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To achieve long-term sustainable growth and preserve the country’s comprehensive welfare state arrangements in the face of demographic ageing, Finland has to implement forcefully a series of structural reforms as presented in this brochure.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
The Finnish economy has still not recovered from the sharp 2008-09 recession and productivity performance has weakened. Structural reforms aiming at increasing productivity in the private and public sector therefore need to move up the agenda according to the latest Economic Survey of Finland.&l
The world economy is recovering, but many challenges remain to eliminate global imbalances. Countries must address the crucial question of capital movements while deepening their commitment to structural reforms, according to OECD Secretary-General Angel Gurría.
Maintaining high participation and employment in the face of the recent recession and a rapidly ageing population are major challenges for policy makers in Finland.
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The worldwide recession hit Finland harder than most other OECD countries. Export volumes fell by almost a third from their mid-2008 peak, reflecting the dominance of income-sensitive capital goods and exceptional exposure to hard hit markets such as the Russian Federation. The well supervised and prudent financial sector has weathered the crisis well, although there was some inevitable slowing in credit growth. A significant fiscal
Finland was badly affected by the global recession and fiscal sustainability is threatened. Restraining spending growth in municipalities and pursuing retirement and labour market reforms would improve the fiscal outlook. Measures to combat misuse of the tax system would mitigate rising inequali
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This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.
Economic forecasts for GDP, unemployment, inflation and fiscal balance.
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External links to: recent economic data; current interest rates and exchange rates; latest macroeconomic reports; current outlook and projections; government budget information; speeches; relevant sites.