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Public administrations
The "public administrations" sector is defined from an economic point of view by reference to the European System of Accounts (ESA 2010), and therefore includes public sector institutional units which are non-market producers. The public administrations are divided into subsectors:
The subsector of the central administration includes all the administrative bodies of the State and other central bodies which depend on the federal government, and whose authority usually extends throughout the entire domestic territory, with the exception of central administrations for Social Security.
The subsector of the administrations of the federated States includes all the administrations which depend on the Communities and Regions, and whose authority extends to their domestic territory, with the exception of the federated administrations for Social Security.
The subsector of the local administrations includes all the public administrations which depend on the provinces and municipalities, and whose authority only extends to their domestic territory, with the exception of the local administrations for Social Security. The provinces and municipalities are part of this subsector.
The Social Security administrations include all the central, federated and local institutional units whose main activity is providing social security benefits, and whose main resources come from mandatory social security contributions.
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Public Debt Agency
A department which handles the operational and strategic management of public debt.
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Public debt
Public debt, within the meaning of the Maastricht Treaty, is the face value of all outstanding gross liabilities at the end of the period (year, quarter) in the "general government sector", with the exception of liabilities whose corresponding financial assets are held by the general government sector.
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Primary markets
Markets where new loans are issued via various issuance techniques chosen by the issuer.
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PIO
See "Public Interest Organisation"
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Public Interest Organisation
Public law organisation which is independent of administrations and created by a law, decree or ordinance to ensure the management of a public service. They are classified in four categories (A, B, C or D) depending on their degree of autonomy.
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PD
See "Primary Dealers"
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Primary Dealers
Financial intermediaries linked to the Treasury via a code of duties, with the aim of enhancing the primary market for linear bonds and Treasury certificates, encouraging the stripping of linear bonds, ensuring the liquidity of these securities on the secondary market and promoting Belgian public debt.
