Published: 1 March 2011
According to Statistics Finland's initial preliminary data, during 2010 Finland's general government debt grew by EUR 12.2 billion in EUR 87.2 billion. The GDP share of the debt rose from the previous year’s 43.8 per cent to 48.4 per cent. General government deficit relative to GDP contracted slightly, or to 2.5 per cent from the previous year's 2.6 per cent. According to the preliminary data, public deficit and debt remained below the reference values of the European Union’s Growth and Stability Pact.
Finland's general government deficit (-) and debt, percentage of GDP
In 2010, the financial position of general government was EUR 4.4 billion in deficit. The central government sector's deficit increased by EUR 1.4 billion to EUR 9.2 billion. Paid income transfers went up in particular and the central government's tax revenue turned towards moderate growth during 2010. The local government sector's deficit contracted by EUR 0.6 billion to EUR 0.5 billion, largely due to growth in tax revenue and received current transfers. Employment pension funds accumulated a surplus of EUR 5.2 billion. Paid pensions, received pension contributions and property income all showed growth.
In 2010, general government’s unconsolidated gross debt grew by EUR 11.9 billion from the year before. Central government debt grew by EUR 11.3 billion and local government debt by EUR 0.6 billion. Internal general government debt decreased by some EUR 0.3 billion. The EDP debt describes general government’s debt to the other sectors of the economy and to the rest of the world, and its development is influenced by changes in both the unconsolidated gross debt and the internal general government debt.
The next release from these statistics will be made on 31 March 2011 when Statistics Finland will publish the deficit and debt report compiled in accordance with the Excessive Deficit Procedure (EDP), which must be submitted to the European Commission at the end of March. The data published here may become revised in that connection.
Source: General government deficit and debt. Statistics Finland
Inquiries: Mika Sainio (09) 1734 2686, Mira Lehmuskoski (09) 1734 2708, email@example.com
Director in charge: Ari Tyrkkö
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