
Gross debt in Finland
General government debt of Finland refers to the debts of the state, their states and municipalities, and also of public sector institutions such as social security funds.The government debt in the period from 2000 to 2021 was between 53.0 billion and 196.8 billion USD. The highest level of the last years at 197 billion US Dollar was reached in 2021. The budget deficit in the same year was 8.2 billion USD.
Based on the number of inhabitants, this is a debt of 35,512 USD per person. For comparison, the average debt per person in the same year in the European Union was 35,341 USD.
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Gross debt of the last 21 years in billion USD
This is how much debt Finland can afford
In accordance with the Maastricht Treaty, government debt in Finland is aggregated for the federal, state and local governments as well as state institutions, and therefore includes the debt of all public budgets. As it is gross debt, the government's assets are not deducted. According to the EU convergence criteria, each EU country must meet certain requirements. For the debt budget, these two conditions in particular are decisive:- Consolidated gross debt may not exceed 60% of gross domestic product (GDP).
- The budget deficit, i.e. new annual debt, may not exceed 3% of GDP.
At the end of 2021, the debt of all EU countries averaged 92 percent.
Year | Finland total | % of GDP | per capita | EU per capita |
---|---|---|---|---|
2000 | 53.47 bn USD | 42.43% | 10,330 USD | 10,328 USD |
2001 | 52.97 bn USD | 40.89% | 10,210 USD | 10,404 USD |
2002 | 56.32 bn USD | 40.12% | 10,830 USD | 11,368 USD |
2003 | 73.27 bn USD | 42.69% | 14,056 USD | 14,148 USD |
2004 | 84.07 bn USD | 42.57% | 16,081 USD | 16,162 USD |
2005 | 81.68 bn USD | 39.86% | 15,569 USD | 16,918 USD |
2006 | 82.49 bn USD | 38.00% | 15,663 USD | 17,549 USD |
2007 | 86.92 bn USD | 33.90% | 16,435 USD | 19,574 USD |
2008 | 93.03 bn USD | 32.56% | 17,509 USD | 22,721 USD |
2009 | 105.28 bn USD | 41.53% | 19,720 USD | 23,701 USD |
2010 | 116.99 bn USD | 46.90% | 21,813 USD | 25,145 USD |
2011 | 133.04 bn USD | 48.27% | 24,690 USD | 28,417 USD |
2012 | 138.50 bn USD | 53.62% | 25,582 USD | 27,784 USD |
2013 | 152.58 bn USD | 56.23% | 28,054 USD | 30,021 USD |
2014 | 164.44 bn USD | 59.83% | 30,109 USD | 30,832 USD |
2015 | 149.26 bn USD | 63.64% | 27,240 USD | 26,170 USD |
2016 | 152.11 bn USD | 63.18% | 27,680 USD | 26,655 USD |
2017 | 156.37 bn USD | 61.17% | 28,389 USD | 27,535 USD |
2018 | 164.82 bn USD | 59.78% | 29,883 USD | 29,172 USD |
2019 | 160.02 bn USD | 59.59% | 28,980 USD | 27,927 USD |
2020 | 187.57 bn USD | 68.99% | 33,922 USD | 32,227 USD |
2021 | 196.77 bn USD | 66.19% | 35,512 USD | 35,341 USD |
Comparison of gross debt per capita with the European Union in U.S. dollars
Budget deficit in Finland

The budget balance in Finland in the period between 1998 and 2022 varied between -15.17 billion euros and +13.13 billion euros. In 2022, Finland reached a balance of -2 billion euros.
In ratio to population, this equals a new indebtedness of 435 euros per capita in Finland in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.
Budget deficit and surplus in the last 24 years
Year | Finland total | % of GDP | per capita | EU per capita |
---|---|---|---|---|
1998 | 2.05 bn USD | 1.53% | 397 USD | -398 USD |
1999 | 2.08 bn USD | 1.54% | 403 USD | -204 USD |
2000 | 8.48 bn USD | 6.73% | 1,638 USD | 112 USD |
2001 | 6.39 bn USD | 4.94% | 1,232 USD | -299 USD |
2002 | 5.67 bn USD | 4.04% | 1,089 USD | -565 USD |
2003 | 4.36 bn USD | 2.54% | 837 USD | -840 USD |
2004 | 4.36 bn USD | 2.21% | 833 USD | -920 USD |
2005 | 5.30 bn USD | 2.59% | 1,011 USD | -822 USD |
2006 | 8.52 bn USD | 3.92% | 1,618 USD | -568 USD |
2007 | 13.13 bn USD | 5.12% | 2,482 USD | -360 USD |
2008 | 11.93 bn USD | 4.18% | 2,246 USD | -1,085 USD |
2009 | -6.30 bn USD | -2.48% | -1,180 USD | -2,021 USD |
2010 | -6.32 bn USD | -2.53% | -1,178 USD | -1,970 USD |
2011 | -2.81 bn USD | -1.02% | -521 USD | -1,463 USD |
2012 | -5.57 bn USD | -2.16% | -1,029 USD | -1,220 USD |
2013 | -6.85 bn USD | -2.52% | -1,260 USD | -1,027 USD |
2014 | -8.21 bn USD | -2.99% | -1,504 USD | -851 USD |
2015 | -5.69 bn USD | -2.43% | -1,038 USD | -574 USD |
2016 | -4.09 bn USD | -1.70% | -744 USD | -421 USD |
2017 | -1.67 bn USD | -0.65% | -304 USD | -263 USD |
2018 | -2.36 bn USD | -0.85% | -427 USD | -134 USD |
2019 | -2.55 bn USD | -0.95% | -461 USD | -191 USD |
2020 | -15.17 bn USD | -5.58% | -2,744 USD | -2,317 USD |
2021 | -8.20 bn USD | -2.76% | -1,480 USD | -1,852 USD |
2022 | -2.41 bn USD | -435 USD | -1,254 USD |
(negative numbers = deficit)