Home > Statistics > General government debt by quarter > 2008 > 1st quarter > General government EMU debt contracted by EUR 1.8 billion

Published: 4 July 2008

General government EMU debt contracted by EUR 1.8 billion

General government EMU debt at nominal prices contracted by EUR 1.8 billion in the first quarter of 2008. The quarterly fluctuation of the EMU debt is usually caused by changes in central government bonds and short-term money market instruments, whereas the amount of loans remains quite stable. At the end of the first quarter, general government debt totalled EUR 61.1 billion, which was almost the same as one year earlier.

Bond debts made up the majority (86%) of central government debt. Their amount remained stable in the first quarter but central government reduced its debt especially by a EUR 2 billion buyback of money market instruments. In the first quarter, central government debt contracted by EUR 2.1 billion and was EUR 55.8 billion at the end of the quarter.

The share of local government, that is, municipalities and joint municipal boards, of EMU debt continued the steady growth it has shown over the past few years. Local government debt rose by EUR 0.3 billion to EUR 9.6 billion by the end of the quarter. Local government debt is mainly (89%) comprised of long-term loans.

General government debt is consolidated debt, meaning that is excludes debt items between sub-sectors. For this reason general government debt is smaller than the combined debts of its sub-sectors.

General government EMU debt by instrument during 1q2000-1q2008

Source: General government EMU debt

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

Director in charge: Mr Ari Tyrkkö

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Last updated 4.7.2008