IMF publishes Fiscal Transparency Evaluation concerning Finland
The International Monetary Fund (IMF) has published a fiscal transparency evaluation with regard to Finland. Finland’s Ministry of Finance requested this assessment as part of its own development work, the purpose of which is to strengthen and support reporting and control with respect to public finances.
The foundation of the evaluation is the Fiscal Transparency Evaluation tool, which the IMF uses in order to assess fiscal transparency practices in various countries and draw up related indicative recommendations (see http://www.imf.org/external/np/fad/trans/). The evaluation has been performed for nine countries before Finland.
According to the evaluation, Finland's procedures largely correspond to international best practices. The International Monetary Fund nevertheless encourages Finland to present statistics concerning public finances in a format more comprehensive than at present. Additional findings by the IMF were related to clearer goal-setting for fiscal policy and enhanced reporting on the achievement of fiscal objectives. Also, the reporting on fiscal risks is currently fragmented, which impedes the creation of a comprehensive overall picture of fiscal risks.
Financial Policy Coordinator, Director General Jukka Pekkarinen, tel. +358 2955 30169
Financial Counsellor Sami Yläoutinen, tel. +358 2955 30320