Central-government finance and debt

Sources and method

Central-government finance and debt
 
0 Administrative Information about the Statistical Product
1 Contents
2 Time
3 Accuracy
4 Comparability
5 Accessibility
6 Supplementary Documentation

 

0 Administrative Information about the Statistical Product

0.1 Name

Central-government finance and debt.

0.2 Subject Area
Central-government finance and debt
Public finance.

0.3 Responsible Authority, Office, Person, etc.
Danmarks Nationalbank, Statistics, Publishing
Anders Tofthøj Andersen, tel. +45 33 63 61 57, e-mail: anta@nationalbanken.dk
Heidi R. Schröder, tel. +45 33 63 68 68, e-mail: hrs@nationalbanken.dk

0.4 Purpose and History

The purpose of the statistics is to inform about the development in the central-government's financing requirement and the financing thereof, as well as the development in both gross and net debt.

0.5 Users and Application

Banks, professional and industrial bodies, ministries.

0.6 Sources

Government receipts and expenditure are based on Danmarks Nationalbank's monthly distribution of government payments. The monthly distribution is based on the Ministry of Finance's estimate of central government finances, which is published in the Finance Act and the Budget Reviews. The Finance Act and Budget Reviews are the starting point for allocating major items to different months according to payment patterns in previous years, as well as details of changes in due dates for payments, e.g. as a consequence of new legislation. Government receipts and expenditure that are not included in the monthly distribution are compiled as net figures under expenditure, so that the monthly net financing requirement matches the actual figure.

The national debt statistics are based on information from Danmarks Nationalbank, Banking and Markets.

0.7 Legal Authority to Collect Data

The collection takes place as a part of the ordinary tasks of Danmarks Nationalbank.

0.8 Response Burden

None - the collection takes place as a part of the ordinary activities of Danmarks Nationalbank.

0.9 EU Regulation

None.

 

1 Contents

1.1 Description of Contents

The central government financing requirement is calculated on the basis of the movement in the central government's account with Danmarks Nationalbank, in accordance with Danmarks Nationalbank's balance sheet, as well as details of the central government's borrowing from Danmarks Nationalbank, Banking and Markets. Net bond purchases by the Social Pension Fund, the High-Technology Foundation, the Financing Fund for increased distributions from the Danish National Research Foundation and the Preventive Measures Fund are included in redemptions on domestic debt.

The compilation includes changes in the debt profile caused by interest-rate swaps as well as currency swaps.

1.2 Statistical Concepts

Gross domestic debt is compiled as the nominal value of the circulating volume of government bonds, Treasury notes, Treasury bills and premium bonds.

Net debt: The difference between the gross and net debt comprises the central government's holdings of own bonds, the bond portfolios of the Social Pension Fund, the High-Technology Foundation, the Financing Fund for increased distributions from the Danish National Research Foundation and the Preventive Measures Fund as well as the central government's account with Danmarks Nationalbank.

The central government's gross foreign debt is likewise compiled at nominal value. Loans denominated in foreign currencies are converted to Danish kroner on the basis of the exchange rates at the close of the previous year, while the conversion for December and the identical annual statistics is made on the basis of the exchange rates at the close of the year of compilation.

The central government's account with Danmarks Nationalbank: Compiled in accordance with Danmarks Nationalbank's balance and accounts. The data deviates from

Danmarks Nationalbank, Danish Government Borrowing and Debt.

where the balance of the central government's account with Danmarks Nationalbank is compiled in accordance with the central government's accounts. The difference can e.g. be attributed to the differing accrual principles applied in the two accounts.

 

2 Time

2.1 Reference Period

The statistics are compiled on a monthly basis.

2.2 Date of Publication

The statistics are published on the 16th banking day after the end of the reference period.

2.3 Punctuality

The statistics are usually published without delay in relation to the scheduled date.

2.4 Frequency

New figures are published every month.

 

3 Accuracy

3.1 Overall Accuracy

The statistics are based on Danmarks Nationalbank's actual compilation of liquidity and the statements by Danmarks Nationalbank, Banking and Markets. The reliability is considered to be good.

3.2 Sources of Inaccuracy

Estimates in connection with the Ministry of Finance's Finance Act and Budget Reviews may principally give rise to uncertainty.

3.3 Measures on Accuracy

No calculations of statistical uncertainty are carried out.

 

4 Comparability

4.1 Comparability over Time

There are no previous statistics.

4.2 Comparability with other Statistics

The statistics cannot be compared with other statistics. The item "Central-government account with Danmarks Nationalbank" can be compared with Danmarks Nationalbank's statistics Specification of Danmarks Nationalbank's balance sheet.

The compilation of the central government's net financing requirement cannot be compared immediately with the central government's net cash balance in accordance with the central government accounts, due to deviating compilation methods and definitions. Also, the compilation of the debt of the government-guaranteed entities cannot be compared immediately with a similar compilation in the central government's annual accounts, due to deviating compilation methods.

4.3 Coherence between Provisional and Final Statistics

Only final figures are published.

 

5 Accessibility

5.1 Forms of Dissemination

Published monthly via:

www.nationalbanken.dk
http://nationalbanken.statbank.dk
www.statbank.dk

5.2 Basic Material: Storage and Usability
The data is stored in Danmarks Nationalbank, Statistics' database.

5.3 Documentation

None.

5.4 Other Information
No further information is available.

 

6 Supplementary Documentation
None.
 
Last revised: 15/09/2017