Part I. Delimitation of the general government sector


I.1. Criteria for the classification of units inside the general government sector

I.2. Specific units


Part II. Relations between the government and public enterprises


II.1. Overview of principles

General principles

Application to ESA95 transactions

II.2. Sale of assets (privatisation)

Direct and indirect sales of financial and non-financial assets

Case of a public holding company keeping the privatisation proceeds

Privatisation in transition countries

II.3. Capital injections

Capital injections in public corporations

Capital injections in kind

II.4. Government and public enterprise debt

Debt assumption and debt cancellation

Debt rescheduling

Public enterprises debt guaranteed by the government

II.5. Government and the financial sector

Gold and foreign exchange in the central bank


Financial defeasance.


Part III. Implementation of the accrual principle


III.1. Recording of taxes and social contributions

III.2. Changes in the due for payment dates for taxes, subsidies, compensation of employees, social contributions and benefits

III.3. Recording of interest

III.4. Cases of court decisions with retroactive effect


Part IV. Leases, licences and concessions


IV.1. Overview.

IV.2. Allocation of mobile phone licences

IV.3. Sale and leaseback

IV.4. Public infrastructure financed and exploited by the corporation sector


Part V. Addendum on government debt


V.1. The calculation of general government debt

V.2. Debt in foreign currency (currency swaps on debt instruments)

V.3. Repurchase agreements




Revised Council Regulation 3605/93 on Excessive Deficit Procedure

EDP Questionnaire