Finland’s economy is gradually picking up, but uncertainty surrounds the recovery. Determined action to implement structural reforms is needed to revive economic growth, restore competitiveness and preserve high standards of living and well-being, according to the OECD’s latest Economic Survey of Finland.

Finland’s population is set to age rapidly in the coming decades. This will put pressure on public finances, while shrinking labour resources. Nonetheless, solutions exist to alleviate those pressures. Adjusting the pension age in line with the rise in life expectancy would reduce pension costs and increase older workers’ employment, provided it is accompanied by the removal of the pathways to early retirement.

This Working Paper studies ways to stimulate the private rental sector (PRS) of the housing market – and compares experiences with policies and reforms in Germany, the Netherlands, Finland and the Czech Republic.

The United Kingdom’s economy is projected to expand this year and next, but challenges remain to boost productivity and make future growth more inclusive, according to the OECD’s latest Economic Survey.

With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.

Finland enjoys a high level of income and well-being, but the economy has weakened and new reforms will be necessary to restart growth, boost productivity increase employment and restore competitiveness, according to the latest OECD Economic Survey of Finland.

Reviving productivity requires improving framework conditions further so labour and capital can more easily move to the most dynamic sectors and firms, making the tax system more growth-friendly, and supporting innovation, basic research and young firms’ financing.

Policies to speed up tertiary graduation, improve work incentives and activation of the unemployed and postpone labour market exit are necessary to bring the employment rate closer to the level of other Nordics

Macro-simulations benchmarking employment in Finland to the Nordic average show that closing the large gaps in labour participation vis-à-vis the other Nordics across genders and age groups would boost employment significantly.

Productivity growth has been sluggish since the Great Recession and had been slowing before it.

With the global economy mired in low-growth and no signs of strong acceleration, a lot of attention has been paid to the meagre pace of productivity growth in OECD countries.

In the United States, the most watched indicator of productivity (nonfarm business productivity growth) decelerated about ¾ percentage point from 2009 to 2014 relative to the preceding 5-year period.

Finland enjoys a high level of income and well-being. Nevertheless, output has been dragged down by the global downturn, the decline of the electronics and paper industries and the Russian recession.

In Finland, as elsewhere, income taxation and the withdrawal of benefits reduce the pay-off for individuals who go from benefits to work.

After a long period of lacklustre economic performance, robust growth has resumed.

This paper compares Finland’s benefit system with two benefit reform scenarios: a uniform benefit for all ("basic income") and a universal tapering rule ("universal credit").

The combination of different working-age benefits, childcare costs and income taxation creates complexity, reduces work incentives and holds back employment.

Finland raises a large amount of taxes to finance high-quality public services and redistribute income.

The economics profession seems to increasingly endorse the existence of a strongly negative nonlinear effect of public debt on economic growth. Reinhart and Rogoff (2010) were the first to point out that a public debt to GDP ratio higher than 90% of GDP is associated with considerably lower economic performance in advanced and emerging economies alike.

Finnish municipalities enjoy ample fiscal autonomy and provide or arrange the provision of a large share of public services. In recent years, their spending and debt has been increasing steadily, especially because of population ageing and increases in the cost of health care and social services.

This report is the first joint OECD Public Governance Review between two countries. The Report discusses challenges in whole-of-government strategy steering and the opportunities of digital government.

The tax on immovable property recently started to regain its former significance, but the tax yield still remains low, with slightly more than 1% of GDP and wide variation across countries.

Ministers and cabinet-level officials from OECD countries and beyond will participate to help determine how we shape the policy cycle to deliver inclusive outcomes.

The OECD is now developing a new Recommendation on Open Government, which aims to help the countries that will adhere to it design and implement successful open government reforms by identifying a clear, actionable, evidence-based, and common framework for the governance of open government* .

Corporate climate change disclosure is crucial for providing decision-makers with information that will enable them to integrate climate considerations into their analyses. This side event to the 21st session of the Conference of the Parties will focus on ways to strengthen corporate climate disclosure frameworks, and to scale up the use of corporate climate change-related information.

From introducing equal inheritance rights in 1878, Finland continues to earn it's reputation as a global pioneer of gender equality.

Finland scored 86 points out of 100 on the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Index in Finland averaged 92.58 Points from 1995 until 2019, reaching an all time high of 100 Points in 2000 and a record low of 85 Points in 2017. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). This page provides the latest reported value for - Finland Corruption Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Finland is the 3 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Finland averaged 2.44 from 1995 until 2019, reaching an all time high of 6 in 2009 and a record low of 1 in 2000. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Finland Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Wages High Skilled in Finland increased to 4250 EUR/Month in 2018 from 4230 EUR/Month in 2017. Wages High Skilled in Finland averaged 4095 EUR/Month from 2015 until 2018, reaching an all time high of 4250 EUR/Month in 2015 and a record low of 3650 EUR/Month in 2016. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Electricity Production in Finland increased to 6606 Gigawatt-hour in December from 6037 Gigawatt-hour in November of 2019. Electricity Production in Finland averaged 5927.96 Gigawatt-hour from 2008 until 2019, reaching an all time high of 8710 Gigawatt-hour in December of 2010 and a record low of 4306 Gigawatt-hour in July of 2009. This page has Electricity Production values for Finland.

Finland 10Y Bond Yield was -0.13 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Finland Government Bond 10Y reached an all time high of 13.55 in September of 1992. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Exports to Finland CMLV in Russia increased to 1597.40 USD Million in February from 874.80 USD Million in January of 2020. Exports to Finland CMLV in Russia averaged 5647.95 USD Million from 2006 until 2020, reaching an all time high of 15741.20 USD Million in December of 2008 and a record low of 416 USD Million in January of 2016. Russia accounts for Exports to Finland using cumulative values for each year (CMLV). This page includes a chart with historical data for Russia Exports to Finland.

Bank Lending Rate in Finland remained unchanged at 0.25 percent in December from 0.25 percent in November of 2019. Bank Lending Rate in Finland averaged 2.62 percent from 1995 until 2019, reaching an all time high of 7 percent in February of 1995 and a record low of 0.25 percent in April of 2018. In Finland, the bank lending rate is the average rate of interest charged on loans by commercial banks to private individuals and companies. This page provides - Finland Bank Lending Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Wages Low Skilled in Finland decreased to 1980 EUR/Month in 2018 from 2000 EUR/Month in 2017. Wages Low Skilled in Finland averaged 1885 EUR/Month from 2015 until 2018, reaching an all time high of 2000 EUR/Month in 2017 and a record low of 1580 EUR/Month in 2016. Low Skilled Wages refer to highest estimate of wage of workers doing low-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Wages in Manufacturing in Finland increased to 104.40 points in the fourth quarter of 2019 from 104 points in the third quarter of 2019. Wages in Manufacturing in Finland averaged 74.64 points from 1990 until 2019, reaching an all time high of 104.40 points in the fourth quarter of 2019 and a record low of 40.60 points in the first quarter of 1990. This page provides - Finland Wages in Manufacturing Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports from Finland in Netherlands decreased to 328000 EUR THO in February from 390000 EUR THO in January of 2020. Imports from Finland in Netherlands averaged 327779.69 EUR THO from 2014 until 2020, reaching an all time high of 439000 EUR THO in March of 2017 and a record low of 245928 EUR THO in August of 2015. This page includes a chart with historical data for Netherlands Imports from Finland.

Home Ownership Rate in Finland increased to 71.60 percent in 2018 from 71.40 percent in 2017. Home Ownership Rate in Finland averaged 72.92 percent from 2004 until 2018, reaching an all time high of 74.30 percent in 2010 and a record low of 71.40 percent in 2004. This page provides the latest reported value for - Finland Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Gross National Product in Finland increased to 52473 EUR Million in the fourth quarter of 2019 from 52233 EUR Million in the third quarter of 2019. Gross National Product in Finland averaged 42331.58 EUR Million from 1990 until 2019, reaching an all time high of 52473 EUR Million in the fourth quarter of 2019 and a record low of 27989 EUR Million in the second quarter of 1993. This page provides - Finland Gross National Income - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Finland scored 80.25 points out of 100 on the 2018 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Finland averaged 22.69 Points from 2007 until 2019, reaching an all time high of 80.26 Points in 2018 and a record low of 5.36 Points in 2011. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. The report is made up of 98 variables, from a combination of data from international organizations as well as from the World Economic Forum’s Executive Opinion Survey. The variables are organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The GCI varies between 1 and 100, higher average score means higher degree of competitiveness. With the 2018 edition, the World Economic Forum introduced a new methodology, aiming to integrate the notion of the 4th Industrial Revolution into the definition of competitiveness. It emphasizes the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. This page provides the latest reported value for - Finland Competitiveness Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Living Wage Family in Finland decreased to 1700 EUR/Month in 2018 from 1780 EUR/Month in 2017. Living Wage Family in Finland averaged 1707.50 EUR/Month from 2015 until 2018, reaching an all time high of 1780 EUR/Month in 2017 and a record low of 1650 EUR/Month in 2015. WageIndicator Living Wage computations are based on the cost of living for a predefined food basket derived from the FAO database distinguishing 50 food groups with national food consumption patterns in per capita units, for housing and for transportation, with a margin for unexpected expenses. The data about prices of these items is collected through an online survey. Living Wage for a typical family refers to the family composition most common in the country at stake, calculated on the respective fertility rates.

The Social Security Rate For Employees in Finland stands at 9.79 percent. Social Security Rate For Employees in Finland averaged 7.45 percent from 2000 until 2019, reaching an all time high of 9.79 percent in 2019 and a record low of 6.30 percent in 2002. In Finland, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate For Employees are an important source of income for the government of Finland because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Finland Social Security Rate For Employees - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Gold Reserves in Finland remained unchanged at 49.14 Tonnes in the fourth quarter of 2019 from 49.14 Tonnes in the third quarter of 2019. Gold Reserves in Finland averaged 49.12 Tonnes from 2000 until 2019, reaching an all time high of 49.14 Tonnes in the fourth quarter of 2004 and a record low of 49.05 Tonnes in the second quarter of 2000. Gold Reserves are country’s gold assets held or controlled by the central bank. This page provides - Finland Gold Reserves - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Personal Income Tax Rate in Finland stands at 53.75 percent. Personal Income Tax Rate in Finland averaged 53.40 percent from 1995 until 2020, reaching an all time high of 62.20 percent in 1995 and a record low of 49 percent in 2012. In Finland, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Finland. This page provides - Finland Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports to Finland in France decreased to 117 EUR Million in March from 283 EUR Million in February of 2020. Exports to Finland in France averaged 156.29 EUR Million from 2014 until 2020, reaching an all time high of 408 EUR Million in December of 2015 and a record low of 106 EUR Million in December of 2014. This page includes a chart with historical data for France Exports to Finland.

GDP From Manufacturing in Finland decreased to 8235 EUR Million in the fourth quarter of 2019 from 8567 EUR Million in the third quarter of 2019. GDP From Manufacturing in Finland averaged 6633.91 EUR Million from 1990 until 2019, reaching an all time high of 10097 EUR Million in the fourth quarter of 2007 and a record low of 3241 EUR Million in the fourth quarter of 1991. This page provides - Finland Gdp From Manufacturing- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Public Administration in Finland increased to 8119 EUR Million in the fourth quarter of 2019 from 7944 EUR Million in the third quarter of 2019. GDP From Public Administration in Finland averaged 8138.63 EUR Million from 1990 until 2019, reaching an all time high of 8511 EUR Million in the second quarter of 2003 and a record low of 7558 EUR Million in the first quarter of 1994. This page provides - Finland Gdp From General Government Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Finland was last recorded at 41898.62 US dollars in 2018, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Finland, when adjusted by Purchasing Power Parity is equivalent to 236 percent of the world's average. GDP per capita PPP in Finland averaged 35577.98 USD from 1990 until 2018, reaching an all time high of 42574.64 USD in 2008 and a record low of 25686.51 USD in 1993. The GDP per capita PPP is obtained by dividing the country’s gross domestic product, adjusted by purchasing power parity, by the total population. This page provides the latest reported value for - Finland GDP per capita PPP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

GDP From Services in Finland decreased to 30535 EUR Million in the fourth quarter of 2019 from 30570 EUR Million in the third quarter of 2019. GDP From Services in Finland averaged 24883.74 EUR Million from 1990 until 2019, reaching an all time high of 30570 EUR Million in the third quarter of 2019 and a record low of 18076 EUR Million in the fourth quarter of 1993. This page provides - Finland Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Transport in Finland decreased to 2190 EUR Million in the fourth quarter of 2019 from 2245 EUR Million in the third quarter of 2019. GDP From Transport in Finland averaged 2063.44 EUR Million from 1990 until 2019, reaching an all time high of 2297 EUR Million in the second quarter of 2013 and a record low of 1638 EUR Million in the fourth quarter of 1991. This page provides - Finland Gdp From Transportation and Storage- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP From Utilities in Finland decreased to 1418 EUR Million in the fourth quarter of 2019 from 1432 EUR Million in the third quarter of 2019. GDP From Utilities in Finland averaged 1304.51 EUR Million from 1990 until 2019, reaching an all time high of 1611 EUR Million in the fourth quarter of 2007 and a record low of 991 EUR Million in the third quarter of 1990. This page provides - Finland Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.