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Kingdom of Belgium

Belgian Debt Agency

 

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The general government debt, as defined in the Treaty of Maastricht, is the total gross debt at nominal value outstanding of the general government sector, measured on a consolidated basis, i.e. excluding debt owed to a creditor that is also belonging to the general government sector.

The categories of the ESA (European System of Accounts) 1995 taken into account in determining the general government debt are the following : currency and deposits, securities other than shares and excluding financial derivatives, and loans.
 

The general government sector is defined with reference to the ESA 1995 and consists of all the institutional units, controlled by the government, that are non-market producers. The general government sector is divided into the following sub-sectors :

  • The sub-sector central government includes all administrative departments of the State as well as other central agencies whose competence extends normally over the whole economic territory, except for the administration ot social security funds. This sub-sector includes amongst others the non-profit institutions which are controlled and mainly financed by central government and whose competence extends over the whole economic territory.
     

  • The sub-sector State government consists of State governments which are separate institutional units exercising some of the functions of government at a level below that of central government and above that of the governmental institutional units existing at local level, except for the administration of social security funds. The institutional units belonging to or controlled by the three Regions and Communities are classified in this sub-sector.
     

  • The sub-sector Local government includes those types of public administration whose competence extends to only a local part of the economic territory, apart from local agencies of social security funds. Institutional units belonging to or controlled by the provinces and the local communities.
     

  • The sub-sector social security funds includes all central, state and local institutional units whose principal activity is to provide social benefits, and for which certain groups of the population are obliged to participate in the scheme or to pay contributions.

 

Last Update : 16-10-2009
For more information, please contact :
phone number +32 (0)257 47396, phone number +32 (0)257 47419, phone number +32 (0)257 47174

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