Home > Statistics > General government financial accounts > 2016 > 1st quarter > Government sector’s net financial assets declined slightly in the first quarter of 2016

Published: 30 June 2016

Government sector’s net financial assets declined slightly in the first quarter of 2016

At the end of the first quarter of 2016, general government's net financial assets, i.e. difference between their assets and liabilities, amounted to EUR 110.1 billion. During the quarter, the net financial assets of central government decreased in total by EUR 3.0 billion. In turn, the net financial assets of local government grew by EUR 1.2 billion. The net financial assets of employment pension schemes and social security funds fell by EUR 2.2 billion. In total, general government's net financial assets went down by EUR 4.0 billion. These data derive from general government financial accounts compiled by Statistics Finland.

General government’s net financial assets

Central government's net financial assets fell by EUR 3.0 billion from the previous quarter's level, being EUR -66.4 billion at the end of the quarter. Both central government assets and liabilities grew during the quarter. Of assets, deposits were growing and of liabilities, long-term bonds.

Local government's net financial assets rose by EUR 1.2 billion. Their rise was affected by the growth in deposits, for example.

Employment pension schemes' net financial assets stood at EUR 176.9 billion at the end of the period. Financial assets amounted to EUR 182.1 billion. Most of the financial assets were in fund shares and bonds. In this quarter, a new, more detailed inquiry on the investment assets of employment pension schemes was used for the compilation of the statistics. However, most of the changes are classification changes inside items. Data on preceding quarters have not yet been updated in all respects correspondingly.

Other social security funds' lending increased considerably over the past few years. Now the growth in liabilities has halted. Assets have also been on the rise and the net financial assets of other social security funds has gone up by EUR 0.8 billion, being EUR 2.0 billion at the end of the period.

Source: General government financial accounts, Statistics Finland

Inquiries: Riikka Tupala 029 551 3349, Timo Ristimäki 029 551 2324, rahoitus.tilinpito@stat.fi

Director in charge: Ville Vertanen

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Appendix tables

• Appendix table 1. General government financial assets, liabilities and net assets, EUR billion (30.6.2016)

Figures

• Appendix figure 1. Shares and other equity held by employment pension schemes (30.6.2016)
• Appendix figure 2. Financial assets of central government (30.6.2016)

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Updated 30.06.2016