General government or public sector operations

Coverage:

This comprehensive statistical framework covers general (central plus state or provincial and local) government or the public sector, depending on which coverage is the focus of policy and analysis in a particular country. The standard calls for revenue, expenditure, balance, and where relevant/feasible, domestic (with a bank/nonbank breakdown) and foreign financing. In other cases, financing transactions may be presented by type of instrument, currency of issue, or other relevant characteristics. Dissemination of separately identifiable data on interest payments, as part of expenditures, is encouraged. Classification of the surplus/deficit determining transactions according to the IMF’s A Manual on Government Finance Statistics is encouraged.

Periodicity: Annual

Timeliness: Two quarters

Central government operations

Coverage:

Central government operations are prescribed by the standard as a tracking indicator, providing a more frequent and timely indicator of fiscal stance than is usual with general government or public sector operations. They should cover, in addition to budgetary accounts, as wide a range of central government units (social security and extrabudgetary units and accounts) as is feasible. The standard prescribes a deficit/surplus being the concept in use in the country, and the principal determinants of that balance. Dissemination of data on total interest payments, as part of expenditures, is encouraged. Aggregate financing is prescribed and, where relevant, a breakdown between domestic and external financing, according to residence, should be presented. Domestic financing should be divided between that provided by the banking system and that provided by other domestic sectors. In other cases, financing transactions may be presented by type of instrument, currency of issue, or other relevant characteristics. Classification and definition of the surplus/deficit determining items according to the IMF’s A Manual on Government Finance Statistics is encouraged.

Periodicity: Monthly

Timeliness: One month

Central government debt

Coverage:

The standard prescribes dissemination of data that reflect the comprehensive debt liabilities of central government and, where analytically useful, the debt of other units that is guaranteed by the central government. It prescribes that data be disaggregated as relevant to a country’s circumstances. Breakdowns by maturity, preferably by remaining maturity, are called for. Where feasible, a breakdown of debt by foreign and domestic components according to residence should be provided. Where this is not feasible a number of breakdowns are acceptable: these include a breakdown by currency and debt instrument or debt holder. Dissemination of government debt service (interest and amortization) projections is encouraged. Classification and definition of debt may be described according to the guidelines of A Manual on Government Finance Statistics, the recommendations in External Debt: Definition, Statistical Coverage, and Methodology or regional guidelines.

Periodicity: Quarterly

Timeliness: One quarter

Friday 10 October 2008

Fiscal Sector - Second Quarter 2008 - August 2008