Government agrees on supplementary budget: EUR 320 million earmarked for reducing central government debt

16.05.2002  |  Press release

It is estimated that tax revenues will rise by EUR 69 million and other revenues by EUR 496. An increase of EUR 245 million is proposed for additional appropriations. A total of EUR 320 million will be spent on reducing central government debt, with net debt repayments accounting for EUR 163 million. It is proposed that EUR 182 million be used to cover capital losses due to early redemption of loans, which will cut future debt interest payments. Central government debt would thus be reduced by an estimated EUR 764 million during 2002.

Factors contributing to the growth of revenues include an estimated increase of EUR 69 million in taxes withheld at source on interest earned as well as an increase of EUR 170 million in dividend yield. In addition Asset Management Company Arsenal Oy and Kapiteeli Ltd will be returning to the state capital assets worth EUR 103 million. Bank of Finland profits will be entered as revenue at EUR 99 million, the profits of unincorporated state enterprises at EUR 20 million. Because of a realignment of objectives a total of EUR 100 million will be transferred from the National Emergency Supply Fund, with EUR 60 million of this sum now being entered as revenue in the supplementary budget. Revenues from the European Social Fund will increase by EUR 58 million on the previous year on account of delayed payments

For further details, please contact:
Tuomas Sukselainen, Budget Director, tel. +358 9 160 33105,
Hannu Mäkinen, Deputy Budget Director, tel. +358 9 160 33036 or
Helena Tarkka, Senior Advisor Finance, tel. +358 9 160 34876

Language versions

• Hallitus antoi eduskunnalle esityksen vuoden 2002 lisätalousarviosta: Valtionvelan vähentämiseen 320 miljoonaa euroa
  16.05.2002

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