General government surplus decreased by EUR 0.4 billion in April to June

In the second quarter of 2013, consolidated total general government revenue grew by EUR 0.8 billion from the respective quarter of the previous year. Consolidated expenditure increased by EUR 1.2 billion. The difference between revenue and expenditure, that is, the surplus (Net lending) of general government fell by EUR 0.4 billion from the year before. Total revenue increased by 0.5 per cent from the previous quarter. Total expenditure grew by 1.8 per cent from the previous quarter. In the second quarter of 2013, the general government surplus (net lending) stood at EUR 1.2 billion. These data derive from Statistics Finland’s statistics on general government 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

Changes from the respective quarter of the year before

Examinations of year-on-year changes are made with figures unadjusted for seasonal variation. In the second quarter, central government's total revenue amounted to EUR 13.3 billion and total expenditure was EUR 13.6 billion. Central government's total revenue grew by EUR 0.4 billion, or by 3.0 per cent from the respective quarter of the year before. Correspondingly, total expenditure increased by EUR 0.3 billion or 2.4 per cent. The difference between revenue and expenditure, that is, the deficit (net borrowing) of central government went down by EUR 0.1 billion. The deficit totalled EUR 0.2 billion.

Local government's total revenue was EUR 12.0 billion in the second quarter. They grew by EUR 0.6 million or 5.6 per cent from the respective quarter in the year before. The revenue items that increased most were market output, current transfers received and income and wealth taxes received. Local government's total expenditure was EUR 11.6 billion in the second quarter. They grew by EUR 0.5 billion or 4.1 per cent. The expenditure items that grew most were intermediate consumption and compensation of employees. The difference between revenue and expenditure, that is, the surplus (net lending) of local government increased by EUR 175 million and amounted to EUR 343 million.

Social security funds include employment pension schemes and other social security funds. In the second quarter, total revenue of employment pension schemes amounted to EUR 6.8 billion and total expenditure was EUR 5.5 billion. Total revenue grew by EUR 0.1 billion or 0.7 per cent from the corresponding quarter of the year before and total expenditure increased by EUR 0.4 billion or 7.4 per cent. The revenue item that grew most was social contributions and in expenditure paid social benefits other than social transfers in kind grew most. The difference between revenue and expenditure, that is, the surplus (net lending) of employment pension schemes went down by EUR 0.3 billion and amounted to EUR 1.3 billion.

Other social security funds' total revenue was EUR 4.1 billion in the second quarter. The change in total revenue amounted to -1.9 per cent from the corresponding quarter of one year ago. Most of the revenue items remained on level with the previous year, but current transfers received from central government were lower than in the previous year. The expenditure of other social security funds amounted to EUR 4.3 billion, which was 5.6 per cent higher than one year ago. The expenditure item that grew most was paid social benefits other than social transfers in kind. The difference between revenue and expenditure, that is, the deficit (net borrowing) of other social security funds was EUR 0.2 billion.

Changes from the previous quarter

Examinations of changes from the previous quarter are made with seasonally adjusted figures. Central government's total revenue diminished by 1.0 per cent from the previous quarter. Respectively, central government's total expenditure grew by 0.0 per cent.

Local government's total revenue went up by 3.2 per cent from the previous quarter. Local government's total expenditure grew by 2.3 per cent from the previous quarter.

Employment pension schemes' total revenue went up by 0.4 per cent and total expenditure by 2.2 per cent from the previous quarter. Other social security funds' total revenue decreased by -4.8 per cent and total expenditure increased by 0.4 per cent from the previous quarter.

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. 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 26 September 2013. The data will next be revised at the end of December 2013.

Source: General government revenue and expenditure, 2nd quarter 2013. Statistics Finland

Inquiries: Jouni Pulkka 09 1734 3532, Teuvo Laukkarinen 09 1734 3315, Anu Karhu 09 1734 3325, Jukka Hyt�nen 09 1734 3484, rahoitus.tilinpito@stat.fi

Director in charge: Leena Storg�rds

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Appendix tables

Appendix table 1. Change in general government revenue and expenditure 2013/2 (30.9.2013)

Figures

Appendix figure 1. Social benefits other than social transfers in kind (30.9.2013)
Appendix figure 2. Actual social contributions (30.9.2013)
Appendix figure 3.Current Taxes on Income, Wealth, etc., trend (30.9.2013)
Appendix figure 4. Taxes on Production and Imports (30.9.2013)
Appendix figure 5. Total revenue, trend (30.9.2013)
Appendix figure 6. Total expenditure, trend (30.9.2013)
Appendix figure 7. Final Consumption expenditure, trend (30.9.2013)
Appendix figure 8. Gross savings, trend (30.9.2013)

Revisions in these statistics

Revisions in these statistics (30.9.2013)

Updated 30.9.2013

Referencing instructions:

Official Statistics of Finland (OSF): General government revenue and expenditure by quarter [e-publication].
ISSN=1797-9382. 2nd quarter 2013. Helsinki: Statistics Finland [referred: 16.11.2024].
Access method: http://www.stat.fi/til/jtume/2013/02/jtume_2013_02_2013-09-30_tie_001_en.html