Definition
In terms of National Accounts, the negative difference resulting from the resources and uses, current and capital, of the entire General Government, or it can also be defined as the negative difference between the net variation of financial assets and the net variation of liabilities
Further information
A more general term is net lending (+) / borrowing (-) of General Government. The deficit is equivalent to the net borrowing (-).
Related concepts
References
- Manual on Government Deficit and Debt – Implementation of ESA 2010 – 2022 edition.
- Government Finance Statistics (Eurostat).
Legal frame
- Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community.
- Council Regulation (EU) No 679/2010 of 26 July 2010 amending Regulation (EC) No 479/2009 as regards the quality of statistical data in the context of the excessive deficit procedure.
- Council Regulation (EU) No 1177/2011 of 8 November 2011 amending Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure.
Links to data tables
Update date: January 2025
