Government; Balance and Maastricht debt, sectors

Government; Balance and Maastricht debt, sectors

Institutional sectors Periods Balance and debt (million euros) Structure of balance Balance (million euros) Balance and debt (million euros) Structure of balance Revenue (million euros) Balance and debt (million euros) Structure of balance Expenditure (-) (million euros) Balance and debt (million euros) Maastricht debt (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Change in Maastricht debt (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Deficit (EMU) (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Net acquisition of financial assets (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Transactions in other liabilities (-) (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Valuation effects (million euros) Balance and debt (million euros) Structure of change in Maastricht debt Statistical discrepancy (-) (million euros)
General government 2020 2nd quarter* -23,883 82,452 -106,335 441,535 38,394 23,883 17,308 -545 -2,729 477
Central government 2020 2nd quarter* -27,064 41,785 -68,849 432,996 44,130 27,064 23,073 -3,736 -2,754 483
The State 2020 2nd quarter* -27,710 39,553 -67,263 438,300 45,094 27,710 23,022 -3,367 -2,754 483
Other central government 2020 2nd quarter* 646 8,236 -7,590 4,691 -43 -646 1,025 -422 0 0
Local government 2020 2nd quarter* -653 29,218 -29,871 56,124 -1,739 653 -2,230 -181 25 -6
Municipalities 2020 2nd quarter* -781 16,613 -17,394 42,332 -1,902 781 -2,593 -83 -1 -6
Local intergovernmental organisations 2020 2nd quarter* -41 3,228 -3,269 3,120 42 41 210 -236 27 0
Provinces 2020 2nd quarter* -51 1,485 -1,536 928 171 51 103 17 0 0
Public water boards 2020 2nd quarter* -21 888 -909 7,800 2 21 -67 48 0 0
Other local government 2020 2nd quarter* 241 10,413 -10,172 7,797 -2 -241 227 12 0 0
Social security funds 2020 2nd quarter* 3,834 51,046 -47,212 37,506 6,012 -3,834 12,394 -2,548 0 0
Source: CBS.
Explanation of symbols

Table description


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 consequent 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 shall 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 1995-2017 are final. The quarterly figures for 2018 are provisional. The annual figures for 2018 are final. The figures for 2019 and 2020 are provisional.

Changes as of 23 September 2020:
Figures on the second quarter of 2020 are available.
The figures for the first quarter of 2020 have been adjusted.

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.

Description topics

Balance and debt (million euros)
Balance and Maastricht debt in million euros.

Balance and consolidated debt (valued at face value) excluding other accounts payable and debt on financial derivatives, in million euros.

Balance of revenue and expenditure of the government sector. In national accounts it equals net lending/net borrowing of the government sector.

Government debt is consolidated, which means that debt in the same sector has been eliminated.
Structure of balance
Balance of revenue and expenditure of the government sector.
Balance
Balance of revenue and expenditure of the government sector. A positive figure indicates a surplus, a negative figure indicates a deficit. In national accounts it equals net lending/net borrowing of the government sector.
Revenue
Revenue of the government sector consists of taxes and social contributions, production revenue, other current revenue, and received capital transfers.

The time of recording is on an accrual basis.
Expenditure (-)
Expenditure of the government sector consists of intermediate consumption, compensation of employees, interest, social benefits and social transfers in kind via market production, other current expenditure, and capital expenditure.

The time of recording is on an accrual basis.
Maastricht debt
Consolidated debt of the government sector (valued at face value) excluding other accounts payable and debt on financial derivatives. Consolidated means that debt in the same sector has been eliminated.
Structure of change in Maastricht debt
Increase or decrease of Maastricht debt. The change in Maastricht debt consists of the deficit or surplus, changes in financials assets and liabilities and an unexplained residual, the statistical discrepancy.
Change in Maastricht debt
Increase or decrease of Maastricht debt. The change in Maastricht debt consists of the deficit or surplus, changes in financials assets and liabilities and an unexplained residual, the statistical discrepancy.
Deficit (EMU)
Negative balance of revenue and expenditure of the government. It equals the balance, however with an opposite sign. A positive figure indicates a deficit, a negative figure indicates a surplus.
Net acquisition of financial assets
Transactions in financial assets are changes in currency and deposits, debt securities, loans, equity, financial derivatives and other accounts receivable, which are economic flows between units by mutual agreement.
Transactions in other liabilities (-)
Transactions in financial liabilities that are not part of Maastricht debt. Transaction are economic flows between units by mutual agreement.

Transactions in liabilities that are not part of the Maastricht debt definition. They are:
- Equity.
- Financial derivatives.
- Other accounts payable.
Valuation effects
Changes in Maastricht debt that are the result in changes of value, for instance due to currency changes.
Statistical discrepancy (-)
Difference between the balance of revenue and expenditure (+) and the balance of transactions in financial assets and liabilities (-).

Theoretically, both balances are equal. However, in practice differences occur, for instance due to the use of different data sources.