Sector financing 1977

This article reviews the main developments in the flow of funds between sectors of the economy in 1977.

As the chart and the table below show, the main changes from the previous year in the sectoral surpluses and deficits were the marked reduction in the public sector defIcit and the elimination of the surplus of the overseas sector, mirroring the swing from deficit to balance on the current account of the balance of payments. The personal sector surplus rose by 8% in nominal terms, but fell slightly in real terms, while the increase in the annual deficit of industrial and commercial companies concealed a change from large deficit in the fIrst half-year to small surplus in the second. The figures show a larger deficit for financial companies (mainly because of higher fixed investment); identifIed financial transactions. however, which are probably a more reliable guide for this sector in particular, suggest an improvement in their position.

Sector financing 1977