HELSINKI: The general government’s net financial assets amounted to EUR 110.1 billion at the end of the first quarter of 2016, according to Statistics Finland. During the quarter, the central government’s net financial asset, i.e. difference between their assets and liabilities went down in total by EUR 3.0 billion. In turn, the net financial assets of local government grew by EUR 1.2 billion.
The net financial assets of employment pension schemes and social security funds fell by EUR 2.2 billion, the data derived from general government financial accounts show. In total, general government’s net financial assets went down by EUR 4.0 billion. The central government’s net financial assets fell by EUR 3.0 billion from the previous quarter’s level, being EUR -66.4 billion at the end of the quarter.
Both central government assets and liabilities grew during the quarter. Of assets, deposits were growing and of liabilities, long-term bonds. The local government’s net financial assets rose by EUR 1.2 billion. Their rise was affected by the growth in deposits, for example.
Employment pension schemes’ net financial assets stood at EUR 176.9 billion at the end of the period. The financial assets amounted to EUR 182.1 billion. Most of the financial assets were in fund shares and bonds. Other social security funds’ lending increased considerably over the past few years. The growth in liabilities has now halted as per the statistics. Assets have also been on the rise and the net financial assets of other social security funds has gone up by EUR 0.8 billion, being EUR 2.0 billion at the end of the period.
