Council Directive 85/2011

The Enhanced Economic Governance package (the so-called "six pack" composed of five Regulations and one Directive) was adopted by the European Parliament and Council in November 2011. Among other statistical implications, this package included legal requirements with implications on the collection and dissemination of fiscal data and statistics. In particular, the Council Directive 2011/85/EU of 8 November 2011 on requirements for budgetary frameworks of the Member States is relevant.

This Directive lays down detailed rules concerning the characteristics of the budgetary frameworks of the Member States. Rules that are necessary to ensure Member States’ compliance with obligations under the Treaty of Functioning of the European Union with regard to avoiding excessive government deficits. The Directive lays down rules applicable to specific elements of the budgetary frameworks, in particular:
systems of budgetary accounting and statistical reporting;
·rules and procedures governing the preparation of forecasts for budgetary planning;
·country-specific numerical fiscal rules, such as the debt or deficit limits;
·medium-term budgetary frameworks;

The Council Directive 85/2011 requirements in the area of the government finance statistics include:

Methodological Reconciliation Table
The reconciliation table is a requirement of Article 3 (2) of Council Directive 2011/85 of 8 November 2011 on requirements for budgetary frameworks by Member States.The flow chart illustrates the contents of the reconciliation table. With the aid of the reconciliation table, transparency, accountability and comparability can be better achieved. This also helps users to grasp the conceptual differences and the transition between monthly data used for national policy purposes and ESA-quarterly data used for the production of national accounts and EU fiscal surveillance.

The process consists of three data sets;
- Government Finance Monthly News Release (A)
- Monthly and quarterly Fiscal data as required by Council Directive 2011/85 (B)
- ESA 2010 based General Government Sector Accounts (C)

The Reconciliation Table explains how the transition between the raw data and final ESA-compliant quarterly data takes place in concrete terms.

 

Other Documents:​ ​
ESA 2010 Glossary​
EDP Consolidated Inventory