Fiscal data

In accordance with the requirements of Council Directive 2011/85/EU[1] of 8 November 2011 (Chapter II Article 3.2) on budgetary frameworks of the Member States that requires Member states to publish relevant fiscal data and reconciliation table.

“2. Member States shall ensure timely and regular public availability of fiscal data for all sub-sectors of general government as defined by Regulation (EC) No 2223/96. In particular Member States shall publish:

(a) cash-based fiscal data (or the equivalent figure from public accounting if cash-based data are not available) at the following frequencies:

• monthly for central government, state government and social security sub-sectors, before the end of the following month, and
• quarterly, for the local government sub-sector, before the end of the following quarter;

(b) a detailed reconciliation table showing the methodology of transition between cash-based data (or the equivalent figures from public accounting if cash-based data are not available and data) based on the ESA standard.

Data on contingent liabilities and potential obligations is published in accordance with Council Directive 2011/85/EU1 of 8 November 2011 Chapter VI Article 14.3:

“3. For all sub-sectors of general government, Member States shall publish relevant information on contingent liabilities with potentially large impacts on public budgets, including government guarantees, non-performing loans, and liabilities stemming from the operation of public corporations, including the extent thereof. Member States shall also publish information on the participation of general government in the capital of private and public corporations in respect of economically significant amounts.”

The dates for publishing contingent liabilities are as follows:

• Guarantees of general government sector for the period t-1 are published by October 31 in the period t, creating the time series from 2010;

• Liabilities of public corporations for the period t-1 are published by 31 December in the year t, creating a time series from 2012;

• Off-balance public-private partnerships for the period t-1 are published by October 31 in the year t, creating the time series from 2010;

• Non-performing loans of general government sector for the period t-1 are published by October 31 in the year t, creating a time series from 2010;

• Participation of general government sector in the capital of corporations of economically significant value for the period t-1 are published by 31 December of the year t, forming a time series from 2013.

Internal regulation of the Ministry of Finance “Procedures by which the Ministry of Finance is provided with preparation of the draft law on Medium-Term Budgetary Framework and the Stability Program”; attachment 1 ; attachment 2.

In case of any questions, please contact: fiskalie.dati@fm.gov.lv

[1] http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2011.306.01.0041.01.ENG