Government; Balance and Maastricht debt, sectors

This table shows data on the balance and Maastricht debt of general government. These figures are also known as EMU-balance and EMU-debt (EMU stands for the Economic and Monetary Union). In this table, yearly and quarterly figures are subdivided to subsectors of general government. Furthermore, this table shows the relation between the government balance and change in Maastricht debt. Balance and debt are the most import indicators for the healthiness of government finances in the European Union. In the Maastricht treaty and the consistent Stability and Growth Pact, it was decided that government deficit may not exceed 3 percent of gross domestic product (GDP) and Maastricht debt may not be higher than 60 percent of GDP. If government deficit exceeds the threshold of 3 percent, the member state in question will be subject to the excessive deficit procedure. The terms and definitions used are in accordance with the framework of the national accounts. The national accounts are based on the international definitions of the European System of Accounts (ESA 2010).However, Maastricht debt is valued at face value whereas debt instruments in national accounts are valued at market value. Maastricht debt covers the following debt instruments: deposits, short term debt securities, long term debt securities, short term loans and long term loans. Small temporary differences in data in this table with publications of the national accounts may occur due to the fact that the government finance statistics are sometimes more up to date. Data available from: Yearly figures from 1995, quarterly figures from 1999. Status of the figures: The figures for the period 1995-2018 are final. The quarterly figures for 2019 are provisional. The annual figures for 2019 are final. The figures for 2020 and 2021 are provisional. Changes as of 25 March 2022: Figures for the fourth quarter of 2021 and annual figures for 2021 are available. The figures for 2020 and the first three quarters of 2021 have been revised.The revisions to government finance statistics of 2020 have not been implemented in National Accounts. Therefore, data in publications of National Accounts and government finance statistics are temporarily not consistent. Data on 2020 have been revised, in particular as a result of up-to-date information about corona support measures. The changes will be explained in a news item on March 25th 2022.Balance, revenue, expenditure, net acquisition of financial assets and transactions in other liabilities have been adjusted. Differences will be resolved with the next publication date, June 24th 2022. When will new figures be published? Provisional quarterly figures are published three months after the end of the quarter. In September the figures on the first quarter may be revised, in December the figures on the second quarter may be revised and in March the first three quarters may be revised. Yearly figures are published for the first time three months after the end of the year concerned. Yearly figures are revised two times: 6 and 18 months after the end of the year. Please note that there is a possibility that adjustments might take place at the end of March or September, in order to provide the European Commission with the latest figures. Revised yearly figures are published in June each year. Quarterly figures are aligned to revised years at the end of June. More information on the revision policy of Dutch national accounts and government finance statistics can be found under ‘relevant articles’ under paragraph 3.