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Article: EXCESSIVE DEFICITS : NEW RULES ON ACCOUNTING FOR MILITARY EQUIPMENT EXPENDITURE.(European Union. European Commission. Statistical Office)(Brief Article)
- Article from:
- European Report
- Article date:
- March 10, 2006
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In order to avoid muddle and even the window-dressing of national accounts regarding the recording of military equipment expenditure, Eurostat published an eagerly awaited decision on 9 March, the ripples from which are certain to reach those member states running excessive deficits (not least Greece). Having observed cases of complex contracts for military equipment that led to uncertainties, Eurostat has decided that military equipment expenditure under long-term contracts must be recorded in national accounts.
Leasing of military equipment: Eurostat has decided that leases of military equipment should be considered as financial leases, and not as operating ...