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EU finance ministers support Finland’s recovery plan

Ministry of Finance
28.10.2021 13.01
Press release
Minister of Finance Annika Saarikko.

In a video conference held on Thursday 28 October, the EU finance ministers welcomed the assessment of Finland’s Recovery and Resilience Plan. Minister of Finance Annika Saarikko represented Finland in the conference.

“I am pleased with the positive feedback Finland received. Our recovery plan will help us formulate responsible economic policy in which sustainable management of public finances and green investments go hand in hand,” Minister Saarikko says.

The Recovery and Resilience Plan provides an outline on how Finland intends to use funding from the EU’s Recovery and Resilience Facility. The recovery plan includes EUR 2.1 billion in funding for reforms and investments at current prices. The Plan is part of the Sustainable Growth Programme for Finland.

The reforms and investments focus on four priority areas:

  1. Green transition
  2. Digitalisation
  3. Employment and skills
  4. Health and social services

Council to adopt the plan in the next few days

The European Commission published a positive assessment of Finland’s plan on 4 October. Finance ministers discussed the assessment in their video conference, but formally the Council of the European Union will approve the plans with an implementing decision by written procedure within a few days. The implementing decision includes the milestones and targets for Finland’s plan.

After the approval, Finland will receive 13% of the EU funding for the recovery plan, i.e. EUR 271 million at current prices. Parliament has adopted the third supplementary budget, which outlines the use of the funding this year. Next year’s EU funding is included in the Government’s budget proposal. 

Ministries and other organisations announce calls for funding available now and in the future within their respective areas of responsibility.

Inquiries:

Marketta Henriksson, Head of Secretariat for EU Affairs, tel. +358 2955 30441, marketta.henriksson(at)gov.fi
Petra Schulze Steinen, Special Adviser to the Minister of Finance, tel. +358 40 671 7278, petra.schulze-steinen(at)gov.fi

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