Govt’s financial position declines by €5.3b in Q2

The consolidated to total revenue of general government decreased by EUR 2.8 billion in the second quarter of 2020 compared to that in the corresponding quarter of the previous year, according to the Statistics Finland.

The consolidated total expenditure increased by EUR 2.5 billion from that in the previous year’s corresponding quarter.

The difference between revenue and expenditure, that is, the net borrowing of general government rose by EUR 5.3 billion.

The total revenue in the second quarter decreased by 4.6 per cent year on year, while the total expenditure grew by 5.0 per cent.

In the second quarter of 2020, the general government deficit (net borrowing) stood at EUR 3.7 billion.