Monday 06.07.2020

General government debt grew by 12.3 billion

Central government debt grew by 10.5 billion euros and was 128.6 billion euros at the end of the first quarter.
Ministers of Finance and Economic Affairs, Matti Vanhanen (L) and Mika Lintilä. Photo: Lauri Heikkinen/Vnk.
Ministers of Finance and Economic Affairs, Matti Vanhanen (L) and Mika Lintilä. Photo: Lauri Heikkinen/Vnk.

General government debt for the purpose of excessive deficit procedure (EDP) amounted to 154.7 billion euros at the end of the first quarter of 2020 and grew by 12.3 billion during the quarter.

Correspondingly, general government debt has grown by 14.8 billion euros compared with the respective period of the year before. These data derive from Statistics Finland's statistics on general government debt by quarter.General-government-debtSource: Statistics Finland.

During the first quarter, central government debt grew by 10.5 billion euros and was 128.6 billion euros at the end of the quarter.

The number of short-term debt instruments with a maturity of under one year grew by 6.5 billion euros and the stock of long-term debt instruments grew by 4.2 billion. The stock of short-term loans grew by 0.5 billion euros and the stock of long-term loans went down by 0.6 billion.

The local government sector's debt grew by 1.1 billion euros and totalled 25.4 billion at the end of the quarter. The number of debt instruments grew by 0.8 billion euros and the loan stock went up by 0.3 billion.

Social security

Social security funds' debt grew by 0.6 billion euros and totalled 2 billion at the end of the quarter. Of them, employment pension schemes' debt grew by 0.5 billion euro due to cash collateral received in connection with derivative contracts and securities lending.

The debt of other social security funds grew by 0.1 billion euros due to a newly issued debt security.

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.

Comments