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Home BUSINESSPM concerned about sustainability gap
Fri, 20 Mar, 2015 12:07:22 AM
FTimes - STT Report, Mar 20
Prime Minister Alexander Stubb. File Photo – Lehtikuva.
Prime Minister Alexander Stubb on Thursday said he is extremely worried concerning the sustainability gap of public finances based on the recent report by the Ministry of Finance.
According to the report published on Thursday by the Ministry of Finance, getting out of the debt fold would require 6 billion euros in cuts or tax increases by 2019.
The sustainability is estimated at up to five percent of the Gross National Product.
"It means that the Finnish economy is lacking 10 billion worth of revenue every year in order to cover the expenditure," said Stubb in a statement.
The premier expressed hope that the country would cope without savings.
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