Government Finance Statistics (GFS) form the basis for fiscal monitoring in Europe. Annual government deficit and debt statistics are reported to the European Commission in the framework of the Excessive Deficit Procedure (EDP). Government revenue and expenditure, annual and quarterly, are reported by Member States under the ESA 95 transmission programme.Â
General government net borrowing/net lending (deficit/surplus), and general government debt, form two of the convergence criteria for EMU. The following series are as reported in the EDP tables:
Deficit/surplus of the general government sector;
General government debt;
General government gross fixed capital formation;
General government primary balance
Intergovernmental lending within the EU and euro area in the context of the financial crisis.Â
Total general government revenue and total general government expenditure annual series are reported by national authorities in ESA table 2 of the ESA 95 transmission programme. General government deficit/surplus and general government debt quarterly series are reported by national authorities in ESA tables 25 and 28, respectively, of the ESA 95 transmission programme.