{
  "title": "Finland: Staff Report for the 2014 Article IV Consultation",
  "publication": "IMF Staff Country Reports, May 28, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/finland-staff-report-for-the-2014-article-iv-consultation-41584",
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  "summary": "This 2014 Article IV Consultation highlights that Finland’s strong economic record has stalled. The economy has been in recession for three of the last five years, and unemployment is now more than 8 percent, with more people without work for longer.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Finland’s strong economic record has stalled.\n- The economy has been in recession for three of the last five years.\n- Unemployment is now more than 8 percent, with more people without work for longer.\n- The shortfall in growth, occurring while peer economies saw GDP improve and unemployment fall, points to deeper structural problems.\n- Exports suffered from the continued decline of the information and communications technology industry and falling demand for paper and pulp."
    },
    {
      "heading": "Economic conditions and labor market",
      "content": "- Recessions in 3 of the last 5 years.\n- Unemployment: more than 8 percent.\n- Longer durations of unemployment noted (more people without work for longer)."
    },
    {
      "heading": "External sector and exports",
      "content": "- Continued decline in the information and communications technology industry affected export performance.\n- Falling demand for paper and pulp contributed to export weakness."
    },
    {
      "heading": "Outlook and risks",
      "content": "- Outlook: slow and fragile recovery.\n- Downside risk: weaker external demand could easily derail the upswing."
    },
    {
      "heading": "Policy implications and analysis emphasis",
      "content": "- The shortfall in growth relative to peers highlights the presence of deeper structural problems that need to be addressed to restore stronger and more resilient growth.\n- Policy attention is implied on addressing structural impediments to growth and on measures to support a durable recovery given exposure to external demand shocks.\n\n---\n\n Content in this bundle\n\n- cr14139\n  - cr14139 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr14139 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 28, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498344708.002",
    "Finland’s strong economic record has stalled.",
    "The economy has been in recession for three of the last five years.",
    "Unemployment is now more than 8 percent, with more people without work for longer.",
    "The shortfall in growth, occurring while peer economies saw GDP improve and unemployment fall, points to deeper structural problems.",
    "Exports suffered from the continued decline of the information and communications technology industry and falling demand for paper and pulp.",
    "Recessions in 3 of the last 5 years.",
    "Unemployment: more than 8 percent.",
    "Longer durations of unemployment noted (more people without work for longer).",
    "Continued decline in the information and communications technology industry affected export performance.",
    "Falling demand for paper and pulp contributed to export weakness.",
    "Outlook: slow and fragile recovery.",
    "Downside risk: weaker external demand could easily derail the upswing.",
    "The shortfall in growth relative to peers highlights the presence of deeper structural problems that need to be addressed to restore stronger and more resilient growth.",
    "Policy attention is implied on addressing structural impediments to growth and on measures to support a durable recovery given exposure to external demand shocks.",
    "**_cr14139**"
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