General government EDP debt decreased by EUR 2.5 billion in the third quarter of 2015

General government EDP debt, or consolidated debt at nominal prices, decreased by EUR 2.5 billion in the third quarter of 2015 and stood at EUR 126.1 billion at the end of quarter. Compared with the respective period of the year before, general government debt has increased by a total of EUR 7.6 billion. These data derive from Statistics Finland's statistics on general government debt by quarter.

General government debt by quarter

During the third quarter of 2015, central government debt diminished by EUR 2.9 billion, and stood at EUR 110.1 billion at the end of the quarter. Due to amortisations, the stock of bonds decreased by EUR 2.8 billion, and the stock of both short and long-term loans by a total of EUR 0.1 billion. The debt of local government, that is, mainly municipalities and joint municipal boards, remained on level with the previous quarter, totalling EUR 17.9 billion at the end of the quarter. Social security funds’ debt also remained on level with the previous quarter, standing at EUR 0.8 billion at the end of the quarter.

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.

Central government's EDP debt as a concept differs in the case of central government from the central government debt published by the State Treasury. Central government's EDP debt 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.

Source: General government debt by quarter, Statistics Finland

Inquiries: Timo Ristimäki 029 551 2324, Riikka Tupala 029 551 3349, rahoitus.tilinpito@stat.fi

Director in charge: Ville Vertanen

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Appendix tables

Appendix table 1. General government debt, EUR billion (21.12.2015)

Revisions in these statistics

Revisions in these statistics (21.12.2015)

Updated 21.12.2015

Referencing instructions:

Official Statistics of Finland (OSF): General government debt by quarter [e-publication].
ISSN=1799-8034. 3rd quarter 2015. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/jyev/2015/03/jyev_2015_03_2015-12-21_tie_001_en.html