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Home BUSINESSGovt deficit ups by EUR 155m in Q3
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Fri, 18 Dec, 2015 02:02:56 AM
FTimes Report, Dec 18

Consolidated total general government revenue decreased by EUR 43 million in the third quarter of 2015from the respective quarter of the previous year.

Correspondingly, consolidated expenditure increased by EUR 112 million, according to Statistics Finland’s data.

The difference between revenue and expenditure, that is, the deficit rose by EUR 155 million.

The total revenue decreased by 2.3 per cent from the previous quarter while the total expenditure declined by 1.0 per cent.

In the third quarter of 2015, the general government net borrowing stood at EUR 1.5 billion as per the data derived from statistics on general government revenue and expenditure by quarter.

General government is comprised of central government, local government and social security funds.

Examinations of year-on-year changes are made with figures unadjusted for seasonal variation.

In the third quarter, central government's total revenue amounted to EUR 12.0 billion and total expenditure was EUR 13.7 billion.

The central government's total revenue went down by 1.1 per cent from the respective quarter of the year before.

Correspondingly, total expenditure decreased by 1.9 per cent. The deficit or net borrowing went down by EUR 0.1 billion and amounted to EUR 1.7 billion.

Local government's total revenue was EUR 11.6 billion in the third quarter. It went down by 0.4 per cent from the respective quarter of the year before, the statistics show.

The revenue items that grew were income taxes received and other direct taxes.

In turn, both market output and current transfers received decreased among revenue items.

Local government's total expenditure was EUR 12.1 billion in the third quarter. It grew by EUR 0.2 billion or 1.5 per cent.

The expenditure items that grew most were social transfers in kind - purchased market production, intermediate consumption, and gross fixed capital formation.

The difference between revenue and expenditure, that is, the local government deficit (net borrowing) went up from the previous year and amounted to EUR 0.5 billion.

Social security funds include employment pension schemes and other social security funds.

In the third quarter, total revenue of employment pension schemes amounted to EUR 6.7 billion and total expenditure was EUR 6.1 billion.

Other social security funds' total revenue was EUR 4.6 billion.    

The central government's total revenue went down by 3.6 per cent from the previous quarter while its total expenditure fell by 0.1 per cent.

Local government's total revenue was on the same level as in the previous quarter and its total expenditure, in turn, increased by 0.4 per cent.

 
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