World Economic Outlook Database, April 2015

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5. Report for Selected Countries and Subjects

You will find notes on the data and options to download the table below your results.
       Shaded cells indicate IMF staff estimates
CountrySubject DescriptorUnitsScaleCountry/Series-specific Notes2016
AustriaGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Projections take only the tax-related measures for the financing of the recent income tax reform into account (although the yield from the anti-tax fraud measures is highly uncertain). For 2014, the creation of a defeasance structure for Hypo Alpe Adria is assumed to increase the general government debt-to-GDP ratio by 5½ percentage points, and the deficit effect arising from Hypo is assumed at 1.8 percentage points.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015302.897
BelgiumGeneral government gross debtNational currencyBillionsSource: Central Bank
Latest actual data: 2013
Fiscal assumptions: Projections reflect the authorities’ 2015 budget adjusted for differences in the IMF staff’s macroeconomic framework and assumptions about fiscal developments in the federal, regional, and local governments.
Start/end months of reporting year: January/December
GFS Manual used: 2001. ESA 2010 data definitions
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;Other;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015445.433
CyprusGeneral government gross debtNational currencyBillionsSource: EUROSTAT
Latest actual data: 2014
Fiscal assumptions: Projections are on a cash basis based on the latest information on the budget, fiscal measures, and staff's macroeconomic assumptions.
Start/end months of reporting year: January/December
GFS Manual used: Methodology is ESA 2010
Basis of recording: ESA 95 for history and ESA 95 classification but on a cash basis for projections in line with the program
General government includes: Central Government;Local Government;Social Security Funds;. Extra-Budgetary Funds are also part of the General Government composition.
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/201519.837
EstoniaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: The forecast, which is cash-, not accrual-, based, incorporates the authorities’ 2014 budget, adjusted for newly available information and for the staff’s macroeconomic scenario.
Start/end months of reporting year: January/December
GFS Manual used: Hybrid of 1986 and 2001 manuals used
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value. This is the format of data provided by the authorities.
Primary domestic currency: Euro
Data last updated: 03/20152.161
FinlandGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Based on announced policies by the authorities, adjusted for the Staff macroeconomic scenario.
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: Nominal value. Nominal Value debt valuation is consistent with Eurostat's definition
Primary domestic currency: Euro
Data last updated: 03/2015134.253
FranceGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Projections for 2015 reflect the budget law. For 2016–17, they are based on the multiyear budget adjusted for differences in assumptions on macro and financial variables, and revenue projections. Historical fiscal data reflect the September 2014 revision by the statistical institute of fiscal accounts and the May 2014 revision of national accounts.
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;Other;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/20152,186.187
GermanyGeneral government gross debtNational currencyBillionsSource: National Statistical Office. Data of general government gross debt comes from EUROSTAT
Latest actual data: 2014
Fiscal assumptions: The IMF staff’s projections for 2015 and beyond reflect the authorities’ adopted core federal government budget plan, adjusted for the differences in the IMF staff’s macroeconomic framework and 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;State Government;Local Government;Social Security Funds;. other refers to special funds
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/20152,065.780
GreeceGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013. 2013 data are preliminary.
Fiscal assumptions: Fiscal projections for 2014 and the medium term are consistent with the policies needed to achieve the fiscal targets underlying the program supported by the Extended Fund Facility as agreed under the Fifth Review of the program.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Noncash (accrual). Data from 2006 onwards in line with ESA-2010. Data prior to 2006 based on ESA-95.
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value. Net debt data, including historical data, are provisional. Gross debt decreases due to privatization receipts greater than the fiscal deficit.
Primary domestic currency: Euro
Data last updated: 03/2015311.221
IrelandGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2014
Fiscal assumptions: Fiscal projections are based on the 2015 budget. The fiscal projections are adjusted for differences between the IMF staff’s macroeconomic projections and those of the Irish authorities.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Data are provided with ESA 2010 and mapped to GFS
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;Other;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015213.376
ItalyGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Fiscal projections incorporate the government’s announced fiscal policy, as outlined in the draft 2015 Stability Law adjusted for different growth outlooks and estimated impact of measures. Sovereign yields have fallen significantly since the 2015 Stability Law was passed and staff have assumed that the savings from a lower interest bill will be used to pay down debt.  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.
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: Euro
Data last updated: 03/20152,205.282
LatviaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Start/end months of reporting year: January/December
GFS Manual used: NAS
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;Nonfinancial Public Corporation;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/20159.723
LuxembourgGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: These projections include assumptions based on the 2015 budget and the medium-term path presented in October 2014.
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: Euro
Data last updated: 03/201513.823
MaltaGeneral government gross debtNational currencyBillionsSource: NSO data via Eurostat
Latest actual data: 2013
Fiscal assumptions: Projections are based on the latest Stability Programme Update by the authorities and budget documents, adjusted for staff's macroeconomic and other assumptions.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/20155.750
NetherlandsGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2014
Fiscal assumptions: Fiscal projections for the period 2015–20 are based on the authorities’ Bureau for Economic Policy Analysis budget projections, after differences in macroeconomic assumptions are adjusted for. Historical data were revised following the June 2014 Central Bureau of Statistics release of revised macro data because of the adoption of the European System of National and Regional Accounts (ESA 2010) and the revisions of data sources.
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: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015444.850
PortugalGeneral government gross debtNational currencyBillionsSource: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: For 2014, the general government fiscal balance projection does not include one-off transactions arising from banking support and other operations related to government-owned enterprises, pending decisions on their statistical classification by the Instituto Nacional de Estatística (INE)/Eurostat. Projections for 2014–15 remain consistent with the authorities’ EU budgetary commitments, subject to additional measures to be approved in the forthcoming 2015 budget; projections thereafter are based on IMF staff estimates, under the assumption of unchanged 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;Other;
Valuation of public debt: Nominal value. Net debt is net of government deposits
Primary domestic currency: Euro
Data last updated: 03/2015227.076
Slovak RepublicGeneral government gross debtNational currencyBillionsSource: Eurostat
Latest actual data: 2013
Notes: fiscal data comply with ESA2010
Fiscal assumptions: Projections for 2014 take into account developments in the first three quarters of the year. Projections for 2015 are based on the authorities’ 2015 budget as approved by parliament. Projections for 2016 and beyond reflect no policy change scenario.
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: Euro
Data last updated: 03/201543.559
SloveniaGeneral government gross debtNational currencyBillionsSource: Ministry of Finance
Latest actual data: 2014
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/201531.950
SpainGeneral government gross debtNational currencyBillionsSource: Ministry of Finance. Eurostat
Latest actual data: 2014. Preliminary
Fiscal assumptions: For 2015 and beyond, fiscal projections are based on the measures specified in the Stability Programme Update 2014–17, the 2015 budget plan issued in October 2014, and the 2015 budget approved in December 2014.
Start/end months of reporting year: January/December
GFS Manual used: 2001. ESA10, consistent with Eurostat dataset
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/20151,112.333
Notes
  Country/Series-specific Notes  
  Austria: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Projections take only the tax-related measures for the financing of the recent income tax reform into account (although the yield from the anti-tax fraud measures is highly uncertain). For 2014, the creation of a defeasance structure for Hypo Alpe Adria is assumed to increase the general government debt-to-GDP ratio by 5½ percentage points, and the deficit effect arising from Hypo is assumed at 1.8 percentage points.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Belgium: General government gross debt (National currency)
Source: Central Bank
Latest actual data: 2013
Fiscal assumptions: Projections reflect the authorities’ 2015 budget adjusted for differences in the IMF staff’s macroeconomic framework and assumptions about fiscal developments in the federal, regional, and local governments.
Start/end months of reporting year: January/December
GFS Manual used: 2001. ESA 2010 data definitions
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;Other;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Cyprus: General government gross debt (National currency)
Source: EUROSTAT
Latest actual data: 2014
Fiscal assumptions: Projections are on a cash basis based on the latest information on the budget, fiscal measures, and staff's macroeconomic assumptions.
Start/end months of reporting year: January/December
GFS Manual used: Methodology is ESA 2010
Basis of recording: ESA 95 for history and ESA 95 classification but on a cash basis for projections in line with the program
General government includes: Central Government;Local Government;Social Security Funds;. Extra-Budgetary Funds are also part of the General Government composition.
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Estonia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: The forecast, which is cash-, not accrual-, based, incorporates the authorities’ 2014 budget, adjusted for newly available information and for the staff’s macroeconomic scenario.
Start/end months of reporting year: January/December
GFS Manual used: Hybrid of 1986 and 2001 manuals used
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value. This is the format of data provided by the authorities.
Primary domestic currency: Euro
Data last updated: 03/2015


Finland: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: Based on announced policies by the authorities, adjusted for the Staff macroeconomic scenario.
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: Nominal value. Nominal Value debt valuation is consistent with Eurostat's definition
Primary domestic currency: Euro
Data last updated: 03/2015


France: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Projections for 2015 reflect the budget law. For 2016–17, they are based on the multiyear budget adjusted for differences in assumptions on macro and financial variables, and revenue projections. Historical fiscal data reflect the September 2014 revision by the statistical institute of fiscal accounts and the May 2014 revision of national accounts.
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;Other;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Germany: General government gross debt (National currency)
Source: National Statistical Office. Data of general government gross debt comes from EUROSTAT
Latest actual data: 2014
Fiscal assumptions: The IMF staff’s projections for 2015 and beyond reflect the authorities’ adopted core federal government budget plan, adjusted for the differences in the IMF staff’s macroeconomic framework and 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;State Government;Local Government;Social Security Funds;. other refers to special funds
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Greece: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013. 2013 data are preliminary.
Fiscal assumptions: Fiscal projections for 2014 and the medium term are consistent with the policies needed to achieve the fiscal targets underlying the program supported by the Extended Fund Facility as agreed under the Fifth Review of the program.
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Noncash (accrual). Data from 2006 onwards in line with ESA-2010. Data prior to 2006 based on ESA-95.
General government includes: Central Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value. Net debt data, including historical data, are provisional. Gross debt decreases due to privatization receipts greater than the fiscal deficit.
Primary domestic currency: Euro
Data last updated: 03/2015


Ireland: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2014
Fiscal assumptions: Fiscal projections are based on the 2015 budget. The fiscal projections are adjusted for differences between the IMF staff’s macroeconomic projections and those of the Irish authorities.
Start/end months of reporting year: January/December
GFS Manual used: 2001. Data are provided with ESA 2010 and mapped to GFS
Basis of recording: Noncash (accrual)
General government includes: Central Government;Local Government;Social Security Funds;Other;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015


Italy: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: Fiscal projections incorporate the government’s announced fiscal policy, as outlined in the draft 2015 Stability Law adjusted for different growth outlooks and estimated impact of measures. Sovereign yields have fallen significantly since the 2015 Stability Law was passed and staff have assumed that the savings from a lower interest bill will be used to pay down debt. 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.
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: Euro
Data last updated: 03/2015


Latvia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Start/end months of reporting year: January/December
GFS Manual used: NAS
Basis of recording: Cash
General government includes: Central Government;Local Government;Social Security Funds;Nonfinancial Public Corporation;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015


Luxembourg: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2013
Fiscal assumptions: These projections include assumptions based on the 2015 budget and the medium-term path presented in October 2014.
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: Euro
Data last updated: 03/2015


Malta: General government gross debt (National currency)
Source: NSO data via Eurostat
Latest actual data: 2013
Fiscal assumptions: Projections are based on the latest Stability Programme Update by the authorities and budget documents, adjusted for staff's macroeconomic and other assumptions.
Start/end months of reporting year: January/December
GFS Manual used: 2001
Basis of recording: Noncash (accrual)
General government includes: Central Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015


Netherlands: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2014
Fiscal assumptions: Fiscal projections for the period 2015–20 are based on the authorities’ Bureau for Economic Policy Analysis budget projections, after differences in macroeconomic assumptions are adjusted for. Historical data were revised following the June 2014 Central Bureau of Statistics release of revised macro data because of the adoption of the European System of National and Regional Accounts (ESA 2010) and the revisions of data sources.
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: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015


Portugal: General government gross debt (National currency)
Source: National Statistical Office
Latest actual data: 2013
Fiscal assumptions: For 2014, the general government fiscal balance projection does not include one-off transactions arising from banking support and other operations related to government-owned enterprises, pending decisions on their statistical classification by the Instituto Nacional de Estatística (INE)/Eurostat. Projections for 2014–15 remain consistent with the authorities’ EU budgetary commitments, subject to additional measures to be approved in the forthcoming 2015 budget; projections thereafter are based on IMF staff estimates, under the assumption of unchanged 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;Other;
Valuation of public debt: Nominal value. Net debt is net of government deposits
Primary domestic currency: Euro
Data last updated: 03/2015


Slovak Republic: General government gross debt (National currency)
Source: Eurostat
Latest actual data: 2013
Notes: fiscal data comply with ESA2010
Fiscal assumptions: Projections for 2014 take into account developments in the first three quarters of the year. Projections for 2015 are based on the authorities’ 2015 budget as approved by parliament. Projections for 2016 and beyond reflect no policy change scenario.
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: Euro
Data last updated: 03/2015


Slovenia: General government gross debt (National currency)
Source: Ministry of Finance
Latest actual data: 2014
Start/end months of reporting year: January/December
GFS Manual used: 1986
Basis of recording: Cash
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Face value
Primary domestic currency: Euro
Data last updated: 03/2015


Spain: General government gross debt (National currency)
Source: Ministry of Finance. Eurostat
Latest actual data: 2014. Preliminary
Fiscal assumptions: For 2015 and beyond, fiscal projections are based on the measures specified in the Stability Programme Update 2014–17, the 2015 budget plan issued in October 2014, and the 2015 budget approved in December 2014.
Start/end months of reporting year: January/December
GFS Manual used: 2001. ESA10, consistent with Eurostat dataset
Basis of recording: Noncash (accrual)
General government includes: Central Government;State Government;Local Government;Social Security Funds;
Valuation of public debt: Nominal value
Primary domestic currency: Euro
Data last updated: 03/2015


 
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