General government EMU debt went up in the last quarter of 2007

General government EMU debt went up by nearly EUR 4 billion in the last quarter of 2007 and at year-end stood at EUR 63 billion, of which central government debt accounted for EUR 57.9 billion and local government debt for EUR 9.3 billion. General government debt is consolidated debt, meaning that it excludes debt items between sub-sectors. For this reason general government debt is smaller than the combined debts of its sub-sectors.

General government debt went up in consequence of EUR 3.9 billion growth in central government debt, caused by EUR 2.7 billion increase in its short-term money market instrument debt and EUR 0.9 increase in government bond debt. Although central government debt went up in the quarter, the General government EMU debt stayed below the level of the last quarter of 2006.

The EMU debt of local government, that is municipalities and joint municipal boards, continued the steady growth it has shown over the past few years. Local government debt, which consists mainly of long-term loans, grew by EUR 0.3 billion during the last quarter of 2007 and stood at EUR 9.3 billion. At year-end, local government's long-term loans exceeded EUR 8 billion, whereas as late as at the end of 2000 they still stood at EUR 4.5 billion.

General government EMU debt in 2000-2007

Source: General government EMU debt. Statistics Finland

Inquiries: Ms Reetta Varjonen-Ollus +358 9 1734 3533, Mr Matti Okko +358 9 1734 3341, rahoitus.tilinpito@stat.fi

Director in charge: Mr Ari Tyrkkö

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Last updated 4.4.2008

Referencing instructions:

Official Statistics of Finland (OSF): General government debt by quarter [e-publication].
ISSN=1799-8034. 4th quarter 2007. Helsinki: Statistics Finland [referred: 24.11.2024].
Access method: http://www.stat.fi/til/jyev/2007/04/jyev_2007_04_2008-04-04_tie_001_en.html