The International Monetary Fund (IMF) published its concluding statement on the Finnish economy on Friday 8 November. According to the IMF, Finland’s economy has started to recover from recession. Moderate growth of 1.6% is projected for the economy in 2025, and growth of slightly below 1½% in the medium term. Finland’s economic outlook is nevertheless subject to downside external risks, including the impact of Russia’s war in Ukraine.
The IMF advises that Finland’s policy actions should prioritize fostering economic growth and reinforcing the economy. Its policy recommendations focus on fiscal consolidation, reversing the debt trajectory, and implementing measures to boost labor force participation and reduce obstacles to business growth.
The concluding statement provides a more detailed examination of the economic outlook and risks, government finances, productivity growth, financial markets, and other related areas.
The statement is part of the IMF’s country monitoring process.
The IMF regularly monitors the economic health of its member countries. Each year, IMF staff conduct visits to each country, engaging in extensive discussions with various relevant parties. At the conclusion of these Article IV consultations, a concluding statement is released, summarizing the IMF staff’s preliminary findings. A more comprehensive report on the country’s economy follows at a later stage.
The IMF’s concluding statement reflects discussions held with Finnish authorities and representatives from social partners, private financial institutions, research institutes, and other pertinent stakeholders. The assessments and conclusions expressed in the statement are those of the IMF staff. The Bank of Finland provides unofficial translations into Finnish and Swedish of an IMF-prepared summary of the concluding statement.
The full concluding statement can be found on page Finland of the IMF website.
Read next:
- HeidiHalonen.fi – A Finnish blog about the life of a digital mom. Collaboration opportunities are also available on the site.
- Chinese economic growth expected to slow further in 2024–2026
- Work-based migration to Finland higher than before COVID
