Timetable for the preparation of the budget proposal:

• Wednesday 3 to Thursday 4 August: Budget session at the Ministry of Finance
• Friday 5 August: The Ministry of Finance will submit its proposal to the Ministries and publish it at budjetti.vm.fi (in Finnish)
• Wednesday 31 August to Thursday 1 September: Government negotiations on the Budget
• Monday 19 September: A debate of the Budget proposal will be held at an extraordinary Ministerial Finance Committee meeting and a government plenary session and the publication at budjetti.vm.fi (in Finnish)

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)

The authorities are creating backup arrangements to secure daily payments in the event that serious disruptions of society or emergency conditions would prevent the use of normal payment systems. The Ministerial Working Group on Preparedness decided to implement backup arrangements.

In future, new housing loans would have to be repaid in a maximum of 30 years. The Government is also proposing limitations on loans to housing companies.

The OEDC published a report on the development of Finland’s anticipatory innovation governance system prepared in cooperation with the Ministry of Finance and the European Commission on 15 June. According to the report, Finland’s anticipatory innovation governance system functions well, but there is room for improvement.