Home > Statistics > General government debt by quarter > 2016 > 1st quarter > General government debt grew by EUR 2.8 billion in the first quarter of 2016

Published: 30 June 2016

General government debt grew by EUR 2.8 billion in the first quarter of 2016

General government EDP debt, or consolidated debt at nominal prices, grew by EUR 2.8 billion in the first quarter of 2016 and stood at EUR 133.8 billion at the end of the quarter. Compared with the respective period of the year before, general government debt has increased by a total of EUR 9.4 billion. These data derive from Statistics Finland's statistics on general government debt by quarter.

General government debt by quarter

During the first quarter of 2016, central government debt grew by EUR 2.7 billion, and stood at EUR 116.2 billion at the end of the quarter. Central government debt grew in the first quarter mainly because the stock of bonds issued by central government increased by EUR 2.9 billion. In addition, the stock of both short and long-term loans grew by EUR 0.4 billion. Over the same period, the stock of deposits and short-term debt securities decreased altogether by EUR 0.5 billion. Local government debt increased by EUR 0.2 billion and totalled EUR 18.7 billion at the end of the quarter. The debt of other social security funds diminished by EUR 0.1 billion during 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.

The EDP debt of general government differs conceptionally to some extent 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 budget and financial economy (http://www.stat.fi/meta/luokitukset/_linkki/julkisyhteisot.html). The valuation principle for both debt concepts is the nominal value, where the effect of interest-rate contracts and 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 table 1. General government debt, EUR billion (30.6.2016)

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• Revisions in these statistics (30.6.2016)

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Updated 30.06.2016