Published: 16 December 2011
General government net financial assets, that is, the difference between financial assets and liabilities, diminished significantly during the third quarter of 2011. Net financial assets diminished by a total of EUR 14.2 billion to EUR 102.9 billion.
General government net financial assets
At the end of the third quarter, central government's net financial assets stood at EUR -31.4 billion, having decreased by a total of EUR 6.9 billion during the quarter. Employment pension schemes' and other social security funds' net financial assets stood at EUR 131.9 billion at the end of the quarter, which is EUR 7.7 billion less than at the end of the second quarter. The declines in the net financial assets of central government and social security funds were especially due to strong falls in share prices, which influenced significantly the market values of the shareholdings of pension funds and central government. During the third quarter, employment pension schemes increased their cash deposits by EUR 1.6 billion, as well as investments in short-term promissory notes by EUR 1.0 billion and investments in bonds by EUR 1.3 billion. At the same time, investments in mutual fund shares and quoted shares were reduced by EUR 3.4 billion. No appreciable change from the previous quarter took place in the net financial assets of local government.
Source: General government financial accounts, Statistics Finland
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