Cover IMF Staff Country Reports
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.
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 039
Language:
English
Publication Date:
04 Feb 2009
DOI:
https://doi.org/10.5089/9781451813302.002
ISBN:
9781451813302
ISSN:
1934-7685
Pages:
85
Keywords:
ISCR; CR; PRGF arrangement; SDR; amount equivalent to SDR; IMF staff estimate; oil price mechanism; West public finance management mission; excl. IMF; Current spending; Capital spending; Oil prices; Tax administration core functions; West Africa; Global
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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.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund