Government deficit/surplus and debt levels

National Statistical Institute

"Financial National Accounts" Department

Peter Kamenov

Elena Petrova

Desislava Malinkova

Head of Department

State expert

State expert

2, P. Volov Str.; 1038 Sofia, Bulgaria

[email protected]

[email protected]

[email protected]

+359 2 9857 516

+359 2 9857 507

+359 2 9857 192

The deficit /surplus of the sector "General Government" and the debt are important indicators, which are used for assessing the fiscal position of the government sector. They form a part of convergent criteria for membership in European Economic and Monetary Union (e.g. Maastricht criteria). The level of deficit / surplus and debt of the General Government are measured with net borrowing (-) / net lending (+). General government consolidated gross debt is in nominal value and its due in the end of the year. The indicator is presented by financial instruments categories.

· European System of Accounts, 2010 (ESA 2010);

· ESA 2010 Manual on government deficit and debt.

In accordance of ESA 2010 General Government sector consists of three sub-sectors: Central Government, Local Government and Social Security Funds.

Data on deficit and debt of sector "General Government" have been developed in accordance with the Manual of Government deficit and debt, Council Regulation (EC) 479/2009 on the application of the Protocol on the excessive deficit procedure (EDP) and 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, Commission Regulation (EU) No 220/2014 of 7 March 2014 amending Council Regulation (EC) No 479/2009 as regards references to the European system of national and regional accounts in the European Unionas, as well as Commission Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts

The statistical unit is an institutional unit as defined in ESA'2010. The institutional units are grouped to general government sector and its sub-sectors.

General Government sector and its three sub-sectors: Central Government, Local Government and Social Security Funds.

Republic of Bulgaria

2020 - 2023

Not applicable.

Million BGN

Calendar year.

• Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union

· 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 ;

• Commission Regulation (EU) No 220/2014 of 7 March 2014 amending Council Regulation (EC) No 479/2009 as regards references to the European system of national and regional accounts in the European Union

Data sharing is determined by a Memorandum of Cooperation in the field of Government Finance Statistics between National Statistical Institute, Bulgarian National Bank and Ministry of Finance.

· Law on Statistics, Article 25;

· Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.

Data are treated as confidential during the validation process from Eurostat, until the news release.

The date for publication of statistical information is shown in the Release Calendar presenting the results of the statistical surveys carried out by the National Statistical Institute. Statistical information about the deficit and debt of sector General Government is provided to Eurostat and published on the NSI website twice a year (preliminary data in April and the final - in October).

The calendar is available on the NSI website: https://www.nsi.bg/en/node/480

Data are published on NSI website, section Government Finance Statistics in accordance with the Statistics Act and the European Statistics Code of Practice, respecting professional independence and objectivity to transparency, in which all users are treated equitably.

The statistical information of deficit and surplus of the General Government sector is provided to EUROSTAT and published at the website of National Statistical Institute (NSI) twice a year (preliminary data in April and final data in October).

The press releases are published on the NSI website.

Not applicable.

Detailed information is available for all users at the NSI website under section Government Finance Statistics, Government deficit/surplus and debt levels by sub-sectors of General Government: https://www.nsi.bg/en/node/5287

Not applicable.

Not applicable.

· EDP Consolidated Inventory of Sources and Methods (Bulgaria);

· ESA'2010 Manual on Government Deficit and Debt;

· European System of Accounts ( ESA 2010).

Not applicable.

Quality of data is assured by adherence to the ESA'2010 and ESA'2010 Manual on Government Deficit and Debt and by the validation of data by Eurostat.

Not applicable.

Not investigated.

Not investigated.

All required data are available.

Full coverage.
 

Not available.

Not available.
 

Not available.

According to Council Regulation 479/2009 as amended the statistical information on deficit and surplus of the General Government sector should be provided to Eurostat twice a year: preliminary data before 1 April and final data before 1 October.

Terms under previous item are strictly followed.
 

Consistency with tables in ESA 2010 transmission program.

Not applicable.

Not applicable.

Consistency with tables in ESA 2010 transmission program.

Not applicable.

Not available.

Adherence to Eurostat revision policy.

Adherence to Eurostat revision policy.

Main data sources to compilation a notification tables are:

· reports of cash implementation of the consolidated state budget and individual budgetary entities;

· trial balances of the subsectors of General Government;

· the financial statements of the institutional units which are included in addition to sector "General Government" (government-owned hospitals, FLAG and other non-financial enterprises);

· statistical information on the issued and used compensatory instruments provided by the Central Depository.

Twice per year.

Exhaustively for all units of General Government sector.

Data are validated by Eurostat.

The information on deficit/ surplus and debt is based on the main data sources and additional calculation is applied according to accepted by member states definition and methodological rules regarding coverage and estimation of transaction for General Government sector, according to developed by EUROSTAT Manual for Deficit and Debt. According to Eurostat requirements the information on deficit / surplus and debt of the General Government sector, is different from this in national methodology mainly that the transactions of the sector are reported on accrual bases and the influence of the amount received from European Union is eliminated.

Not applicable.