🇫🇮 Finland
Public Sector Debt · 2026
Total Debt
86.6%
of GDP
Global Rank
#41
of 192
S&P Rating
AA+
Credit rating
SOE Debt
+4.1%
3 categories
5yr Change
+13pp
rising
Where the Debt Sits
Central Government
Central Government: 82.5%Dev Banks: 0.1%Energy SOEs: 3.2%Infrastructure: 0.8%
Who Holds This Debt
Holder Breakdown
Domestic 40%
Foreign 60%
Domestic: 40%Foreign: 60%
Currency Denomination
Local 100%
Local currency: 100%Foreign currency: 0%
Full Debt Breakdown
Central Government82.5% of GDP
Central GovernmentEurostat — Government Debt (Maastricht)
82.5%Energy SOEs3.2% of GDP
Fortum (energy)Fortum Annual Report 2024EUR 4.8B liabilities. 51% state
1.7%Neste (refining, partial)Neste Annual Report 2024EUR 4.2B net debt. 36% state
1.5%Infrastructure SOEs0.8% of GDP
FinnairFinnair financials56% state-owned
0.5%VR Group (railways)VR Annual ReportState railways
0.3%Development Banks0.1% of GDP
Tesi (Finnish Industry Investment)Tesi financialsState investment company
0.1%Total Corporate Debt114.9% of GDP
Nonfinancial corporate debtBIS/FRED Q3 2025
114.9%Household Debt63.2% of GDP
Household debtBIS Credit Statistics Q3 2025Moderate.
63.2%Unfunded Pension Liabilities200.0% of GDP
Public pension unfunded (net of funded reserves)Statistics Finland, Eurostat Table 29 (2021)Total entitlements ~330% GDP. Finland partially pre-funds earnings-related pensions (~130% GDP in reserves). Net unfunded ~200%.
200.0%All Layers Total464.7%
Credit Ratings
S&P
AA+
Moody's
Aa1
Fitch
AA+
Data Sources
Eurostat — Government Debt (Maastricht)general_government · Updated semi_annual
Dec 202482.5% GDP
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