Government deficit and debt in the EU-countries

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Statistics Denmark, Public Finance
Jesper Lillebro Feddersen.
+45 20 51 61 92

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Government deficit and debt in the EU-countries 2023

EMU-debt and EMU-deficit (Government deficit and debt) is the statistical data required for the excessive deficit procedure (EDP) in the Economic and Monetary Union in according to the Maastricht Treaty and Stability- and Growth Pact. The EU-Commission uses the statistics to monitor and examine the development of the budgetary situation and government debt in Denmark in accordance with the Maastricht Treaty convergence criteria. The Compilations are based on the European System of Accounts (ESA2010). However, on some points they differ from ESA2010, e.g. on the valuation of debt, which is at nominal value.

Statistical presentation

The compilation of consolidated gross debt at nominal value for general government is sometimes referred to as EMU-debt/government debt. The deficit is sometimes referred to as the EMU-deficit/government deficit. Government deficit and debt in EU was first published in spring 2003. Covering data on ESA2010 back from 2010, at the moment. Danish Government deficit and debt was first published in fall 2004. Covering data on ESA2010 back from 2000.

Statistical processing

Main sources are balance sheets and income statements from the central government, regions and municipalities and and social security funds. Frequency of data collection is Semi-annual and quarterly. Because of the number of consistency checks and data confrontations facilitated by the system of accounts. Further more Eurostat/EU-commission assess the quality of EDP-data by a detailed inventory, a clarificationproces after the notifications and by standard dialogue and upstream visits every second year.

Relevance

High.

Accuracy and reliability

The government deficit and debt is based on accounts figures for the whole general government sector that have a very limited degree of inaccuracy.

The statistical uncertainty is not calculated.

The overall accuracy is considered to be relatively high.

Timeliness and punctuality

Debt: End of the quarter and end of the year.
Deficit: Current year.

The statistics are usually published without delay in relation to the scheduled date.

Comparability

Government EMU-debt is to a certain degree comparable with quarterly financial accounts for general government since both statistics are based on the sectors and instruments defined in ESA2010. The primary differences are: Government EMU-debt is based on nominal values, while quarterly financial accounts for General Government are based on market values.

In a similar way, Government Deficit is comparable with the national accounts compilations of net-lending for General Government in the so called March- and June-versions.

Accessibility and clarity

These statistics are published in a Danish press release and in the StatBank under EMU debt and EMU balance.