General government debt and deficit
| Updated: 28.3.2013 - Next update: 30.9.2013 |
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Preliminary data released on general government deficit in 2012 changed only slightly when revised
According to Statistics Finland's preliminary data the general government deficit data were only revised a little compared to data released in early March. The revision was based on up-to-date data of the central government on the tax revenue and interests accumulated in 2012, due to which the deficit decreased by EUR 52 million. Data on general government debt did not change in this connection. The figures derive from the data reported by Statistics Finland to Eurostat.
During 2012, consolidated general government EDP debt,or consolidated gross debt, grew by EUR 10.3 billion to EUR 103.1 billion. The GDP share of the debt rose from the previous years 49 per cent to 53 per cent. General government deficit relative to GDP went up to 1.9 per cent from the previous year's 0.8 per cent. According to the preliminary data, public deficit and debt remained below the reference values of the European Unions Growth and Stability Pact
In 2012, the financial position of general government was EUR 3.7 billion in deficit. The central government sector's deficit grew by EUR 0.9 billion to EUR 6.6 billion. The development was affected by the slowdown in the increase in tax accruals and the growth in current transfers paid. The local government sector's deficit grew by EUR 1.0 billion to EUR 2.1 billion. Even though the expenditure of the local government sector grew more slowly than in the previous year, the financial position was weakened by clearly slower growth in tax revenue and received income transfers compared to the year before. Employment pension funds and other social security funds accumulated a surplus of EUR 5.1 billion.
Statistical releaseSource:
Statistics Finland / General government deficit and debt
Description of indicator
These statistics contain data on the deficit and debt of government finance
in Finland. Twice yearly the Member States of the European Union report data on
their so-called EDP deficits and debts to the EU Commission. The data are used
in the context of the EU’s Stability and Growth Pact to assess the state of
government finances in the Member States. The reporting is a constituent part of
what is known as the Excessive Deficit Procedure (EDP).
The reported data are
produced in compliance with the European System of Accounts (ESA 1995) and a
separate EU Regulation. The data reported by the different Member States are
comparable with each other.
