Skip to main content

EXCESSIVE DEFICIT PROCEDURE REPORT

Slovenia reports twice a year on government budget deficit and debt to Eurostat (the statistical office of the European Union) on the basis of Council Regulation (EC) No. 479/2009 as amended by Commission Regulation (EU) No. 220/2014. The report includes a set of reporting tables with the data on government deficit and debt, prepared in accordance with already mentioned Regulations and a statement in the Council minutes from the 11.22.1993. The report aims at verifying compliance with the so-called Maastricht criteria, related to the government budget deficit and debt. Deadline for the first report submission is until 1 April and for the second report until 1 October of the current year.

 

Statistical Office of the Republic of Slovenia (hereinafter SORS), the Ministry of Finance and the Bank of Slovenia are participating in preparation of report for Slovenia. SORS is responsible for the methodology and preparation of the historical data. The Ministry of Finance is in charge of preparation of all the available information on government finance statistics and the ministry also cooperates with SORS in the translation of the data from government financial statistics into categories of the European System of Accounts (ESA 2010[2]). In addition, the Ministry of Finance prepares forecasts for the current year. The Bank of Slovenia is responsible for the preparation of financial accounts and in cooperation with the SORS provides information on national financial accounts for the entire period.

 

SORS is responsible for sending and publishing reports on government budget deficit and debt on the basis of the Agreement on cooperation in the field of macroeconomic and financial statistics (concluded between SORS, Bank of Slovenia and the Ministry of Finance). SORS regularly publishes on its website two publications. After first release of "Main Aggregates of the General Government" (before 1 April and before 1 October) the two week period of notification of the data by Eurostat follows up, which confirms the data transmitted or requires the audit of the data. In accordance with the requirements of the Eurostat, SORS publishes the final data in the publication of "Excessive deficit procedure report." Link to the most recent report is available on the official website of SORS: 

http://www.stat.si/StatWeb/en/News/Index/6630.

 

 

  

 

­­­­­­­­­­­­_________________________________________________________________

2 Information on government deficit and debt are from September 1 2014 onwards prepared on the basis of the revised European System of Accounts, set up by Regulation (EU) No. 549/2013 of the European Parliament and of the Council from 21 May 2013 on the European system of national and regional accounts in the European Union (ESA 2010). The methodology of the ESA 2010, which is used for the preparation of national accounts of all sectors in the economy and also for the preparation of budgetary accounts of the general government sector, is based on the disclosure categories on an accrual basis. Institutional classification of units in the general government sector shall be made on the entry in the commercial register, but the SORS has the possibility to reclassified the units in cases, where it finds that a classification of the business entity in the institutional sector according to the Standard Classification of Institutional Sectors (SCIS) was incorrect. The methodology used categories of national accounts, which are not directly comparable with the economic classification of public finance flows. In preparation of report on government deficit and debt are used translation tables that translate individual types of revenues and expenditures by economic classification in categories of national accounts.