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JUNE QUARTER 2009 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 2009 from the national accounts publication. The key figures shown include Government Final Consumption Expenditure and Gross Fixed Capital Formation for general government and public corporations, seasonally adjusted for current prices and in chain volume terms.
In the June quarter 2009:
QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES, SEASONALLY ADJUSTED
(b) Reference year for chain volume measures is 2006-07.
JUNE QUARTER 2009 GFS RELEASE
This release presents quarterly government finance statistics (GFS) 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 (2007-08) was released on 14 April 2009. Final annual GFS results for 2008-09 are scheduled for release by the ABS in April 2010.
RELEASE OF QUARTERLY GFS THIS ISSUE
The Australian system of Government Finance Statistics (GFS) is based on international standards set out in the System of National Accounts 1993 (SNA93) and the International Monetary Fund's Government Finance Statistics Manual 2001 (GFSM2001). The System of National Accounts has recently been updated and the System of National Accounts 2008 (SNA08) was endorsed by the United Nations Statistical Commission in February 2009. SNA08 will be implemented in Australia's System of National Accounts from the September Quarter 2009. The only change to the ABS' compilation of GFS will be the treatment of Defence Weapons Platforms (DWP), which will be capitalised to align with the SNA08 from September Quarter 2009. This change will affect the Commonwealth General Government Operating Statement, Cash Flow Statement and Balance Sheet.
DWPs are the structural systems from which destructive weapons such as missiles, bombs and torpedoes are launched or fired. They include submarines, warships, fighter planes and tanks.The current SNA93 treatment classifies expenditures on DWPs as Government Final Consumption Expenditure (GFCE). This means that purchases of military equipment such as fighter planes and submarines were not seen as providing any ongoing services beyond the period in which they were purchased. The SNA08 has expanded the asset boundary used in national income accounting to include DWPs as capital expenditure. This brings the treatment of defence expenditure into line with capital formation in other industries. All expenditure on military weapon systems that have an anticipated ongoing use (longer than a year) will be recorded as gross fixed capital formation. Expenditure on 'disposable' military equipment such as bullets will continue to be recorded as inventories.
The GFSM2001 is expected to be revised in the future to reflect the SNA08, the timing of which is unknown at this stage.
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 September and December quarter 2009 issues are below. For the September quarter 2009 publication, the Quarterly National Accounts Public Sector Measures - Key Figures table will not be included in the regular release due to delays in producing the National Accounts for this quarter. It is expected that the main features will be re-released with the National Accounts table for the September quarter on the 15th of December 2009.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email <email@example.com> or Mark Patton on Canberra (02) 6252 7926, email <firstname.lastname@example.org>
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