Finland: Staff Report for the 1999 Article IV Consultation

International Monetary Fund

No 1999/121, IMF Staff Country Reports from International Monetary Fund

Abstract: This 1999 Article IV Consultation highlights that Finland’s economy has made a strong recovery from the deep recession that began in the early 1990s. Spurred by a devaluation of the markka, growth was predominantly export driven, and the external current account shifted from a deficit of more than 5 percent in the early 1990s to a surplus of the same magnitude in 1997/98. In this setting, prudent macroeconomic policies brought public finances from a deficit of 7 percent of GDP in 1993 to a surplus in 1998.

Keywords: ISCR; CR; government; budget proposal; surplus; public finance; staff appraisal; consumer price inflation; government program; business outlook indicator; wage agreement; Labor markets; Employment; Pension spending; Pensions; Global (search for similar items in EconPapers)
Pages: 44
Date: 1999-10-18
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