Home > Statistics > General government debt by quarter > 2017 > 4th quarter > General government debt relative to GDP was 61.4 per cent at the end of 2017

Published: 16 March 2018

General government debt relative to GDP was 61.4 per cent at the end of 2017

General government EDP debt, or consolidated gross debt at nominal prices, amounted to EUR 137.3 billion at the end of 2017. According to the initial preliminary data, the ratio of debt to GDP was 61.4 per cent. General government debt increased by a total of EUR 1.2 billion from the previous year. These data derive from Statistics Finland's statistics on general government debt by quarter.

General government debt by quarter

According to the initial preliminary data, central government debt increased by EUR 1.3 billion during the year, and the local government sector's debt by EUR 0.2 billion. In addition, social security funds’ debt increased in total by EUR 0.5 billion.

During the last quarter of the year, general government debt grew by EUR 3.2 billion. Central government debt increased by EUR 3.0 billion in October to December and totalled EUR 117 billion at the end of the quarter. The local government sector's debt decreased by EUR 0.3 billion and was EUR 19.8 billion at year end. In addition, social security funds’ short-term loans grew by EUR 0.6 billion due to the growing stock of received cash collateral related to employment pension schemes' financial derivative contracts and securities lending.

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 countries by the European Financial Stability Facility EFSF, received cash collateral related to financial derivative contracts and securities lending, the capital of the Nuclear Waste Management Fund, debt 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 the 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 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 tables

• Appendix table 1. General government debt by quarter, EUR billion (16.3.2018)
• Appendix table 2. Central government guarantees, EUR million (16.3.2018)

Revisions in these statistics

• Revisions in these statistics (16.3.2018)

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Updated 16.3.2018