Public finance: all public administrations: outputs in line with ESA 2010 statistics

This table presents some public finance variables on an annual basis, both in current prices (in billion euro) and as a percentage of GDP. Government finance statistics are compiled in the conceptual framework of the European System of National and Regional Accounts (ESA 2010), complemented by the ESA 2010 Manual on Government Deficit and Debt. Public finance statistics form the basis of European fiscal monitoring, in particular statistics on the excessive deficit procedure (EDP). Some concepts: - Total revenue: correspond to the sum of tax and parafiscal revenue and non-tax and non-parafiscal revenue of all general government - Total expenditure excluding interest charges: correspond to the primary expenditure of the general government as a whole - Primary balance: difference between total revenue and total expenditure, excluding interest payments - EDP interest expense: interest on borrowings, cash position and hedging products under the Excessive Deficit Procedure - EDP financing balance: The EDP funding balance is an important standard for the budgets of the EU Member States. This balance represents the difference between ESA revenue and ESA expenditure. According to the Maastricht Treaty, the deficit of an EMU country cannot exceed 3% of GDP. - Public debt (Maastricht definition): general government debt as defined in the Maastricht Treaty is the nominal value of all outstanding gross liabilities at the end of the period (year, quarter) of the general government sector, with the exception of liabilities whose corresponding financial assets are held by the general government sector. The commitments referred to above relate to the following categories: cash and deposits, loans and securities other than shares, excluding financial derivatives, as defined in ESA 2010.