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Home BUSINESSUrpilainen assures hundreds millions EUR stimulus projects
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Wed, 07 Aug, 2013 12:00:49 AM
Govt to place next year budget proposal today
FTimes-STT Report, August 7
 
Finance Minister Jutta Urpilainen (center)speaking at a press briefing after an internal meeting on the budget proposal on Tuesday. Photo - Lehtikuva
The Finance Minister, Jutta Urpilainen will present the budget proposal for the year 2014 on Wednesday keeping the  policy of cutting costs and saving money through increasing taxes unchanged as described earlier in the budget planning in March this year.
 
The Finance Minister, however, at a press briefing told reporters that a package of "hundreds millions" Euro stimulus project would be announced following the deteriorating vulnerable economic situation of the country.
 
“No more expenditure policy will be followed in the budget of next year (2015),” the finance minister said after a meeting of internal preparations held at the Köningstedt Manor in Vantaa on Tuesday.
 
The budget proposal will be made public on Thursday.
 
She also emphasised to reach a moderate labour market solution to create job scope and competitiveness.
 
Earlier, the Prime Minister, Jyrki Katainen on Monday said that the main objective of the government’s economic policy is to narrow down the debt.
 
Terming the country’s present fragile economic situation as the reason behind taking more and more loan, Katainen , also chief of the National Canalisation Party (Kokoomus) said that his government was trying to decrease significant amount of debt by the end of this regime.
 
 He also said that the government had to compromise with the deficit target.
 
The ruling parties said that they would increase taxes and cut down expenses in such a way that the government deficit would not rise more than one per cent from gross domestic product.
 
Earlier, the coalition government on March 21 announced the budget planning in the parliament for the next fiscal aiming to adjust an amount of EUR 600 million.
 
Although the leaders of the ruling parties termed the budget as a financial solution and said that it would help boom the job market, the lawmakers of the opposition criticized the budget for cutting expenditure.
 
Government sources said that the final budget proposals would be presented in the parliament at the end of this month and will be approved in December after holding discussions throughout the month of September.
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