European GFS and IMF GFS
The second edition of the IMF manual on government finance statistics, the Government Finance Statistics Manual (GFSM 2001) follows the SNA 1993 closely. Although not as fully integrated to national accounts as the European GFS, the IMF GFS are now very close.
Both IMF GFS and European GFS share in common:
- Their sectorisation of institutional units
- Their valuation principles: market valuation of flows and stocks
- Their time of recording: accrual basis
- Their split between non-financial and financial accounts
- Their stock-flow articulation: transactions, revaluations and other changes in volumes
- Their emphasis on consolidated data
However differences are observable. A useful account of the main differences may be found in the document GFSM 2001 Framework and its Relationship with the European System of Accounts 1995. The GFS data themselves are available here.
Other institutions
- OECD
OECD publishes GFS data reported by its members and this is particularly useful for comparing European countries with other major economic powers (e.g. Japan) within a common framework.
OECD website on Public finance
OECD Central government debt statistical yearbook
- UN
The UN plays a strong role in harmonisation of methodology. The following two publications are of particular note for GFS.
SNA 1993
- ECB
The ECB publishes Euro-area GFS data in its Monthly Bulletin.
ECB Monthly Bulletin
- International Public Sector Accounting Standards Board
The Board is responsible for developing harmonised standards for the public sector.
IPSAS
