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Finnish revenue grows by €0.2b in Q1 of 2015

Finnish revenue grows by €0.2b in Q1 of 2015

HELSINKI: Consolidated total general government revenue grew by euro 0.2 billion in the first quarter of 2015 compared to the corresponding quarter of the previous year.

Correspondingly, consolidated expenditure decreased by euro 0.1 billion, according to the Statistics Finland’s data. The deficit of general government, therefore, decreased by euro 0.3 billion. Total revenue decreased by 1.1 per cent from the previous quarter while the total expenditure fell by 0.6 per cent from the previous quarteIn the first quarter of 2015, the general government deficit stood at euro 0.9 billion as per the data on general government revenue and expenditure by quarter. General government is comprised of central government, local government and social security funds.

In the first quarter, central government’s total revenue amounted to euro 12.2 billion and total expenditure was euro 14.1 billion. Central government’s total revenue went up by 1.2 per cent from the respective quarter of the year before. Correspondingly, total expenditure decreased by 4.2 per cent. The difference between revenue and expenditure, that is, the net borrowing of the central government went down by euro 0.8 billion.

The deficit totalled euro 1.8 billion.