|Unit||Mil. EUR, NSA|
|Adjustments||Not Seasonally Adjusted|
Government deficit and debt are key indicators of the government sector's financial position. They are reported to the European Commission in the framework of the Excessive Deficit Procedure (EDP). Government deficit and debt also form two of the convergence criteria for European monetary union.
Definition of indicators:
Data sources used: Data are based on annual national accounts of general government, derived primarily from administrative and other records of general government, and on official estimates particularly from ministries of finance. Basic data are in national currency.
Type of survey: Tables of the EDP notification, to be completed by national authorities.
Techniques of data collection: Once data are compiled by national authorities in the reporting format, they are transmitted to DG ECFIN and to Eurostat.
For years covered by the latest EDP notification (back to t-4), revision policy should be in line with the 'Code of best practice' agreed between the Commission and Member States.
Data for earlier years (t-5 backwards) are revised in the database by Eurostat whenever Member States provide revised data. The GDP denominator for years t-5 backwards are revised whenever the GDP of the Eurostat database is revised.
For more information please refer to: http://epp.eurostat.ec.europa.eu/cache/ITY_SDDS/EN/gov_dd_base.htm#data