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National economy

Financial position of general government improved by EUR 1.7 billion from the respective quarter of the previous year

Statistics:
Reference period:
2022, 1st quarter
Published:
Next release:
Publication type:
release

According to Statistics Finland, consolidated general government revenue grew by EUR 2.1 billion and consolidated expenditure by EUR 0.4 billion in the first quarter of 2022 from the quarter twelve months back. The difference between revenue and expenditure, that is, the net borrowing of general government was EUR 1.3 billion.


Line chart on the development of the trend of general government’s financial position in 1999Q1 to 2022Q1 (EUR billion). General government as a whole showed a surplus until 2008, but it has been in deficit since 2009. In addition to the plunge in 2009, the trend also shows a weakening of the financial position in 2012 to 2014 and in 2019 to 2020. In the latest quarters, the trend of the financial position of general government (as a whole) has been rising. Of the sub-sectors, local government has typically been in deficit and central government in deficit since 2009. Employment pension schemes have shown a surplus. Other social security funds have been either in surplus or in deficit depending on the economic cycle. During the last four quarters, the financial position has seen a trend-like improvement in central government and employment pension schemes, but weakened in local government and slightly in other social security funds.

Key points

  • The financial position of central government improved from one year back but the seasonally adjusted financial position weakened from the previous
    quarter.
  • The financial position of local government weakened both from one year ago and from the previous quarter. 
  • The financial position of employment pension schemes improved from the quarter twelve months back but seasonally adjusted it weakened from the previous
    quarter.
  • The financial position of other social security funds weakened from one year back but improved from the previous quarter.


Tables

See key statistical data in the tables.
22.06.2022

Change in general government revenue and expenditure 2022Q1

Data revisions

See key statistical data in the tables.
22.06.2022

Seasonally adjusted quarter-on-quarter change, %

22.06.2022

Year-on-year change, %

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