Bank of Finland articles on the economy
Bank of Finland Bulletin 5/2018 - Economic forecast for the Finnish economy
Published 10 Jan 2019
pdf, 3.29 MB
Bank of Finland Bulletin 4/2018 - Monetary policy and the global economy
Published 18 Oct 2018
pdf, 5.59 MB
Now is the time to strengthen the public finances and the foundations for productivity growth18 Dec 2018, Bank of Finland Bulletin 5/2018
The euro area’s monetary policy stance is conducive to economic growth and employment in Finland.
Monetary policy normalisation to proceed carefully and with measured pace4 Oct 2018, Bank of Finland Bulletin 4/2018
In times of uncertainty, prudence is justified in the normalisation of monetary policy.
You can search for issues by filtering search data. You can filter articles by issue, by contents theme or by time range.
File size and format – pdf, 3.29 MB
Finnish growth will continue, but at a slower pace than in recent years. There is no returning to the growth rate that preceded the financial crisis.
Rainy-day buffers ought to be strengthened during years of solid growth, so that fiscal space is available for tackling future recessions and other unwelcome surprises.
Weak productivity growth raises domestic production costs and hinders the competiveness of export firms as well as economic growth.
Weak productivity developments are being caused by structural changes in the economy, such as the decline of ICT manufacturing, and by the slowing of productivity growth within industries themselves.
The number of low-productivity firms in Finland is large, but average productivity is being raised by a small pack of frontrunners. Even in such frontier firms, productivity growth is mostly torpid.
Finland’s debt-to-GDP ratio doubled after the financial crisis. This trajectory is now on the decline, but population aging will raise public expenditure, and threatens to tilt the debt ratio upwards.
Finns have consumed at levels above their incomes, accumulating more debt than new wealth. Household saving is nevertheless similar to that of the other Nordic countries.
The macroprudential toolkit needs to be replenished with borrower-based instruments that take into account loan applicants’ repayment ability and are able to curtail household indebtedness as a whole.
Forecast tables for the Finnish economy in 2018–2021 (December 2018).
Subscribe to our newsletter