Non-financial corporations excluding foreign direct investments credit flow, consolidated

The non-financial corporations sector credit flow represents the net amount of liabilities in which the sector non-financial corporations (S.11) have incurred along the year. The instruments that are taken into account to compile the non-financial corporations sector credit flow are Debt securities (F.3) and Loans (F.4), to which the Foreign Direct Investments (FDI) are excluded. Foreign Direct Investments are taken from Balance of Payment (BoP). Data are presented in consolidated terms, i.e. data do not take into account transactions within the same sector and expressed in % of the related stocks (excluding FDI) at the end of the previous year. Definitions regarding sectors and instruments are based on the ESA 2010 and BPM6 (for FDI).

The MIP scoreboard indicator is expressed in % of the related stocks (excluding FDI) at the end of the previous year. It is the flow counterpart of the non-financial corporations sector debt (which is a stock indicator). The indicative threshold of non-financial corporations sector credit flow is 13%. The formula is: [(PSCF-FDI)(t)/(STOCKS-FDI)(t-1)]*100.