Is Finland following the same path as Japan?

Finland is now facing problems similar to those with which Japan has already struggled for more than a decade. The population is ageing, and slow economic growth is not generating sufficient funds to cover swelling public expenditure. General government debt threatens to become unsustainable. From the perspective of Finnish economic policy, an examination of the situation in Japan emphasises the importance of structural measures. If decisions on reforming the structures of the economy are postponed far into the future, in the light of Japan’s experiences this may result in reduced growth and employment, with consequent high costs.