The overall authorities monetary accounts cowl transactions in monetary belongings and liabilities in addition to the inventory of economic belongings and liabilities. The distinction between the inventory of economic belongings and the inventory of liabilities known as web monetary value.
On the finish of the third quarter of 2022, the EU web monetary value stood at -€7 684 billion or -49.6% of gross home product (GDP). In contrast with the top of the second quarter of 2022, the EU web monetary value improved by €282 billion. In contrast with the top of the third quarter of 2021, the EU web monetary value improved by €1 318 billion.
This info comes from knowledge on quarterly authorities finance printed by Eurostat immediately. This text presents a handful of findings from the extra detailed Statistics Defined article.
Supply dataset: gov_10q_ggfa
The web monetary value can change both as a result of transactions or as a result of different financial flows (primarily value adjustments, also called holding features or losses). The principle monetary instrument liabilities on the overall authorities’s stability sheet are debt securities. As these are traded on the monetary markets, the worth of those devices adjustments over time and could be risky.
In current quarters, the prevailing inventory of debt securities has decreased in market worth on the EU stage, notably as a result of will increase in rates of interest. A significant a part of monetary belongings on the stability sheet of EU governments are fairness and funding fund shares or items, primarily comprising shares held in public firms. These embody the shares held within the Nationwide Central Financial institution, the worth of which is influenced by the revaluation of the financial reserves. At EU stage, the rise within the worth of fairness and funding fund shares or items and the decreased worth of debt securities contributed to an enchancment in web monetary value in current quarters. On the similar time, the continued EU common authorities deficit (measured as transactions in monetary belongings minus the transactions in liabilities) contributed negatively to the web monetary value.