General government debt grew by EUR 5.0 billion in the fourth quarter of 2022release | General government debt by quarter 2022, 4th quarter
According to Statistics Finland, general government EDP debt, i.e. consolidated gross debt at nominal prices, amounted to EUR 194.8 billion at the end of the fourth quarter of 2022 and grew by EUR 5.0 billion during the quarter. Relative to GDP, general government debt stood at 73.0 per cent. Compared with the respective period of the year before, general government debt has increased by EUR 12.8 billion.
- Central government debt grew by EUR 4.9 billion during the fourth quarter.
- The local government sector's debt decreased by EUR 0.1 billion.
- The debt of social security funds grew by EUR 0.6 billion.
Central government debt grew by EUR 4.9 billion during the fourth quarter
During the fourth quarter, central government debt grew by EUR 0.6 billion and was EUR 160.1 billion at the end of the quarter. The stock of long-term bonds increased by EUR 2.7 billion and the stock of short-term debt instruments with a maturity of under one year increased by EUR 2.8 billion. The stock of short-term loans went down by EUR 0.1 billion and the stock of long-term loans went down by EUR 0.2 billion.
Local government sector's debt decreased by EUR 0.1 billion
The local government sector's debt decreased by EUR 0.1 billion in the fourth quarter of 2022. The local government sector's short-term loan stock grew by EUR 0.3 billion. The stocks of short and long term debt instruments decreased from the level of the previous quarter.
Debt of social security funds grew by EUR 0.6 billion
Social security funds' debt grew by EUR 0.6 billion as short-term debts grew and the debt totalled EUR 3.9 billion at the end of the quarter. Of these, the debt stock of employment pension schemes was EUR 2.7 billion and that of other social security funds EUR 1.3 billion.
Definition of EDP debt
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 debt-to-GDP ratio has been calculated using a seasonally and working day adjusted GDP series at market prices.
The EDP debt of general government differs conceptually to some extent in the case of central government from the central government debt published by the State Treasury. Central government's EDP debt also 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, the deposits of the European Commission and ARA interest subsidy loans. In National Accounts, central government is also a broader concept than the budget and financial economy. However, the State Pension Fund is classified as a social security fund. The valuation principle for both debt concepts is the nominal value, where the effect of currency swaps is taken into account.
General government debt by quarter, EUR billion
Central government guarantees, EUR million
Revision of general government debt from the first publication, EUR million
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