25/08/2003 (Agence Europe) - The Statistical Office of the European Communities, Eurostat, has specified the conditions in which the transfer of funds to public companies may be recorded, either as a financial operation that has no effect on public deficit or surplus, or as public expenditure (capital transfer) which affects the public balance. For the measure to be considered as a financial operation it is important to determine whether the public administration can effectively be considered as a shareholder or normal investor, anticipating returns on investment in the form of a future flow in dividends and/or in the form of increased value of the financial assets represented by its right on the company. A new version of the corresponding chapter in the Manual on deficit and debt will soon be availabe (see http: //europa.eu.int/comm/eurostat).