The Lisbon Strategy for Growth and Jobs
In March 2008, the European Council initiated the second three-year period of the revised Lisbon Strategy. In March 2009 the European Council confirmed that the present integrated guidelines remain valid and are also applicable in the conditions of the international financial crisis. Moreover, the European Council emphasised that in this economic situation it is important to continue the structural reforms. However, owing to the global financial crisis, the targets set in last year?s programme will take several years longer to meet than originally planned.
The Finnish National Reform Programme has 11 priority areas, which are also the basis of the implementation report endorsed by the Government in October. They are related to economic stability and sustainability in public finances (e.g. pension systems and curbing public spending), structural reforms to foster competitiveness and productivity (e.g. competence and innovations, promoting entrepreneurship), boosting the employment rate and improving the functioning of the labour markets (e.g. lengthening working careers).
In the current economic situation, employment and the resumption of growth have become the main short-term challenges. In the medium term, the challenges are population ageing, climate change and setting the economy on a sustainable growth track. These challenges are closely linked to each other. Measures to resolve one challenge may also promote the achievement of other objectives.
The Government will respond to growing challenges with a wide package of measures to boost the employment rate in the long term and to otherwise strengthen the sustainability of public finances. The Government will also promote productivity growth and will launch a programme to foster conditions for long-term growth. In addition, further measures will be introduced to alleviate the recession?s short-term negative effects on employment.
In addition to national measures, external operating frameworks are also important in terms of economic development. As an export-led economy, Finland needs both an efficient internal market and as unrestricted access as possible to markets outside the EU.
In a policy paper related to the mid-term policy review of the Government Programme, the social dimension of the Lisbon Strategy was highlighted. The goal is to navigate Finland through the recession as intact as possible and to ensure in particular that the burden of the recession is not borne by the weakest in society. This is clearly reflected in Finland?s Lisbon Strategy in terms of the economic policy choices made, such as those in employment policy.
Inquiries: Mr Ilkka Mytty, Financial Counsellor, tel. 358 9 160 34967
Finland National Reform Programme ? Implementation Report 2009