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Home BUSINESSGeneral govt debt grows by EUR 4.6 billion
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Tue, 01 Apr, 2014 12:03:41 AM
FTimes Report, April 1
 
General government debt by quarter. Source: Statistics Finland.
The general government EDP debt or consolidated debt at nominal prices grew by EUR 4.6 billion in the last quarter of 2013 and stood at EUR 110.2 billion at the end of the year.
 
According to the Statistics Finland’s data on general government debt by quarter, general government debt has increased by a total of EUR 7 billion compared with the respective period of the year before. 
 
 During the last quarter of 2013, central government debt grew by EUR 3.6 billion, and stood at EUR 98.9 billion at the end of the quarter.
 
The stock of central government's bonds grew by EUR 2.6 billion, the stock of money market instruments by EUR 1 billion, and the stock of long-term loans by EUR 0.2 billion. 
 
Deposit liabilities and short-term loans decreased by a total of EUR 0.2 billion.  
 
Besides, the local government debt, that is, the debt of municipalities and joint municipal boards, rose by EUR 0.9 billion in the last quarter, mainly as a result of a growing stock of long-term loans. 
 
At the end of 2013, local government debt amounted to EUR 15.8 billion. The central government sector's EDP debt has been slightly revised for 2009 to 2012 due to Eurostat's instructions to record the EU Commission's deposits as deposit liabilities. Previously, they were recorded in the other debts item that is not included in EDP debt.
 
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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