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IMF presented its review of the Finnish economy

Ministry of Finance
Publication date 17.11.2022 10.06
Press release

The International Monetary Fund published its statement on the Finnish economy on Thursday 17 November.

The statement covered areas such as:

•    economic outlook
•    economic effects of Russia’s war of aggression
•    government finances and fiscal policy
•    climate action
•    financial markets.

Minister Saarikko shares IMF's views of structural reforms

Minister of Finance Annika Saarikko found the meeting with IMF economists very useful. Important perspectives were exchanged on the challenges facing the Finnish economy in a situation where the outlook is in many ways uncertain.

“As the IMF notes, Russia’s invasion of Ukraine and the knock-on effects of the invasion have weakened the economic outlook and put more pressure on government finances. We agree with the IMF that we must continue structural reforms and secure long-term growth,” Minister Saarikko says.

Statement a part of IMF country monitoring

The IMF issues corresponding statements about all its member countries as part of its country monitoring activities. The IMF's visits to member countries are called Article IV Consultations, as they are required by Article IV of the IMF's Articles of Agreement. The statement is based on assessments by IMF experts and on discussions they have had with Finnish authorities, labour market organisations, financial institutions, research institutes and others.
The IMF’s Executive Board will discuss the country report on Finland and a separate report on the Finnish financial market early next year.

Inquiries:
Julia Niemeläinen, Senior Specialist, tel. +358 295 530 043, julia.niemelainen(at)gov.fi
Joel Kuuva, Special Adviser to the Minister, tel. +358 504 146 444, joel.kuuva(at)gov.fi

Annika Saarikko Economic Policy Economic Prospects Financial markets Nykyinen hallitus
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