Home > Statistics > General government debt by quarter > 2006 > 1st quarter > General government EMU debt fell at the beginning of 2006

Published: 3 July 2006

General government EMU debt fell at the beginning of 2006

General government EMU debt fell during the first quarter of 2006 by close on EUR 5 billion, being EUR 58.9 billion at the end of March. The fall was a consequence of central government debt decreasing by EUR 5.3 billion. In contrast, local government debt grew slightly (by EUR 0.2 billion) and that of social security funds remained unchanged. The decrease in central government debt was made possible by higher tax revenue than expected in the early part of the year and income from dividends received by central government. General government debt fell strongly in the first quarters of 2004 and 2005 as well.

Until the middle of 2003 the consolidated total debt of general government was smaller than central government debt, but in recent years the situation has become the opposite. This is primarily due to that employment pension schemes have gradually reduced the number of central government bonds in their possession. These bonds are part of central government debt but they are not visible in total general government debt according to EMU criteria, because debt items between general government sectors are consolidated from it.

General government EMU debt and central government debt by quarter in 2002-2006

Source: General government EMU debt. Statistics Finland

Inquiries: Mr Matti Okko +358 9 1734 3341, Ms Reetta Varjonen +358 9 1734 3533, rahoitus.tilinpito@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 3.7.2006