Published: 27 September 2019

General government debt grew by EUR 5.6 billion in the second quarter of 2019 (Heading revised. Was previously: 5.4)

Corrected on 21 October 2019. The corrections are indicated in red.

General government EDP debt, or consolidated gross debt at nominal prices amounted to EUR 144.2 billion at the end of the second quarter of 2019 and grew by EUR 5.6 billion during the quarter. Correspondingly, general government debt has grown by EUR 7.4 billion compared with the respective period of the year before. These data derive from Statistics Finland's statistics on general government debt by quarter. In connection with the October EDP notification, the time series for general government debt by quarter has become slightly revised starting from 2010 .

General government debt by quarter

General government debt by quarter

During the second quarter, central government debt grew by EUR 5.0 billion and was EUR 121.1 billion at the end of the quarter. The number of short-term debt instruments with a maturity of under one year increased on net by EUR 4.9 billion over the second quarter. The stock of bonds grew, in turn, by EUR 0.2 billion. The stock of short-term loans declined by EUR 0.3 billion and the stock of long-term loans grew by EUR 0.2 billion.

The local government sector's debt stood at EUR 22.2 billion at the end of the quarter. The amount of short-term debt instruments decreased by EUR 0.6 billion and the stock of long-term loans grew by EUR 0.6 billion. Social security funds' debt increased by EUR 0.3 billion and totalled EUR 2.3 billion at the end of the quarter. The increase in the amount of debt is explained by an increase in short-term loans.

General government EDP debt describes general government’s debt to other sectors of the national economy and to the rest of the world, and its development is influenced by changes in unconsolidated debt and internal general government debts. Consolidated general government gross debt is derived by deducting debts between units recorded under general government from unconsolidated gross debt. For this reason, general government debt is smaller than the combined debts of its sub-sectors.

The EDP debt of general government differs conceptionally to some extent in the case of central government from the central government debt published by the State Treasury. Central government's EDP debt also includes loans granted to beneficiary counties by the European Financial Stability Facility EFSF, received cash collaterals related to derivative contracts, the capital of the Nuclear Waste Management Fund, debts generated from investments in central government's PPP (public-private partnership) projects, coins that are in circulation, and the deposits of the European Commission. In National Accounts, central government is also a broader concept than the budget and financial economy. The valuation principle for both debt concepts is the nominal value, where the effect of currency swaps is taken into account. A list of units belonging to general government (only in Finnish) and decisions on major sector classification cases (only in Finnish) are available at http://www.stat.fi/meta/luokitukset/_linkki/soveltamisp.html.


Source: General government debt by quarter, Statistics Finland

Inquiries: Aaro Hottinen 029 551 3231, Jose Lahtinen 029 551 3776, rahoitus.tilinpito@stat.fi

Director in charge: Ville Vertanen

Publication in pdf-format (220.2 kB)

Tables

Tables in databases

Appendix tables

Revisions in these statistics

Updated 27.09.2019

Referencing instructions:

Official Statistics of Finland (OSF): General government debt by quarter [e-publication].
ISSN=1799-8034. 2nd quarter 2019. Helsinki: Statistics Finland [referred: 15.12.2019].
Access method: http://www.stat.fi/til/jyev/2019/02/jyev_2019_02_2019-09-27_tie_001_en.html