Finland: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Finland.
February 4, 2009
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Finland’s 2008 Article IV Consultation shows that spillovers from the global turmoil are adversely affecting activity and may weaken the financial system. From a cyclical perspective, a fiscal structural loosening is warranted. Its effectiveness in Finland’s small, open economy would be limited in the absence of an EU-wide fiscal package. The authorities have been confident that an EU-coordinated budget expansion is in the works. There has been agreement that loosening should be designed to minimize damage to long-term fiscal sustainability.
Subject: Capital spending, Current spending, Expenditure, Oil prices, Prices, Revenue administration, Tax administration core functions
Keywords: amount equivalent to SDR, Capital spending, CR, Current spending, excl. IMF, Global, IMF staff estimate, ISCR, oil price mechanism, Oil prices, PRGF arrangement, SDR, Tax administration core functions, West Africa, West public finance management mission
Pages:
85
Volume:
2009
DOI:
Issue:
039
Series:
Country Report No. 2009/039
Stock No:
1FINEA2009001
ISBN:
9781451813302
ISSN:
1934-7685
