Finland: Staff Report for the 1999 Article IV Consultation
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.
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Volume/Issue:
Volume 1999
Issue 121
Publication date: October 1999
ISBN: 9781451813142
$20.00
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Business and Economics , Social Science , Labor , Economics- Macroeconomics , Public Finance , Taxation - General , Demography , 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
Summary
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.
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