From targets to actions : assessment of public finances

Abstract

The level of general government debt in Finland will continue to rise in the immediate years ahead. Policymakers, in their determination of fiscal consolidation measures, will be guided in the coming years by the Finnish legislation on a national fiscal framework and by the EU’s fiscal rules, but expenditure pressures will make this difficult in conditions of subdued economic growth. Sustained efforts will nevertheless produce results if resolute action is taken to achieve the targets while strengthening the economy’s growth potential.