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Home BUSINESSState debt to rise to EUR 124b in 2019
Wed, 25 Mar, 2015 12:07:29 AM
Govt agrees on technical framework of budget 2016-2019
FTimes – STT Report, Mar 25
The cabinet held a meeting on Tuesday finalises technical framework of the budget for 2016-2019. Prime Minister Alexander Stubb (left) and Minister of Finance Antti Rinne were seen with other ministers. Photo – Lehtikuva.
The government on Tuesday agreed to a technical framework of the state budget for the period 2016-2019 with the deficit forecast to rise to 6 billion euros in 2016, but come down to 5.3 billion euros in 2019.
The incoming government will inherit a difficult economic situation as the state debt is expected to soar to 124 billion euros by 2019 which is approximately 53 percent of the gross domestic product.
The state debt amounted to 95 billion euros at the end of 2014 which is approximately 47 percent of the total production.
The technical framework is intended to be used for the basis of the incoming government negotiations and framework decisions.
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