Quarterly Government Debt (also called Quarterly Maastricht Debt)

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Presentation transcript:

Quarterly Government Debt (also called Quarterly Maastricht Debt)

1. Introduction and legal acts Quarterly government debt – Council regulation (EC) no 1222/2004 of 28 June 2004 Currently concerns EU 27 + Data from Norway and possibly, Iceland in the future

2. Definition Total consolidated gross debt of general government at nominal/face value outstanding at the end of a quarter By this definition, quarterly government debt is identical to EDP (Maastricht debt)

2. Definition Consolidated (debt held by other sub-sectors of GG should be eliminated) Recorded at nominal value Including accrued interests when they are actually credited Note differences with ESA-95 debt definition

3. Components AF2: Currency and deposits AF21 Currency AF22_29 Deposits AF33: Securities other than shares, exc. financial derivatives - AF331 Short-term - AF332 Long-term AF4: Loans - AF41 Short-term - AF42 Long-term

3. Components Detail by sub-sector not requested in the regulation As agreed practice, all countries transmit the breakdowns by sub-sector of general government: central government (S1311), state government (S1312), local government (S1313) and social security funds (S1314) Sub-sectors are consolidated within but not between

4. Data checking Several checks carried out: Internal and External checks Fourth quarter debt compared with the end-of-year debt sent with the EDP notification exercise

5. Data transmission The data should be transmitted from 2000Q1 onwards Timeliness: 90 days after the end of the reference quarter Gesmes/TS. Since 1st July 2008, eDamis Single Entry Point.