01.04.2011

Finland’s public deficit and debt remain within EU reference values

Finland's general government debt was 48.4% in 2010 and the general government deficit relative to GDP was 2.5%, according to preliminary data from Statistics Finland.

According to Statistics Finland’s preliminary data, the GDP share of Finland's general government debt was 48.4% in 2010. The general government deficit relative to GDP was 2.5%. The data on deficit and debt in 2010 did not change from the initial preliminary data released on 1 March 2011.

Finland’s public deficit and debt has therefore remained below the reference values of the European Union’s Growth and Stability Pact. According to the reference values, the GDP share of general government debt should not exceed 60% and the general government deficit relative to GDP should not exceed 3%.

In 2010, the financial position of general government was EUR 4.4 billion in deficit in Finland. The central government sector’s deficit increased by EUR 1.4 billion to EUR 9.2 billion. Paid current 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 due to growth in tax revenue and received income transfers. Employment pension funds accumulated a surplus of EUR 5.2 billion. Paid pensions, received pension contributions and property income all showed growth.

During 2010, general government debt went up by EUR 12.2 billion to EUR 87.2 billion. Unconsolidated gross debt increased 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.


Source: Statistics Finland