Finland gave the EU more information on its draft budgetary plan
The European Commission requested further information on Finland’s draft budgetary plan for next year. The Ministry of Finance replied to the Commission on Wednesday 16 October.
Finland submitted its draft budgetary plan to the European Commission on 7 October. The plan is based on the Government’s draft budget, the programme for local government finances and this year’s supplementary budgets.
On October 14, Finland received a letter from the Commission, requesting further information on the draft budgetary plan. The Ministry of Finance replied to the Commission on Wednesday 16 October. The Commission will inform Finland this week whether the response is sufficient.
Minister of Finance Mika Lintilä was expecting a letter on the grounds of how Finland’s general government fiscal figures appear in the light of the preventive arm of the Stability and Growth Pact.
“In our estimation, there is no serious breach of the Stability and Growth Pact. The Commission’s request for more information underlines that the Finnish Government must decide on further measures to promote employment, in particular, to achieve a balance in the general government finances by 2023,” says Minister Lintilä.
The European Commission will publish its assessment of the draft budgetary plans of the euro area countries by the end of November.
General Government Fiscal Plan for 2020–2023 (including the Stability Programme and the Draft Budgetary Plan)
Marketta Henriksson, Director, tel. +358 295 530 441, marketta.henriksson(at)vm.fi
Markus Lahtinen, Special Adviser to the Minister of Finance, tel. +358 295 530 417, markus.lahtinen(at)vm.fi