Fiscal Balance in Finland
Finland - Fiscal BalanceQuarter-on-quarter economic growth accelerated in Q1 according to a comprehensive GDP release, matching the initial estimate and up from Q4’s reading. The acceleration was due to a sharp increase in government consumption and a large growth contribution from the external sector on higher exports and lower imports. Turning to Q2, economic activity rose annually in April at the fastest pace since March 2018; however, the unemployment rate ticked up. In politics, the Social Democrats recently formed a majority coalition government with the Center Party, the Green Party, the Left Alliance and the Swedish People’s Party. The government pledged to raise public spending by EUR 1.2 billion every year and spend EUR 3 billion in one-off investments over the next four years in a bid to make Finland a carbon neutral country by 2035; extra spending is to be financed by fossil fuel taxes and state asset selloffs.
Finland - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.6||-3.2||-2.8||-1.7||-0.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.03||3.70 %||Jul 11|
|Exchange Rate||8.54||-0.38 %||Jul 11|
|Stock Market||3,952||0.0 %||Jul 11|
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July 16, 2019
Economic activity grew a working-day adjusted 0.8% in May compared to the same month a year earlier, down from April’s substantially revised 1.8% growth reading (previously reported: +2.8% year-on-year).
July 15, 2019
The current account balance swung to a EUR 0.3 billion surplus in May, contrasting the EUR 4.2 billion deficit recorded in April, which represented the lowest reading since contemporary records began in January 2006 due to a massive slump in the primary income balance. In the 12 months leading up to May, the current account balance totaled a EUR 4.0 billion deficit, marking an improvement over the EUR 5.3 billion shortfall in April. The trade balance improved to a EUR 0.2 billion surplus in May, contrasting the EUR 0.2 billion deficit in April.
July 15, 2019
Consumer prices increased 0.1% in June compared to the previous month, contrasting the 0.2% fall registered in May.
June 14, 2019
The current account balance slumped to a EUR 4.2 billion deficit in April, deteriorating from March’s revised EUR 0.24 billion shortfall (previously reported: EUR 0.47 billion deficit) and representing the lowest reading since contemporary records began in January 2006. The main reason for April’s slump was a massive downturn in the primary income account balance, which was itself caused by a strong increase in investment income debits on the back of international company restructurings at the end of last year. In the 12 months leading up to April, the current account balance totaled a EUR 5.3 billion deficit, representing a deterioration from the EUR 1.9 billion shortfall in March. The trade balance fell to a EUR 0.2 billion deficit in April, contrasting the EUR 0.2 billion surplus in March.
June 14, 2019
Consumer prices fell 0.2% in May compared to the previous month, contrasting the 0.6% rise logged in April.