Assessment of public finances in December 2016
(27.01.2017)
Volyymi
90Numero
5/2016Julkaisija
Bank of Finland
2017
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201701311083Tiivistelmä
Finland's fiscal situation is challenging. The general government deficit is still high, and public debt is on an upward trend. Attainment of more balanced public finances is hampered not only by high unemployment-related and other social security expenditure but also by rapid growth in age-related spending and low economic growth. Therefore, the problems with public finances cannot be explained by cyclical factors alone. Rather, there is a significant and long-term structural problem with Finland's public finances. The public debt problem makes the Finnish economy more vulnerable to global economic disruptions.