Sector Financial Balances

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The ADB COVID-19 Policy Database compiles policy actions undertaken by ADB members and categorizes them according to their differences in operational details and financial statement effects on the private sector. Financial statement effects either create debt or equity for the recipient. This also entails transfers of financial risks. This database uses the sector financial balances (SFBs) approach to show how different policy actions affected the different sectors of the economy – government, domestic private, and the external sector. Flow-of-funds data, when available, allow the disaggregation of the domestic private sector – household, firms, and the financial sector.

This SFBs database provides information on the sectoral financial balances of 35 economies. Quarterly sector financial balances are presented as percentage of GDP in tables and charts. The breakdown of domestic private sector balances is provided, if available.

As shown in Figure 1, in Q4 2019, the majority of the economies had positive domestic private balances and current account surpluses. In Q2 2020, many moved southwest, as shown in Figure 2. This corresponds to higher government deficits, higher domestic private surpluses, and small current account surpluses or even deficits.