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Published: 27 March 2020

General government’s net financial assets increased in the last quarter of 2019

At the end of the fourth quarter of 2019, general government's net financial assets, i.e. the difference between assets and liabilities, amounted to EUR 150.5 billion. Net financial assets grew by EUR 7.2 billion from the previous quarter, mainly due to employment pension schemes' positive holding gains. These data derive from general government financial accounts compiled by Statistics Finland.

General government’s net financial assets

Central government's net financial assets grew by EUR 1.2 billion from the previous quarter's level, being EUR -55.6 billion at the end of the quarter. Assets declined by EUR 4.7 billion, especially as a result of a drop in the stock of transferable deposits. Liabilities decreased by EUR 5.9 billion mainly due to a decline in the stock of debt securities.

The local government sector's net financial assets remained almost unchanged, standing at EUR -7.5 billion at the end of the quarter. Assets grew by EUR 0.7 billion and at the same time liabilities also grew by EUR 0.7 billion. The liabilities stock of short-term and long-term loans was EUR 20.7 billion at the end of the quarter.

Employment pension schemes' net financial assets stood at EUR 210.9 billion at the end of the quarter. Employment pension schemes’ net financial assets grew by EUR 5.6 billion compared to the previous quarter. Holding gains from mutual fund shares amounted to EUR 2.4 billion and their net purchases were EUR 3.1 billion positive. Holding gains were EUR 2.4 billion for shares and equity and the same amount of them were disposed of in net terms.

The net financial assets of other social security funds went up by EUR 0.4 billion during the quarter. The total stock of liabilities contracted by EUR 0.2 billion as the stock of short-term debt securities dropped to zero.

Source: General government financial accounts, Statistics Finland

Inquiries: Olli-Pekka Aaltonen 029 551 3090, Aaro Hottinen 029 551 3231, financial.accounts@stat.fi

Director in charge: Jan Nokkala

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Appendix tables

• Appendix table 1. General government financial assets, liabilities and net assets, EUR billion (27.3.2020)

Figures

• Appendix figure 1. Shares and other equity held by employment pension schemes (27.3.2020)
• Appendix figure 2. Financial assets of central government (27.3.2020)

Revisions in these statistics

• Revisions in these statistics (27.3.2020)

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Updated 27.03.2020