Finland: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland
IMF Staff Country Reports, December 7, 2016
Source details
- Canonical URL
- Finland: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland
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Bibliographic details
- Published: December 7, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475557947.002
Key findings
- Growth turned tepidly positive following a deep recession.
- GDP increased by 0.2 percent in 2015 driven by stronger private consumption and a rebound in investment.
- Net export growth was weak, but 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.
Outlook and risks
- 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.
Fiscal and external position highlights
- Deficit position: deficit returned to below the 3 percent Stability and Growth Pact limit in 2015.
- External sector: nominal trade balance shifted into surplus in 2015; current account deficit was reduced.
Scope and analytical focus
- Subject areas covered: Banking; Expenditure; Financial institutions; Financial sector policy and analysis; Fiscal policy; Labor; Labor markets; Loans; Macroprudential policy; Nonperforming loans; Public debt.
Finland: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Finland