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Published: 30 September 2009

Revised EMU deficit and debt figures for 2008 released

According to Statistics Finland’s revised preliminary data, the general government’s EMU surplus amounted to EUR 8.2 billion, of 4.5 per cent of GDP in 2008, while the respective figures in 2007 were EUR 9.4 billion and 5.2 per cent of GDP. The central government sector’s surplus decreased by EUR 2.1 billion from the year before to EUR 1.7 billion. The local government sector continued to show a slight deficit, which in 2008 amounted to EUR 0.4 billion. Employment pension funds accumulated a surplus of EUR 6.8 billion. The surplus of other social security funds amounted to EUR 0.1 billion.

The amount of general government EMU debt contracted by EUR 0.2 billion to EUR 63.0 billion during 2008. Central government debt decreased by EUR 0.5 billion whereas local government debt grew by EUR 0.3 billion. At the same time, the GDP share of the EMU debt fell to 34.1 per cent from the previous year’s 35.2 per cent.

Compared to the preliminary data on 2008 released in March 2009, general government surplus became revised upwards by EUR 0.5 billion and general government debt by EUR 0.9 billion. The size of the EMU debt was pushed up by the reclassification of margin deposits received by central government from its derivative contract counterparts. They are now classified as short-term loans, but were previously included in statistics as other accounts payable which do not fall within the scope of the definition of EMU debt. At the end of 2008, the margin deposits amounted to EUR 1.0 billion.

The figures derive from the data reported by Statistics Finland to the European Commission in September.

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

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

Source: General government deficit and gross debt according to EMU criteria, 2008, Statistics Finland

Inquiries: Mika Sainio (09) 1734 2686, Matti Okko (09) 1734 3341,

Director in charge: Ari Tyrkkö

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Updated 30.09.2009

Referencing instructions:

Official Statistics of Finland (OSF): General government deficit and debt [e-publication].
ISSN=1799-5914. 2008. Helsinki: Statistics Finland [referred: 15.4.2024].
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