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Published: 25 September 2020

General government’s net financial assets increased in the second quarter of 2020

At the end of the second quarter of 2020, general government's net financial assets, i.e. the difference between assets and liabilities, amounted to EUR 132.2 billion. Net financial assets went up by EUR 9.7 billion from the previous quarter. The growth was mostly due to employment pension schemes’ positive investment income. These data derive from general government financial accounts compiled by Statistics Finland.

General government’s net financial assets

Central government's net financial assets remained on level with the previous quarter, at EUR -63.5 billion. Assets grew in all by EUR 8.4 billion, especially as a result of holding gains from shares and equity and a growth in the stock of transferable deposits. Holding gains from shares and mutual funds totalled EUR 5.3 billion. Liabilities grew by EUR 8.4 billion mainly due to a growth in the long-term and short-term stock of debt securities.

The local government sector's net financial assets fell by EUR 0.5 billion, being EUR -7.1 billion at the end of the quarter. Assets grew by EUR 0.8 billion and at the same time liabilities increased by EUR 1.3 billion. The liabilities stock of short-term and long-term loans was EUR 22.5 billion at the end of the quarter.

Employment pension schemes' net financial assets stood at EUR 200.3 billion at the end of the quarter. Employment pension schemes’ net financial assets grew by EUR 10.4 billion compared to the previous quarter. Holding gains from mutual fund shares amounted to EUR 5.4 billion and holding gains from shares and equity to EUR 3.8 billion. Holding gains from long-term debt securities amounted to EUR 1.0 billion and employment pension schemes resigned from them to the tune of EUR 1.6 billion.

The net financial assets of other social security funds decreased by EUR 0.2 billion. The total stock of liabilities went up by EUR 1.3 billion mainly due to growth in the stock of debt securities. The EUR 1.0 billion growth in the stock of transferrable deposits explains most of the EUR 1.1 billion growth in assets.

Source: General government financial accounts, Statistics Finland

Inquiries: Olli-Pekka Aaltonen 029 551 3090, Aaro Hottinen 029 551 3231, financial.accounts@stat.fi

Head of Department in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. General government financial assets, liabilities and net assets, EUR billion (25.9.2020)

Figures

• Appendix figure 1. Shares and other equity held by employment pension schemes (25.9.2020)
• Appendix figure 2. Financial assets of central government (25.9.2020)

Revisions in these statistics

• Revisions in these statistics (25.9.2020)

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Updated 25.09.2020