Published: 31 March 2011

Initial preliminary data released on general government deficit and debt in 2010 did not change when revised

According to Statistics Finland's preliminary data, the GDP share of Finland's general government debt was 48.4 per cent in 2010. General government deficit relative to GDP was 2.5 per cent. The data on deficit and debt in 2010 did not change from the initial preliminary data released on 1 March 2011. According to the preliminary data, public deficit and debt remained below the reference values of the European Union’s Growth and Stability Pact.

Finland's general government deficit (-) and debt, percentage of GDP

Finland's general government deficit (-) and debt, percentage of GDP

In 2010, the financial position of general government was EUR 4.4 billion in deficit. The central government sector's deficit increased by EUR 1.4 billion to EUR 9.2 billion. Paid current transfers went up in particular and the central government's tax revenue turned towards moderate growth during 2010. The local government sector's deficit contracted by EUR 0.6 billion to EUR 0.5 billion due to growth in tax revenue and received income transfers. Employment pension funds accumulated a surplus of EUR 5.2 billion. Paid pensions, received pension contributions and property income all showed growth.

During 2010, general government debt went up by EUR 12.2 billion to EUR 87.2 billion. Unconsolidated gross debt increased by EUR 11.9 billion from the year before. Central government debt grew by EUR 11.3 billion and local government debt by EUR 0.6 billion. Internal general government debt decreased by some EUR 0.3 billion. The EDP debt describes general government’s debt to the other sectors of the economy and to the rest of the world, and its development is influenced by changes in both the unconsolidated gross debt and the internal general government debt.

The public deficit concept used in these statistics complies with the Excessive Deficit Procedure (EDP) of the European Union's Growth and Stability Pact. This so-called EDP deficit corresponds with the net lending of the general government sector account in national accounts (ESA95), except for the interest flows relating to swap and forward rate agreements, which are entered as interest expenses in the EDP deficit report but as changes in derivative debt in national accounts. In 2010, the impact from the difference between the methods amounted to 0.3 per cent of GDP, and according to preliminary data the net lending of the sector accounts compliant with ESA95 was -2.8 per cent of GDP.

These data will next be revised at the end of September 2011.


Source: General government deficit and debt. Statistics Finland

Inquiries: Mika Sainio (09) 1734 2686, Mira Lehmuskoski (09) 1734 2708, financial.accounts@stat.fi

Director in charge: Ari Tyrkkö

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Updated 31.3.2011

Referencing instructions:

Official Statistics of Finland (OSF): General government deficit and debt [e-publication].
ISSN=1799-5914. 2010. Helsinki: Statistics Finland [referred: 17.7.2019].
Access method: http://www.stat.fi/til/jali/2010/jali_2010_2011-03-31_tie_001_en.html