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Finland: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 368
Language:
English
Publication Date:
07 Dec 2016
DOI:
https://doi.org/10.5089/9781475557947.002
ISBN:
9781475557947
ISSN:
1934-7685
Pages:
60
Keywords:
ISCR; CR; statement by the executive director for Finland; potential GDP; Finland; fiscal policy; GDP; IMF staff calculation; labor market; household debt; growth package spending; SGP threshold; macroprudential policy mandate; progress assessment; Loans; Macroprudential policy; Global; IMF's transparency policy; IMF's articles of agreement; staff recommendation; General government finances; State budget; Baltics
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This 2016 Article IV Consultation highlights that the growth in Finland has turned tepidly positive again following a deep recession. GDP increased by 0.2 percent in 2015 driven by stronger private consumption and a rebound in investment. Although net export growth was weak, falling oil prices contributed to the nominal trade balance shifting into surplus, reducing the current account deficit. Better-than-expected fiscal performance brought the deficit back under the 3 percent Stability and Growth Pact limit in 2015. The recovery is likely to continue, but growth is set to remain slow at about 0.9 percent in 2016 and 1.1 percent in 2017. This outlook is subject to downside risks.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund