Currency and deposits (AF.2) – currency, transferable deposits and other deposits.

Debt securities (AF.3) – negotiable financial instruments serving as evidence of debt.

General government (S.13) – institutional units, which, in addition to fulfilling their political responsibilities and their role of economic regulation, produce principally non-market goods or services. In Estonia, the General Government sector comprises the following sub-sectors: Central Government (State budget units and extra-budgetary funds, foundations, public-legal institutions), Local Governments (city and local municipality administrations with their subsidiary units, foundations) and Social Security Funds (Health Insurance Fund, Unemployment Insurance Fund).

General Government consolidated debt – or „Maastricht debt”, means total gross debt at nominal value outstanding at the end of the period and consolidated between and within the sectors of general government. General government debt is equal to the sum of liabilities of the general government sector in the following categories: currency and deposits (AF.2); debt securities (AF.3) and loans (AF.4).

Loans (AF.4) – loans between institutional units. They are divided into short-term (F.41 and AF.41) and long-term (F.42 and AF.42) loans. Also leasing and repurchase agreements are regarded as loans.


General Government Consolidated Debt data are compiled by Statistics Estonia in accordance with the European System of Accounts (ESA 2010). The methodological advice of the Manual of Government Deficit and Debt is also followed. Government finance statistics are based on the detailed data about the budget execution of central and local governments and other general government units’ detailed financial statements. In addition, the reports on General Government claims and liabilities to monetary financial institutions and financial subsidiaries are used. The International Investment Position is used to evaluate General Government liabilities to Rest of the World sector (S.2).

There is an exception from ESA 2010 methodology with relation to general government debt. The valuation of debt differs from ESA 2010 valuation of financial liabilities. While ESA 2010 values financial assets and liabilities in market value (wherever possible), the general government debt is valued at nominal value.


Used classifications:


Pauline Kommer

Economic and Environmental Statistics Department

Tel +372 625 9193

Updated: 10.01.2020