Terms

General government = central government, local government, and social security funds.

State finances = budget finance and extra-budgetary funds.

EMU-deficit = Net borrowing / net lending of general government

Financial deficit = Net borrowing = Negative net lending

Budget deficit = Net financing reguirement of the state budget.

EMU-debt = Consolidated gross debt of the general government at nominal value.

Consolidated debt= debts to/from general government sector have been eliminated

Gross debt = financial assets do not affect debt

ESA95 = "European System of Accounts 1995" manual of the European Union for the compiling of economic statistics. Adopted in deficit reporting in 2000.

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Tables: EMU deficit and debt
Definitions

Updated: 28.2.2005