Australian Bureau of Statistics
5519.0.55.001 - Government Finance Statistics, Australia, June Quarter 2014 Quality Declaration
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2014
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JUNE QUARTER 2014 KEY FIGURES: ALL LEVELS OF GOVERNMENT
GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL
QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES
The table below includes the key public sector aggregates for the June quarter 2014 which will be included in the Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The key figures shown include Government Final Consumption Expenditure for general government and Gross Fixed Capital Formation for general government and public corporations, seasonally adjusted in current prices and chain volume terms.
In the June quarter 2014:
QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES – KEY FIGURES, SEASONALLY ADJUSTED
(a) See paragraph 37 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2011–12.
JUNE QUARTER 2014 GFS RELEASE
This release presents quarterly government finance statistics on an accrual accounting basis. All tables are presented in GFS operating statement format and are for the general government sector, with the exception of Table 2 which presents data for the public non–financial corporations sector.
Quarterly GFS are released for the current financial year only, other than in the September quarter, when the quarters of the previous financial year are presented. Users requiring data for earlier periods should consult Government Finance Statistics, Australia (cat. no. 5512.0). The latest issue (2012–13) was released on 28 May 2014. Final annual GFS results for 2013–14 are scheduled for release by the ABS in April 2015.
RELEASE OF QUARTERLY GFS THIS ISSUE
PAYMENT TO THE RESERVE BANK OF AUSTRALIA
Government Finance Statistics are part of the broader suite of macroeconomic accounts produced by the ABS. They share their basic concepts with the National Accounts and Balance of Payments. The conceptual framework is agreed internationally and published by the International Monetary Fund. Macroeconomic statistics are compiled to enable macroeconomic analysis and the standards differ from accounting standards.
On 23 October 2013 the Treasurer announced that the Commonwealth Government would make a one-off $8.8 billion payment to the Reserve Bank of Australia (RBA). The intended purpose of the transaction is to ensure that the RBA has adequate funds to conduct monetary policy and foreign exchange operations. This payment was made in the June quarter 2014. In macroeconomic statistics, this payment is recorded as a financing transaction and is not included in the operating statement.
The release of GFS quarterly data is usually coordinated to be the day before the respective issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The scheduled release dates for the next two issues are:
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This page last updated 2 September 2014