326 1,553,591 4,150

67 35,284 60,349 79,748 93,997 79,189 -744 79,933 068 1,308,994 1,370,525 1,396,930 1,430,808 1,477,226 -582 1,473,658 4,150

69=70+71 29,897 30,081 34,565 33,970 41,326 -70,980 21,186 91,12070 7,193 6,634 10,419 9,052 14,795 0 14,261 53471 22,704 23,447 24,146 24,918 26,531 -70,980 6,925 90,58672 3,226 3,226 3,226 3,226 3,226 : :73 0 0 0 0 0 : :

74=45+46+48a 130,087 136,397 147,964 169,961 180,697 : :


77=20+18-76 -78,082 -78,921 -60,963 -38,789 -15,826 -14,362 -1,46478 1,761,347 1,844,295 1,895,839 1,969,524 2,044,471

79 5,204 5,186 5,140 5,124 5,133

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2=3+4+5 Taxes 24.5 27.5 27.0 28.0 25.8 27.0 27.5 26.7 26.7 26.4 26.7 27.1 27.4 25.8 1.63 . Indirect taxes 11.4 12.3 11.6 11.2 10.8 12.0 12.6 12.5 12.6 12.7 12.7 12.8 12.9 12.8 0.04 . Direct taxes 13.0 15.0 15.2 15.2 14.7 14.8 14.7 14.0 13.9 13.5 13.7 14.0 14.2 12.7 1.65 . Capital taxes 0.2 0.2 0.2 1.6 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.06 Social contributions 6.4 6.8 7.6 7.7 7.8 7.7 7.7 7.6 7.5 7.4 7.5 7.7 7.9 7.7 0.17 Sales (incl. own account capital formation) 1.3 1.5 2.3 2.6 2.9 2.8 2.6 2.4 2.5 2.5 2.4 2.4 2.5 1.1 1.48 Other current revenue 1.1 1.0 0.6 0.8 0.7 0.6 0.6 0.8 1.8 1.2 1.2 1.1 1.2 -5.7 1.2 5.79 Capital revenue 0.0 0.0 0.6 0.1 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.1 -0.5 0.1 0.6

10=11+..+18 Total expenditure 38.5 35.4 41.3 44.4 47.3 47.6 45.9 45.7 43.9 43.0 42.2 41.4 40.9 -6.2 37.4 9.711 Intermediate consumption 6.0 6.2 7.7 8.8 9.7 9.3 8.8 8.7 8.8 8.7 8.4 8.1 7.8 5.0 2.812 Compensation of employees 9.2 8.8 10.4 10.2 10.8 10.8 10.3 10.1 9.5 9.2 9.1 9.1 9.0 6.0 3.113 Interest 3.1 2.4 2.0 2.2 1.8 2.9 3.1 2.9 2.8 2.7 2.3 2.4 2.7 -0.1 2.7 0.214 Subsidies 0.5 0.4 0.5 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.6 0.7 0.8 0.7 0.115 Social benefits 14.4 13.0 14.2 14.8 16.7 16.8 16.7 16.9 16.5 16.2 16.2 15.8 15.4 13.0 2.4

15a of which other than transfers in kind 13.0 11.3 12.0 12.4 14.2 14.3 14.2 14.5 14.2 13.8 13.7 13.4 13.0 11.5 1.516 Other current expenditure 1.9 2.3 2.6 2.4 2.7 2.9 2.6 2.6 2.6 2.2 2.1 2.0 1.8 -5.5 7.2 0.117 Capital transfers payable 1.1 0.7 0.9 2.7 1.8 1.2 0.9 1.4 0.8 0.8 0.9 0.8 0.9 -0.5 1.2 0.218 Capital investments 2.2 1.6 3.0 2.9 3.2 3.1 2.8 2.6 2.5 2.6 2.6 2.5 2.5 1.6 0.919 of which, gross fixed capital formation 2.2 1.7 3.0 3.0 3.3 3.2 2.9 2.7 2.6 2.8 2.7 2.6 2.6 1.7 1.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -5.2 1.4 -3.1 -5.2 -10.1 -9.3 -7.5 -8.1 -5.4 -5.4 -4.2 -2.9 -1.8 -1.4 -0.4


21=20-22Statistical discrepancy(non-financial minus financial accounts) 0.0 -0.1 -0.1 0.5 0.0 0.0 0.0 -0.4 0.0 -0.4 0.0 0.0 0.0 -0.1 0.0

22=23-29 Net financial transactions -5.2 1.5 -3.0 -5.7 -10.1 -9.3 -7.4 -7.7 -5.3 -5.0 -4.2 -2.9 -1.8 -1.4 -0.423=24+..+28 Net acquisition of financial assets -0.3 2.9 0.6 4.1 3.7 0.5 0.7 1.0 -1.0 1.0 -0.1 1.3 1.2 -0.4 1.6 0.1

24 Currency and deposits 0.3 1.7 -0.1 0.8 0.2 -0.7 0.7 0.2 0.3 0.3 -0.2 0.0 0.9 0.0 1.0 -0.125 Debt securities -0.1 0.7 0.2 0.3 -0.5 0.4 0.5 0.1 -0.2 0.3 0.9 0.3 -0.1 0.0 -0.1 0.026 Loans -0.1 0.2 0.2 1.4 0.8 0.6 -0.2 0.3 0.2 0.4 0.0 0.8 0.3 -0.1 0.2 0.227 Shares and other equity -0.4 -0.2 -0.3 0.6 2.4 0.0 0.0 0.2 -1.5 -0.4 -0.8 -0.2 -0.2 0.0 -0.1 -0.128 Other financial assets 0.0 0.5 0.5 1.0 0.8 0.2 -0.3 0.3 0.2 0.3 0.0 0.3 0.4 -0.3 0.6 0.0

29=30+..+33 Net incurrence of liabilities 4.9 1.4 3.6 9.8 13.8 9.8 8.2 8.7 4.3 6.0 4.2 4.1 3.0 -0.4 3.0 0.530 Currency and deposits 0.5 0.3 0.3 1.3 0.5 -0.4 0.5 -0.1 -0.4 1.0 0.6 0.9 0.8 0.0 0.8 -31 Debt securities 4.0 -1.3 2.9 7.1 14.3 10.2 7.9 6.5 4.5 4.7 3.1 3.3 1.9 0.0 1.9 0.032 Loans 0.2 0.1 0.3 0.6 -1.8 -0.1 -0.1 0.0 0.1 0.0 0.3 0.0 0.3 -0.1 0.2 0.233 Other liabilities 0.2 2.3 0.1 0.8 0.7 0.0 -0.1 2.4 0.2 0.3 0.2 -0.1 0.1 -0.3 0.1 0.3


35=44(t)-44(t-1)-23 Other changes in financial assets : 0.3 1.6 1.3 -0.6 6.0 -1.1 1.7 0.1 0.3 -0.1 0.4 0.1 0.0 0.0 0.236=50(t)-50(t-1)-29 Other changes in liabilities : 2.1 -0.7 4.9 -2.1 3.6 8.6 -2.1 -4.7 8.6 -1.6 9.9 -0.9 0.0 -0.6 -0.2

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : -1.8 2.3 -3.6 1.5 2.4 -9.7 3.8 4.8 -8.3 1.6 -9.5 1.0 0.6 0.4

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : :41 Fixed assets : 46.7 55.4 55.0 54.5 54.5 56.2 56.3 56.1 55.1 : : : : :42 Other produced assets : : : : : : : : : : : : : : :43 Non-produced assets : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : : : : :

44=45+..+49 Financial assets 20.8 19.9 20.4 24.8 28.6 34.2 32.7 34.5 32.3 32.1 31.1 31.6 31.8 -5.0 26.4 10.345 Currency and deposits 2.2 3.8 2.1 4.0 4.3 4.0 4.6 4.6 4.5 4.4 4.0 4.1 4.7 -0.1 3.1 1.746 Debt securities 2.8 2.4 1.9 2.6 1.9 3.0 3.3 3.2 2.8 3.0 3.8 4.5 4.1 -0.1 4.0 0.247 Loans 2.2 1.6 2.0 3.6 4.5 8.8 8.3 8.4 8.2 8.3 8.1 8.6 8.4 -3.5 10.4 1.548 Shares and other equity 9.1 7.9 9.8 9.3 11.4 12.5 11.0 12.7 11.2 11.0 9.9 9.3 9.2 0.0 2.7 6.5

48a of which, Investment fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 : :49 Other financial assets 4.6 4.2 4.6 5.3 6.4 5.9 5.5 5.6 5.5 5.5 5.4 5.2 5.3 -1.4 6.2 0.5

50=51+..+54 Liabilities 51.0 44.8 48.1 62.3 75.8 86.8 100.6 104.2 100.0 110.1 109.6 119.5 117.3 -5.0 114.6 7.751 Currency and deposits 8.0 7.1 6.3 7.6 8.3 8.0 8.2 7.8 7.1 7.8 8.2 8.8 9.2 -0.1 9.3 -52 Debt securities 33.9 30.7 33.8 43.1 57.5 71.3 84.8 87.5 84.5 94.9 93.4 103.4 100.9 -0.1 100.7 0.253 Loans 2.8 2.9 3.4 3.6 1.9 1.8 1.9 1.8 1.7 1.6 1.8 1.7 2.0 -3.5 1.0 4.554 Other liabilities 6.3 4.1 4.6 8.0 8.1 5.7 5.7 7.2 6.6 5.7 6.2 5.7 5.2 -1.4 3.5 3.1

55=44-50 Financial net worth -30.2 -24.9 -27.6 -37.5 -47.1 -52.6 -67.9 -69.8 -67.7 -78.0 -78.5 -88.0 -85.5 -88.1 2.656=39-50=40+55 Net worth : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) -5.2 1.4 -3.1 -5.2 -10.1 -9.3 -7.5 -8.1 -5.4 -5.4 -4.2 -2.9 -1.8 -1.4 -0.4

58=64(t)-64(t-1) Change in Government Debt 6.3 -0.7 3.3 9.0 12.7 13.5 8.2 5.7 4.3 5.7 3.2 3.3 2.7 -0.2 2.6 0.259 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) 1.2 0.7 0.2 3.8 2.6 4.2 0.7 -2.4 -1.1 0.3 -1.0 0.4 0.9 -0.2 1.2 -0.2

60=23 Net acquisition of financial assets -0.3 2.9 0.6 4.1 3.7 0.5 0.7 1.0 -1.0 1.0 -0.1 1.3 1.2 -0.4 1.6 0.1

61=(-)33 Incurrence in liabilities not in government debt -0.2 -2.3 -0.1 -0.8 -0.7 0.0 0.1 -2.4 -0.2 -0.3 -0.2 0.1 -0.1 0.3 -0.1 -0.3

62Valuation effects and other changes in volume in government debt -0.2 0.0 0.0 0.0 -0.4 3.7 -0.1 -0.7 0.1 -0.1 -0.7 -0.9 -0.3 0.0 -0.3 0.0

63 Statistical discrepancies 1.8 0.1 -0.3 0.5 0.0 0.0 0.0 -0.4 0.0 -0.4 0.0 0.0 0.0 0.0 -0.1 0.064=65+66+69 Government debt (nominal / face value) : 37.0 39.8 49.7 63.7 75.2 80.8 84.1 85.2 87.0 87.9 87.9 87.4 -3.6 86.3 4.7

65 . Currency and deposits : 7.1 6.3 7.6 8.3 8.0 8.2 7.8 7.1 7.8 8.2 8.8 9.2 -0.1 9.3 -66=67+68 . Debt securities : 27.0 30.1 38.5 53.5 65.5 70.7 74.5 76.3 77.6 77.9 77.4 76.1 -0.1 76.0 0.2

67 .. short term : 0.2 1.7 2.0 3.7 3.4 4.2 2.9 2.0 3.3 4.2 4.8 3.9 0.0 3.9 0.068 .. long term : 26.8 28.4 36.5 49.8 62.0 66.5 71.6 74.3 74.3 73.7 72.6 72.3 0.0 72.1 0.2

69=70+71 . Loans : 2.9 3.4 3.6 1.9 1.8 1.9 1.8 1.7 1.6 1.8 1.7 2.0 -3.5 1.0 4.570 .. short term : 2.4 2.3 2.3 0.5 0.4 0.5 0.4 0.4 0.4 0.5 0.5 0.7 0.0 0.7 0.071 .. long term : 0.5 1.1 1.2 1.3 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.3 -3.5 0.3 4.472 Intergovernmental lending (asset)* : : : : 0.0 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 : :73 Intergovernmental lending (borrowing)* : : : : 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 : :

74=45+46+48a Government liquid assets 5.0 6.2 4.0 6.5 6.2 7.0 7.9 7.8 7.4 7.4 7.8 8.6 8.8 : :


77=20+18-76 Net savings and capital transfers -4.3 1.8 -1.5 -3.6 -8.3 -7.7 -6.2 -7.1 -4.4 -4.3 -3.2 -2.0 -0.8 -0.7 -0.178 GDP



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2=3+4+5 1.7 4.5 7.6 7.1 6.3 5.7 4.8 -10.4 8.3 5.3 0.2 3.9 3.5 3.8 5.4 5.13 4.6 4.9 5.3 2.2 5.6 5.2 -1.2 -6.1 15.1 8.2 2.8 4.5 5.2 3.3 4.6 4.44 -0.6 4.2 9.5 11.1 6.7 6.0 0.5 -6.0 4.1 3.0 -2.2 3.0 2.3 4.1 6.2 5.55 -0.6 1.5 18.8 9.7 13.5 8.2 548.4 -83.2 -37.2 11.1 6.6 36.0 -8.7 14.3 8.1 12.16 2.2 11.2 9.8 7.7 5.3 4.4 5.3 -1.8 2.5 3.4 2.3 2.0 2.9 5.1 6.2 6.07 10.6 7.2 25.0 15.0 16.0 7.2 3.5 8.3 1.4 -4.8 -4.0 5.3 4.1 2.7 3.1 6.78 -18.1 -8.4 4.1 2.1 0.2 26.5 19.5 -22.8 -6.3 3.4 36.7 132.5 -28.1 -0.7 1.6 11.89 25.1 11.0 -21.2 728.9 -80.0 18.3 13.0 1.4 -28.3 -44.1 42.5 112.3 39.1 -20.8 -20.2 12.3

10=11+..+18 7.7 9.2 8.3 9.1 4.2 5.5 11.3 3.7 3.8 0.0 2.6 -0.1 2.5 0.9 1.9 2.611 11.0 8.9 11.4 7.8 9.3 6.4 10.8 7.4 -0.5 -1.7 1.5 4.9 3.8 -0.8 0.2 0.012 6.9 9.9 9.3 7.7 5.5 3.0 2.6 3.4 3.2 -0.8 0.4 -2.4 2.2 1.5 3.3 3.413 -10.1 4.2 7.5 12.1 6.0 15.3 3.4 -17.3 60.4 14.0 -6.4 2.4 -1.3 -10.5 9.4 15.414 25.1 17.9 -4.8 15.5 20.9 2.4 -0.6 6.1 -2.2 -12.9 13.5 -1.7 11.0 17.7 13.0 20.915 6.6 8.2 7.3 4.8 4.0 6.0 7.0 9.8 4.1 3.1 4.3 1.4 2.6 2.8 1.7 0.9

15a 4.9 7.7 6.7 4.4 3.3 6.7 7.2 10.9 4.4 3.1 4.7 1.7 2.3 2.1 1.3 0.616 23.2 7.5 4.0 10.4 3.1 3.5 -1.3 9.0 13.1 -6.5 0.5 3.9 -9.2 -4.1 -1.3 -5.217 5.4 30.0 -21.7 29.7 -0.3 17.2 185.2 -33.7 -33.0 -20.7 64.4 -42.8 10.0 15.2 -8.8 10.518 9.0 10.3 22.9 33.2 -14.0 0.7 28.2 7.5 -0.5 -5.3 -5.4 -0.9 10.7 -0.4 0.7 5.719 9.2 10.6 21.2 32.8 -13.8 5.7 21.7 8.3 -0.4 -4.5 -4.4 -1.1 11.3 0.4 2.2 3.7

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 -1.2 1.2 2.8 3.1 4.1 4.1 20.8 14.4 1.9 2.2 3.3 -3.0 3.2 -0.3 4.2 4.1

24 -10.4 7.3 2.5 -3.1 27.3 27.9 24.7 5.4 -16.5 19.0 4.2 7.0 8.0 -4.4 0.9 22.925 6.1 -8.1 7.3 14.3 9.5 1.9 17.7 -19.7 22.3 16.1 3.3 -6.6 12.7 29.7 8.8 -1.726 6.8 10.0 7.3 11.1 8.0 16.3 63.1 21.2 12.8 -2.2 3.4 2.3 5.6 0.0 10.3 3.027 -3.6 -3.7 -3.5 -3.3 -2.3 -5.4 7.5 24.9 0.1 0.0 1.8 -12.5 -3.6 -7.1 -1.7 -2.428 2.8 9.1 12.6 12.0 2.9 4.4 21.8 14.8 3.1 -5.1 5.3 4.6 4.8 -0.3 5.3 7.4

29=30+..+33 4.1 7.8 7.9 7.9 7.1 7.0 20.4 21.5 13.4 9.7 8.9 4.3 6.3 3.9 3.9 2.630 2.9 3.5 3.4 5.5 6.0 8.5 19.9 6.7 -4.5 6.4 -1.6 -5.4 14.6 7.6 11.5 9.131 4.3 10.0 10.6 9.6 8.5 7.9 20.9 32.3 18.4 11.4 7.9 5.4 5.9 3.4 3.6 1.932 13.1 9.9 26.5 8.2 -2.3 2.2 18.5 -48.1 -4.9 -4.4 -0.3 3.8 1.6 15.8 2.0 15.133 1.0 2.8 -6.3 1.8 5.1 0.5 18.8 8.8 0.2 -1.8 42.8 2.6 4.1 3.6 -0.9 1.7


35=44(t)-44(t-1)-23 5.3 6.0 5.7 8.5 -2.2 2.3 6.4 -2.2 21.7 -3.2 5.4 0.3 1.1 -0.2 1.2 0.436=50(t)-50(t-1)-29 8.0 -3.5 4.7 -1.6 -3.4 1.9 10.2 -3.3 4.9 10.3 -2.1 -4.6 9.0 -1.5 9.4 -0.8

37=35-36 = 55(t)-55(t-1)-22 10.1 -10.0 3.9 -8.6 -4.4 1.6 12.8 -4.0 -5.2 19.1 -5.7 -7.1 12.8 -2.1 12.6 -1.2

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 3.8 8.4 11.1 9.8 7.1 6.9 -1.5 -3.5 3.3 6.8 3.1 3.6 2.9 : : :42 : : : : : : : : : : : : : : : :43 : : :

44=45+..+49 4.2 7.2 8.5 11.7 1.9 6.4 27.2 12.2 23.5 -1.1 8.6 -2.7 4.3 -0.5 5.5 4.545 -8.3 8.0 3.8 -3.5 26.8 28.6 30.4 4.4 -1.9 17.8 2.3 2.9 0.9 -5.5 5.5 19.046 7.8 -7.4 3.9 14.3 1.8 5.5 45.0 -26.4 56.4 14.9 0.4 -9.2 12.0 29.5 24.5 -5.147 4.2 11.3 4.6 11.4 7.9 16.6 62.3 21.1 100.7 -2.0 3.5 2.3 5.6 0.0 10.3 1.948 8.0 8.9 8.8 14.1 -5.9 -1.3 16.4 19.7 13.0 -9.2 19.3 -8.0 2.3 -7.6 -2.5 3.3

48a 12277.8 9.6 -27.4 -29.8 57.9 -1.449 2.8 8.9 14.5 13.8 4.4 4.4 19.7 17.6 -5.1 -3.3 5.3 1.0 5.3 0.4 -0.4 7.6

50=51+..+54 12.2 4.4 12.6 6.3 3.7 8.9 30.7 18.3 18.3 20.0 6.8 -0.3 15.3 2.3 13.3 1.951 2.8 3.4 3.4 5.5 5.9 8.5 19.9 6.7 -0.7 6.3 -1.6 -5.4 14.5 7.6 11.6 9.152 7.2 7.4 15.3 12.6 5.5 8.5 27.0 29.7 28.1 23.2 6.2 0.4 17.7 1.2 15.0 1.353 15.4 9.6 34.4 8.2 -2.6 2.4 20.4 -49.0 -1.7 8.6 -3.4 0.2 0.6 14.9 -1.7 21.754 47.6 -7.6 1.4 -24.7 -7.8 17.8 81.3 -2.3 -27.2 3.3 30.5 -3.7 -9.7 11.3 -5.3 -4.8

55=44-50 18.4 2.4 15.6 2.6 5.0 10.6 33.1 22.3 15.1 33.8 5.9 0.9 20.6 3.5 16.4 0.956=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 5.0 9.5 13.7 9.1 8.0 7.8 22.0 24.8 21.9 11.3 7.2 5.3 7.0 3.8 3.9 3.259 = 57+58 = 60+..+63 -0.7 -0.2 4.7 0.4 0.7 1.0 9.3 5.1 6.8 0.9 -3.1 -1.4 0.4 -1.2 0.5 1.0

60=23 -0.6 0.7 1.5 1.6 2.1 2.0 9.9 7.2 0.8 1.0 1.3 -1.2 1.2 -0.1 1.5 1.5

61=(-)33 -0.2 -0.6 1.2 -0.3 -0.6 -0.1 -2.0 -1.4 0.0 0.1 -3.0 -0.2 -0.3 -0.2 0.1 -0.1

62 0.4 0.1 0.3 -0.1 0.0 -0.2 0.1 -0.8 6.0 -0.1 -0.9 0.1 -0.1 -0.9 -1.0 -0.3

63 -0.3 -0.3 1.7 -0.7 -0.8 -0.7 1.3 0.1 0.0 -0.1 -0.6 0.0 -0.4 0.0 -0.1 0.064=65+66+69 5.0 9.5 13.7 9.1 8.0 7.8 22.0 24.8 21.9 11.3 7.2 5.3 7.0 3.8 3.9 3.2

65 2.8 3.4 3.4 5.5 5.9 8.5 19.9 6.7 -0.7 6.3 -1.6 -5.4 14.5 7.6 11.6 9.166=67+68 4.6 11.0 14.2 9.9 9.6 8.2 22.6 35.3 26.2 11.9 8.5 6.5 6.4 3.2 3.3 2.1

67 96.0 12.4 21.0 -15.8 -13.7 -13.0 72.1 82.5 -5.0 27.3 -28.1 -29.2 71.0 32.1 17.9 -15.868 1.1 10.9 13.7 12.0 11.0 9.3 20.7 32.7 28.6 11.1 10.9 8.0 4.7 1.9 2.4 3.2

69=70+71 15.4 9.6 34.4 8.2 -2.6 2.4 20.4 -49.0 -1.7 8.6 -3.4 0.2 0.6 14.9 -1.7 21.770 14.9 1.7 27.0 7.4 -9.4 -1.5 30.0 -77.7 -20.9 28.9 -18.3 4.9 -7.8 57.1 -13.1 63.471 16.9 36.8 53.5 9.9 11.6 9.0 5.7 5.0 6.0 2.6 2.2 -1.2 3.3 3.0 3.2 6.572 : : : : : : : : 400.2 60.0 0.0 0.0 0.0 0.073 : : : : : : : :

74=45+46+48a -1.5 0.8 3.8 4.1 15.0 19.0 35.7 -7.7 16.4 16.6 2.4 -1.9 4.9 8.5 14.9 6.3


77=20+18-7678 4.7 5.8 4.9 5.8 5.6 5.2 2.5 -2.7 3.3 3.6 3.0 4.0 4.7 2.8 3.9 3.8

79 2.1 2.7 2.6 1.4 0.0 -0.5 0.0 1.5 -0.1 -2.5 -4.7 -2.0 -0.3 -0.9 -0.3 0.2



Iceland



Government revenue and expenditure1=2+6+7+8+9 Total revenue : 298,603 484,428 655,803 617,098 641,141 682,304 740,768

2=3+4+5 Taxes : 234,890 384,558 503,018 462,755 477,979 519,116 561,5673 . Indirect taxes : 124,228 195,761 231,911 210,406 220,510 233,055 254,6894 . Direct taxes : 109,785 187,684 269,474 250,395 254,710 284,592 304,7355 . Capital taxes : 877 1,113 1,633 1,954 2,759 1,469 2,1436 Social contributions : 19,680 32,777 41,644 45,912 63,599 66,820 64,8827 Sales (incl . own account capital formation) : 22,983 35,921 47,491 46,485 48,930 49,787 56,5848 Other current revenue : 20,375 30,266 63,420 61,731 50,362 46,377 57,5399 Capital revenue : 674 906 230 215 272 204 196

10=11+..+18 Total expenditure : 289,946 437,351 858,162 771,326 799,305 777,342 807,22911 Intermediate consumption : 70,794 109,787 174,270 191,444 195,315 206,099 213,88712 Compensation of employees : 96,163 155,385 208,885 216,455 219,395 229,037 242,02413 Interest : 23,376 22,537 47,518 95,894 77,238 70,481 84,06614 Subsidies : 12,251 20,808 27,594 28,286 27,762 29,154 30,48515 Social benefits : 38,282 63,645 89,778 122,363 120,956 138,352 134,950

15a of which other than transfers in kind : 38,282 63,645 89,778 122,363 120,956 138,352 134,95016 Other current expenditure : 8,981 16,212 30,251 32,577 30,027 27,956 27,47517 Capital transfers payable : 7,055 9,390 204,515 19,870 72,980 29,821 26,65618 Capital investments : 33,042 39,585 75,351 64,437 55,632 46,441 47,68619 of which, gross fixed capital formation : 33,042 39,585 75,351 64,437 55,632 46,441 47,686

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : 8,657 47,078 -202,358 -154,228 -158,164 -95,038 -66,461








37=35-36 = 55(t)-55(t-1)-22


38=34+37 = 56(t)-56(t-1)-77+21








Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : : : : : : :

58=64(t)-64(t-1) Change in Government Debt : : : : : : : :59 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : :




63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : : : : : : : :

65 . Currency and deposits : : : : : : : :66=67+68 . Debt securities : : : : : : : :

67 .. short term : : : : : : : :68 .. long term : : : : : : : :

69=70+71 . Loans : : : : : : : :70 .. short term : : : : : : : :71 .. long term : : : : : : : :72 Intergovernmental lending (asset)* : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : :


Table C - Memorandum items75 Government final consumption expenditure : 159,233 251,806 372,790 406,476 412,890 433,432 450,04176 Consumption of fixed capital : 15,258 22,554 37,126 45,062 47,110 48,083 50,713

77=20+18-76 Net savings and capital transfers : 26,442 64,108 -164,133 -134,853 -149,642 -96,680 -69,48978 GDP 454,013 707,830 1,058,882 1,574,729 1,627,657 1,672,719 1,757,695 1,841,729




Iceland



Government revenue and expenditure1=2+6+7+8+9 795,732 906,988 930,966 1,418,289 1,112,651 -269,489 815,453 337,033 229,654

2=3+4+5 606,243 700,831 732,295 1,180,239 875,236 615,592 259,643 03 266,922 314,239 334,900 349,360 379,882 328,280 51,602 04 336,651 383,848 394,115 442,566 490,825 282,783 208,041 05 2,671 2,743 3,280 388,313 4,529 4,529 0 06 69,899 73,432 79,707 85,370 89,209 89,209 0 07 57,455 60,840 66,592 68,547 72,425 39,473 31,243 1,7098 61,898 71,635 52,111 83,919 75,555 -265,269 70,876 42,272 227,6759 237 249 261 214 227 -4,220 302 3,875 270

10=11+..+18 830,530 908,485 949,126 1,109,927 1,111,713 -269,489 784,955 372,330 223,91811 222,234 230,421 241,602 253,930 266,184 118,489 104,473 43,22212 256,169 275,652 307,149 331,666 363,024 179,680 156,163 27,18113 86,505 94,411 101,708 98,296 99,330 0 88,213 11,066 5114 31,070 29,477 29,885 34,556 38,130 33,110 4,616 40415 133,645 139,441 141,699 147,601 171,579 14,453 11,820 145,307

15a 133,645 139,441 141,699 147,601 171,579 14,453 11,820 145,30716 29,534 30,532 32,039 39,865 42,967 -265,269 287,886 12,891 7,45917 16,466 46,822 31,034 136,233 45,786 -4,220 11,839 37,897 27018 54,908 61,728 64,011 67,781 84,712 51,284 33,403 2519 54,908 61,728 64,011 67,781 84,712 51,284 33,403 25

Government deficit

20=1-10 -34,798 -1,496 -18,160 308,362 938 30,498 -35,296 5,736


21=20-22 : : : : : : : :

22=23-29 : : : : : : : :23=24+..+28 : : : : : : : : :

24 : : : : : : : : :25 : : : : : : : : :26 : : : : : : : : :27 : : : : : : : : :28 : : : : : : : : :

29=30+..+33 : : : : : : : : :30 : : : : : : : : :31 : : : : : : : : :32 : : : : : : : : :33 : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : :


40=41+42+43 : : : : : : : :41 : : : : : : : :42 : : : : : : : :43 : : : : : : : :

44=45+..+49 : : : : : : : : :45 : : : : : : : : :46 : : : : : : : : :47 : : : : : : : : :48 : : : : : : : : :

48a : : : : : : : :49 : : : : : : : : :

50=51+..+54 : : : : : : : : :51 : : : : : : : : :52 : : : : : : : : :53 : : : : : : : : :54 : : : : : : : : :

55=44-50 : : : : : : : :56=39-50=40+55 : : : : : : : :

Table B - Government debt and link with the deficit57=20 : : : : : : : :

58=64(t)-64(t-1) : : : : : : : : :59 = 57+58 = 60+..+63 : : : : : : : : :

60=23 : : : : : : : : :

61=(-)33 : : : : : : : : :

62 : : : : : : : : :

63 : : : : : : : : :64=65+66+69 : : : : : : : : :

65 : : : : : : : : :66=67+68 : : : : : : : : :

67 : : : : : : : : :68 : : : : : : : : :

69=70+71 : : : : : : : : :70 : : : : : : : : :71 : : : : : : : : :72 : : : : : : : :73 : : : : : : : :

74=45+46+48a : : : : : : : :


77=20+18-76 -31,062 9,139 -7,257 322,604 32,478 42,988 -16,271 5,76178 1,958,961 2,073,565 2,288,020 2,502,735 2,615,220

79 : : : : :

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Iceland



Government revenue and expenditure1=2+6+7+8+9 Total revenue : 42.2 45.7 41.6 37.9 38.3 38.8 40.2 40.6 43.7 40.7 56.7 42.5 -10.3 31.2 12.9 8.8

2=3+4+5 Taxes : 33.2 36.3 31.9 28.4 28.6 29.5 30.5 30.9 33.8 32.0 47.2 33.5 23.5 9.9 0.03 . Indirect taxes : 17.6 18.5 14.7 12.9 13.2 13.3 13.8 13.6 15.2 14.6 14.0 14.5 12.6 2.0 0.04 . Direct taxes : 15.5 17.7 17.1 15.4 15.2 16.2 16.5 17.2 18.5 17.2 17.7 18.8 10.8 8.0 0.05 . Capital taxes : 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 15.5 0.2 0.2 0.0 0.06 Social contributions : 2.8 3.1 2.6 2.8 3.8 3.8 3.5 3.6 3.5 3.5 3.4 3.4 3.4 0.0 0.07 Sales (incl. own account capital formation) : 3.2 3.4 3.0 2.9 2.9 2.8 3.1 2.9 2.9 2.9 2.7 2.8 1.5 1.2 0.18 Other current revenue : 2.9 2.9 4.0 3.8 3.0 2.6 3.1 3.2 3.5 2.3 3.4 2.9 -10.1 2.7 1.6 8.79 Capital revenue : 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.2 0.0 0.1 0.0

10=11+..+18 Total expenditure : 41.0 41.3 54.5 47.4 47.8 44.2 43.8 42.4 43.8 41.5 44.3 42.5 -10.3 30.0 14.2 8.611 Intermediate consumption : 10.0 10.4 11.1 11.8 11.7 11.7 11.6 11.3 11.1 10.6 10.1 10.2 4.5 4.0 1.712 Compensation of employees : 13.6 14.7 13.3 13.3 13.1 13.0 13.1 13.1 13.3 13.4 13.3 13.9 6.9 6.0 1.013 Interest : 3.3 2.1 3.0 5.9 4.6 4.0 4.6 4.4 4.6 4.4 3.9 3.8 0.0 3.4 0.4 0.014 Subsidies : 1.7 2.0 1.8 1.7 1.7 1.7 1.7 1.6 1.4 1.3 1.4 1.5 1.3 0.2 0.015 Social benefits : 5.4 6.0 5.7 7.5 7.2 7.9 7.3 6.8 6.7 6.2 5.9 6.6 0.6 0.5 5.6

15a of which other than transfers in kind : 5.4 6.0 5.7 7.5 7.2 7.9 7.3 6.8 6.7 6.2 5.9 6.6 0.6 0.5 5.616 Other current expenditure : 1.3 1.5 1.9 2.0 1.8 1.6 1.5 1.5 1.5 1.4 1.6 1.6 -10.1 11.0 0.5 0.317 Capital transfers payable : 1.0 0.9 13.0 1.2 4.4 1.7 1.4 0.8 2.3 1.4 5.4 1.8 -0.2 0.5 1.4 0.018 Capital investments : 4.7 3.7 4.8 4.0 3.3 2.6 2.6 2.8 3.0 2.8 2.7 3.2 2.0 1.3 0.019 of which, gross fixed capital formation : 4.7 3.7 4.8 4.0 3.3 2.6 2.6 2.8 3.0 2.8 2.7 3.2 2.0 1.3 0.0

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) : 1.2 4.4 -12.9 -9.5 -9.5 -5.4 -3.6 -1.8 -0.1 -0.8 12.3 0.0 1.2 -1.3 0.2


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : : : : : : : : : : : : : : :

22=23-29 Net financial transactions : : : : : : : : : : : : : : : :23=24+..+28 Net acquisition of financial assets : : : : : : : : : : : : : : : : :

24 Currency and deposits : : : : : : : : : : : : : : : : :25 Debt securities : : : : : : : : : : : : : : : : :26 Loans : : : : : : : : : : : : : : : : :27 Shares and other equity : : : : : : : : : : : : : : : : :28 Other financial assets : : : : : : : : : : : : : : : : :

29=30+..+33 Net incurrence of liabilities : : : : : : : : : : : : : : : : :30 Currency and deposits : : : : : : : : : : : : : : : : :31 Debt securities : : : : : : : : : : : : : : : : :32 Loans : : : : : : : : : : : : : : : : :33 Other liabilities : : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 Other changes in financial assets : : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 Other changes in liabilities : : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : : : : : : : : : : : : : : : :45 Currency and deposits : : : : : : : : : : : : : : : : :46 Debt securities : : : : : : : : : : : : : : : : :47 Loans : : : : : : : : : : : : : : : : :48 Shares and other equity : : : : : : : : : : : : : : : : :

48a of which, Investment fund shares : : : : : : : : : : : : : : : :49 Other financial assets : : : : : : : : : : : : : : : : :

50=51+..+54 Liabilities : : : : : : : : : : : : : : : : :51 Currency and deposits : : : : : : : : : : : : : : : : :52 Debt securities : : : : : : : : : : : : : : : : :53 Loans : : : : : : : : : : : : : : : : :54 Other liabilities : : : : : : : : : : : : : : : : :

55=44-50 Financial net worth : : : : : : : : : : : : : : : :56=39-50=40+55 Net worth : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : : : : : : : : : : : : : : :

58=64(t)-64(t-1) Change in Government Debt : : : : : : : : : : : : : : : : :59 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : : : : : : : : : : :

60=23 Net acquisition of financial assets : : : : : : : : : : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : : : : : : : : :

62Valuation effects and other changes in volume in government debt : : : : : : : : : : : : : : : : :

63 Statistical discrepancies : : : : : : : : : : : : : : : : :64=65+66+69 Government debt (nominal / face value) : : : : : : : : : : : : : : : : :

65 . Currency and deposits : : : : : : : : : : : : : : : : :66=67+68 . Debt securities : : : : : : : : : : : : : : : : :

67 .. short term : : : : : : : : : : : : : : : : :68 .. long term : : : : : : : : : : : : : : : : :

69=70+71 . Loans : : : : : : : : : : : : : : : : :70 .. short term : : : : : : : : : : : : : : : : :71 .. long term : : : : : : : : : : : : : : : : :72 Intergovernmental lending (asset)* : : : : : : : : : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : : : : : : : : : :

74=45+46+48a Government liquid assets : : : : : : : : : : : : : : : :

Table C - Memorandum items75 Government final consumption expenditure : 22.5 23.8 23.7 25.0 24.7 24.7 24.4 24.1 23.9 23.4 22.8 23.3 11.4 9.3 2.676 Consumption of fixed capital : 2.2 2.1 2.4 2.8 2.8 2.7 2.8 2.6 2.5 2.3 2.1 2.0 1.5 0.5 0.0

77=20+18-76 Net savings and capital transfers : 3.7 6.1 -10.4 -8.3 -8.9 -5.5 -3.8 -1.6 0.4 -0.3 12.9 1.2 1.6 -0.6 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Iceland



Government revenue and expenditure1=2+6+7+8+9 5.3 5.7 13.8 18.0 16.0 11.4 4.7 -5.9 3.9 6.4 8.6 7.4 14.0 2.6 52.3 -21.5

2=3+4+5 5.4 6.8 14.5 18.6 16.3 10.3 2.0 -8.0 3.3 8.6 8.2 8.0 15.6 4.5 61.2 -25.83 5.4 8.6 17.7 18.1 16.0 7.5 -5.0 -9.3 4.8 5.7 9.3 4.8 17.7 6.6 4.3 8.74 5.4 5.2 11.3 19.4 16.6 12.9 9.1 -7.1 1.7 11.7 7.1 10.5 14.0 2.7 12.3 10.95 18.7 -4.9 24.3 -3.0 12.0 70.2 -23.1 19.7 41.2 -46.7 45.9 24.6 2.7 19.6 11738.1 -98.86 6.8 11.4 8.9 15.6 17.2 3.1 5.2 10.3 38.5 5.1 -2.9 7.7 5.1 8.5 7.1 4.57 6.7 6.9 11.1 10.9 4.7 9.1 15.7 -2.1 5.3 1.8 13.7 1.5 5.9 9.5 2.9 5.78 0.2 -11.1 15.4 19.9 27.5 35.7 21.1 -2.7 -18.4 -7.9 24.1 7.6 15.7 -27.3 61.0 -10.09 22.1 -42.1 -62.0 326.3 -57.2 -31.1 -13.9 -6.5 26.2 -24.8 -4.2 21.1 5.2 4.7 -18.0 6.0

10=11+..+18 9.9 6.3 6.6 5.8 12.5 13.7 53.4 -10.1 3.6 -2.7 3.8 2.9 9.4 4.5 16.9 0.211 15.0 4.6 8.4 6.3 13.4 15.4 21.3 9.9 2.0 5.5 3.8 3.9 3.7 4.9 5.1 4.812 13.0 7.2 6.1 10.3 11.4 8.1 11.6 3.6 1.4 4.4 5.7 5.8 7.6 11.4 8.0 9.513 -5.7 -3.9 -5.4 -1.0 12.0 30.6 44.2 101.8 -19.5 -8.7 19.3 2.9 9.1 7.7 -3.4 1.114 7.0 7.4 5.9 21.5 -2.2 15.6 17.3 2.5 -1.9 5.0 4.6 1.9 -5.1 1.4 15.6 10.315 19.4 17.4 5.7 0.2 4.7 13.1 19.1 36.3 -1.2 14.4 -2.5 -1.0 4.3 1.6 4.2 16.2

15a 19.4 17.4 5.7 0.2 4.7 13.1 19.1 36.3 -1.2 14.4 -2.5 -1.0 4.3 1.6 4.2 16.216 21.4 9.4 2.4 13.2 16.2 22.3 31.3 7.7 -7.8 -6.9 -1.7 7.5 3.4 4.9 24.4 7.817 -13.9 13.3 -1.6 9.4 -4.7 4.6 2083.0 -90.3 267.3 -59.1 -10.6 -38.2 184.4 -33.7 339.0 -66.418 -5.1 -3.5 16.7 -8.0 37.4 18.5 16.9 -14.5 -13.7 -16.5 2.7 15.1 12.4 3.7 5.9 25.019 -5.1 -3.5 16.7 -8.0 37.4 18.5 16.9 -14.5 -13.7 -16.5 2.7 15.1 12.4 3.7 5.9 25.0

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : : : : : : : : : : : : : :

24 : : : : : : : : : : : : : : : :25 : : : : : : : : : : : : : : : :26 : : : : : : : : : : : : : : : :27 : : : : : : : : : : : : : : : :28 : : : : : : : : : : : : : : : :

29=30+..+33 : : : : : : : : : : : : : : : :30 : : : : : : : : : : : : : : : :31 : : : : : : : : : : : : : : : :32 : : : : : : : : : : : : : : : :33 : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : : : : : : : : : : : : : :45 : : : : : : : : : : : : : : : :46 : : : : : : : : : : : : : : : :47 : : : : : : : : : : : : : : : :48 : : : : : : : : : : : : : : : :

48a : : : : : : : : : : : : : : : :49 : : : : : : : : : : : : : : : :

50=51+..+54 : : : : : : : : : : : : : : : :51 : : : : : : : : : : : : : : : :52 : : : : : : : : : : : : : : : :53 : : : : : : : : : : : : : : : :54 : : : : : : : : : : : : : : : :

55=44-50 : : : : : : : : : : : : : : : :56=39-50=40+55 : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 : : : : : : : : : : : : : : : :

58=64(t)-64(t-1) : : : : : : : : : : : : : : : :59 = 57+58 = 60+..+63 : : : : : : : : : : : : : : : :

60=23 : : : : : : : : : : : : : : : :

61=(-)33 : : : : : : : : : : : : : : : :

62 : : : : : : : : : : : : : : : :

63 : : : : : : : : : : : : : : : :64=65+66+69 : : : : : : : : : : : : : : : :

65 : : : : : : : : : : : : : : : :66=67+68 : : : : : : : : : : : : : : : :

67 : : : : : : : : : : : : : : : :68 : : : : : : : : : : : : : : : :

69=70+71 : : : : : : : : : : : : : : : :70 : : : : : : : : : : : : : : : :71 : : : : : : : : : : : : : : : :72 : : : : : : : : : : : : : : : :73 : : : : : : : : : : : : : : : :

74=45+46+48a : : : : : : : : : : : : : : : :

Table C - Memorandum items75 14.3 5.9 6.3 7.9 13.6 11.2 17.2 9.0 1.6 5.0 3.8 4.9 5.1 7.8 6.6 6.976 8.2 4.8 4.5 4.7 15.4 8.9 31.0 21.4 4.5 2.1 5.5 0.9 -0.2 3.9 0.8 -0.7

77=20+18-7678 6.6 2.8 10.9 9.0 14.1 14.1 14.3 3.4 2.8 5.1 4.8 6.4 5.9 10.3 9.4 4.5

79 : : : : : : : : : : : : : : : :



Norway



Government revenue and expenditure1=2+6+7+8+9 Total revenue 514,503 861,544 1,131,373 1,535,671 1,371,001 1,450,867 1,598,758 1,683,598


10=11+..+18 Total expenditure 484,126 633,821 836,626 1,048,571 1,119,801 1,165,716 1,223,285 1,273,04711 Intermediate consumption 68,600 89,704 113,945 140,361 156,259 163,191 168,831 172,15812 Compensation of employees 132,002 183,787 244,498 309,927 331,894 349,987 372,394 395,51613 Interest 24,864 23,185 31,535 51,404 31,063 26,908 25,017 21,63114 Subsidies 35,102 31,615 39,903 44,989 49,311 52,383 53,311 55,60315 Social benefits 158,895 218,552 299,183 346,807 378,426 401,669 425,231 447,720


Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 30,377 227,723 294,747 487,100 251,200 285,151 375,473 410,551


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 15,384 19,912 3,209 2,897 560 13,595 -7,184

22=23-29 Net financial transactions : 212,339 274,835 483,891 248,303 284,591 361,878 417,73523=24+..+28 Net acquisition of financial assets : 341,249 309,304 298,092 62,070 376,903 40,532 496,379

24 Currency and deposits : 61,002 27,490 -15,991 -15,257 9,926 -50,068 67,33025 Debt securities : 103,604 50,624 200,668 -333,533 176,632 15,723 158,12626 Loans : 58,049 151,971 -514,657 106,895 65,535 -195,901 32,69427 Shares and other equity : 64,627 55,362 553,951 346,631 89,313 248,048 234,11528 Other financial assets : 53,967 23,857 74,121 -42,666 35,497 22,730 4,114

29=30+..+33 Net incurrence of liabilities : 128,910 34,469 -185,799 -186,233 92,312 -321,346 78,64430 Currency and deposits : - - - - - - -31 Debt securities : 20,542 6,822 68,716 208,973 22,841 -81,178 68,86332 Loans : 101,160 44,064 -286,215 -362,333 52,611 -220,920 12,52433 Other liabilities : 7,208 -16,417 31,700 -32,873 16,860 -19,248 -2,743


35=44(t)-44(t-1)-23 Other changes in financial assets : 75,569 306,015 -239,978 209,544 207,474 -130,815 140,51436=50(t)-50(t-1)-29 Other changes in liabilities : -6,625 9,710 293,006 -58,725 -6,042 11,214 13,800

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 82,194 296,305 -532,984 268,269 213,516 -142,029 126,714

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : :41 Fixed assets : : : : : : : 1,519,12842 Other produced assets : : : : : : : :43 Non-produced assets : : : : : : : :

44=45+..+49 Financial assets 739,828 1,552,642 3,364,908 4,647,869 4,919,483 5,503,860 5,413,577 6,050,47045 Currency and deposits 121,239 160,589 175,001 225,703 208,152 219,305 169,100 236,49046 Debt securities 27,947 280,590 735,286 1,675,661 1,175,292 1,339,636 1,415,479 1,533,02347 Loans 210,175 314,250 827,307 605,104 701,353 767,670 572,555 605,45948 Shares and other equity 275,202 609,613 1,374,205 1,846,075 2,554,400 2,869,908 2,919,433 3,314,041

48a of which, Investment fund shares 2,466 4,205 14,592 13,339 14,964 14,842 13,691 13,15349 Other financial assets 105,265 187,600 253,109 295,326 280,286 307,341 337,010 361,457

50=51+..+54 Liabilities 359,214 485,708 933,100 1,412,794 1,167,836 1,254,106 943,974 1,036,41851 Currency and deposits - - - - - - - -52 Debt securities 237,648 203,580 232,831 313,492 516,285 542,015 466,779 527,77753 Loans 71,225 220,124 602,686 917,924 503,499 555,296 339,605 362,51454 Other liabilities 50,341 62,004 97,583 181,378 148,052 156,795 137,590 146,127

55=44-50 Financial net worth 380,614 1,066,934 2,431,808 3,235,075 3,751,647 4,249,754 4,469,603 5,014,05256=39-50=40+55 Net worth : : : : : : : :


58=64(t)-64(t-1) Change in Government Debt : : 61,547 66,301 -208,551 76,931 -319,450 93,95459 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : :




63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : 421,573 820,601 1,218,270 1,009,719 1,086,650 767,200 861,154

65 . Currency and deposits : - - - - - - -66=67+68 . Debt securities : 201,449 217,915 300,346 506,220 531,354 427,595 498,640


69=70+71 . Loans : 220,124 602,686 917,924 503,499 555,296 339,605 362,51470 .. short term : 125,828 447,384 530,237 119,114 139,413 29,326 27,92271 .. long term : 94,296 155,302 387,687 384,385 415,883 310,279 334,59272 Intergovernmental lending (asset)* : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : :

74=45+46+48a Government liquid assets 151,652 445,384 924,879 1,914,703 1,398,408 1,573,783 1,598,270 1,782,666


77=20+18-76 Net savings and capital transfers 39,990 237,506 310,718 521,105 291,135 316,386 406,431 435,92378 GDP 963,124 1,507,886 1,988,942 2,608,807 2,431,198 2,593,739 2,795,755 2,968,258




Norway



Government revenue and expenditure1=2+6+7+8+9 1,683,554 1,716,078 1,710,558 1,708,809 1,817,471 -246,610 1,529,722 534,359

2=3+4+5 934,232 908,203 873,149 876,808 943,752 742,782 200,9703 348,367 361,908 374,472 392,352 412,783 396,945 15,8384 583,619 544,415 498,382 484,250 530,878 345,746 185,1325 2,246 1,880 295 206 91 91 06 292,521 313,192 325,764 331,487 341,635 341,635 07 102,881 108,311 114,980 118,644 123,773 56,024 67,7498 353,920 386,372 396,665 381,870 408,311 -246,610 389,281 265,6409 0 0 0 0 0 0 0 0

10=11+..+18 1,352,224 1,440,800 1,521,634 1,583,600 1,650,395 -246,610 1,346,686 550,31911 183,618 194,728 206,010 216,051 230,253 124,023 106,23012 418,093 441,361 462,531 477,809 499,357 217,891 281,46613 20,636 20,995 20,317 16,029 13,991 0 5,134 8,85714 57,378 59,849 64,200 67,737 69,429 53,088 16,34115 467,767 496,615 528,791 550,426 566,205 520,749 45,456

15a 404,291 428,595 457,141 475,090 489,777 473,062 16,71516 71,774 78,041 85,552 88,062 91,702 -246,610 316,941 21,37117 4,399 5,651 4,587 4,218 4,500 0 3,537 96318 128,559 143,560 149,646 163,268 174,958 105,323 69,63519 131,698 144,516 151,876 165,507 175,770 104,118 71,652

Government deficit

20=1-10 331,330 275,278 188,925 125,211 167,077 183,036 -15,959


21=20-22 -12,766 1,505 -2,022 -6,798 10,415 9,242 1,173

22=23-29 344,096 273,773 190,947 132,009 156,662 173,794 -17,13223=24+..+28 399,778 230,670 350,039 258,110 257,730 -1,383 237,119 21,994

24 -45,267 35,626 -14,369 81,292 27,685 0 14,721 12,96425 344,706 78,691 143,661 47,553 -20,315 -52 -20,222 -4126 65,699 -57,603 90,045 22,234 59,456 96 49,305 10,05527 49,661 168,126 139,161 92,342 157,693 0 156,523 1,17028 -15,021 5,830 -8,459 14,689 33,211 -1,427 36,792 -2,154

29=30+..+33 55,682 -43,103 159,092 126,101 101,068 -1,383 63,325 39,12630 - - - - - - - -31 -23,853 2 15,432 34,466 16,106 -52 10,672 5,48632 71,676 -54,956 121,036 80,590 72,522 96 51,085 21,34133 7,859 11,851 22,624 11,045 12,440 -1,427 1,568 12,299


35=44(t)-44(t-1)-23 1,011,256 1,192,662 853,036 8,795 1,002,002 -7 981,969 20,04036=50(t)-50(t-1)-29 -5,166 13,998 -6,203 -11,004 -4,387 -7 -4,498 118

37=35-36 = 55(t)-55(t-1)-22 1,016,422 1,178,664 859,239 19,799 1,006,389 986,467 19,922

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : :


40=41+42+43 : : : : : : :41 1,603,835 1,748,751 1,896,455 : : : :42 : : : : : : :43 : 52 : : : : :

44=45+..+49 7,461,504 8,884,836 10,087,911 10,354,816 11,614,548 -28,984 11,158,357 485,17545 191,316 227,719 214,732 295,018 321,237 0 207,797 113,44046 1,943,883 2,415,245 2,785,203 2,747,121 2,746,305 -2,111 2,733,159 15,25747 682,965 638,497 737,128 747,676 816,885 -192 729,215 87,86248 4,288,135 5,233,306 5,977,237 6,166,851 7,284,787 0 7,199,201 85,586

48a 13,806 12,946 12,943 14,148 16,202 : :49 355,205 370,069 373,611 398,150 445,334 -26,681 288,985 183,030

50=51+..+54 1,086,934 1,057,829 1,210,718 1,325,815 1,422,496 -28,984 850,881 600,59951 - - - - - - - -52 494,362 505,437 515,097 539,763 552,400 -2,111 399,784 154,72753 439,101 388,062 509,842 588,581 662,018 -192 303,815 358,39554 153,471 164,330 185,779 197,471 208,078 -26,681 147,282 87,477

55=44-50 6,374,570 7,827,007 8,877,193 9,029,001 10,192,052 10,307,476 -115,42456=39-50=40+55 : : : : : : :

Table B - Government debt and link with the deficit57=20 : : : : : : :

58=64(t)-64(t-1) 49,725 -55,205 133,527 110,806 87,670 38 60,694 26,93859 = 57+58 = 60+..+63 : : : : : : : :

60=23 : : : : : : : :

61=(-)33 : : : : : : : :

62 : : : : : : : :

63 : : : : : : : :64=65+66+69 910,879 855,674 989,201 1,100,007 1,187,677 -2,301 678,312 511,666

65 - - - - - - - -66=67+68 471,778 467,612 479,359 511,426 525,659 -2,109 374,497 153,271

67 172,381 101,302 114,245 104,500 101,874 -1,962 48,633 55,20368 299,397 366,310 365,114 406,926 423,785 -147 325,864 98,068

69=70+71 439,101 388,062 509,842 588,581 662,018 -192 303,815 358,39570 75,875 31,405 127,190 155,573 220,391 0 219,903 48871 363,226 356,657 382,652 433,008 441,627 -192 83,912 357,90772 : : : : : : :73 : : : : : : :

74=45+46+48a 2,149,005 2,655,910 3,012,878 3,056,287 3,083,744 : :


77=20+18-76 370,082 322,601 234,642 179,561 226,801 220,635 6,16678 3,075,575 3,146,665 3,118,116 3,119,296 3,304,439

79 809 819 828 837 847

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Norway




2=3+4+5 Taxes 31.5 33.1 33.9 32.8 31.6 32.5 32.8 32.1 30.4 28.9 28.0 28.1 28.6 22.5 6.13 . Indirect taxes 15.7 13.4 12.0 11.0 11.8 11.9 11.4 11.2 11.3 11.5 12.0 12.6 12.5 12.0 0.54 . Direct taxes 15.7 19.7 21.8 21.7 19.7 20.6 21.3 20.8 19.0 17.3 16.0 15.5 16.1 10.5 5.65 . Capital taxes 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.06 Social contributions 9.6 8.8 8.7 8.6 9.6 9.4 9.3 9.3 9.5 10.0 10.4 10.6 10.3 10.3 0.07 Sales (incl. own account capital formation) 4.5 3.6 3.1 3.0 3.4 3.4 3.3 3.3 3.3 3.4 3.7 3.8 3.7 1.7 2.18 Other current revenue 7.8 11.6 11.1 14.4 11.8 10.6 11.8 11.9 11.5 12.3 12.7 12.2 12.4 -7.5 11.8 8.09 Capital revenue 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0


15a of which other than transfers in kind 15.0 12.9 13.0 11.4 13.4 13.3 13.1 13.0 13.1 13.6 14.7 15.2 14.8 14.3 0.516 Other current expenditure 2.0 1.7 1.9 2.0 2.4 2.4 2.2 2.1 2.3 2.5 2.7 2.8 2.8 -7.5 9.6 0.617 Capital transfers payable 0.5 0.7 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.1 0.1 0.1 0.0 0.1 0.018 Capital investments 4.2 3.4 3.3 3.8 4.5 4.1 4.0 3.8 4.2 4.6 4.8 5.2 5.3 3.2 2.119 of which, gross fixed capital formation 4.1 3.4 3.4 3.8 4.5 4.1 4.0 3.9 4.3 4.6 4.9 5.3 5.3 3.2 2.2

Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) 3.2 15.1 14.8 18.7 10.3 11.0 13.4 13.8 10.8 8.7 6.1 4.0 5.1 5.5 -0.5


21=20-22Statistical discrepancy(non-financial minus financial accounts) : 1.0 1.0 0.1 0.1 0.0 0.5 -0.2 -0.4 0.0 -0.1 -0.2 0.3 0.3 0.0

22=23-29 Net financial transactions : 14.1 13.8 18.5 10.2 11.0 12.9 14.1 11.2 8.7 6.1 4.2 4.7 5.3 -0.523=24+..+28 Net acquisition of financial assets : 22.6 15.6 11.4 2.6 14.5 1.4 16.7 13.0 7.3 11.2 8.3 7.8 0.0 7.2 0.7

24 Currency and deposits : 4.0 1.4 -0.6 -0.6 0.4 -1.8 2.3 -1.5 1.1 -0.5 2.6 0.8 0.0 0.4 0.425 Debt securities : 6.9 2.5 7.7 -13.7 6.8 0.6 5.3 11.2 2.5 4.6 1.5 -0.6 0.0 -0.6 0.026 Loans : 3.8 7.6 -19.7 4.4 2.5 -7.0 1.1 2.1 -1.8 2.9 0.7 1.8 0.0 1.5 0.327 Shares and other equity : 4.3 2.8 21.2 14.3 3.4 8.9 7.9 1.6 5.3 4.5 3.0 4.8 0.0 4.7 0.028 Other financial assets : 3.6 1.2 2.8 -1.8 1.4 0.8 0.1 -0.5 0.2 -0.3 0.5 1.0 0.0 1.1 -0.1

29=30+..+33 Net incurrence of liabilities : 8.5 1.7 -7.1 -7.7 3.6 -11.5 2.6 1.8 -1.4 5.1 4.0 3.1 0.0 1.9 1.230 Currency and deposits : - - - - - - - - - - - - - - -31 Debt securities : 1.4 0.3 2.6 8.6 0.9 -2.9 2.3 -0.8 0.0 0.5 1.1 0.5 0.0 0.3 0.232 Loans : 6.7 2.2 -11.0 -14.9 2.0 -7.9 0.4 2.3 -1.7 3.9 2.6 2.2 0.0 1.5 0.633 Other liabilities : 0.5 -0.8 1.2 -1.4 0.7 -0.7 -0.1 0.3 0.4 0.7 0.4 0.4 0.0 0.0 0.4


35=44(t)-44(t-1)-23 Other changes in financial assets : 5.0 15.4 -9.2 8.6 8.0 -4.7 4.7 32.9 37.9 27.4 0.3 30.3 0.0 29.7 0.636=50(t)-50(t-1)-29 Other changes in liabilities : -0.4 0.5 11.2 -2.4 -0.2 0.4 0.5 -0.2 0.4 -0.2 -0.4 -0.1 0.0 -0.1 0.0

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : 5.5 14.9 -20.4 11.0 8.2 -5.1 4.3 33.0 37.5 27.6 0.6 30.5 29.9 0.6

38=34+37 = 56(t)-56(t-1)-77+21



40=41+42+43 Non-financial assets : : : : : : : : : : : : : : :41 Fixed assets : : : : : : : 51.2 52.1 55.6 60.8 : : : :42 Other produced assets : : : : : : : : : : : : : : :43 Non-produced assets : : : : : : : : : 0.0 : : : : :

44=45+..+49 Financial assets 76.8 103.0 169.2 178.2 202.3 212.2 193.6 203.8 242.6 282.4 323.5 332.0 351.5 -0.9 337.7 14.745 Currency and deposits 12.6 10.6 8.8 8.7 8.6 8.5 6.0 8.0 6.2 7.2 6.9 9.5 9.7 0.0 6.3 3.446 Debt securities 2.9 18.6 37.0 64.2 48.3 51.6 50.6 51.6 63.2 76.8 89.3 88.1 83.1 -0.1 82.7 0.547 Loans 21.8 20.8 41.6 23.2 28.8 29.6 20.5 20.4 22.2 20.3 23.6 24.0 24.7 0.0 22.1 2.748 Shares and other equity 28.6 40.4 69.1 70.8 105.1 110.6 104.4 111.6 139.4 166.3 191.7 197.7 220.5 0.0 217.9 2.6

48a of which, Investment fund shares 0.3 0.3 0.7 0.5 0.6 0.6 0.5 0.4 0.4 0.4 0.4 0.5 0.5 : :49 Other financial assets 10.9 12.4 12.7 11.3 11.5 11.8 12.1 12.2 11.5 11.8 12.0 12.8 13.5 -0.8 8.7 5.5

50=51+..+54 Liabilities 37.3 32.2 46.9 54.2 48.0 48.4 33.8 34.9 35.3 33.6 38.8 42.5 43.0 -0.9 25.7 18.251 Currency and deposits - - - - - - - - - - - - - - - -52 Debt securities 24.7 13.5 11.7 12.0 21.2 20.9 16.7 17.8 16.1 16.1 16.5 17.3 16.7 -0.1 12.1 4.753 Loans 7.4 14.6 30.3 35.2 20.7 21.4 12.1 12.2 14.3 12.3 16.4 18.9 20.0 0.0 9.2 10.854 Other liabilities 5.2 4.1 4.9 7.0 6.1 6.0 4.9 4.9 5.0 5.2 6.0 6.3 6.3 -0.8 4.5 2.6

55=44-50 Financial net worth 39.5 70.8 122.3 124.0 154.3 163.8 159.9 168.9 207.3 248.7 284.7 289.5 308.4 311.9 -3.556=39-50=40+55 Net worth : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : : : : : : : : : : : : : :

58=64(t)-64(t-1) Change in Government Debt : : 3.1 2.5 -8.6 3.0 -11.4 3.2 1.6 -1.8 4.3 3.6 2.7 0.0 1.8 0.859 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : : : : : : : : : :

60=23 Net acquisition of financial assets : : : : : : : : : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : : : : : : : :

62Valuation effects and other changes in volume in government debt : : : : : : : : : : : : : : : :

63 Statistical discrepancies : : : : : : : : : : : : : : : :64=65+66+69 Government debt (nominal / face value) : 28.0 41.3 46.7 41.5 41.9 27.4 29.0 29.6 27.2 31.7 35.3 35.9 -0.1 20.5 15.5

65 . Currency and deposits : - - - - - - - - - - - - - - -66=67+68 . Debt securities : 13.4 11.0 11.5 20.8 20.5 15.3 16.8 15.3 14.9 15.4 16.4 15.9 -0.1 11.3 4.6

67 .. short term : 2.4 2.6 3.3 11.6 11.0 7.3 7.2 5.6 3.2 3.7 3.4 3.1 -0.1 1.5 1.768 .. long term : 11.0 8.3 8.2 9.3 9.5 8.0 9.6 9.7 11.6 11.7 13.0 12.8 0.0 9.9 3.0

69=70+71 . Loans : 14.6 30.3 35.2 20.7 21.4 12.1 12.2 14.3 12.3 16.4 18.9 20.0 0.0 9.2 10.870 .. short term : 8.3 22.5 20.3 4.9 5.4 1.0 0.9 2.5 1.0 4.1 5.0 6.7 0.0 6.7 0.071 .. long term : 6.3 7.8 14.9 15.8 16.0 11.1 11.3 11.8 11.3 12.3 13.9 13.4 0.0 2.5 10.872 Intergovernmental lending (asset)* : : : : : : : : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : : : : : : : : :

74=45+46+48a Government liquid assets 15.7 29.5 46.5 73.4 57.5 60.7 57.2 60.1 69.9 84.4 96.6 98.0 93.3 : :


77=20+18-76 Net savings and capital transfers 4.2 15.8 15.6 20.0 12.0 12.2 14.5 14.7 12.0 10.3 7.5 5.8 6.9 6.7 0.278 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Norway



Government revenue and expenditure1=2+6+7+8+9 -2.4 2.6 11.6 13.6 15.2 5.6 11.6 -10.7 5.8 10.2 5.3 0.0 1.9 -0.3 -0.1 6.4

2=3+4+5 -1.5 1.8 13.9 14.2 12.8 3.3 8.9 -10.1 9.8 8.6 4.1 -2.1 -2.8 -3.9 0.4 7.63 -0.1 0.8 7.3 7.4 11.2 8.4 -0.2 -0.2 7.4 3.8 4.3 4.4 3.9 3.5 4.8 5.24 -2.4 2.4 18.4 18.3 13.7 0.5 14.4 -15.2 11.2 11.5 4.0 -5.7 -6.7 -8.5 -2.8 9.65 -6.4 23.3 8.4 6.5 16.7 24.9 -23.4 23.2 -2.2 -26.2 7.6 19.0 -16.3 -84.3 -30.2 -55.86 6.6 2.8 5.3 5.8 8.8 8.5 9.6 3.8 4.2 6.4 7.0 5.6 7.1 4.0 1.8 3.17 -0.3 -6.4 9.3 5.6 4.5 14.1 5.4 5.5 7.2 4.6 5.1 5.1 5.3 6.2 3.2 4.38 -13.4 8.7 11.1 21.3 30.5 7.8 21.2 -24.2 -3.9 20.2 7.3 -0.1 9.2 2.7 -3.7 6.99

10=11+..+18 6.3 6.4 3.4 4.4 8.1 7.7 7.7 6.8 4.1 4.9 4.1 6.2 6.6 5.6 4.1 4.211 5.0 -1.0 4.1 3.2 5.6 8.0 8.0 11.3 4.4 3.5 2.0 6.7 6.1 5.8 4.9 6.612 5.8 5.6 4.6 4.7 6.4 8.9 9.4 7.1 5.5 6.4 6.2 5.7 5.6 4.8 3.3 4.513 -7.4 4.1 -10.6 21.2 67.4 14.5 -15.0 -39.6 -13.4 -7.0 -13.5 -4.6 1.7 -3.2 -21.1 -12.714 4.4 8.1 -0.6 4.0 1.7 0.3 10.6 9.6 6.2 1.8 4.3 3.2 4.3 7.3 5.5 2.515 8.3 9.5 4.0 2.3 3.7 4.0 7.5 9.1 6.1 5.9 5.3 4.5 6.2 6.5 4.1 2.9

15a 7.7 9.5 3.1 1.6 3.1 4.3 7.2 9.4 5.8 6.2 5.4 4.5 6.0 6.7 3.9 3.116 11.0 6.8 5.8 15.6 6.5 13.8 9.3 14.7 5.3 0.9 1.5 13.0 8.7 9.6 2.9 4.117 -10.1 0.1 -22.3 20.7 -0.5 -10.9 75.6 -18.5 -12.7 19.8 -13.4 5.8 28.5 -18.8 -8.0 6.718 10.4 9.3 4.4 1.3 14.9 15.5 13.3 11.5 -3.5 5.3 1.5 14.0 11.7 4.2 9.1 7.219 7.8 11.0 6.6 1.6 13.7 14.2 12.0 10.6 -2.5 5.2 1.8 14.5 9.7 5.1 9.0 6.2

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 14.6 12.9 15.0 11.2 22.3 11.4 6.5 1.3 7.7 0.7 9.2 6.6 3.1 3.9 2.6 2.5

24 -16.5 54.2 -19.6 18.7 32.3 0.2 -6.9 -6.8 4.8 -22.8 39.8 -19.1 18.6 -6.3 37.9 9.425 24.5 11.0 28.6 7.4 72.5 4.8 17.0 -19.9 15.0 1.2 11.2 22.5 4.0 5.9 1.7 -0.726 30.4 20.9 24.6 23.5 7.7 15.9 -54.6 17.7 9.3 -25.5 5.7 10.9 -8.4 14.1 3.0 8.027 10.7 6.0 4.1 5.3 5.6 16.3 28.6 18.8 3.5 8.6 8.0 1.5 3.9 2.7 1.5 2.628 2.8 -2.0 37.1 10.4 7.7 6.6 24.8 -14.4 12.7 7.4 1.2 -4.2 1.6 -2.3 3.9 8.3

29=30+..+33 29.4 24.1 18.4 3.9 38.6 6.5 -14.2 -13.2 7.9 -25.6 8.3 5.4 -4.0 15.0 10.4 7.63031 8.1 28.1 -12.4 3.0 9.2 -5.9 29.2 66.7 4.4 -15.0 14.8 -4.5 0.0 3.1 6.7 3.032 55.3 25.3 36.6 8.1 52.4 7.8 -31.1 -39.5 10.4 -39.8 3.7 19.8 -12.5 31.2 15.8 12.333 5.3 9.0 24.1 -14.4 24.2 23.0 21.2 -18.1 11.4 -12.3 -2.0 5.4 7.7 13.8 5.9 6.3


35=44(t)-44(t-1)-23 -13.3 11.5 2.7 11.1 4.8 -4.1 -5.2 4.5 4.2 -2.4 2.6 16.7 16.0 9.6 0.1 9.736=50(t)-50(t-1)-29 -6.2 4.8 -4.1 1.1 -1.4 -4.6 22.4 -4.2 -0.5 0.9 1.5 -0.5 1.3 -0.6 -0.9 -0.3

37=35-36 = 55(t)-55(t-1)-22 -15.9 14.7 6.0 15.9 7.2 -3.9 -16.2 8.3 5.7 -3.3 2.8 20.3 18.5 11.0 0.2 11.1

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : 5.6 9.0 8.4 : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 1.3 24.4 17.6 22.4 27.1 7.3 1.3 5.8 11.9 -1.6 11.8 23.3 19.1 13.5 2.6 12.245 -19.0 55.4 -17.9 19.0 32.4 0.7 -3.2 -7.8 5.4 -22.9 39.9 -19.1 19.0 -5.7 37.4 8.946 12.5 20.8 31.1 7.9 66.2 -3.6 42.3 -29.9 14.0 5.7 8.3 26.8 24.2 15.3 -1.4 0.047 21.3 22.9 17.9 27.8 6.9 6.6 -35.8 15.9 9.5 -25.4 5.7 12.8 -6.5 15.4 1.4 9.348 -9.5 29.3 13.8 31.5 21.1 16.4 -4.7 38.4 12.4 1.7 13.5 29.4 22.0 14.2 3.2 18.1

48a 18.0 54.4 50.0 -17.0 9.6 0.9 -17.4 12.2 -0.8 -7.8 -3.9 5.0 -6.2 0.0 9.3 14.549 -0.5 -2.7 33.2 10.6 8.7 8.4 -1.0 -5.1 9.7 9.7 7.3 -1.7 4.2 1.0 6.6 11.9

50=51+..+54 23.2 28.9 14.3 5.0 37.3 1.9 8.2 -17.3 7.4 -24.7 9.8 4.9 -2.7 14.5 9.5 7.35152 4.6 32.2 -14.4 1.8 6.5 -5.1 33.3 64.7 5.0 -13.9 13.1 -6.3 2.2 1.9 4.8 2.353 42.7 32.3 28.8 10.4 51.2 1.0 -0.3 -45.1 10.3 -38.8 6.7 21.1 -11.6 31.4 15.4 12.554 12.1 7.0 32.2 -14.6 24.4 23.1 21.4 -18.4 5.9 -12.2 6.2 5.0 7.1 13.1 6.3 5.4

55=44-50 -6.6 22.3 19.3 30.7 23.2 9.6 -1.5 16.0 13.3 5.2 12.2 27.1 22.8 13.4 1.7 12.956=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) 24.8 29.0 13.4 8.1 40.3 0.1 5.8 -17.1 7.6 -29.4 12.2 5.8 -6.1 15.6 11.2 8.059 = 57+58 = 60+..+63 : : : : : : : : : : : : : : : :

60=23 : : : : : : : : : : : : : : : :

61=(-)33 : : : : : : : : : : : : : : : :

62 : : : : : : : : : : : : : : : :

63 : : : : : : : : : : : : : : : :64=65+66+69 24.8 29.0 13.4 8.1 40.3 0.1 5.8 -17.1 7.6 -29.4 12.2 5.8 -6.1 15.6 11.2 8.0

6566=67+68 3.9 23.7 -13.2 2.3 9.9 -3.5 30.0 68.5 5.0 -19.5 16.6 -5.4 -0.9 2.5 6.7 2.8

67 35.4 32.0 -14.3 -14.9 -5.3 -11.5 96.6 224.9 1.2 -28.6 5.0 -19.2 -41.2 12.8 -8.5 -2.568 -4.6 20.5 -12.7 9.3 14.7 -1.4 14.3 5.2 9.7 -9.1 27.2 5.0 22.3 -0.3 11.5 4.1

69=70+71 42.7 32.3 28.8 10.4 51.2 1.0 -0.3 -45.1 10.3 -38.8 6.7 21.1 -11.6 31.4 15.4 12.570 75.0 41.6 35.7 9.9 66.3 -1.9 -27.3 -77.5 17.0 -79.0 -4.8 171.7 -58.6 305.0 22.3 41.771 4.9 14.1 12.2 11.6 7.9 14.0 102.8 -0.9 8.2 -25.4 7.8 8.6 -1.8 7.3 13.2 2.072 : : : : : : : : : : : : : : : :73 : : : : : : : : : : : : : : : :

74=45+46+48a 4.1 28.5 19.1 9.3 58.9 -2.9 34.2 -27.0 12.5 1.6 11.5 20.6 23.6 13.4 1.4 0.9


77=20+18-7678 -0.3 3.8 10.0 11.6 11.4 6.1 11.0 -6.8 6.7 7.8 6.2 3.6 2.3 -0.9 0.0 5.9

79 0.1 0.1 0.1 0.0 1.7 2.2 1.6 1.9 1.2 1.9 1.7 1.3 1.2 1.1 1.1 1.2



Switzerland




2=3+4+5 Taxes 76,127 96,822 104,091 124,040 122,095 124,648 127,282 127,8213 . Indirect taxes 22,896 31,035 32,982 37,197 36,453 38,217 38,879 38,8274 . Direct taxes 52,169 64,572 70,206 85,968 84,647 85,457 87,541 88,0955 . Capital taxes 1,063 1,215 903 875 995 974 863 8986 Social contributions 28,471 31,251 32,704 37,091 38,380 38,768 41,389 42,4167 Sales (incl . own account capital formation) 14,173 16,888 18,712 22,144 22,861 23,634 24,007 25,5468 Other current revenue 11,255 12,192 13,173 15,487 14,874 15,341 15,703 14,1639 Capital revenue 90 -125 -156 649 401 584 568 583



Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -7,584 1,950 -3,425 11,580 2,966 2,166 4,566 2,394








37=35-36 = 55(t)-55(t-1)-22


38=34+37 = 56(t)-56(t-1)-77+21









58=64(t)-64(t-1) Change in Government Debt : : : : : : : :59 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : :




63 Statistical discrepancies : : : : : : : :64=65+66+69 Government debt (nominal / face value) : : : : : : : :

65 . Currency and deposits : : : : : : : :66=67+68 . Debt securities : : : : : : : :

67 .. short term : : : : : : : :68 .. long term : : : : : : : :

69=70+71 . Loans : : : : : : : :70 .. short term : : : : : : : :71 .. long term : : : : : : : :72 Intergovernmental lending (asset)* : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : :



77=20+18-76 Net savings and capital transfers -4,535 2,957 -2,104 12,727 4,777 4,177 6,490 3,42878 GDP 405,145 459,447 508,900 600,431 589,213 608,831 621,256 626,414




Switzerland




2=3+4+5 130,902 132,407 137,393 139,445 146,211 70,255 47,045 28,910 03 39,189 39,332 39,526 39,420 40,728 38,519 1,564 645 04 90,747 91,898 96,779 98,877 104,339 31,736 44,455 28,147 05 966 1,177 1,088 1,148 1,145 0 1,026 119 06 43,136 43,650 44,407 44,912 45,467 73 247 148 45,0007 26,641 27,403 28,400 29,447 29,963 4,137 15,811 10,006 98 14,647 14,067 15,791 14,168 14,780 -43,384 2,242 28,309 9,371 18,2419 368 521 734 539 443 -2,328 830 1,096 977 -133

10=11+..+18 218,434 219,440 222,506 226,036 228,329 -45,712 71,885 90,415 49,522 62,21811 30,451 31,149 31,762 32,539 32,919 6,529 10,310 14,764 1,31512 47,805 48,625 49,361 49,991 50,833 7,768 27,966 14,682 41713 3,973 3,700 3,612 3,189 2,883 0 1,406 741 695 4214 19,175 19,199 19,710 20,012 20,652 3,354 15,881 1,335 8115 71,432 72,847 74,148 76,253 77,327 322 12,275 4,672 60,058

15a 64,854 65,943 66,918 68,653 69,529 203 9,595 1,658 58,07316 15,310 15,388 16,057 16,358 16,733 -43,384 40,627 13,296 5,902 29317 10,936 8,645 7,787 7,580 6,884 -2,328 5,478 2,518 1,206 1018 19,351 19,886 20,069 20,114 20,097 6,402 7,428 6,266 119 19,200 19,769 20,123 20,176 20,106 6,407 7,431 6,267 1

Government deficit

20=1-10 -2,739 -1,392 4,219 2,474 8,535 5,652 2,094 -109 899


21=20-22 : : : : : : : : :

22=23-29 : : : : : : : : :23=24+..+28 : : : : : : : : : :

24 : : : : : : : : : :25 : : : : : : : : : :26 : : : : : : : : : :27 : : : : : : : : : :28 : : : : : : : : : :

29=30+..+33 : : : : : : : : : :30 : : : : : : : : : :31 : : : : : : : : : :32 : : : : : : : : : :33 : : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : :


40=41+42+43 : : : : : : : : :41 : : : : : : : : :42 : : : : : : : : :43 : : : : : : : : :

44=45+..+49 : : : : : : : : : :45 : : : : : : : : : :46 : : : : : : : : : :47 : : : : : : : : : :48 : : : : : : : : : :

48a : : : : : : : : :49 : : : : : : : : : :

50=51+..+54 : : : : : : : : : :51 : : : : : : : : : :52 : : : : : : : : : :53 : : : : : : : : : :54 : : : : : : : : : :

55=44-50 : : : : : : : : :56=39-50=40+55 : : : : : : : : :

Table B - Government debt and link with the deficit57=20 : : : : : : : : :

58=64(t)-64(t-1) : : : : : : : : : :59 = 57+58 = 60+..+63 : : : : : : : : : :

60=23 : : : : : : : : : :

61=(-)33 : : : : : : : : : :

62 : : : : : : : : : :

63 : : : : : : : : : :64=65+66+69 : : : : : : : : : :

65 : : : : : : : : : :66=67+68 : : : : : : : : : :

67 : : : : : : : : : :68 : : : : : : : : : :

69=70+71 : : : : : : : : : :70 : : : : : : : : : :71 : : : : : : : : : :72 : : : : : : : : :73 : : : : : : : : :

74=45+46+48a : : : : : : : : :


77=20+18-76 -1,340 -8 6,167 4,111 10,112 6,901 1,496 819 89678 638,177 649,718 654,258 660,393 668,572

79 : : : : :

con

solid

atio

n

S.1

311

S.1

312

S.1

313

S.1

314


Switzerland







Government deficit

20=1-10 Net lending ( + ) / net borrowing (-) -1.9 0.4 -0.7 1.9 0.5 0.4 0.7 0.4 -0.4 -0.2 0.6 0.4 1.3 0.8 0.3 0.0 0.1


21=20-22Statistical discrepancy(non-financial minus financial accounts) : : : : : : : : : : : : : : : : :

22=23-29 Net financial transactions : : : : : : : : : : : : : : : : :23=24+..+28 Net acquisition of financial assets : : : : : : : : : : : : : : : : : :

24 Currency and deposits : : : : : : : : : : : : : : : : : :25 Debt securities : : : : : : : : : : : : : : : : : :26 Loans : : : : : : : : : : : : : : : : : :27 Shares and other equity : : : : : : : : : : : : : : : : : :28 Other financial assets : : : : : : : : : : : : : : : : : :

29=30+..+33 Net incurrence of liabilities : : : : : : : : : : : : : : : : : :30 Currency and deposits : : : : : : : : : : : : : : : : : :31 Debt securities : : : : : : : : : : : : : : : : : :32 Loans : : : : : : : : : : : : : : : : : :33 Other liabilities : : : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 Other changes in financial assets : : : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 Other changes in liabilities : : : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities : : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21




44=45+..+49 Financial assets : : : : : : : : : : : : : : : : : :45 Currency and deposits : : : : : : : : : : : : : : : : : :46 Debt securities : : : : : : : : : : : : : : : : : :47 Loans : : : : : : : : : : : : : : : : : :48 Shares and other equity : : : : : : : : : : : : : : : : : :

48a of which, Investment fund shares : : : : : : : : : : : : : : : : :49 Other financial assets : : : : : : : : : : : : : : : : : :

50=51+..+54 Liabilities : : : : : : : : : : : : : : : : : :51 Currency and deposits : : : : : : : : : : : : : : : : : :52 Debt securities : : : : : : : : : : : : : : : : : :53 Loans : : : : : : : : : : : : : : : : : :54 Other liabilities : : : : : : : : : : : : : : : : : :

55=44-50 Financial net worth : : : : : : : : : : : : : : : : :56=39-50=40+55 Net worth : : : : : : : : : : : : : : : : :

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) : : : : : : : : : : : : : : : : :

58=64(t)-64(t-1) Change in Government Debt : : : : : : : : : : : : : : : : : :59 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) : : : : : : : : : : : : : : : : : :

60=23 Net acquisition of financial assets : : : : : : : : : : : : : : : : : :

61=(-)33 Incurrence in liabilities not in government debt : : : : : : : : : : : : : : : : : :

62Valuation effects and other changes in volume in government debt : : : : : : : : : : : : : : : : : :

63 Statistical discrepancies : : : : : : : : : : : : : : : : : :64=65+66+69 Government debt (nominal / face value) : : : : : : : : : : : : : : : : : :

65 . Currency and deposits : : : : : : : : : : : : : : : : : :66=67+68 . Debt securities : : : : : : : : : : : : : : : : : :

67 .. short term : : : : : : : : : : : : : : : : : :68 .. long term : : : : : : : : : : : : : : : : : :

69=70+71 . Loans : : : : : : : : : : : : : : : : : :70 .. short term : : : : : : : : : : : : : : : : : :71 .. long term : : : : : : : : : : : : : : : : : :72 Intergovernmental lending (asset)* : : : : : : : : : : : : : : : : :73 Intergovernmental lending (borrowing)* : : : : : : : : : : : : : : : : :

74=45+46+48a Government liquid assets : : : : : : : : : : : : : : : : :


77=20+18-76 Net savings and capital transfers -1.1 0.6 -0.4 2.1 0.8 0.7 1.0 0.5 -0.2 0.0 0.9 0.6 1.5 1.0 0.2 0.1 0.178 GDP



S.1

311

S.1

312

S.1

313

S.1

314

con

solid

atio

n


Switzerland



Government revenue and expenditure1=2+6+7+8+9 1.2 -0.2 2.1 3.9 5.2 5.1 7.1 -0.4 2.2 2.9 0.8 2.5 1.1 4.0 0.8 3.7

2=3+4+5 1.9 -1.2 3.4 4.7 6.1 5.9 6.0 -1.6 2.1 2.1 0.4 2.4 1.1 3.8 1.5 4.93 -2.9 1.3 3.7 3.6 4.7 4.0 3.6 -2.0 4.8 1.7 -0.1 0.9 0.4 0.5 -0.3 3.34 4.1 -1.8 3.0 5.7 6.9 6.9 7.2 -1.5 1.0 2.4 0.6 3.0 1.3 5.3 2.2 5.55 14.4 -29.1 19.1 -19.1 -6.9 3.3 0.7 13.7 -2.1 -11.5 4.2 7.5 21.8 -7.6 5.5 -0.36 2.2 -2.3 -2.4 1.8 3.2 4.9 4.7 3.5 1.0 6.8 2.5 1.7 1.2 1.7 1.1 1.27 0.1 4.7 1.3 2.6 4.8 4.4 8.1 3.2 3.4 1.6 6.4 4.3 2.9 3.6 3.7 1.88 -5.6 6.2 4.7 6.0 3.5 -0.1 13.7 -4.0 3.1 2.4 -9.8 3.4 -4.0 12.3 -10.3 4.39 -6.1 -82.7 -84.5 4907.6 22.0 22.9 -377.6 -38.2 45.5 -2.7 2.6 -36.9 41.5 40.9 -26.6 -17.8

10=11+..+18 7.5 -1.3 2.2 1.7 0.4 2.6 6.1 4.2 2.6 1.8 1.8 4.9 0.5 1.4 1.6 1.011 -0.1 4.0 -0.7 2.3 2.3 2.9 10.1 5.8 1.5 1.1 4.9 4.2 2.3 2.0 2.4 1.212 4.5 3.3 1.4 1.3 1.3 3.0 5.6 4.9 2.7 2.6 2.4 1.8 1.7 1.5 1.3 1.713 -4.0 -10.8 -1.5 4.9 3.8 -7.1 -4.6 -10.2 -5.3 -7.2 -7.6 -10.4 -6.9 -2.4 -11.7 -9.614 5.1 2.5 0.9 2.3 -0.2 -6.4 1.0 6.2 0.7 6.0 7.5 0.6 0.1 2.7 1.5 3.215 5.1 6.2 2.4 3.0 0.3 2.0 0.6 8.0 2.9 0.6 2.5 3.2 2.0 1.8 2.8 1.4

15a 5.2 6.1 2.2 2.5 0.0 2.2 1.0 8.9 2.9 0.3 2.0 3.1 1.7 1.5 2.6 1.316 7.9 6.2 5.2 3.9 0.3 9.5 5.3 6.2 6.7 1.2 3.9 7.1 0.5 4.3 1.9 2.317 94.4 -62.9 31.7 -13.8 -20.9 34.4 78.9 -26.9 7.0 4.8 -16.9 65.5 -20.9 -9.9 -2.7 -9.218 3.9 0.4 0.1 -0.9 1.8 4.0 7.6 5.8 2.9 3.1 -2.8 5.5 2.8 0.9 0.2 -0.119 2.4 0.4 0.1 -0.9 1.8 3.0 7.3 5.8 3.4 3.3 1.1 1.2 3.0 1.8 0.3 -0.3

Government deficit

20=1-10


21=20-22

22=23-2923=24+..+28 : : : : : : : : : : : : : : : :

24 : : : : : : : : : : : : : : : :25 : : : : : : : : : : : : : : : :26 : : : : : : : : : : : : : : : :27 : : : : : : : : : : : : : : : :28 : : : : : : : : : : : : : : : :

29=30+..+33 : : : : : : : : : : : : : : : :30 : : : : : : : : : : : : : : : :31 : : : : : : : : : : : : : : : :32 : : : : : : : : : : : : : : : :33 : : : : : : : : : : : : : : : :


35=44(t)-44(t-1)-23 : : : : : : : : : : : : : : : :36=50(t)-50(t-1)-29 : : : : : : : : : : : : : : : :

37=35-36 = 55(t)-55(t-1)-22 : : : : : : : : : : : : : : : :

38=34+37 = 56(t)-56(t-1)-77+21 : : : : : : : : : : : : : : : :


40=41+42+43 : : : : : : : : : : : : : : : :41 : : : : : : : : : : : : : : : :42 : : : : : : : : : : : : : : : :43 : : : : : : : : : : : : : : : :

44=45+..+49 : : : : : : : : : : : : : : : :45 : : : : : : : : : : : : : : : :46 : : : : : : : : : : : : : : : :47 : : : : : : : : : : : : : : : :48 : : : : : : : : : : : : : : : :

48a : : : : : : : : : : : : : : : :49 : : : : : : : : : : : : : : : :

50=51+..+54 : : : : : : : : : : : : : : : :51 : : : : : : : : : : : : : : : :52 : : : : : : : : : : : : : : : :53 : : : : : : : : : : : : : : : :54 : : : : : : : : : : : : : : : :

55=44-50 : : : : : : : : : : : : : : : :56=39-50=40+55 : : : : : : : : : : : : : : : :


58=64(t)-64(t-1) : : : : : : : : : : : : : : : :59 = 57+58 = 60+..+63 : : : : : : : : : : : : : : : :

60=23 : : : : : : : : : : : : : : : :

61=(-)33 : : : : : : : : : : : : : : : :

62 : : : : : : : : : : : : : : : :

63 : : : : : : : : : : : : : : : :64=65+66+69 : : : : : : : : : : : : : : : :

65 : : : : : : : : : : : : : : : :66=67+68 : : : : : : : : : : : : : : : :

67 : : : : : : : : : : : : : : : :68 : : : : : : : : : : : : : : : :

69=70+71 : : : : : : : : : : : : : : : :70 : : : : : : : : : : : : : : : :71 : : : : : : : : : : : : : : : :72 : : : : : : : : : : : : : : : :73 : : : : : : : : : : : : : : : :

74=45+46+48a : : : : : : : : : : : : : : : :

Table C - Memorandum items75 3.2 2.7 1.1 2.2 1.6 2.8 5.5 4.6 1.8 2.7 2.4 2.5 2.1 0.4 1.4 1.276 0.3 0.1 2.3 3.1 4.8 5.7 5.3 2.0 2.0 4.0 2.1 3.7 3.1 -2.1 2.0 0.2

77=20+18-7678 -0.1 1.2 3.1 3.8 6.2 6.6 4.2 -1.9 3.3 2.0 0.8 1.9 1.8 0.7 0.9 1.2

79 : : : : : : : : : : : : : : : :



3 Metadata


3 Metadata

Government Finance Statistics - MetadataItem number Item label ESA codes ESA labels

ESA transmission programme

Table A - Summary tableGovernment revenue and expenditure

1=2+6+7+8+9 Total revenue TR ESA table 2 2=3+4+5 Taxes ESA table 2

3 . Indirect taxes D.2r Taxes on production and imports, receivable ESA table 2 4 . Direct taxes D.5r Current taxes on income, wealth etc., receivable ESA table 2 5 . Capital taxes D.91r Capital taxes ESA table 2 6 Social contributions D.61r Net social contributions, receivable ESA table 2 7 Sales (incl. own account capital formation) P.11+P.12+P.131 Market output, output for own final use, and payments for other non-market output ESA table 2 8 Other current revenue D.39r+D.4r+D.7r Property income, receivable and Other subsidies on production, receivable and Other current transfers, receivable ESA table 2 9 Capital revenue D.92r+D.99r Investment grants, receivable and Other capital transfers, receivable ESA table 2

10=11+..+18 Total expenditure TE ESA table 2 11 Intermediate consumption P.2 Intermediate consumption ESA table 2 12 Compensation of employees D.1p Compensation of employees, payable ESA table 2 13 Interest D.41p Interest, payable ESA table 2 14 Subsidies D.3p Subsidies, payable ESA table 2 15 Social benefits D.62p+D.632p Social benefits other than social transfers in kind, and social transfers in kind via market producers, payable ESA table 2

15a of which other than transfers in kind D.62p Social benefits other than social transfers in kind ESA table 2 16 Other current expenditure D.29p+D.5p+D.42p+D.43p+D.44p+D.45p+D.7p+D.8 Current taxes on income, wealth etc., payable and Other property income, payable and Other current transfers, payable ESA table 2 17 Capital transfers payable D.9p Capital transfers, payable ESA table 2 18 Capital investments P.5+NP (OP5ANP) Gross capital formation and Acquisitions less disposals of non-financial non-produced assets ESA table 2 19 of which, gross fixed capital formation P.51g Gross fixed capital formation ESA table 2

Government deficit20=1-10 Net lending ( + ) / net borrowing (-) B9 Net lending (+) / net borrowing (-) ESA table 2

Government financing21=20-22

Statistical discrepancy(non-financial minus financial accounts)

Calculated

22=23-29 Net financial transactions B.9F ESA table 2723=24+..+28 Net acquisition of financial assets F.A ESA table 27

24 Currency and deposits F.2 Currency and deposits ESA table 2725 Debt securities F.3 Debt securities ESA table 2726 Loans F.4 Loans ESA table 2727 Shares and other equity F.5 Equity and investment fund shares ESA table 27

27a of which, investment fund shares F.52 Investment fund shares ESA table 27

28 Other financial assets F.1+F.6+F.7+F.8Monetary gold and special drawing rights + insurance, pension and standardised guarantees + financial derivatives and employee stock options + other accounts receivable

ESA table 27

29=30+..+33 Net incurrence of liabilities F.L ESA table 2730 Currency and deposits F.2 Currency and deposits ESA table 2731 Debt securities F.3 Debt securities ESA table 2732 Loans F.4 Loans ESA table 27

33 Other liabilities F.1+F.5+F.6+F.7+F.8Monetary gold and special drawing rights + equity and investment fund shares + insurance, pension and standardised guarantees + financial derivatives and employee stock options + other accounts payable

ESA table 27

Other economic flows in government assets and liabilities

34=40(t)-40(t-1)-18+76 Other changes in non-financial assetsK.1+K.2+K.3 (part)+K.4 (part)+K.5 (part)+K.61 (part)+K.7 (part)

Economic appearance of non-produced assets + economic disappearance of nonproduced assets + catastrophic losses + uncompensated seizures + other changes in volume n.e.c. + changes in classification + nominal holding gains / losses

Calculated

35=44(t)-44(t-1)-23 Other changes in financial assets K.3 (part)+K.4 (part)+K.5 (part)+K.61 (part)+K.7 (part)

Catastrophic losses + uncompensated seizures + other changes in volume n.e.c. + changes in classification + nominal holding gains / losses

Calculated

36=50(t)-50(t-1)-29 Other changes in liabilitiesK.3 (part)+K.4 (part)+K.5 (part)+K.61 (part)+K.7 (part)

Catastrophic losses + uncompensated seizures + other changes in volume n.e.c. + changes in classification + nominal holding gains / losses

Calculated

37=35-36 = 55(t)-55(t-1)-22

Changes in financial net worth due to other changes in assets / liabilities

Calculated

38=34+37 = 56(t)-56(t-1)-77+21

Changes in net worth due to other changes in assets / liabilities

B.10.2+B.10.3Changes in net worth due to other changes in volume of assets, and changes in net worth due to nominal holding gains / losses

Calculated

Government balance sheet 39=40+44 Total assets A Total assets ESA Table 26

40=41+42+43 Non-financial assets AN.1+AN.2 Total non-financial assets ESA Table 26

41 Fixed assets AN.11 Fixed assets ESA Table 2642 Other produced assets AN.1 - AN.11 ESA Table 2643 Non-produced assets AN.2 Non-produced non-financial assets ESA Table 26

44=45+..+49 Financial assets AF.A ESA table 2745 Currency and deposits AF.2 Currency and deposits ESA table 2746 Debt securities AF.3 Debt securities ESA table 2747 Loans AF.4 Loans ESA table 2748 Shares and other equity AF.5 Equity and investment fund shares ESA table 27

48a of which, Investment fund shares AF.52 Investment fund shares ESA table 27

49 Other financial assets AF.1+AF.6+AF.7+AF.8Monetary gold and special drawing rights + insurance, pension and standardised guarantees + financial derivatives and employee stock options + other accounts receivable

ESA table 27

50=51+..+54 Liabilities AF.L ESA table 2751 Currency and deposits AF.2 Currency and deposits ESA table 2752 Debt securities AF.3 Debt securities ESA table 2753 Loans AF.4 Loans ESA table 27

54 Other liabilities AF.1+AF.5+AF.6+AF.7+AF.8Monetary gold and special drawing rights + equity and investment fund shares + insurance, pension and standardised guarantees + financial derivatives and employee stock options + other accounts payable

ESA table 27

55=44-50 Financial net worth B.90F Net financial worth ESA table 27

56=39-50=40+55 Net worth B.90 Net worth ESA Table 26

Table B - Government debt and link with the deficit57=20 Government deficit (-) / surplus (+) B.9 EDP table 1

58=64(t)-64(t-1) Change in Government Debt EDP table 359 = 57+58 = 60+..+63 Stock-flow-adjustment (SFA) EDP table 3

60=23 Net acquisition of financial assets F.1+F.2+F.3+F.4+F.5+F.6+F.7+F.8Monetary gold and special drawing rights + currency and deposits + debt securities + loans + equity and investment fund shares + insurance, pension and standardised guarantees + financial derivatives + other accounts receivable

EDP table 3

61=(-)33 Incurrence in liabilities not in government debt F.1+F.5+F.6+F.7+F.8Monetary gold and special drawing rights, equity and investment fund shares, insurance, pension and standardised guarantees, financial derivatives, and other accounts payable

EDP table 3

62Valuation effects and other changes in volume in government debt

K.3 (part)+K.4 (part)+K.5 (part)+K.61 (part)+ K.7(part)+ face value effects

Catastrophic losses (part) + uncompensated seizures (part) + other changes in financial assets and liabilities n.e.c. + changes in classifications and structure(part) + nominal holding gains / losses(part) + face value effects (issuances / redemptions above / below par, difference between interest accrued and paid)

EDP table 3

63 Statistical discrepancies EDP table 364=65+66+69 Government debt (nominal / face value) AF.2+AF.3+AF.4 face value EDP table 1

65 . Currency and deposits AF.2 Currency and deposits EDP table 166=67+68 . Debt securities AF.3 Debt securities EDP table 1

67 .. short term AF.31 Short-term Debt securities EDP table 168 .. long term AF.32 Long-term Debt securities EDP table 1

69=70+71 . Loans AF.4 Loans EDP table 170 .. short term AF.41 Short-term loans EDP table 171 .. long term AF.42 Long-term loans EDP table 172 Intergovernmental lending (asset) part of AF.4 Loans bilateral IGL collection73 Intergovernmental lending (borrowing) part of AF.4 Loans bilateral IGL collection

74=45+46+48a Government liquid assets AF.2 +AF.3 +AF.52 Calculated

Table C - Memorandum items75 Government final consumption expenditure P.3 (Government) final consumption expenditure ESA table 2 76 Consumption of fixed capital P.51c Consumption of fixed capital ESA table 2

77=20+18-76 Net savings and capital transfers B.10.1 Changes in net worth due to savings and capital transfers ESA table 2

78 GDP B.1g Gross Domestic ProductEDP table 1 for available yearsESA table 1 for other years

79 Government employment (in thousands of persons) EMP Government employment (number of persons in thousands) ESA table 8

Where to find country-specific metadata and more detailed data in the database: In the data navigation tree choose database by themes / Economy and finance and then:

Table 2:Government statisticsGovernment finance statistics (EDP and ESA2010) Annual government finance statistics

Government revenue, expenditure and main aggregates (gov_10a_main) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_a_10main&lang=enTable 27:Government statisticsGovernment finance statistics (EDP and ESA2010) Quarterly government finance statistics

Quarterly financial accounts for general government (gov_10q_ggfa) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_q_10ggfa&lang=enTable 28 and IGL:Government statisticsGovernment finance statistics (EDP and ESA2010) Quarterly government finance statistics

Quarterly government debt (gov_10q_ggdebt) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10q_ggdebt&lang=enEDP Tables:Government statisticsGovernment finance statistics (EDP and ESA2010) Government deficit and debt

Government deficit/surplus, debt and associated data (gov_10dd_edpt1) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10dd_edpt1&lang=enTransition from the working balance to the deficit/surplus (gov_10dd_edpt2) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10dd_edpt2&lang=enTransition from the deficit/surplus to the change in debt (gov_10dd_edpt3) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=gov_10dd_edpt2&lang=en


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Governm

ent �nance statistics — Sum

mary tables

1/2018

Government � nance statistics — Summary tablesDATA 1995-2017

The tables in this publication present government � nance statistics (GFS) data by Member State, for the EU-28, for the euro area and for Iceland, Norway and Switzerland. The GFS presentation shows, in an integrated way: government revenue, government expenditure, government de� cit, transactions in assets and in liabilities, other economic � ows, and balance sheets. It gives a clear picture of the links between these data. The publication is intended primarily for national governments, Central Banks, economic analysts and academics with an interest in government � nance, although it could also be of interest to the wider public. Thevalue-added in comparison with other publications is to give an overviewof government � nances from several angles with consistent information.The publication covers data since 1995.

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KS-EK-18-001-EN-N

government ˜ nance statistics — summary tables · presentation assures a focus on economic...

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