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Financial position of general government improved by EUR 1.7 billion from the respective quarter of the previous year

Statistics:

General government revenue and expenditure by quarter

Reference period:

2022, 1st quarter

Published:

22/06/2022

Next release:

16/09/2022

Publication type:

release

According to Statistics Finland, consolidated general government revenue grew by EUR 2.1 billion and consolidated expenditure by EUR 0.4 billion in the first quarter of 2022 from the quarter twelve months back. The difference between revenue and expenditure, that is, the net borrowing of general government was EUR 1.3 billion.

Line chart on the development of the trend of general government’s financial position in 1999Q1 to 2022Q1 (EUR billion). General government as a whole showed a surplus until 2008, but it has been in deficit since 2009. In addition to the plunge in 2009, the trend also shows a weakening of the financial position in 2012 to 2014 and in 2019 to 2020. In the latest quarters, the trend of the financial position of general government (as a whole) has been rising. Of the sub-sectors, local government has typically been in deficit and central government in deficit since 2009. Employment pension schemes have shown a surplus. Other social security funds have been either in surplus or in deficit depending on the economic cycle. During the last four quarters, the financial position has seen a trend-like improvement in central government and employment pension schemes, but weakened in local government and slightly in other social security funds.

Key points

The financial position of central government improved from one year back but the seasonally adjusted financial position weakened from the previous
quarter.
The financial position of local government weakened both from one year ago and from the previous quarter.
The financial position of employment pension schemes improved from the quarter twelve months back but seasonally adjusted it weakened from the previous
quarter.
The financial position of other social security funds weakened from one year back but improved from the previous quarter.

Tables

See key statistical data in the tables.

22.06.2022

Change in general government revenue and expenditure 2022Q1

	EUR million	Change of series from previous year, EUR million	Change of series from previous year, %	Change of series from previous quarter, %'
Total Revenue	General Government	Seasonally and working day adjusted	34 719	2 699	8,4	0,8
Original	33 949	2 108	6,6	data missing
Trend	34 540	2 416	7,5	1,3
Central Government	Seasonally and working day adjusted	16 328	1 706	11,7	-1,2
Original	15 335	1 236	8,8	data missing
Trend	16 337	1 567	10,6	1,9
Local Government	Seasonally and working day adjusted	14 604	635	4,5	3,2
Original	15 298	726	5,0	data missing
Trend	14 324	236	1,7	1,5
Employment Pension Schemes	Seasonally and working day adjusted	8 259	730	9,7	0,9
Original	8 278	593	7,7	data missing
Trend	8 298	766	10,2	1,6
Other social security funds	Seasonally and working day adjusted	4 966	-218	-4,2	-0,7
Original	5 159	-291	-5,3	data missing
Trend	5 004	-138	-2,7	-0,8
Consolidation	Seasonally and working day adjusted	-9 438	-154	1,7	0,1
Original	-10 121	-156	1,6	data missing
Trend	-9 423	-15	0,2	1,7
Total Expenditure	General Government	Seasonally and working day adjusted	35 733	535	1,5	2,5
Original	35 234	390	1,1	data missing
Trend	35 373	512	1,5	1,1
Central Government	Seasonally and working day adjusted	17 296	-787	-4,4	0,0
Original	18 060	-620	-3,3	data missing
Trend	17 441	-351	-2,0	0,7
Local Government	Seasonally and working day adjusted	14 903	867	6,2	3,9
Original	14 434	839	6,2	data missing
Trend	14 740	704	5,0	2,5
Employment Pension Schemes	Seasonally and working day adjusted	7 890	715	10,0	5,0
Original	7 712	449	6,2	data missing
Trend	7 462	197	2,7	0,5
Other social security funds	Seasonally and working day adjusted	5 082	-106	-2,0	-0,9
Original	5 149	-122	-2,3	data missing
Trend	5 153	-23	-0,4	0,3
Consolidation	Seasonally and working day adjusted	-9 438	-154	1,7	0,1
Original	-10 121	-156	1,6	data missing
Trend	-9 423	-15	0,2	1,7

Data revisions

See key statistical data in the tables.

22.06.2022

Seasonally adjusted quarter-on-quarter change, %

	1st release (%)	Latest release (%)	Revision, %-points
Total Revenue	2021, 1st Quarter	-1,5	1,2	2,7
2021, 2nd Quarter	0,9	2,0	1,1
2021, 3rd Quarter	0,2	0,9	0,7
2021, 4th Quarter	4,3	3,2	-1,1
Total Expenditure	2021, 1st Quarter	-2,2	-0,5	1,7
2021, 2nd Quarter	0,2	-1,2	-1,4
2021, 3rd Quarter	-0,7	-0,2	0,5
2021, 4th Quarter	-0,6	1,0	1,6

22.06.2022

Year-on-year change, %

	1st release (%)	Latest release (%)	Revision, %-points
Total Revenue	2021, 1st Quarter	3,5	3,3	-0,2
2021, 2nd Quarter	7,7	7,7	0,0
2021, 3rd Quarter	3,5	3,4	-0,1
2021, 4th Quarter	7,9	8,3	0,4
Total Expenditure	2021, 1st Quarter	5,3	8,2	2,9
2021, 2nd Quarter	-0,7	0,0	0,7
2021, 3rd Quarter	-1,1	-0,3	0,8
2021, 4th Quarter	-2,5	-1,0	1,5

Database tables

Database tables related to this release

Updated database tables

11zf

General government revenue and expenditure, quarterly(External link)

Classifications used:

Transaction
Sector

Statistics:

General government revenue and expenditure by quarter

Updated:

22.06.2022

Background information

Documentation

Referencing instructions

Statistical experts

Inquiries primarily

rahoitus.tilinpito@stat.fi

Elina Ikola

Senior Statistician

029 551 3364

Other experts

Head of Department in charge