World Economic Outlook Database, April 2014

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5. Report for Selected Countries and Subjects

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       Shaded cells indicate IMF staff estimates
CountrySubject DescriptorUnitsScaleCountry/Series-specific Notes20072008200920102011201220132014
ArgentinaGross domestic product, constant pricesNational currencyBillionsSource: Ministry of Economy
Latest actual data: 2012
Notes: The data for Argentina are officially reported data. The IMF has, however, issued a declaration of censure and called on Argentina to adopt remedial measures to address the quality of the official GDP data. Alternative data sources have shown significantly lower real growth than the official data since 2008. In this context, the Fund is also using alternative estimates of GDP growth for the surveillance of macroeconomic developments in Argentina.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1993
Chain-weighted: No
Primary domestic currency: Argentine pesos
Data last updated: 03/2014359,170383,444386,704422,136459,571468,301488,204490,647
AustraliaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office. Australian Bureau of Statistics (via Time Series Plus & dXdata)
Latest actual data: 2013
National accounts manual used: SNA 2008
GDP valuation: Market prices. Data refer to calendar years
Start/end months of reporting year: January/December
Base year: 2011/12
Chain-weighted: Yes, from before 1980. Annually-reweighted
Primary domestic currency: Australian dollars
Data last updated: 03/20141331,3971367,1481388,2631419,4471456,0921508,3391545,0031585,530
BrazilGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1995
Chain-weighted: No
Primary domestic currency: Brazilian reais
Data last updated: 03/2014986,2571037,2401033,8351111,7201142,0991153,8821180,2371201,761
CanadaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2007
Chain-weighted: Yes, from 1980
Primary domestic currency: Canadian dollars
Data last updated: 03/20141565,9001584,3061541,3481593,3571633,6401661,5591694,9411733,915
ChinaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office. Data retrieved from CEIC
Latest actual data: 2012. Flow of Funds: latest available observation is 2009.
National accounts manual used: SNA 2008
GDP valuation: Market prices. Production-based measure
Start/end months of reporting year: January/December
Base year: 1990. China GDP deflator does not equal 100 in the base year. This is due to the fact that, in the base year, there is a discrepancy between production-based and expenditure-based nominal GDP series. Reported NGDP series are production-based, while NGDP_R series are estimated using expenditure based nominal GDP in the base year and contributions to growth in subsequent years.
Chain-weighted: No
Primary domestic currency: Chinese yuan
Data last updated: 03/201410693,20411723,45812803,68114141,28015456,40316639,21317915,63819266,200
FranceGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Euros
Data last updated: 03/20141800,6591799,2061742,5841772,6391808,5691808,8201813,7041832,385
GermanyGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Notes: Data until 1990 refers to German federation only (West Germany). National accounts data until 1990 do not include FISIM. Data from 1991 refer to United Germany and include FISIM.
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005. The GDP deflator in the base year is not exactly equal to 100 since it is computed based on the quarterly real GDP data, which have been adjusted for seasonal and calendar effects.
Chain-weighted: Yes, from 1991. From 1991.
Primary domestic currency: Euros
Data last updated: 03/20142385,6132404,8552282,5682370,5992451,1782473,1442486,4342528,940
IndiaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office. The original data is in fiscal years, which begins in April and ends in March, to match with authorities' reporting methods.
Latest actual data: 2012/13. Official data for the latest year are revised estimates. Data available on quarter-by-quarter basis.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: April/March
Base year: 2004/05. The base year is by Fiscal Year, which is April to March (e.g. FY2004: April 2004 – March 2005)
Chain-weighted: No
Primary domestic currency: Indian rupees
Data last updated: 03/201442509,47444163,50047908,50052823,90056330,50058998,50061565,41664901,143
IndonesiaGross domestic product, constant pricesNational currencyBillionsSource: CEIC
Latest actual data: 2013
National accounts manual used: SNA 1993. Authortity have plans to implement 2008 SNA by 2014.
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000. The revision of the base year of national accounts to 2010 is in progress with technical assistance from STA, and GDP estimates based on 2010 are expected by 2013.
Chain-weighted: No
Primary domestic currency: Indonesian rupiah
Data last updated: 03/20141964327,3002082456,1212178850,3322314458,8002464566,1002618938,4002770345,1002918826,085
ItalyGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2012
GDP valuation: Gross domestic product, chained
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Euros
Data last updated: 03/20141492,6711475,4121394,3471418,3761424,7521391,0181365,2271373,780
JapanGross domestic product, constant pricesNational currencyBillionsSource: Global Insight and Nomura database.
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Japanese yen
Data last updated: 03/2014523685,800518230,900489588,400512364,200510044,500517424,800525390,200532485,820
KoreaGross domestic product, constant pricesNational currencyBillionsSource: CEIC
Latest actual data: 2012
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from before 1980
Primary domestic currency: Korean won
Data last updated: 03/2014956514,500978498,900981625,1001043666,3001082095,5001104214,7001134853,2001176944,517
MexicoGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2008
Chain-weighted: No
Primary domestic currency: Mexican pesos
Data last updated: 03/201412087,60212256,86311680,75012277,65912764,45013263,60113404,64413805,324
RussiaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Notes: Gross capital formation includes statistical discrepancy.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2008. Reference year for the chain-linking is 2008. The data are derived by applying annual real growth rates to 2008 nominal GDP.
Chain-weighted: Yes, from 1995
Primary domestic currency: Russian rubles
Data last updated: 03/201439218,70041276,80038057,21039769,78441479,88542890,20143441,04044017,633
Saudi ArabiaGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office. Central Department of Statistics and Information (CDSI), Ministry of Economy and Planning.
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Factor costs
Start/end months of reporting year: January/December
Base year: 1999
Chain-weighted: No
Primary domestic currency: Saudi Arabian riyals
Data last updated: 03/2014899,602975,410993,2551067,0941158,5451225,8911272,4461324,485
South AfricaGross domestic product, constant pricesNational currencyBillionsSource: Central Bank
Latest actual data: 2012. 2012 for overall GDP data. 2011 for demand-side components.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: No
Primary domestic currency: South African rand
Data last updated: 03/20141751,1651814,5941786,9001843,0081909,3431956,4441993,4332040,162
TurkeyGross domestic product, constant pricesNational currencyBillionsSource: Haver Analytics. Formally, the Turkish Statistical Institute (TurkStat)
Latest actual data: 2012. For quarterly data, latest actual is 2013Q3.
National accounts manual used: ESA 1995. Series prior to 1998 were not revised according to ESA 1995.
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1998
Chain-weighted: No
Primary domestic currency: Turkish lira
Data last updated: 03/2014101,255101,92297,003105,886115,175117,675122,723125,505
United KingdomGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: Yes, from 1980
Primary domestic currency: Sterling pounds
Data last updated: 03/20141552,9891541,0391461,3611485,6161502,2161505,9931532,4311576,537
United StatesGross domestic product, constant pricesNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
National accounts manual used: Other
GDP valuation: Real Gross Domestic Product determined by chained Fisher quantity growth rates.
Start/end months of reporting year: January/December
Base year: 2009
Chain-weighted: Yes, from 1980
Primary domestic currency: U.S. dollars
Data last updated: 03/201414876,80014833,57514417,92514779,35015052,37515470,72515761,30016197,557
ArgentinaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).8,6536,7590,8509,1628,8681,9004,2500,500
AustraliaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).4,5362,6851,5442,2462,5823,5882,4312,623
BrazilGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).6,0965,169-0,3287,5342,7331,0322,2841,824
CanadaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).2,0081,175-2,7113,3742,5281,7092,0092,299
ChinaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).14,1629,6359,21410,4479,3007,6537,6717,538
FranceGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).2,285-0,081-3,1471,7252,0270,0140,2701,030
GermanyGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).3,3890,807-5,0853,8573,3990,8960,5371,709
IndiaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).9,8013,8918,48010,2606,6384,7364,3515,418
IndonesiaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).6,3456,0144,6296,2246,4866,2645,7815,360
ItalyGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).1,683-1,156-5,4941,7230,450-2,368-1,8540,626
JapanGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).2,192-1,042-5,5274,652-0,4531,4471,5391,351
KoreaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).5,1062,2980,3196,3203,6822,0442,7753,709
MexicoGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).3,1481,400-4,7005,1103,9653,9101,0632,989
RussiaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).8,5355,248-7,8004,5004,3003,4001,2841,327
Saudi ArabiaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).5,9928,4271,8297,4348,5705,8133,7984,090
South AfricaGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).5,5483,622-1,5263,1403,5992,4671,8912,344
TurkeyGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).4,6690,659-4,8269,1578,7732,1714,2902,267
United KingdomGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).3,427-0,769-5,1701,6601,1170,2511,7562,878
United StatesGross domestic product, constant pricesPercent change See notes for: 
Gross domestic product, constant prices (National currency).1,790-0,291-2,8022,5071,8472,7791,8782,768
ArgentinaGeneral government gross debtNational currencyBillionsSource: Ministry of Economy. http://www.mecon.gov.ar/onp/html/ejectexto/cuenta_nac_dosuno.html?var1=cuentanacdosnueve
Latest actual data: 2012
Notes: Government gross debt refers to the central government including untendered debt.
Fiscal assumptions: The 2012 estimates are based on data on outturns and IMF staff estimates. For the outer years, the fiscal balance is projected to remain roughly at the current level.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash. Central (National) government net lending/borrowing includes interest payments on accrual basis.
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Argentine pesos
Data last updated: 03/2014546,794603,610672,324709,032826,8551032,3411254,1971782,213
AustraliaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance. Treasury Department
Latest actual data: 2012/13
Fiscal assumptions: Fiscal projections are based on the 2013-14 Mid-Year Economic and Fiscal Outlook, Australian Bureau of Statistics, and IMF staff projections.
Start/end months of reporting year: January/December. July/June by authorities, and Jan/Dec by staff
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;State Government;Other;. Other includes Territory governments
Valuation of public debt: Nominal value
Primary domestic currency: Australian dollars
Data last updated: 03/2014109,500145,040210,925278,186352,511407,782447,499498,367
BrazilGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Notes: General Government (GG) data refers to the non-financial public sector, which includes the federal, state and local governments as well as public enterprises (excluding Petrobras and Eletrobras), and is consolidated with the Central Bank and the Sovereign Wealth Fund (SWF). Revenue and expenditures of federal public enterprises are added in full to the respective aggregates. Transfers or withdrawals from the SWF do not impact the primary balance. Disaggregated data on gross interest payments and interest receipts is available from 2007 onwards only. Prior to 2007, Total Revenue of the GG excludes interest receipts, while Total Expenditure of the GG includes net interest payments. Gross public debt comprises the treasury bills at the central bank's balance sheet, including those not used under repurchase agreements.
Fiscal assumptions: For 2013, preliminary outturn estimates are based on the information available as of January 2014.  Projections for 2014 take into account the latest adjustments to the original budget, as per Presidential Decree of February 2014. In outer years, the IMF staff assumes adherence to the announced primary target.
Start/end months of reporting year: January/December
GFS Manual used: 2001. No separate info in capital revenue is available, hence the GFSM 2001 adjustments could not be made to total revenue may still include capital revenue and net acquisition of nonfinancial assets may not be net of capital revenue.
Basis of recording: Cash
General government includes: Central Government;Local Government;Monetary Public Corporations, incl. central bank;Nonfinancial Public Corporation;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Brazilian reais
Data last updated: 03/20141733,9831923,9722164,6072449,8302678,5022994,5713209,2473487,515
CanadaGeneral government gross debtNational currencyBillionsSource: Haver Analytics. The source for gross and net debt is OECD.
Latest actual data: 2013
Notes: Fiscal data are on a calendar year basis.
Fiscal assumptions: Projections use the baseline forecasts in Economic Action Plan 2014 (the fiscal year 2014/15 budget) and 2014 provincial budgets as available. The IMF staff makes adjustments to this forecast for differences in macroeconomic projections. IMF staff forecast also incorporates the most recent data releases from Statistics Canada’s Canadian System of National Economic Accounts, including federal, provincial, and territorial budgetary outturns through the end of the fourth quarter of 2013.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Comment: Preliminary data: based on quarterly data.
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Canadian dollars
Data last updated: 03/20141041,6091173,3071273,6661381,9051470,0001603,6811674,9751708,893
ChinaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance. Data retrieved from CEIC
Latest actual data: 2013
Notes: Fiscal Balance: Data differ from official figures released by China’s Ministry of Finance mainly because of a difference in treatment of net contributions to the Budget Stabilization Fund. General Government Debt: Data differ from official figures released by China’s Ministry of Finance because IMF numbers include, from 2010 onward, the stock of local government debt outstanding as reported in the June 2011 National Audit Office Report. For subsequent years, we have followed the amortization schedule outlined in the same report.
Fiscal assumptions: The pace of fiscal consolidation is likely to be more gradual reflecting reforms to strengthen social safety nets and social security system announced at the Third Plenum reform agenda.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;Local Government;State Government;
Valuation of public debt: Face value
Primary domestic currency: Chinese yuan
Data last updated: 03/20145207,4655327,1546023,76813465,76213588,06813547,43212740,48512684,261
FranceGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2012
Fiscal assumptions: Projections for 2014 reflect the budget law. For 2015-2017 they are based on the 2013–17 multiyear budget, April 2013 stability plan, and medium term projection annexed to the 2014 budget adjusted for differences in assumptions on macro and financial variables, and revenue projections. The fiscal data for 2011 were revised following a May 15, 2013 revision by the statistical institute of both national accounts and fiscal accounts. Fiscal data for 2012 reflect preliminary outturn published by the statistical institute in May 2013. Projections for 2013 reflect discussion with the authorities on monthly development on spending and revenue.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/20141211,6001318,6001493,4001595,0001716,9001833,8001934,7982018,603
GermanyGeneral government gross debtNational currencyBillionsSource: National Statistical Office. Data of general government gross debt comes from EUROSTAT
Latest actual data: 2013
Fiscal assumptions: The estimates for 2013 are preliminary estimates from the Federal Statistical Office of Germany. The IMF staff’s projections for 2014 and beyond reflect the authorities’ adopted core federal government budget plan adjusted for the differences in the IMF staff’s macroeconomic framework and staff assumptions about fiscal developments in state and local governments, the social insurance system, and special funds. The estimate of gross debt includes portfolios of impaired assets and noncore business transferred to institutions that are winding up as well as other financial sector and EU support operations.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;. other refers to special funds
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/20141583,7451652,7971769,8932057,3082086,8162160,1932137,0422110,789
IndiaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance. and IMF staff calculations
Latest actual data: 2012/13. State Level data arrive with significantly longer lag than Central data.
Fiscal assumptions: Historical data are based on budgetary execution data. Projections are based on available information on the authorities’ fiscal plans, with adjustments for IMF staff assumptions. Subnational data are incorporated with a lag of up to two years; general government data are thus finalized well after central government data. IMF and Indian presentations differ, particularly regarding divestment and license auction proceeds, net versus gross recording of revenues in certain minor categories, and some public sector lending.
Start/end months of reporting year: April/March. The original data from the authority is on FY (Apr/Mar) basis.
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;. This is according to the authorities' account standards.
Valuation of public debt: Nominal value. Authorities debt figures often
Primary domestic currency: Indian rupees
Data last updated: 03/201436916,83141964,29246981,58652509,83260142,82867373,89775533,97883551,194
IndonesiaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: IMF projections for 2013-18 based on a gradual increase in administrative fuel prices, introduction from 2014 of new social protections, and moderate tax policy and administration reforms.
Start/end months of reporting year: January/December. From 2000 onward
GFS Manual used: 2001
Basis of recording: Cash. The budget in Indonesia is reported on cash basis. There is an ongoing project to change to accrual basis in their reporting in the coming years.
General government includes: Central Government;Local Government;. The general government composition consists of Central Government and Subnational levels, including Provinces and municipalities. Social Security Funds will be included in the general government reporting in the future.
Valuation of public debt: Face value. Book value
Primary domestic currency: Indonesian rupiah
Data last updated: 03/20141384791,1611644844,8071605420,0401681700,0001808900,0001977700,0002371400,0002628282,502
ItalyGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2012
Fiscal assumptions: Fiscal projections incorporate the government’s announced fiscal policy, as outlined in the 2014 Budgetary Plan adjusted for different growth outlooks and estimated impact of measures. Estimates of the cyclically adjusted balance include the expenditure to clear capital arrears in 2013, which are excluded from the structural balance. After 2014, the IMF staff projects convergence to a structural balance in line with Italy’s fiscal rule, which implies corrective measures in some years, as yet unidentified. Fiscal proposals by the new government were announced after the finalization of the WEO projections and are not included in the figures.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/20141605,1261670,9931769,2261851,2171906,8461989,5002067,5002133,741
JapanGeneral government gross debtNational currencyBillionsSource: Cabinet Office of Japan
Latest actual data: 2012
Fiscal assumptions: The projections include fiscal measures already announced by the government, including consumption tax increases, earthquake reconstruction spending, and the stimulus package.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;. Government in Japan consists of 3 layers: central, prefectural, and municipal. The latter two government levels are covered under local government. There is no government at the state level in Japan.
Valuation of public debt: Nominal value. Gross public debt includes equity shares.
Primary domestic currency: Japanese yen
Data last updated: 03/2014938808,000961380,300990554,0001041719,1001083243,1001124488,6001163497,5341199078,039
KoreaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2012
Fiscal assumptions: The medium-term forecast incorporates the government’s announced medium-term consolidation path.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;. For government gross/net debt only, general government includes central government and local government, starting from 2001.
Valuation of public debt: Nominal value
Primary domestic currency: Korean won
Data last updated: 03/2014298902,000309046,000359609,000392237,500422839,000445133,000490607,947531330,535
MexicoGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Fiscal projections for 2014 are broadly in line with the approved budget; projections for 2014 onwards assume compliance with the rules established in the Fiscal Responsibility Law.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Currently the Mexico team is submitting data to WEO using GFSM2001 classification by doing some in-house adjustments with the help of STA. This classification is also used to present fiscal tables in the Art IV reports (in addition to standard tables used for discussion with Mexican authorities). However, Mexican authorities are not yet reporting public finance data using the GFSM2001 manual. Thus, accrual data are not available to the Mexico team.
Basis of recording: Cash
General government includes: Central Government;Nonfinancial Public Corporation;Social Security Funds;. Mexican authorities currently report fiscal data including the central government, financial and non-financial public corporations and entities, and the social security system. As of today, this is the relevant coverage level for policy discussion with Mexican authorities, and the team believes that it is important to keep the broadest available coverage. As the authorities continue transitioning toward GFSM2001 and report data accordingly, the Mexico team will be able to report data in line with GFSM2001, in particular regarding state governments.  
Valuation of public debt: Face value
Primary domestic currency: Mexican pesos
Data last updated: 03/20144280,0945249,2885312,1435608,9416285,5246746,2887471,0338214,908
RussiaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Projections for 2013–19 are based on the oil-price-based fiscal rule introduced in December 2012, with adjustments by IMF staff.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash is reported on a high frequency basis, accrual is reported on an annual basis with a significant lag.
General government includes: Central Government;Social Security Funds;State Government;
Valuation of public debt: Current market value
Primary domestic currency: Russian rubles
Data last updated: 03/20142829,7803250,8004252,1005112,3006515,1607875,1009017,9809416,309
Saudi ArabiaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: The authorities base their budget on a conservative assumption for oil prices with adjustments to expenditure allocations considered in the event that revenues exceed budgeted amounts. IMF staff projections of oil revenues are based on World Economic Outlook baseline oil prices. On the expenditure side, wage bill estimates incorporate 13th-month pay awards every three years in accordance with the lunar calendar; capital spending estimates over the medium term are in line with the authorities’ priorities established in the National Development Plans.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;Other;. Other is comprised of autonomous government institutions, such as social security funds, and the country team is evaluating the coverage.
Valuation of public debt: Nominal value
Primary domestic currency: Saudi Arabian riyals
Data last updated: 03/2014266,800235,000225,100166,900135,50098,80075,00075,000
South AfricaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2012/13
Fiscal assumptions: Fiscal projections are based on the authorities’ Medium Term Budget Policy Statement, released on October 23, 2013.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: South African rand
Data last updated: 03/2014571,200614,491760,441944,1821138,5001321,2251531,2251736,868
TurkeyGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Fiscal projections assume that both current and capital spending will be above the authorities’ 2013-2015 Medium-Term Program based on current trends and policies.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Turkish lira
Data last updated: 03/2014336,490380,067438,870465,180507,887512,208564,713624,056
United KingdomGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2012
Notes: General government variables exclude the effects of temporary effect of financial interventions.
Fiscal assumptions: Fiscal projections are based on the U.K. Treasury’s 2014 Budget, published in March 2014. However, on the revenue side, the authorities’ projections are adjusted for differences between IMF staff forecasts of macroeconomic variables (such as GDP growth) and the forecasts of these variables assumed in the authorities’ fiscal projections. In addition, IMF staff projections exclude the temporary effects of financial sector interventions and the effect on public sector net investment during 2012–13 of transferring assets from the Royal Mail Pension Plan to the public sector. Real government consumption and investment are part of the real GDP path, which, according to the IMF staff, may or may not be the same as projected by the U.K. Office for Budget Responsibility. Transfers of profits from the Bank of England’s Asset Purchases Facility affect general government  net interest payments. The timing of these payments can create differences between fiscal year primary balances published by the authorities and calendar year balances shown in the WEO.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;. The concept of  state government  and  social security funds  is not applicable to the UK.
Valuation of public debt: Nominal value
Primary domestic currency: Sterling pounds
Data last updated: 03/2014624,327758,665950,9961165,5591295,9231387,9111460,3041561,248
United StatesGeneral government gross debtNational currencyBillionsSource: BEA and IMF's Government Finance Statistics Yearbook (revenue, expenditure, and net lending); Flow of Funds (debt)
Latest actual data: 2013
Notes: Revenue, expenditure, and net lending data are compiled according to the GFSM2001 methodology. Due to data limitations, most series begin 2001.
Fiscal assumptions: Fiscal projections are based on the February 2014 Congressional Budget Office baseline adjusted for the IMF staff’s policy and macroeconomic assumptions. The baseline incorporates the key provisions of the Bipartisan Budget Act of 2013, including a partial rollback of the sequester spending cuts in fiscal years 2014 and 2015. The rollback is fully offset by savings elsewhere in the budget. In fiscal years 2016 through 2021, the IMF staff assumes that the sequester cuts will continue to be partially replaced, in portions similar to the case in fiscal years 2014 and 2015, with back-loaded measures generating savings in mandatory programs and additional revenues. Over the medium term, the IMF staff assumes that Congress will continue to make regular adjustments to Medicare payments (DocFix) and will extend certain traditional programs (such as the research and development tax credit). Fiscal projections are adjusted to reflect the IMF staff’s forecasts of key macroeconomic and financial variables and different accounting treatment of financial sector support and are converted to a general government basis. Historical data start at 2001 for most series as data compiled according to GFSM2001 may not be available for the earlier years.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: U.S. dollars
Data last updated: 03/20149268,21010721,24512407,20514181,52515379,20616627,16517558,54018527,005
ArgentinaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).67,38658,51158,70049,17844,94047,72746,91452,946
AustraliaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).9,67711,72216,74020,48124,27227,16128,79030,831
BrazilGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).65,15463,45166,82164,98164,65168,18166,33566,667
CanadaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).66,51871,28381,28083,10983,52288,11689,11987,381
ChinaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).19,59116,96317,67033,53828,72126,07922,39720,203
FranceGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).64,21568,20879,19382,35685,78590,23393,87695,756
GermanyGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).65,21566,81274,54782,45779,95881,01578,06374,551
IndiaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).74,02574,53672,52767,45866,75366,61966,71765,306
IndonesiaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).35,05033,23828,63626,08624,38124,03226,10526,030
ItalyGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).103,277106,085116,420119,288120,691126,969132,530134,509
JapanGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).183,012191,812210,247215,952229,836237,345243,222243,519
KoreaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).30,65630,10833,76533,43134,23434,98236,67337,984
MexicoGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).37,56442,85043,94542,24143,27243,28446,47948,123
RussiaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).8,5117,87610,95711,04011,70912,74113,40812,950
Saudi ArabiaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).17,11512,05613,9898,4485,3973,5902,6842,589
South AfricaGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).28,33127,23231,57935,31338,82042,09145,23147,302
TurkeyGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).39,90739,98546,07342,33539,13736,17835,84935,929
United KingdomGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).43,72451,89067,09678,45684,31988,56290,09591,503
United StatesGeneral government gross debtPercent of GDP See notes for: 
General government gross debt (National currency).64,00572,83386,05494,80799,005102,355104,517105,697
Notes
  Country/Series-specific Notes  
  Argentina: Gross domestic product, constant prices (National currency)
Source: Ministry of Economy
Latest actual data: 2012
Notes: The data for Argentina are officially reported data. The IMF has, however, issued a declaration of censure and called on Argentina to adopt remedial measures to address the quality of the official GDP data. Alternative data sources have shown significantly lower real growth than the official data since 2008. In this context, the Fund is also using alternative estimates of GDP growth for the surveillance of macroeconomic developments in Argentina.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1993
Chain-weighted: No
Primary domestic currency: Argentine pesos
Data last updated: 03/2014


Australia: Gross domestic product, constant prices (National currency)
Source: National Statistical Office. Australian Bureau of Statistics (via Time Series Plus & dXdata)
Latest actual data: 2013
National accounts manual used: SNA 2008
GDP valuation: Market prices. Data refer to calendar years
Start/end months of reporting year: January/December
Base year: 2011/12
Chain-weighted: Yes, from before 1980. Annually-reweighted
Primary domestic currency: Australian dollars
Data last updated: 03/2014


Brazil: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1995
Chain-weighted: No
Primary domestic currency: Brazilian reais
Data last updated: 03/2014


Canada: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 2008
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2007
Chain-weighted: Yes, from 1980
Primary domestic currency: Canadian dollars
Data last updated: 03/2014


China: Gross domestic product, constant prices (National currency)
Source: National Statistical Office. Data retrieved from CEIC
Latest actual data: 2012. Flow of Funds: latest available observation is 2009.
National accounts manual used: SNA 2008
GDP valuation: Market prices. Production-based measure
Start/end months of reporting year: January/December
Base year: 1990. China GDP deflator does not equal 100 in the base year. This is due to the fact that, in the base year, there is a discrepancy between production-based and expenditure-based nominal GDP series. Reported NGDP series are production-based, while NGDP_R series are estimated using expenditure based nominal GDP in the base year and contributions to growth in subsequent years.
Chain-weighted: No
Primary domestic currency: Chinese yuan
Data last updated: 03/2014


France: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Euros
Data last updated: 03/2014


Germany: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
Notes: Data until 1990 refers to German federation only (West Germany). National accounts data until 1990 do not include FISIM. Data from 1991 refer to United Germany and include FISIM.
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005. The GDP deflator in the base year is not exactly equal to 100 since it is computed based on the quarterly real GDP data, which have been adjusted for seasonal and calendar effects.
Chain-weighted: Yes, from 1991. From 1991.
Primary domestic currency: Euros
Data last updated: 03/2014


India: Gross domestic product, constant prices (National currency)
Source: National Statistical Office. The original data is in fiscal years, which begins in April and ends in March, to match with authorities' reporting methods.
Latest actual data: 2012/13. Official data for the latest year are revised estimates. Data available on quarter-by-quarter basis.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: April/March
Base year: 2004/05. The base year is by Fiscal Year, which is April to March (e.g. FY2004: April 2004 – March 2005)
Chain-weighted: No
Primary domestic currency: Indian rupees
Data last updated: 03/2014


Indonesia: Gross domestic product, constant prices (National currency)
Source: CEIC
Latest actual data: 2013
National accounts manual used: SNA 1993. Authortity have plans to implement 2008 SNA by 2014.
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2000. The revision of the base year of national accounts to 2010 is in progress with technical assistance from STA, and GDP estimates based on 2010 are expected by 2013.
Chain-weighted: No
Primary domestic currency: Indonesian rupiah
Data last updated: 03/2014


Italy: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2012
GDP valuation: Gross domestic product, chained
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Euros
Data last updated: 03/2014


Japan: Gross domestic product, constant prices (National currency)
Source: Global Insight and Nomura database.
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from 1980
Primary domestic currency: Japanese yen
Data last updated: 03/2014


Korea: Gross domestic product, constant prices (National currency)
Source: CEIC
Latest actual data: 2012
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: Yes, from before 1980
Primary domestic currency: Korean won
Data last updated: 03/2014


Mexico: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2008
Chain-weighted: No
Primary domestic currency: Mexican pesos
Data last updated: 03/2014


Russia: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
Notes: Gross capital formation includes statistical discrepancy.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2008. Reference year for the chain-linking is 2008. The data are derived by applying annual real growth rates to 2008 nominal GDP.
Chain-weighted: Yes, from 1995
Primary domestic currency: Russian rubles
Data last updated: 03/2014


Saudi Arabia: Gross domestic product, constant prices (National currency)
Source: National Statistical Office. Central Department of Statistics and Information (CDSI), Ministry of Economy and Planning.
Latest actual data: 2013
National accounts manual used: SNA 1993
GDP valuation: Factor costs
Start/end months of reporting year: January/December
Base year: 1999
Chain-weighted: No
Primary domestic currency: Saudi Arabian riyals
Data last updated: 03/2014


South Africa: Gross domestic product, constant prices (National currency)
Source: Central Bank
Latest actual data: 2012. 2012 for overall GDP data. 2011 for demand-side components.
National accounts manual used: SNA 1993
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2005
Chain-weighted: No
Primary domestic currency: South African rand
Data last updated: 03/2014


Turkey: Gross domestic product, constant prices (National currency)
Source: Haver Analytics. Formally, the Turkish Statistical Institute (TurkStat)
Latest actual data: 2012. For quarterly data, latest actual is 2013Q3.
National accounts manual used: ESA 1995. Series prior to 1998 were not revised according to ESA 1995.
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 1998
Chain-weighted: No
Primary domestic currency: Turkish lira
Data last updated: 03/2014


United Kingdom: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: ESA 1995
GDP valuation: Market prices
Start/end months of reporting year: January/December
Base year: 2010
Chain-weighted: Yes, from 1980
Primary domestic currency: Sterling pounds
Data last updated: 03/2014


United States: Gross domestic product, constant prices (National currency)
Source: National Statistical Office
Latest actual data: 2013
National accounts manual used: Other
GDP valuation: Real Gross Domestic Product determined by chained Fisher quantity growth rates.
Start/end months of reporting year: January/December
Base year: 2009
Chain-weighted: Yes, from 1980
Primary domestic currency: U.S. dollars
Data last updated: 03/2014


Argentina: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Australia: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Brazil: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Canada: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


China: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


France: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Germany: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


India: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Indonesia: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Italy: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Japan: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Korea: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Mexico: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Russia: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Saudi Arabia: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


South Africa: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Turkey: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


United Kingdom: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


United States: Gross domestic product, constant prices (Percent change)
See notes for:
Gross domestic product, constant prices (National currency).


Argentina: General government gross debt (National currency)
Source: Ministry of Economy. http://www.mecon.gov.ar/onp/html/ejectexto/cuenta_nac_dosuno.html?var1=cuentanacdosnueve
Latest actual data: 2012
Notes: Government gross debt refers to the central government including untendered debt.
Fiscal assumptions: The 2012 estimates are based on data on outturns and IMF staff estimates. For the outer years, the fiscal balance is projected to remain roughly at the current level.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash. Central (National) government net lending/borrowing includes interest payments on accrual basis.
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Argentine pesos
Data last updated: 03/2014


Australia: General government gross debt (National currency)
Source: Ministry of Finance. Treasury Department
Latest actual data: 2012/13
Fiscal assumptions: Fiscal projections are based on the 2013-14 Mid-Year Economic and Fiscal Outlook, Australian Bureau of Statistics, and IMF staff projections.
Start/end months of reporting year: January/December. July/June by authorities, and Jan/Dec by staff
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;State Government;Other;. Other includes Territory governments
Valuation of public debt: Nominal value
Primary domestic currency: Australian dollars
Data last updated: 03/2014


Brazil: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Notes: General Government (GG) data refers to the non-financial public sector, which includes the federal, state and local governments as well as public enterprises (excluding Petrobras and Eletrobras), and is consolidated with the Central Bank and the Sovereign Wealth Fund (SWF). Revenue and expenditures of federal public enterprises are added in full to the respective aggregates. Transfers or withdrawals from the SWF do not impact the primary balance. Disaggregated data on gross interest payments and interest receipts is available from 2007 onwards only. Prior to 2007, Total Revenue of the GG excludes interest receipts, while Total Expenditure of the GG includes net interest payments. Gross public debt comprises the treasury bills at the central bank's balance sheet, including those not used under repurchase agreements.
Fiscal assumptions: For 2013, preliminary outturn estimates are based on the information available as of January 2014. Projections for 2014 take into account the latest adjustments to the original budget, as per Presidential Decree of February 2014. In outer years, the IMF staff assumes adherence to the announced primary target.
Start/end months of reporting year: January/December
GFS Manual used: 2001. No separate info in capital revenue is available, hence the GFSM 2001 adjustments could not be made to total revenue may still include capital revenue and net acquisition of nonfinancial assets may not be net of capital revenue.
Basis of recording: Cash
General government includes: Central Government;Local Government;Monetary Public Corporations, incl. central bank;Nonfinancial Public Corporation;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Brazilian reais
Data last updated: 03/2014


Canada: General government gross debt (National currency)
Source: Haver Analytics. The source for gross and net debt is OECD.
Latest actual data: 2013
Notes: Fiscal data are on a calendar year basis.
Fiscal assumptions: Projections use the baseline forecasts in Economic Action Plan 2014 (the fiscal year 2014/15 budget) and 2014 provincial budgets as available. The IMF staff makes adjustments to this forecast for differences in macroeconomic projections. IMF staff forecast also incorporates the most recent data releases from Statistics Canada’s Canadian System of National Economic Accounts, including federal, provincial, and territorial budgetary outturns through the end of the fourth quarter of 2013.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Comment: Preliminary data: based on quarterly data.
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Canadian dollars
Data last updated: 03/2014


China: General government gross debt (National currency)
Source: Ministry of Finance. Data retrieved from CEIC
Latest actual data: 2013
Notes: Fiscal Balance: Data differ from official figures released by China’s Ministry of Finance mainly because of a difference in treatment of net contributions to the Budget Stabilization Fund. General Government Debt: Data differ from official figures released by China’s Ministry of Finance because IMF numbers include, from 2010 onward, the stock of local government debt outstanding as reported in the June 2011 National Audit Office Report. For subsequent years, we have followed the amortization schedule outlined in the same report.
Fiscal assumptions: The pace of fiscal consolidation is likely to be more gradual reflecting reforms to strengthen social safety nets and social security system announced at the Third Plenum reform agenda.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;Local Government;State Government;
Valuation of public debt: Face value
Primary domestic currency: Chinese yuan
Data last updated: 03/2014


France: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2012
Fiscal assumptions: Projections for 2014 reflect the budget law. For 2015-2017 they are based on the 2013–17 multiyear budget, April 2013 stability plan, and medium term projection annexed to the 2014 budget adjusted for differences in assumptions on macro and financial variables, and revenue projections. The fiscal data for 2011 were revised following a May 15, 2013 revision by the statistical institute of both national accounts and fiscal accounts. Fiscal data for 2012 reflect preliminary outturn published by the statistical institute in May 2013. Projections for 2013 reflect discussion with the authorities on monthly development on spending and revenue.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/2014


Germany: General government gross debt (National currency)
Source: National Statistical Office. Data of general government gross debt comes from EUROSTAT
Latest actual data: 2013
Fiscal assumptions: The estimates for 2013 are preliminary estimates from the Federal Statistical Office of Germany. The IMF staff’s projections for 2014 and beyond reflect the authorities’ adopted core federal government budget plan adjusted for the differences in the IMF staff’s macroeconomic framework and staff assumptions about fiscal developments in state and local governments, the social insurance system, and special funds. The estimate of gross debt includes portfolios of impaired assets and noncore business transferred to institutions that are winding up as well as other financial sector and EU support operations.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;. other refers to special funds
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/2014


India: General government gross debt (National currency)
Source: Ministry of Finance. and IMF staff calculations
Latest actual data: 2012/13. State Level data arrive with significantly longer lag than Central data.
Fiscal assumptions: Historical data are based on budgetary execution data. Projections are based on available information on the authorities’ fiscal plans, with adjustments for IMF staff assumptions. Subnational data are incorporated with a lag of up to two years; general government data are thus finalized well after central government data. IMF and Indian presentations differ, particularly regarding divestment and license auction proceeds, net versus gross recording of revenues in certain minor categories, and some public sector lending.
Start/end months of reporting year: April/March. The original data from the authority is on FY (Apr/Mar) basis.
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;. This is according to the authorities' account standards.
Valuation of public debt: Nominal value. Authorities debt figures often
Primary domestic currency: Indian rupees
Data last updated: 03/2014


Indonesia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: IMF projections for 2013-18 based on a gradual increase in administrative fuel prices, introduction from 2014 of new social protections, and moderate tax policy and administration reforms.
Start/end months of reporting year: January/December. From 2000 onward
GFS Manual used: 2001
Basis of recording: Cash. The budget in Indonesia is reported on cash basis. There is an ongoing project to change to accrual basis in their reporting in the coming years.
General government includes: Central Government;Local Government;. The general government composition consists of Central Government and Subnational levels, including Provinces and municipalities. Social Security Funds will be included in the general government reporting in the future.
Valuation of public debt: Face value. Book value
Primary domestic currency: Indonesian rupiah
Data last updated: 03/2014


Italy: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2012
Fiscal assumptions: Fiscal projections incorporate the government’s announced fiscal policy, as outlined in the 2014 Budgetary Plan adjusted for different growth outlooks and estimated impact of measures. Estimates of the cyclically adjusted balance include the expenditure to clear capital arrears in 2013, which are excluded from the structural balance. After 2014, the IMF staff projects convergence to a structural balance in line with Italy’s fiscal rule, which implies corrective measures in some years, as yet unidentified. Fiscal proposals by the new government were announced after the finalization of the WEO projections and are not included in the figures.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Face value
Primary domestic currency: Euros
Data last updated: 03/2014


Japan: General government gross debt (National currency)
Source: Cabinet Office of Japan
Latest actual data: 2012
Fiscal assumptions: The projections include fiscal measures already announced by the government, including consumption tax increases, earthquake reconstruction spending, and the stimulus package.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;. Government in Japan consists of 3 layers: central, prefectural, and municipal. The latter two government levels are covered under local government. There is no government at the state level in Japan.
Valuation of public debt: Nominal value. Gross public debt includes equity shares.
Primary domestic currency: Japanese yen
Data last updated: 03/2014


Korea: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2012
Fiscal assumptions: The medium-term forecast incorporates the government’s announced medium-term consolidation path.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;. For government gross/net debt only, general government includes central government and local government, starting from 2001.
Valuation of public debt: Nominal value
Primary domestic currency: Korean won
Data last updated: 03/2014


Mexico: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Fiscal projections for 2014 are broadly in line with the approved budget; projections for 2014 onwards assume compliance with the rules established in the Fiscal Responsibility Law.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Currently the Mexico team is submitting data to WEO using GFSM2001 classification by doing some in-house adjustments with the help of STA. This classification is also used to present fiscal tables in the Art IV reports (in addition to standard tables used for discussion with Mexican authorities). However, Mexican authorities are not yet reporting public finance data using the GFSM2001 manual. Thus, accrual data are not available to the Mexico team.
Basis of recording: Cash
General government includes: Central Government;Nonfinancial Public Corporation;Social Security Funds;. Mexican authorities currently report fiscal data including the central government, financial and non-financial public corporations and entities, and the social security system. As of today, this is the relevant coverage level for policy discussion with Mexican authorities, and the team believes that it is important to keep the broadest available coverage. As the authorities continue transitioning toward GFSM2001 and report data accordingly, the Mexico team will be able to report data in line with GFSM2001, in particular regarding state governments.  
Valuation of public debt: Face value
Primary domestic currency: Mexican pesos
Data last updated: 03/2014


Russia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Projections for 2013–19 are based on the oil-price-based fiscal rule introduced in December 2012, with adjustments by IMF staff.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash is reported on a high frequency basis, accrual is reported on an annual basis with a significant lag.
General government includes: Central Government;Social Security Funds;State Government;
Valuation of public debt: Current market value
Primary domestic currency: Russian rubles
Data last updated: 03/2014


Saudi Arabia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: The authorities base their budget on a conservative assumption for oil prices with adjustments to expenditure allocations considered in the event that revenues exceed budgeted amounts. IMF staff projections of oil revenues are based on World Economic Outlook baseline oil prices. On the expenditure side, wage bill estimates incorporate 13th-month pay awards every three years in accordance with the lunar calendar; capital spending estimates over the medium term are in line with the authorities’ priorities established in the National Development Plans.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;Other;. Other is comprised of autonomous government institutions, such as social security funds, and the country team is evaluating the coverage.
Valuation of public debt: Nominal value
Primary domestic currency: Saudi Arabian riyals
Data last updated: 03/2014


South Africa: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2012/13
Fiscal assumptions: Fiscal projections are based on the authorities’ Medium Term Budget Policy Statement, released on October 23, 2013.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Cash
General government includes: Central Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: South African rand
Data last updated: 03/2014


Turkey: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Fiscal projections assume that both current and capital spending will be above the authorities’ 2013-2015 Medium-Term Program based on current trends and policies.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: Turkish lira
Data last updated: 03/2014


United Kingdom: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2012
Notes: General government variables exclude the effects of temporary effect of financial interventions.
Fiscal assumptions: Fiscal projections are based on the U.K. Treasury’s 2014 Budget, published in March 2014. However, on the revenue side, the authorities’ projections are adjusted for differences between IMF staff forecasts of macroeconomic variables (such as GDP growth) and the forecasts of these variables assumed in the authorities’ fiscal projections. In addition, IMF staff projections exclude the temporary effects of financial sector interventions and the effect on public sector net investment during 2012–13 of transferring assets from the Royal Mail Pension Plan to the public sector. Real government consumption and investment are part of the real GDP path, which, according to the IMF staff, may or may not be the same as projected by the U.K. Office for Budget Responsibility. Transfers of profits from the Bank of England’s Asset Purchases Facility affect general government net interest payments. The timing of these payments can create differences between fiscal year primary balances published by the authorities and calendar year balances shown in the WEO.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;. The concept of state government and social security funds is not applicable to the UK.
Valuation of public debt: Nominal value
Primary domestic currency: Sterling pounds
Data last updated: 03/2014


United States: General government gross debt (National currency)
Source: BEA and IMF's Government Finance Statistics Yearbook (revenue, expenditure, and net lending); Flow of Funds (debt)
Latest actual data: 2013
Notes: Revenue, expenditure, and net lending data are compiled according to the GFSM2001 methodology. Due to data limitations, most series begin 2001.
Fiscal assumptions: Fiscal projections are based on the February 2014 Congressional Budget Office baseline adjusted for the IMF staff’s policy and macroeconomic assumptions. The baseline incorporates the key provisions of the Bipartisan Budget Act of 2013, including a partial rollback of the sequester spending cuts in fiscal years 2014 and 2015. The rollback is fully offset by savings elsewhere in the budget. In fiscal years 2016 through 2021, the IMF staff assumes that the sequester cuts will continue to be partially replaced, in portions similar to the case in fiscal years 2014 and 2015, with back-loaded measures generating savings in mandatory programs and additional revenues. Over the medium term, the IMF staff assumes that Congress will continue to make regular adjustments to Medicare payments (DocFix) and will extend certain traditional programs (such as the research and development tax credit). Fiscal projections are adjusted to reflect the IMF staff’s forecasts of key macroeconomic and financial variables and different accounting treatment of financial sector support and are converted to a general government basis. Historical data start at 2001 for most series as data compiled according to GFSM2001 may not be available for the earlier years.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;State Government;
Valuation of public debt: Nominal value
Primary domestic currency: U.S. dollars
Data last updated: 03/2014


Argentina: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Australia: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Brazil: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Canada: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


China: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


France: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Germany: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


India: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Indonesia: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Italy: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Japan: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Korea: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Mexico: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Russia: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Saudi Arabia: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


South Africa: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


Turkey: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


United Kingdom: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


United States: General government gross debt (Percent of GDP)
See notes for:
General government gross debt (National currency).


 
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