The articles in these series use tables and graphs to discuss the actual and projected fiscal performance from 2013 to 2020.

Earlier series dealt with the unusual treatment of exceptional amounts “below-the-line” and side-stepping vital fiscal rules such as ignoring holiday rules and reversing January 2017 interest accrued to end-2016, adding arrears to amortization, and using end-March 2017, not end-December 2016, the exchange rate to measure 2016 debt stock.

This final one (Part VI) discusses borrowing to “Finance” the deficit or fiscal balance in annual Budgets. It argues that it is inaccurate to show exceptional items as footnotes since it lowers lower financing and treats part of the debt as a footnote (not ledger entries) in the Public Accounts.

Read the full article below.