Minister of Finance Annika Saarikko’s draft budget for 2023 has been drawn up amidst an uncertain economic outlook. The draft budget totals approximately EUR 79.5 billion with a deficit of around EUR 6.3 billion. Borrowing will decrease by approximately EUR 2.5 billion from the total budgeted for 2022. The proposal will be published in full at budjetti.vm.fi on Friday 5 August.

Finland ranked first in the European Union’s digital performance comparison. The European Commission’s annual Digital Economy and Society Index (DESI) monitors the digital performance of EU Member States and tracks their progress in digitalisation. Finland has been at the top of the list for several years, ranking number two in 2021 and number one in 2019 and 2020.

New intermediate characters indicating the century will be incorporated into personal identity codes starting in 2023. Existing personal identity codes will not be changed by this reform. The new intermediate characters can be used, for example, in personal identity codes issued to foreign nationals moving to Finland to work.

Finland's share of funding from the EU's Recovery and Resilience Facility will decrease to EUR 1.8 billion at current prices, because Finland’s economy has developed better than forecast. Finland will receive a total of EUR 2.6 billion at current prices from the programmes in the EU's recovery plan (NextGenerationEU). The Ministerial Working Group on Sustainable Growth in Finland has outlined how Finland's Recovery and Resilience Plan will be updated to reflect this change.

Accelerating inflation is slowing economic growth. Finland’s gross domestic product will grow by 1.4% this year.

Outlook for economic growth remains subdued (press release 17.6.)
Economic Survey, Summer 2022
Press conference presentation material (in Finnish)
Recording of the press conference
Photos from the press conference (material bank)