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Finland was among the most affected OECD countries during the crisis as demand for its mainly capital–goods intensive exports collapsed. The financial sector weathered the shock well, but credit contracted, reflecting both demand and supply factors.
The costs of the recession and ageing are a challenge to fiscal sustainability. The estimated fiscal sustainability gap has increased from 3 to 8% of GDP due to a sizeable permanent stimulus and lower potential output. A consolidation plan should be articulated now...
Income distribution remains among the most equitable in the OECD although disparities have widened over the decade. While the tax and transfer system has been effective in reducing income inequality, changes to the income tax system in the early 1990s have contributed to rising disparities.
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Cayman Islands signs tax information exchange agreement with Finland
The Cayman Islands has signed bilateral agreements with seven Nordic economies - Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden - on exchange of information for tax purposes.
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Techniques for assessing economic, social and environmental impacts and integrating sustainability assessments into policy-making and national strategies were discussed at a Finnish workshop on 11 February 2009.
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This note, taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2009, contains information about the progress in implementing reforms in line with the 2008 priorities for Finland.
Marking 40 years of Finnish membership to the OECD, Secretary-General Gurría underlined that Finland has been crucial in supporting OECD work from development aid, environmental sustainability, effective and efficient government, employment policies to social cohesion enabling the OECD to build a more balanced and inclusive globalised world.
The crisis has shown the vulnerability of a global economy based on the idea that ever increasing production and consumption were the key to success, says OECD Secretary-General Angel Gurría.
Angel Gurría was in Helsinki for a two day official visit to attend the Solemn Seminar which marked 40 years of Finnish membership to the OECD. He also met with several government officials, business and trade unions representatives to discuss a range of key policy issues.