{
  "title": "Finland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland",
  "publication": "IMF Staff Country Reports, January 21, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/01/18/finland-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-561042",
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  "summary": "The 2024 Article IV Consultation discusses that the Finnish economy is recovering from the 2023 recession, supported by easing inflation and real wage growth. Falling energy prices and weak domestic demand have temporarily reduced inflation below 2 percent.",
  "sections": [
    {
      "heading": "Macroeconomic outlook and inflation",
      "content": "- The Finnish economy is recovering from the 2023 recession.\n- Recovery is supported by easing inflation and real wage growth.\n- Falling energy prices and weak domestic demand have temporarily reduced inflation below 2 percent.\n- The economic recovery is expected to gain momentum in 2025.\n- Downside risks, especially from abroad, remain elevated."
    },
    {
      "heading": "Fiscal position and public debt",
      "content": "- The economic downturn and increases in expenditure are expected to drive the fiscal deficit to 3.7 percent in 2024.\n- The fiscal deficit increase is expected to further increase public debt."
    },
    {
      "heading": "Financial sector resilience",
      "content": "- Banks are well capitalized and have sufficient liquidity to withstand all but the most severe shocks."
    },
    {
      "heading": "Labor market, participation, and skills",
      "content": "- Ambitious labor market reforms initiated in 2023 will continue to support employment as the economy recovers.\n- Potential policy priorities:\n  - Increase participation rates further.\n  - Strengthen educational outcomes.\n  - Attract more high-skilled talent from abroad."
    },
    {
      "heading": "Structural reforms and productivity",
      "content": "- Finland performs well on many business and innovation metrics, but deeper structural reforms are needed to raise productivity growth.\n- Areas highlighted for attention:\n  - Increasing the availability of risk capital.\n  - Reducing barriers to entry into the services sector.\n  - Continuing to pursue the deepening of the EU’s single market."
    },
    {
      "heading": "Publication metadata and key statistics",
      "content": "- Subject: Expenditure, Fiscal policy, Fiscal stance, Production, Productivity, Public debt\n- Keywords: Baltics, FIN-FSA favor, Finland's economy, Fiscal stance, Global, Ministry of Finance estimate, population growth boost housing demand, Productivity, R&D expenditure, strengthening growth momentum, transparency policy\n- Pages: 85\n- Volume: 2025\n- Issue: 010\n- Series: Country Report No. 2025/010\n- DOI: https://doi.org/10.5089/9798400299742.002\n- Stock No: 1FINEA2025001\n- ISBN: 9798400299742\n- ISSN: 1934-7685\n- Publication date on landing page: January 21, 2025\n\nFinland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland\n\n---\n\n Content in this bundle\n\n- 1finea2025001-print-pdf\n  - 1finea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1finea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 21, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400299742.002",
    "The Finnish economy is recovering from the 2023 recession.",
    "Recovery is supported by easing inflation and real wage growth.",
    "Falling energy prices and weak domestic demand have temporarily reduced inflation below 2 percent.",
    "The economic recovery is expected to gain momentum in 2025.",
    "Downside risks, especially from abroad, remain elevated.",
    "The economic downturn and increases in expenditure are expected to drive the fiscal deficit to 3.7 percent in 2024.",
    "The fiscal deficit increase is expected to further increase public debt.",
    "Banks are well capitalized and have sufficient liquidity to withstand all but the most severe shocks.",
    "Ambitious labor market reforms initiated in 2023 will continue to support employment as the economy recovers.",
    "Potential policy priorities:",
    "Finland performs well on many business and innovation metrics, but deeper structural reforms are needed to raise productivity growth.",
    "Areas highlighted for attention:",
    "Subject: Expenditure, Fiscal policy, Fiscal stance, Production, Productivity, Public debt",
    "Keywords: Baltics, FIN-FSA favor, Finland's economy, Fiscal stance, Global, Ministry of Finance estimate, population growth boost housing demand, Productivity, R&D expenditure, strengthening growth momentum, transparency policy",
    "Pages: 85",
    "Volume: 2025",
    "Issue: 010",
    "Series: Country Report No. 2025/010",
    "DOI: https://doi.org/10.5089/9798400299742.002",
    "Stock No: 1FINEA2025001",
    "ISBN: 9798400299742",
    "ISSN: 1934-7685",
    "Publication date on landing page: January 21, 2025",
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