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Sun, 01 Feb, 2015 12:06:10 AM FTimes Report, Feb 1
The share of social protection in general government expenditure grew in 2013, according to Statistics Finland’s data.
Around 43 per cent of the general government expenditure was spent on social protection in the year. The expenditure directed at old age, of which were mainly pensions, grew most from 2012 as per the data derived from statistics on general government expenditure by function.
The second biggest expenditure items were health, education and general public services.
The expenditure share of general public services and education, however, decreased.
The share of social protection expenditure grew, in particular due to the increase in pension costs.
The share of expenditure directed at old age has grown most in the 2000s, according to the statistics. In 2013, this share had grown almost to 21 per cent.
Public total expenditure amounted to EUR 117 billion in 2013 and the ratio to gross domestic product was 57.8 per cent.
Net expenditure was EUR 101 billion and the ratio to GDP was 50.2 per cent.
Consumption expenditure amounted to EUR 50 billion and the ratio to GDP was 24.8 per cent.
General government is comprised of central government, local government and social security funds. Expenditure grew fastest in social security funds, by 6.4 per cent from the year before.
Social security funds pay a majority of social benefits and allowances, as well as the employment pensions of both the private and public sectors.
The growth in the expenditure of central and local government slowed down from the year before and was slightly over three per cent in both, according to the data.
The second most expenditure was directed at compensation of employees, 25 per cent of total expenditure (20 per cent on wages and salaries), while for purchased services and goods it was around 20 per cent of expenditure, and for investments it was around seven per cent.
Function distribution of general government expenditure in 2013, the function's share of expenditure
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