This information paper provides an overview of forthcoming changes to the 2017-18 release of the annual Government Finance Statistics (GFS) publication resulting from the implementation of the new Australian System of Government Finance Statistics 2015 framework (AGFS15). This information paper follows a similar paper released prior to the adoption of AGFS15 in GFS quarterly statistics.
Australia's system for producing GFS has been updated as a result of revised international standards for compiling national accounts (2008 System of National Accounts) and the consequent revision of the International Monetary Fund's GFS Manual 2014 (IMF GFSM 2014). An updated ABS GFS Manual was released in late 2015 to reflect the AGFS15 changes and can be found in Australian System of Government Finance Statistics: Concepts, Sources and Methods, 2015 (cat. no. 5514.0).
AGFS15 became effective for all GFS data reported from 1 July 2017 onwards, beginning with the September quarter 2017 publication that was released on 5 December 2017.
The introduction of AGFS15 requires data providers to comply with a new reporting framework which will result in changes to some data series. The ABS has been working with data providers to limit the effect on key GFS data items that flow into public sector measures of the Australian National Accounts.