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Country snapshots 2019-20: Finland

Output growth is projected to remain healthy, albeit moderating after the vigorous 2016-18 upturn. Exports will continue to benefit from expanding external demand and regained competitiveness. Private consumption will be supported by rising wages and improved employment. Inflation will pick up gradually as the economy nears full capacity.

The economic recovery and fiscal consolidation measures are stabilising government debt. Nevertheless, rising ageing-related costs pose a longer-term challenge to fiscal sustainability. Recent pension and labour market reforms strengthen public finances, but enhanced work incentives are needed to lift employment further. Efficiency gains are also key to continue providing high-quality public services in a sustainable way.

GDP growth

2015

Current prices EUR billion

2018

  

2019

% change, volume (2010 prices)

2020

   

209.6 2.8 1.8 1.6

References and further reading

OECD (2018), OECD Economic Outlook, Volume 2018 Issue 2, OECD Publishing, Paris, https://doi.org/10.1787/eco_outlook-v2018-2-en.

Visit www.oecd.org/eco/economicoutlook.htm      

©OECD Observer January 2019