Government Finance Statistics

Revision of Government Finance Statistics Manual 2001 (GFSM2001)

There is a worldwide trend toward greater accountability and transparency in Government finances and operations.

Since its last publication in 2001 - the system has developed a matrix that categorizes the differences into the identification of the boundary of the entity that is the focus of each framework; definition. Recognition, and measurement; and finally, presentation of the financial statements published under each framework. Its goal is to document in detail these differences and classify them according to the process envisaged for harmonisation.

Consequently, major efforts are being undertaken to introduce common standards in the compilation and presentation of Government economic activities, both in terms of statistical and public accounting standards. Overall consistency with other macro-economic statistics framework and manuals , such as the Balance of Payment Manual (BPM5) and the Systems of National Accounts 1993 (SNA93) is the main reason for updating the GFSM2001.

This page last revised: Tuesday, 7 September 2004