25 Public revenues and expenditures in the EU .....

Greece General government expenditure and receipts ( as a percentage of GDP )

Sweden General government expenditure and receipts ( as a percentage of GDP )

Past public expenditure and revenue trends are also considered in more detail .

A smaller decline in the deficit ratio had been expected earlier in the year , but the results turned out to be more favourable than anticipated owing to higher than

It is the difference between government receipts and government expenditure .

Public revenues and expenditures in the EU ( as a percentage of Union GDP ) Revenues 53 51 49 47 45 .

Third , they should redirect public expenditures towards physical and human capital accumulation .

Past public expenditure and revenue trends are also considered in more detail .

The budget foresees a reduction in the share of government expenditure in GDP , whereas government revenues are planned to increase in line with GDP .

In fact, most countries are cutting public expenditures with the IMF s support.

The table below shows ESA 95 categories constituting general government expenditure and revenue .

Chart 4 General government expenditure and revenue ( as a percentage of GDP ) total expenditure total revenue 50 48 46 44 42 40 50 48 46 44 42 40

Both measures were effective from 16 March 1998 .

C. Government non financial accounts13 Annual government revenue and expenditure Quarterly government revenue and expenditure Quarterly government accounts Breakdown as published in the euro area statistics of the ECB Monthly Bulletin Simplified breakdown compared to the annual data Breakdown for S13 in line with quarterly national accounts ( including capital accounts ) by sector ( see Section 1B ) t 90 ( revision after t 240 ) t 90 t 90

Real time gross settlement ( RTGS ) system a settlement system in which processing and settlement take place on an order by order basis ( without netting ) in real time ( continuously ) ( see also TARGET ) .

Furthermore , the relationship between the deficit ratio and government investment expenditure is reported for 1998 and 1999 .

Quarterly government finance data showing revenue and expenditure for the euro area are also published . CHART VII General government revenue , expenditure and deficit in the euro area ( as a percentage of GDP ) 55 50 45 3 40 2 35 30 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 6 5 4

The ECB also requires quarterly data on government expenditure and revenue within three months of the reporting period .

As in previous years , the ECB published annual data on government revenue and expenditure in the euro area .

Sweden General government expenditure and receipts ( as a percentage of GDP ) total expenditure 75 70 65 60 55 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 current revenue 75 70 65 60 55

Article 2 Content of the quarterly non financial accounts for general government The content of the quarterly non financial accounts for general government is defined in the Annex by reference to a list of ESA 95 categories constituting general government expenditure and revenue .

Travel costs Costs of stay Staff Travel costs and Costs of stay

Grants for staff travel are intended to cover travel, accommodation, subsistence and personal insurance costs.

Past government expenditure and revenue trends are also considered in more detail and the broad areas for consolidation are outlined .

These changes brought with them a noteworthy addition a Law of Fiscal Responsibility which controls public expenditure by the Executive Branches at federal, state and municipal levels.

I .

Prepaid expenditure and accrued interest paid ( 3 )

Given that interest payments have already come down substantially in recent years and further declines at a similar pace are not expected , controlling public expenditure would seem to require greater emphasis to be placed on the control of other expenditure items .

It is also worrisome that the recent rise in deficits was accompanied by a significant expansion in both public spending and public revenue .

Chart 4 General government expenditure and revenue ( as a percentage of GDP ) total expenditure total revenue 55 50 45 40 35 30 55 50 45 40 35 30

Overheads maximum of 2,5 (fixed rate cost) or 5 (actual costs) of the total annual grant

The expenditure of

Eligible costs

Eligible Expenses

Eligible expenses

Actual costs.

Non cyclical factors influences on a government budget balance that are not due to cyclical fluctuations ( see the cyclical component of the budget balance ) .

Staff costs are divided into two main categories, administrative staff costs and academic staff costs.

Overheads include postage, telephone and fax costs.

F. Other costs

5.7.4 Eligible expenditure

Costs

Travel Costs

Ineligible expenses