Budgetary Framework

The European Council Directive 2011/85 of 8 November 2011, which is one of the Enhanced Economic Governance package (the so-called ‘six-pack’), requires reporting as follows:

  • Cash based fiscal data:
  • Monthly for central government and social security sub-sectors
  • Quarterly for the local government sub-sector

 

The Directive also requires annual publication of tables containing contingent liabilities with potentially large impacts on public budgets including;

 

(a) Government guarantees

(b) Non-performing loans

(c) Off-balance sheet public-private partnerships

(d) Liabilities of public corporations (annual publication commencing end-December 2014)

(e) Participation of government in the capital of corporations in respect of economically significant amounts (annual publication commencing end December 2014)

 

In Ireland much of this data will be collected by the Central Statistics Office (CSO), as it already does so under EU regulations, and supplied to the Department of Finance.

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