Definition

The negative effect of the crisis on fiscal positions can be analysed by looking at changes in general government balances (i.e. changes in the difference between general government receipts and spending). Cumulative changes in government balances over the period 2009-2011 are expressed here relative to the GDP of 2008. The decomposition of the cumulative changes into cyclical effects (i.e. the effect of the recession in lowering government tax receipts and in raising government outlays) and structural effects (capturing discretionary fiscal policy measures as well as the disappearance of exceptional revenue buoyancy prior to the crisis) is based on the OECD's assessment of the various factors at work. Data on the composition of initial plans for (discretionary) fiscal packages in response to the crisis are based on information collected by the OECD up to early June 2009.

Changes in general government debt (measured by gross financial liabilities) reflect both annual government deficits and financial operations (e.g. rescue packages for financial institutions) that are not recorded as part of government expenditure.

The "general government" sector comprises the central government, local authorities and the social security system).

For more statistics on economic, environmental and social issues visit online the OECD Factbook 2010.