Consolidated budget still in surplus

In 2007, adjusted on the basis of the annual financial statements, the surplus of the general government sector consolidated budget was 6.4 billion kroons. The central government sector surplus was 2.6% of the GDP and the surplus of social security funds was 0.6% of the GDP. Inclusion of the Local Governments extra-budgetary foundations in the accounting caused adjustment in the balance of the Local Governments sector’s consolidated budget: the sector’s deficit increased to -0.5 % of the GDP (+0.2%).

The general government gross debt level in 2007 was the lowest within the decade: 3.5% of the GDP. At the same time the central government’s debt level decreased 25% compared to 2006, the borrowing of the local governments sector increased by 9%, constituting over two thirds of the gross debt as before.

General Government consolidated surplus and debt levels, 1995–2007

General Government Sector comprises, in addition to State and Local Government institutional units, the State and Local Governments extra-budgetary funds and foundations, public-legal institutions and non-market producing public enterprises. The General Government sector consolidated budget represents in addition to the balance of revenues and expenditures of the State and Local Governments own budgets also the balance of revenues and expenditures of the State and Local Governments extra-budgetary funds and foundations, public-legal institutions and non-market producing public enterprises budgets.