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Home BUSINESSGovt debt grows by EUR 2.1 billion in 1st quarter
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Sat, 29 Jun, 2013 04:20:24 AM
FTimes Report, June 29

The general government EDP debt or the consolidated debt at nominal prices has grown by EUR 2.1 billion in the first quarter of 2013 to take the debt to EUR 105.3 billion at the end of the quarter, according to the Statistics Finland.

During the first quarter, central government debt grew by EUR 1.3 billion and the debt was EUR 95.2 billion at the end of the quarter. The growth came mainly from an increase in the stock of bonds issued by central government.

Local government debt, that is, the debt of municipalities and joint municipal boards, rose by EUR 0.6 billion to EUR 14.5 billion by the end of the quarter. Internal general government debt decreased by EUR 0.2 billion during the first quarter.

General government debt by quarter describes general government’s debt to other sectors of the national economy and to the rest of the world, and its development is influenced by changes in both unconsolidated debt and internal general government debts.

Consolidated general government debt is derived by deducting debts between units recorded under general government from unconsolidated gross debt. For this reason, general government debt is smaller than the combined debts of its sub-sectors.

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