“The situation is even worse than I thought,” said the chairman of the coalition, Petteri Orpo, when he showed the media a graph depicting the growth of public debt in the next few years. “That’s why it’s even more important to act as recommended by the Ministry of Finance.”
The ministry has estimated that six billion euros are needed for the adjustment of public finances in the years 2023–2027 and another three billion euros in the years 2027–2031.
Orpo also pointed out that the gross domestic product is expected to shrink this year.
“The deficit of the public finances is getting worse”, he stated and reminded that the growing debt burden and rising interest rates will increase the debt service costs to more than five billion euros by the end of the election period.
The coalition believes that an adjustment of nine billion euros in the next two election periods would not only reverse the debt trend, but also combat the sustainability deficit that threatens Finland.
The press conference was dominated by economic publications, as the four parties had found an agreement on the economic framework of the next government. The reference framework sets limits for negotiations on other themes of the government program, which are still in the initial stages when the negotiators consult experts from different sectors of society.
Orpo said on Tuesday that he was satisfied with the work of the negotiation group that prepared the financial framework and added that agreement on the framework was found relatively easily between the parties.
“It’s hard work when you have nothing to share and you’re mostly taking something away,” he admitted.
Riikka PurraThe chairman of the Basic Finns emphasized yesterday that the group dealing with financial matters has not yet reached a consensus on all the details. Anna-Maja Henriksson A representative of the Swedish People’s Party sent the same message, but also confirmed that there is consensus on the scope and broader guidelines.
Orpo stated that the next government must make reforms in order to preserve Finland’s welfare state.
“Our four parties have no other goal than to find a way to make Finland a strong and solid country that can maintain prosperity,” he summarized to reporters.
Aleksi Teivainen – HT
Source: The Nordic Page