Home > Statistics > General government debt by quarter > 2018 > 3rd quarter > General government debt decreased by EUR 0.3 billion in the third quarter of 2018

Published: 21 December 2018

General government debt decreased by EUR 0.3 billion in the third quarter of 2018

General government EDP debt, or consolidated gross debt at nominal prices amounted to EUR 135.7 billion at the end of the third quarter of 2018 and decreased by EUR 0.3 billion during the third quarter. Correspondingly, general government debt has grown by EUR 1.2 billion compared with the respective period of the year before. These data derive from Statistics Finland's statistics on general government debt by quarter.

General government debt by quarter

During the third quarter, central government debt decreased by EUR 0.5 billion and was EUR 115.0 billion at the end of the quarter. The number of short-term debt instruments with a maturity of under one year increased on net by EUR two billion over the third quarter. The stock of bonds decreased by EUR 2.4 billion over the same period. The stock of long-term loans remained almost on level with the previous quarter, but the stock of short-term loans decreased by EUR 0.4 billion. In addition, the amount of cash deposits increased by EUR 0.2 billion.

The local government sector's debt decreased by EUR 0.1 billion and totalled EUR 19.8 billion at the end of the quarter. The number of short-term debt instruments decreased, but the stock of other debt instruments remained almost on level with the previous quarter. In addition, social security funds’ debt grew by EUR 0.3 billion and totalled EUR 2.3 billion at the end of the quarter. The debt grew mainly due to the increase in cash collateral received in connection with employment pension schemes' 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 sub-sectors.

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 also includes loans granted to beneficiary counties by the European Financial Stability Facility EFSF, received cash collaterals 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 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: Henna Laasonen 029 551 3303, Olli-Pekka Aaltonen 029 551 3090, 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 (21.12.2018)
• Appendix table 2. Central government guarantees, EUR million (21.12.2018)

Revisions in these statistics

• Revisions in these statistics (21.12.2018)

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Updated 21.12.2018