Economic Policy Challenges in Coming Years
The rapid ageing of the Finnish population will be creating major demands on economic policy already in the medium term. Thus, to safeguard a high standard of welfare determined action must be taken to boost growth, employment and public finances.
By securing a surplus in central government finances we can clearly reduce government debt and debt interest payments. This creates room for manoeuvre in government finances and ensures
that pension security and public welfare services are not jeopardised, and that it will be possible to cope with periods of slow growth and other unanticipated disturbances in the economy. To support favourable income developments in coming years, it is vital that economic growth remains sustainable. In order to achieve this, existing labour reserves must be taken into more effective use, education and competence need to be fostered and entrepreneurship and innovation must be promoted. Further measures are called for in order to bolster and reform the pension schemes, to enhance the conditions for private service production and to improve the quality and efficiency of public services.
These are the main conclusions reached in the Ministry of Finance publication "Economic Policy Challenges in Coming Years". The report examines future economic policy issues by means of scenarios extending far into the future and offers groundwork for addressing these questions. The working paper that this publication draws on was handed to Government in connection with the negotiations over central government spending limits held in March.
Inquiries: Mr Johnny Åkerholm, Under-Secretary of State, tel. +358 - (0)9 - 160 3091 and
Mr Tuomas Sukselainen, Director, Structural Policy Unit, tel. +358 - (0)9 - 160 3191