The scope of the state’s activities has been expanding for many years. The growing size of the state apparatus is affecting public finances. The pace at which these changes are taking place is so fast that the vast majority of countries are currently running a public sector deficit. As a result, their debt levels are growing, which is accompanied by an increase in general fiscal risk. Part of this phenomenon is also an increase in hidden (or potential) public debt. This is due to the fact that not all forms of public debt are classified as part of the State Treasury debt or even the so-called EDP debt (the debt of the general government sector). Not all of the processes that lead to an increase in the overall debt level are monitored. This means that the general debt ratio, as presented by finance ministries or central banks, should only be treated as an indicative measure.[…]