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Home NATIONALGeneral govt deficit grows by EUR 0.1 billion in April to June
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Fri, 26 Sep, 2014 12:04:41 AM
FTimes Report, September 26
 
General governments net lending (+) / net borrowing (-), trend. Source: Statistics Finland.
The deficit of general government rose by EUR 0.1 billion as consolidated total general government revenue grew by EUR 144 million in the second quarter of 2014 from the respective quarter of the previous year while consolidated expenditure increased correspondingly by EUR 250 million.
 
According to the Statistics Finland, the difference between revenue and expenditure, that is, the deficit (net borrowing) of general government rose by EUR 0.1 billion. Total revenue decreased by 1.2 per cent from the previous quarter. Total expenditure declined by 1.1 per cent from the previous quarter.
 
In the second quarter of 2014, the general government deficit (net borrowing) stood at EUR 1.2 billion.
 
General government is comprised of central government, local government and social security funds
 
Changes from the respective quarter of the year before Examinations of year-on-year changes are made with figures unadjusted for seasonal variation. In the second quarter, central government's total revenue amounted to EUR 14.1 billion and total expenditure was EUR 14.4 billion.
 
Central government's total revenue went down by 2.3 per cent from the corresponding quarter of the year before.
 
Respectively, total expenditure did not change from the previous year's level. The difference between revenue and expenditure, that is, the deficit (net borrowing) of central government rose by EUR 0.3 billion. The central government deficit totalled EUR 0.3 billion.
 
Local government's total revenue was EUR 12.3 billion in the second quarter. It diminished by EUR 0.1 billion or by 1.1 per cent from the respective quarter of the year before. The revenue items that increased most were income tax, property tax and other direct taxes received, which grew by EUR 0.2 billion or by 3.7 per cent compared to the second quarter of 2013. Local government's total expenditure was EUR 12.1 billion in the second quarter. They decreased by EUR 0.1 billion or by 1.0 per cent.
 
Compensation of employees and other intermediate consumption decreased most among expenditure items. The difference between revenue and expenditure, that is, the surplus (net lending) of local government diminished slightly, being EUR 0.2 billion.
 
The difference between revenue and expenditure, that is, the deficit (net borrowing) of social security funds was EUR 25 million.
 
 
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