Home > Statistics > General government debt by quarter > 2016 > 3rd quarter > General government debt grew by EUR 0.9 billion in the third quarter of 2016

Published: 21 December 2016

General government debt grew by EUR 0.9 billion in the third quarter of 2016

General government EDP debt, or consolidated debt at nominal prices, grew by EUR 0.9 billion in the third quarter of 2016 and stood at EUR 131.2 billion at the end of the quarter. These data derive from Statistics Finland's statistics on general government debt by quarter.

General government debt by quarter

During the third quarter of 2016, central government debt increased by EUR 0.6 billion, and stood at EUR 112.4 billion at the end of the quarter. Central government debt grew in the third quarter mainly because the stock of bonds issued by central government increased by EUR 3.0 billion. The stock of short-term debt securities diminished in total by EUR 2.4 billion. Local government debt remained almost on level with the previous quarter, standing at EUR 17.8 billion at the end of March. The debt of social security funds grew by EUR 0.1 billion during the quarter.

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 subsectors.

The EDP debt of general government differs conceptionally to some extent in the case of central government, from the central government debt published by the State Treasury. Central government's EDP debt includes loans granted to beneficiary counties by the European Financial Stability Facility EFSF, received cash collateral 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, and the deposits of the European Commission. In National Accounts, central government is also a broader concept than budget and financial economy (http://www.stat.fi/meta/luokitukset/_linkki/julkisyhteisot.html). The valuation principle for both debt concepts is the nominal value, where the effect of interest-rate and currency swaps is taken into account.

Source: General government debt by quarter, Statistics Finland

Inquiries: Timo Ristimäki 029 551 2324, Henna Laasonen 029 551 3303, rahoitus.tilinpito@stat.fi

Director in charge: Ville Vertanen

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• Appendix table 1. General government debt, EUR billion (21.12.2016)

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• Revisions in these statistics (21.12.2016)

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Updated 21.12.2016