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Table of contents; Basic statistics of Finland, 2012; Executive summary; Main findings; Key recommendations; Reforms to cope with ageing; Fiscal policy and structural reforms; Local public finances and municipal reform; Financial policy; Innovation and green growth; Assessment and recommendations; F...

The economy is undergoing deep restructuringGrowing sectors have not compensated losses in electronics and forestry; Figure 4. The share of electronic and forest products in output has collapsed; The challenge for Finland is to continue to benefit from integration in global value chains; Figure 5. C...

The financial sector is solid but remaining vulnerabilities should be addressedFigure 8. Financial conditions are supportive but credit growth is sluggish; Figure 9. Gross household debt and house prices have trended up; Figure 10. Overall leverage is high; Recommendations on financial policy; Some...

Recommendations on fiscal policy and structural reformsThe economic consequences of population ageing; Figure 12. Old-age dependency and pension costs are growing rapidly; Population ageing will put pressure on pension and health spending; Figure 13. Health and long-term care expenditure are project...

Recommendations on pension, health and labour market reformsEnhancing public sector efficiency; Municipalities are small and have broad responsibilities; Figure 15. Local government expenditure is high as a share of GDP; Figure 16. Fragmentation makes it difficult to rein in spending; Local governme...

Figure 18. Municipal costs are lowest at about twenty thousand inhabitants