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ADMINISTRATIVE INFORMATION
  Title GFS - Government Finance Statistics
  Data source ECB, European Commission (Eurostat) and OECD.
  Contact email address Statistical Information Request form
 
LEGAL AND INSTITUTIONAL ENVIRONMENT
  Institutional mandate European System of Accounts 2010 (ESA 2010).
  Legal acts and other agreements In accordance with the ESA 2010, Regulation (EC) 220/2014 amending Regulation 479/2009 for government debt. ECB Guideline on government finance statistics (ECB/2014/21) for annual GFS, ESA 2010 for quarterly GFS.
 
SCOPE
  Data presentation - Summary description Government finance statistics (GFS) provide a comprehensive overview of fiscal developments in the euro area, the European Union, and individual EU Member States.

Short presentation of data items  Annual GFS data are based on the data transmitted at least twice a year to the European Central Bank (ECB) by the national central banks (NCBs). Quarterly GFS are based on the data transmitted by Eurostat and are defined by reference to the European System of Accounts 2010. Monthly government debt securities indicators are compiled from the security-by-security information collected in the ESCB’s Centralised Securities Database (CSDB). This information allows the compilation of the outstanding amounts, issuances, redemptions, average residual maturity, annual growth rates, schedules of maturing debt, and other indicators.

Government assistance to the financial sector is also referred to as financial assistance measures (FAM), this dataset is part of the GFS. These data are highly requested by economists to analyse the economic impact (actual and potential) of such public policy interventions, and by policymakers to attune fiscal policy instruments. Further information and analysis on FAM data can be found in the Statistics Paper Series.

GFS data presented in the ECB Statistical Data Warehouse (SDW) are organized within eight sub-categories:
1. revenue
2. expenditure
3. deficit/surplus and consumption
4. EU budget transactions 
5. government debt
6. change in debt
7. financial accounts
8. Government assistance to the financial sector

More details related to GFS data can be accessed on the government finance website (link). More details on monthly “Debt securities issuance and service by EU governments” can be accessed (link).       
  Reference area coverage  Individual EU Member States, the euro area and the EU aggregates, US and Japan.
  Sector coverage General government sector (S13) and the sub-sectors: central government (S1311), state government (S1312), local government (S1313) and social security funds (S1314).
 
METHODOLOGICAL INFORMATION
  Source data type ESCB for annual GFS; European Commission (Eurostat) for quarterly GFS; ECB for monthly government debt securities indicators; OECD for US and Japan GFS.
  Time period Mainly from 1995 for annual GFS; from 1999Q1 for quarterly GFS; and from Dec-2009 for monthly GFS.
  Statistical unit National currency and EUR.
  Valuation Accrual. 
Market prices for non-financial and financial transactions and financial positions; face value for government debt and change in government debt.
Mainly consolidated. Intergovernmental lending within the context of the financial crisis is consolidated in government debt and change in debt data for the euro area and the EU aggregates.
 
STATISTICAL PROCESSING
  Adjustment Not adjusted; calendar and seasonally adjusted.
 
MISCELLANEOUS
  Metadata last update 06/DEC/2018 11:45:05

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