The Different Fiscal Balances
Fiscal balance refers to the deficit or surplus in the National Accounts. It provides the net increase/reduction in the public debt (without financial operations). Based on the fiscal balance, it is possible to calculate the primary and the current balance. The difference between revenue and expenditure, which is equivalent to the surplus/deficit, is net lending/net borrowing (B.9).
- ESA 2010 European System of Accounts 2010. https://ec.europa.eu/eurostat/cache/metadata/Annexes/nasa_10_f_esms_an1.pdf