External statistics revision

Published: 30/12/2022

The release of external statistics report (balance of payments, international investment position and outstanding external debt) for the third quarter of 2022, i.e. September 2022, was accompanied by a revision of data series starting from January 2006 due to the change of the principle of recording liabilities/claims arising from the mismatch between inflows of EU funds and their distribution to the final users. The net principle was used for the recording of those liabilities/claims until the release of data for the third quarter of 2022. The net principle comprised the recording of the net difference of liabilities/claims arising from all funds jointly. Starting from this quarter, the gross principle is applied, which comprises the summing and recording of net liabilities/claims for each fund. The above change of the recording principle was implemented in accordance with the recommendation of the European Central Bank.

The effects of this change are evident on the position of other short-term liabilities/claims of the central government sector in the balance of payment reports, the international investment position and the gross external debt reports. There is no effect on net external debt, net international investment position and net balance of payment financial account. 

The effects are shown in the table:

Also, in September 2022, external debt position recorded a sharp one-off decrease in the segment of direct investment due to an unusually large write-off of external debt of the non-financial corporations sector in the amount of EUR 841.96m.