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Finland plans to increase company share sales in 2015
August 7, 2014 / 5:41 PM / 3 years ago

Finland plans to increase company share sales in 2015

HELSINKI, Aug 7 (Reuters) - The Finnish government plans to increase its sale of shares in Finnish companies next year to help bring down its budget deficit, the finance ministry’s blueprint for 2015 budget showed on Thursday.

Finland’s finance ministry has proposed a 2015 budget of 53.4 billion euros with a deficit of 4 billion euros, which would push government debt to 100 billion euros next year.

Details published on Thursday showed that the budget proposal is based on an assumption of 1.164 billion euros in income from the sale of shares owned by the state. It did not name the companies.

That is more than double the 490 million euros budgeted from share sales this year, with the 2014 budget deficit expected to be about 7 billion euros.

The government owns some company shares directly and some through investment vehicle Solidium, which holds 8.3 billion euros worth of stock in listed companies including Sampo and TeliaSonera. (Reporting by Sakari Suoninen; editing by Jane Baird)

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