Finland: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland
2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland
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Volume/Issue:
Volume 2022
Issue 025
Publication date: January 2022
ISBN: 9798400201011
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Topics covered in this book
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Labor , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , liability positions vis-à-vis nonresident , money market rate , potential GDP , exchange arrangement , transparency policy , currency of Finland , Employment , COVID-19 , Labor markets , Loans , Global
Summary
With strong policy support, Finland suffered a relatively mild economic contraction in 2020 followed by a swift recovery in 2021. Medium-term growth prospects are less strong, due to adverse demographics and low productivity growth—trends that precede the pandemic. Public debt has increased due to pandemic-related support and will remain on a rising trajectory in the medium term, largely reflecting permanent spending increases.
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