Government Finance Statistics Manual 2014

408 Government Finance Statistics Manual 2014

Maturity of a debt

instrument

Th e maturity of a debt instrument refers to the time until the debt is ex-

tinguished according to the contract between the debtor and the

creditor ......................................................................................................................7.266

Military inventories Military inventories consist of single-use items, such as ammunition, missiles,

rockets, bombs, etc., delivered by weapons or weapons systems ........................7.86

Mineral and energy

resources

Mineral and energy resources consist of mineral and energy reserves located on or

below the earth’s surface that are economically exploitable, given current technol-

ogy and relative prices ..............................................................................................7.97

Mineral exploration and

evaluation

Mineral exploration and evaluation consists of the value of expenditure on explo-

ration for petroleum and natural gas and for nonpetroleum deposits and subse-

quent evaluation of the discoveries made ..............................................................7.68

Monetary gold Monetary gold is gold to which the monetary authorities (or others who are sub-

ject to the eff ective control of the monetary authorities) have title and is held as a

reserve asset ..............................................................................................................7.1 26

Monetary transaction A monetary transaction is one in which one institutional unit makes a payment

(receives a payment) or incurs a liability (acquires an asset) to (from) another

institutional unit stated in units of currency ........................................................... 3.8

Monetary union A monetary union exists where there is the presence of a single monetary policy

among economies, established by an intergovernmental legal agreement .....A5.32

Motor vehicle taxes Motor vehicle taxes include taxes on the use of motor vehicles or permission to

use motor vehicles .....................................................................................................5.80

Net debt Net debt is calculated as gross debt minus fi nancial assets corresponding to debt

instruments ..............................................................................................................7.243

Net fi nancial worth Th e net fi nancial worth of an institutional unit (or grouping of units) is the total

value of its fi nancial assets minus the total value of its liabilities ............ 4.41, 7.235

Net investment in invento-

ries (change in inventories)

Net investment in inventories (change in inventories) is measured by the value

of the additions to inventories minus the value of withdrawals from inventories

minus the value of any recurrent losses of goods held in inventories during the

reporting period ........................................................................................................8.44

Net premiums Net premiums are defi ned as actual premiums plus premium supplements minus

the insurance service charge payable by the policyholders ..............................A4.76

Net value added Net value added is the value of output minus the values of both intermediate con-

sumption and consumption of fi xed capital .......................................................A7.25

Net worth Th e net worth of an institutional unit (or grouping of units) is the total value of its

assets minus the total value of its liabilities .....................................................4.39, 7.1

Neutral holding gain Neutral holding gains and losses over a period are the increase (decrease) in the

value of an asset that would be required, in the absence of transactions and other

changes in the volume of assets, to maintain command over the same amount of

goods and services as at the beginning of the period ............................ 10.11, A7.71

Nominal value Nominal value at any moment in time is the amount that the debtor owes to the

creditor ......................................................................................................................3.115