Public debt refers to general government debt.
Debt-to-GDP ratio developments depend upon the differences between the real interest rate on government debt and GDP growth rate, and the primary fiscal balance, Hence, selling public assets would have a temporary impact on debt, since it does not affect the main drivers of debt dynamics (economic growth and the primary fiscal balance), unless it reduces permanently the cost of debt to a lower level than economic growth.
One-off measures refer to government decisions of a nonrecurrent nature. They affect general government net lending/borrowing for a few years but not permanently.
Structural measures, in this context, refer to government decisions that permanently affect general government net lending/borrowing.
Artoni and Ceriani (2007) claim that economic conditions must be the relevant factor underlying the different fiscal performance of the two countries after 1999, since the expenditure- and revenue-to-GDP ratios have been broadly constant in both countries. However, these authors do not take into consideration a major factor, the adjustment effort made in mid-1990, which put the debt on a downward trajectory and created a debt snowball effect.