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Finland’s public finances among most sustainable in Europe
19/10/2009
Finland’s public finances are among Europe’s most sustainable thanks to its large assets in the public pension system, according to the European Commission’s Sustainability Report 2009.
Finland is at low risk with regard to the long-term sustainability of its public finances in the face of increasing expenditure caused by an ageing population, according to the newly published European Commission’s Sustainability Report 2009.
The commission’s sustainability analysis shows that on the basis of the current budgetary position of 2009, and the projected increases in age related expenditure, Finland has a sustainability gap of 4.0% of GDP, which is significantly below the EU average (6.5% of GDP).
The report states that Finland has an above average projected increase in age-related expenditure over the long-term, but its large stock of public financial assets provides a buffer against the negative budgetary impacts of the crisis. Finland is also among best placed countries in terms its pension reforms and structural fiscal position.
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