General government deficit

General government

General government consists of central, state and local governments and the social security funds controlled by these units. General government accounts presents data on fiscal balance, debt, revenues, expenditure, costs and reserves of governments. Central government consists of the institutional units making up the central government plus those non-profit institutions that are controlled and mainly financed by central government. The political authority of central government extends over the entire economy. Central government can impose taxes on all residents and non-resident units engaged in economic activities within the country.

English Also available in: French

Related Content:
- Government at a Glance

Keywords: government

https://doi.org/10.1787/cc9669ed-en

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General government deficit

General government deficit is defined as the balance of income and expenditure of government, including capital income and capital expenditures. "Net lending" means that government has a surplus, and is providing financial resources to other sectors, while "net borrowing" means that government has a deficit, and requires financial resources from other sectors. This indicator is measured as a percentage of GDP. All OECD countries compile their data according to the 2008 System of National Accounts (SNA 2008).

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English Also available in: French

Related Content:
- Peter van de Ven (2015), "New standards for compiling national accounts: what’s the impact on GDP and other macro-economic indicators?", OECD Statistics Brief No. 20

Keywords: general government net lending

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