Indicator 17.40 General government gross debt

The indicator is defined in the 2012 consolidated version of the Treaty on the Functioning of the European Union and furter elaborated in Council Regulation (EC) No 479/2009, as amended and Regulation (EU) No 549/2013 of the European Parliament and of the Council (ESA 2010) and subsequent legal amendments, supplemented by further interpretation and guidance from Eurostat, in particular the Manual on Government Deficit and Debt as the ratio of total government gross debt at nominal value outstanding at the end of the year to GDP at current market prices. The government debt is defined as the total consolidated gross debt at nominal value at the end of the year in the following categories of government liabilities (as defined in ESA 2010): currency and deposits (AF.2), debt securities (AF.3) and loans (AF.4). The general government sector comprises the subsectors of central government, state government, local government and social security funds.

Central Bank of Bosnia and Herzegovina provided data to Agency for Statistics of BiH. General government gross debt statistics are compiled by the Maastricht criteria and in accordance with ESA 2010. The source data are the External debt statistics of the CBBH, Monetary and financial statistics of the CBBH and Debt data base of Statistics and Publications Department of the Central Bank of Bosnia and Herzegovina (CBBH) – GFS and financial accounts unit. General government gross debt cover debt of BiH General Government. The gross debt of the BH general government consists of external debt and domestic debt. External debt consists of the agreed loans of BH (country) and the agreed direct loans by entities. Domestic debt consists of domestic debt securities and loans.

To help others to advance their economies, it is pivotal to keep the EU’s own economies on a sustainable development path. Macroeconomic management that aims to ensure financial stability in the EU is therefore one pillar of the EU’s contribution to implementing the SDGs. Government debt should consequently be limited to a manageable level and not exceed 60 % of GDP, as laid down in the Treaty on the Functioning of the European Union. This forms the basis of the Stability and Growth Pact and the Excessive Deficit Procedure (EDP), which ensures fiscal sustainability. In 2024, the ambitious reform of the EU’s economic governance framework, aimed at strengthening Member States’ debt sustainability and promoting sustainable and inclusive growth in all Member States, entered into force.

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