Assessment of public finances 2020 : Attention should already be turned to the post-crisis years

Show full item record

Title: Assessment of public finances 2020 : Attention should already be turned to the post-crisis years
Organization: Bank of Finland
Series: Bank of Finland. Bulletin
Series volume: 94
Series number: 6/2020
Year of publication: 2021
Publication date: 12.1.2021
Pages: 59-71
Subject (yso): julkinen talous; finanssipolitiikka; julkinen velka; pandemiat; kriisit; taloudelliset vaikutukset
Keywords: COVID-19; koronakriisi; julkisen talouden kestävyys
Other keywords: fiscal policy; public finances; public debt; corona crisis; COVID-19 crisis
Abstract: During the acute phase of the COVID-19 pandemic, fiscal policy has been deployed to support households and businesses hit by the crisis. At the same time, fiscal stimulus has been stepped up to bolster economic recovery. After the crisis, once the economy has returned to a sustainable growth path, the upward trend in the public debt-to-GDP ratio must be halted and fiscal space rebuilt. Changing the course of the public finances will require broad consensus on long-term objectives, clear short-term interim targets, and concrete measures over the coming years. With the coinciding rise in age-related expenditure, rebalancing the public finances will be difficult.
Note: The accessible version: https://www.bofbulletin.fi/en/2020/6/assessment-of-public-finances-2020-attention-should-already-be-turned-to-the-post-crisis-years/
Link: http://www.bofbulletin.fi/
Rights: https://helda.helsinki.fi/bof/copyright


Files in this item

Total number of downloads: Loading...

Files Size Format View
Bulletin_publicfinances _6_2020.pdf 1.029Mb PDF View/Open

This item appears in the following Collection(s)

Show full item record