General government EMU debt fell to 2002 levels

General government EMU debt at nominal prices fell clearly in the third quarter of 2007. The fall was due to a decrease in central government debt and especially to the redemption of a EUR 5 billion tranche of government bonds. By contrast, local government debt continued its steady growth similarly to previous quarters. At the end of the third quarter general government consolidated debt stood at EUR 59.1 billion of which central government debt accounted for EUR 51.5 billion and local government debt for the remainder.

The previous time general government debt was under EUR 60 billion was at the end of 2002. It should, however, be noted that in recent years debt has tended to increase in the last quarter of the year, so the debt may increase at the end of 2007 despite the falling trend. Fluctuations in the volume of central government debt primarily result from changes in short term debt and in central government bonds, which make up the majority of general government debt. By contrast, local government debt consists of long-term loans and sharp fluctuations do not occur.

Central government EMU debt by quarter in 2000-2007¹⁾

Local government EMU debt by quarter in 2000-2007¹⁾

¹⁾ Scale in figures corrected on 15 Jan. 2008

Source: General government EMU debt

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Last updated 15.1.2008

Referencing instructions:

Official Statistics of Finland (OSF): General government debt by quarter [e-publication].
ISSN=1799-8034. 3rd quarter 2007. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/jyev/2007/03/jyev_2007_03_2008-01-04_tie_001_en.html