17.13 Enhance global macroeconomic stability, including through policy coordination and policy coherence
GDP per capita (current prices) – the ratio of GDP value at current prices to the number of inhabitants of a given area.
Indices of GDP (constant prices) – the ratio of GDP value in a surveyed year to the respective value in the previous year, including the correction of price.
Investment rate – percentage ratio of gross fixed capital formation to gross domestic production.
Indices of prices of consumer goods and services – a synthetic index presenting changes in prices – increase or decrease – in a year.
General government debt in relation to GDP – the ratio of consolidated general government debt in a given year to the nominal value of gross domestic product in the same year, expressed in percent.
General government result in relation to GDP – the ratio of consolidated deficit or surplus of the general government sector in a given year to the nominal value of gross domestic product in the same year, expressed in percent.
GDP per capita (current prices), indices of GDP (constant prices), indices of prices of consumer goods and services, investment rate, general government debt in relation to GDP, general government result in relation to GDP
Gross domestic product (GDP) illustrates the final result of the activity of all entities of the national economy (resident producer units – domestic) in a given year. The exact definition and methodology for calculating GDP is contained in the regulation of the Parliament and of the Council (EU) No 549/2013 of 21 May 2013 on the European system of national and regional accounts in the European Union (ESA 2010).
Current prices are prices actually used in purchase-sell transactions of goods and services in a given period.
Constant prices result from average current prices in a given year. They allow for a more accurate observation of a given phenomenon through the elimination of the influence of current prices changes.
Gross fixed capital formation is the expenditure which increases the value of tangible fixed assets (buildings and structures, machinery, technical equipment and tools, transport equipment and other fixed assets), excluding expenditure comprising the initial investments as well as interest on investment credits and loans for the period of investment realization. GFC also includes expenditure on:
a) intellectual property products, intended for use for a period longer than 1 year – in particular expenditure on research and development and on computer software (purchased or produced for own final use)
b) small tools that are used in the production longer than 1 year – regardless of their value
c) weapons systems (e.g., tanks, armored vehicles, warships, submarines).
Indices of prices of consumer goods and services are calculated on the basis of observations of prices of selected representative items of consumer goods and services in specific regions of the price survey in Poland. The survey is based on the purposive sampling of representative items. A centrally fixed list of representative items of goods and services remains unchanged and obligatory for all regions covered by the price survey throughout a year.
General government debt and result are calculated in compliance with the European Union methodology ESA 2010 (European System of National and Regional Accounts), implemented by the regulation of the European Parliament and of the Council (EU) No 549/2013 of 21 May 2013. ESA 2010 in scope of definitions, principles, entries and classifications is generally coherent with the international system of national accounts – 2008 SNA (System of National Accounts of United Nations). Differences between ESA and SNA (mostly in the way of account’s presentation) arise from the specificity of the national accounts system in the European Union, which requires greater precision in definitions and in accounting rules.
General government sector – according to the ESA2010 – includes the following entities of the national economy:
a) entities operating according to principles described in Law on Public finances (budgetary units, appropriated funds and since 2010 also local budgetary establishments, executive agencies and budget institutions as well as until 2005 special funds of budgetary entities, in 2005–2010 – own income account of budgetary entities and until 2010 – budgetary establishments and auxiliary units of budgetary entities including conducting economic activity ones as well as motivation funds),
b) entities for which the financial system was defined in special regulations, and for which the subsidies from the state budget are the main source of financing (public higher education institutions, the Polish Academy of Science and entities established by it, the National Road Fund and other funds managed by Bank Gospodarstwa Krajowego, agriculture advisory units and state agencies),
c) independent public self-government health care facilities,
d) state and local government institutions of culture and national film institutions,
e) funds with the legal personality which are connected with state or local government units budgets,
f) institutions managing the social security funds (SII, ASIF) and these funds as well as the National Health Fund (in the period 1 I 1999—31 III 2003 — health funds),
g) public hospitals in the form of limited liability companies and hospitals acting as research institutes (excluded from non-financial corporations sector),
h) Bank Guarantee Fund (excluded from financial corporations sector),
i) other units, including public corporations and non-commercial institutions that meet ESA 2010 classification criteria to general government sector.