ESA 2010: the Tram of Liege finally deconsolidated!
The Institute of National Accounts has just published its opinion of January concerning the so-called "Tram of Liege" project.
After having examined the operation in light of the rules contained in the "Guide to the Statistical Treatment of PPPs", published by the EPEC (European PPP Expertise Centre) and EUROSTAT in the month of September 2016, the I.C.N. (Institute for the National Accounts) is of the opinion that there is "a strong presumption that the PPP must be recorded in the balance sheet of the private partner".
Even though at this stage, in the light of the ESA 2010 rules, it is considered that the project may be deconsolidated, there is good reason to be mindful that the share of the additional revenue that the contract could provide to the SRWT (Walloon Regional Transport Corporation) does not exceed its currently projected value.
The opinion is available here: http://inr-icn.fgov.be/fr/sec
Associated areas of specialisation: Public economics and finance, Public procurement and PPP