Home > Statistics > General government financial accounts > 2014 > 1st quarter > Central government’s net financial assets decreased further in the first quarter of 2014

Published: 30 June 2014

Central government’s net financial assets decreased further in the first quarter of 2014

Central government's liabilities grew more than assets in the first quarter of 2014. Growth in the assets of local government and social security funds kept the change in combined general government's net financial assets positive. At the end of the first quarter of 2014, general government's net financial assets, i.e. the difference between their financial assets and liabilities, amounted to EUR 116.2 billion. These data derive from general government financial accounts compiled by Statistics Finland.

General government’s net financial assets

Central government's net financial assets diminished by EUR 2.5 billion in the first quarter of 2014. The weaker financial position was the result of bonds being issued. At the end of the reference period, the difference between assets and liabilities in central government was EUR -45.0 billion.

The financial assets of employment pension schemes and other social security funds stood at EUR 166.5 billion at the end of March. In the first quarter, assets increased by EUR 2.3 billion, which largely explains the improvement in the financial position of general government during the period. Assets of social security funds were mainly boosted by holding gains accrued from equity and bond funds.

During the quarter, social security funds invested in net amounts most in money market instruments and mutual fund shares. Correspondingly, loan receivables were decreased similarly to previous quarters.

During the reference period, the financial position of local government improved by EUR 0.7 billion. At the end of the quarter, the difference between assets and liabilities in local government was EUR -0.8 billion.

In September 2014, EU Member States will introduce the revised European System of Accounts, ESA 2010. The next release of these statistics will be accordant with the new ESA 2010 system.

Source: General government financial accounts, Statistics Finland

Inquiries: Martti Pykäri 029 551 3382, Timo Ristimäki 029 551 2324, rahoitus.tilinpito@stat.fi

Director in charge: Leena Storgårds

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Appendix tables

• Appendix table 1. General government financial assets, liabilities and net assets, EUR billion (30.6.2014)

Figures

• Appendix figure 1. Shares and other equity held by employment pension schemes (30.6.2014)
• Appendix figure 2. Financial assets of central government (30.6.2014)

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Updated 30.6.2014