Bank of Finland articles on the economy
Bank of Finland Bulletin 5/2019 - Economic forecast for the Finnish economy
Published 17 Dec 2019
pdf, 2.46 MB
Bank of Finland Bulletin 4/2019 - Economic outlook for the global economy
Published 3 Oct 2019
pdf, 3.44 MB
Finland's economic transition still incomplete17 December 2019, Bank of Finland Bulletin 5/2019
The Finnish economy is still going through a period of transition in which it has to adjust to two large structural realignments.
How can we avoid a negative equilibrium of low gorwth and low inflation?3 October 2019, Bank of Finland Bulletin 4/2019
Slower-than-target inflation and a persistent decline in inflation expectations are key challenges for monetary policy. A negative equilibrium of prolonged low inflation and zero interest rates would fundamentally weaken monetary policy’s room for manoeuvre in balancing fluctuations in the economic cycle.
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File size and format – pdf, 2.46 MB
The Bank of Finland estimate puts the sustainability gap in Finland’s public finances at 4.7%. If public expenditures over the long term continue to be larger than revenues, public debt will eventually begin to grow out of control.
Global uncertainties are weakening investment growth in Finland. A similar effect is being exerted by structural factors in the domestic economy.
Finland’s economic boom is over and growth will slow temporarily, in step with global developments. The foundations for continued growth are, however, still in place. Monetary policy continues to be accommodative, and households’ purchasing power is growing.
The alternative scenario attached to the forecast for the Finnish economy analyses what implications a delay in the recovery of the global economy would have for the Finnish economy.
Fiscal buffers should be accumulated when the economic situation is relatively bright. This would help to reduce the sustainability gap in the public finances and improve readiness for future recessions.
Finland’s annual economic growth will slow temporarily. The difficulties in the global economy will also affect Finland. The prerequisites for growth are, however, still in place. See our accessible summary.
See forecast tables for the Finnish economy in 2019–2022 (Dec 2019).
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