Home > Statistics > General government revenue and expenditure by quarter > 2012 > 3rd quarter > General government deficit continued growing in July-September

Published: 20 December 2012

General government deficit continued growing in July-September

In the third quarter of 2012, general government revenue grew by EUR 0.3 billion from the respective quarter of the previous year. Correspondingly, expenditure increased by EUR 1.6 billion. The difference between revenue and expenditure, that is, the deficit (net borrowing) of general government rose by EUR 1.3 billion from the respective quarter of the year before. Total revenue increased by 0.8 per cent from the previous quarter. Total expendeiture increased by 0.9 per cent from the previous quarter. In the third quarter of 2012, the general government deficit (net borrowing) stood at EUR 1.1 billion. These data derive from Statistics Finland’s statistics on general gov-ernment revenue and expenditure by quarter. General government is comprised of central government, local government and social security funds.

General governments net lending (+) / net borrowing (-), trend

Examinations of year-on-year changes are made with figures unadjusted for seasonal variation. Central government's total revenue fell by EUR 74 million from the respective quarter of the year before. Income and wealth taxes received by central government and capital income decreased most. The revenue from taxes on production and imports increased. Central government's total expenditure went up by EUR 631 million from the respective quarter of the year before. The expenditure items that increased most were current transfers paid and intermediate consumption. Total revenue of social security funds grew by EUR 198 million year-on-year. The revenue item that grew most was social contributions. Total expenditure of social security funds grew by EUR 716 million. The expenditure item that grew most was paid social benefits other than social transfers in kind. Total revenue of local government grew by EUR 365 million from the respective quarter of the year before. The revenue items that increased most were market output and current transfers received. Total expenditure of local government grew by EUR 441 million. The expenditure items that grew the most were intermediate consumption, compensation of employees and gross capital formation.

Examinations of changes from the previous quarter are made with seasonally adjusted figures. Central government's total revenue did not grow from the previous quarter. Respectively, central government's total expenditure increased by 0.2 per cent from the previous quarter. The expenditure item that increased most was paid capital transfers. Local government's total revenue went up by 1.2 per cent from the previous quarter. The revenue item that grew most was market output. Local government's total expenditure grew by 0.3 per cent from the previous quarter. The expenditure item that increased most was intermediate consumption. Total revenue of social security funds grew by 1.0 per cent from the previous quarter. The revenue item that grew most was social contributions. Total expenditure of social security funds grew by 2.1 per cent from the previous quarter. Paid social benefits other than social transfers in kind increased most.

The data for the two latest years are preliminary and will become revised as annual national accounts data are revised. Seasonally adjusted and trend time series have been calculated with the Tramo/Seats method. The change in total revenue and expenditure from the previous quarter has been calculated from seasonally adjusted time series. Seasonally adjusted and trend time series always become revised against new observations irrespective of whether the original time series becomes revised or not. Further information on the seasonal adjustment method: http://www.tilastokeskus.fi/til/tramo_seats_en.html As the time series of annual accounts become revised, the time series of this set of statistics will also be revised. These data are based on the data sources available by 18/12/2012. The data will next be revised at the end of March 2013.

Source: General government revenue and expenditure,3rd quarter 2012. Statistics Finland

Inquiries: Jouni Pulkka 09 1734 3532, Teuvo Laukkarinen 09 1734 3315, rahoitus.tilinpito@stat.fi

Director in charge: Ari Tyrkkö

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Appendix tables

• Appendix table 1. Change in general government revenue and expenditure 2012/3 (20.12.2012)

Figures

• Appendix figure 1. Social benefits other than social transfers in kind (20.12.2012)
• Appendix figure 2. Actual social contributions (20.12.2012)
• Appendix figure 3.Current Taxes on Income, Wealth, etc., trend (20.12.2012)
• Appendix figure 4. Taxes on Production and Imports (20.12.2012)
• Appendix figure 5. Total revenue, trend (20.12.2012)
• Appendix figure 6. Total expenditure, trend (20.12.2012)
• Appendix figure 7. Final Consumption expenditure, trend (20.12.2012)
• Appendix figure 8. Gross savings, trend (20.12.2012)

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Updated 20.12.2012