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Published: 29 June 2017

Employment pension schemes pushed general government’s net financial assets into growth in the first quarter of 2017

At the end of the first quarter of 2017, general government's net financial assets, i.e. the difference between assets and liabilities, amounted to EUR 118.8 billion. Net financial assets rose by EUR 4.4 billion from the previous quarter. The net financial assets of employment pension schemes and other social security funds grew by a total of EUR 6.1 billion. Local government's net financial assets remained almost unchanged but central government's net financial assets declined by EUR 1.96 billion. These data derive from general government financial accounts compiled by Statistics Finland.

General government’s net financial assets

General government’s net financial assets

Central government's net financial assets fell by EUR 1.96 billion from the previous quarter's level, being EUR -69.3 billion at the end of the quarter. Central government's assets rose by EUR 0.17 billion and liabilities by EUR 2.1 billion, which resulted in a clear decrease in net financial assets. Among central government’s assets, deposits increased by EUR 0.7 billion and long-term loan receivables decreased by EUR 1.5 billion during the first quarter.

At the end of the first quarter of 2017, local government's net financial assets amounted to EUR -3.5 billion. Changes in both liabilities and assets have been moderate. At the end of the first quarter, the stock of long-term loans stood at EUR 16.4 billion. Since the end of 2016, the stock of long-term loans has contracted by EUR 0.2 billion.

Employment pension schemes' net financial assets grew by EUR 5.6 billion in the first quarter of 2017. EUR 1.9 billion more assets were invested in mutual fund shares on net, in addition to which employment pension schemes gained EUR 2.8 billion in holding gains from them. The stock of share investments increased by EUR 1.3 billion mainly thanks to holding gains. The total amount of assets invested in debt securities decreased by EUR 1.3 billion over the quarter and the deposit stock rose by EUR 1.1 billion.

The net financial assets of other social security funds grew by EUR 0.5 billion from the situation at the end of the year and stood at EUR 1.2 billion at the end of the first quarter. The rise was mainly due to the growth in deposits. In addition, the stock of short-term debt securities issued by social security funds diminished.

Source: General government financial accounts, Statistics Finland

Inquiries: Riikka Tupala 029 551 3349, Henna Laasonen 029 551 3303,

Director in charge: Ville Vertanen

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Updated 29.6.2017

Referencing instructions:

Official Statistics of Finland (OSF): General government financial accounts [e-publication].
ISSN=1798-1964. 1st quarter 2017. Helsinki: Statistics Finland [referred: 24.4.2024].
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