Budget proposal for 2020 submitted to Parliament

Ministry of Finance 7.10.2019 12.07
Press release

The Government has submitted its budget proposal for 2020 to Parliament.

In the budget proposal, revenue is estimated at EUR 55.6 billion and the appropriations proposed amount to EUR 57.6 billion. The budget proposal is EUR 2.0 billion in deficit. The contents of the proposal are summarised in the Ministry’s Budget Review.

The Government also submitted to Parliament its proposal for the third supplementary budget for 2019. The supplementary budget proposes one-off payments totalling EUR 237 million in compensation to municipalities in order to avoid having to duplicate the effect of the holiday bonus cut in making adjustments to the distribution of cost liability. Payment of the compensation will be brought forward from 2020 in order to offset lower than usual municipal tax revenue due to the tax card reform and other circumstances. In addition, the supplementary budget proposes to reduce the tax revenue estimate by EUR 443 million.

The Government also reached agreement on the General Government Fiscal Plan for 2020–2023.

In addition, the Government approved its Stability Programme and Draft Budgetary Plan to be submitted to the EU. These documents are required for economic policy coordination in the EU.

Budget proposal 2020 (in Finnish)

Budget review 2020

Government proposal to Parliament for the third supplementary budget for 2019

General Government Fiscal Plan for 2020–2023 (including the Stability Programme and the Draft Budgetary Plan) (in Finnish)

Information on the European Semester and the common budgetary timeline

All budget material on the Government website (in Finnish)

Inquiries:

Annika Klimenko, Senior Ministerial Adviser, Deputy Director General (budget proposal and General Government Fiscal Plan), tel. +358 2955 30180, annika.klimenko(at)vm.fi

Marketta Henriksson, Senior Ministerial Adviser (Stability Programme) +358 2955 30441, marketta.henriksson(at)vm.fi