Finland (The Call for Innovative and Open Government: An Overview of Country Initiatives)

The deep recession and the sharp weakening of general government finances caused by it have fundamentally changed the bases of the Finnish fiscal policy. General government finances are in a more vulnerable position from which to meet expenditure pressures caused by the ageing of the population and a restricting tax base. Ensuring the sustainability of public finances now represents a bigger challenge. In the next few years it will be essential in economic policy to implement a post-recession exit strategy in which measures supporting growth are combined with adjustment measures in general government finances. In fiscal policy, a strategy and measures to strengthen the long-term sustainability of public finances are required. It has been estimated that although general government finances will continue to improve over the years ahead on the back of economic recovery, it is expected that without new measures to stimulate growth and consolidate public finances, they will remain firmly in deficit in 2014.
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Published by OECD in 2011