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Wed, 18 May, 2016 12:10:59 AM FTimes – STT Report, May 18  File Photo – Lehtikuva. The National Audit Office of Finland (VTV) on Tuesday said that there is no need to set EU-imposed financial controls on Finland.
The European Commission is expected to announce on Wednesday whether Finland warrants special monitors for its so-called excessive deficit dealings.
The Commission is particularly concerned about Finland's growing debt ratio, which shows no sign of falling.
In VTV's interpretation, Finland has, so far, complied with the rules of the EU financial disci-pline regulation.
However, over the next few years, Finland will exceed the debt criterion.
The Commission made its assessment based on actual figures. Last year, the country’s fiscal debt was 63.1 percent of GDP.
However, the corrected short-term debt ratio remained below 60 percent, in accordance with EU rules.
“When the Commission publishes its own assessment, it will be the cyclically-adjusted debt which is considered,” said VTV budget compliance officer Heidi Silvennoinen.
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Finland Times
| Thursday, 18 April, 2024 |
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