The Economic Policy Council has begun carrying out its new statutory responsibilities by endorsing the Ministry of Finance’s macroeconomic forecast. Going forward, the council will also assess compliance with EU fiscal rules in Finland.
Council endorses the Ministry of Finance’s spring 2026 forecast
The Economic Policy Council endorsed the Ministry of Finance’s spring 2026 macroeconomic forecast by means of an endorsement letter (in Finnish) issued on 10 April 2026. The letter was published as part of the Economic survey, Spring 2026.
The council endorses the macroeconomic forecasts prepared by the Economics Department at the Ministry of Finance twice a year. The spring forecast is endorsed before the Government’s spending limits session, and the autumn forecast before the Government’s budget session. The purpose of endorsing the macroeconomic forecast is to ensure that economic policy decision-making is based on realistic and independent forecasts. The endorsement of macroeconomic forecasts forms part of the national implementation of the EU’s common fiscal framework.
Ministry of Finance requests council to assess compliance with EU fiscal rules
As part of the EU’s fiscal rules, Finland is required to comply with the net expenditure path, which sets a ceiling on the growth of public expenditure. In Finland’s 2026 Annual Progress Report (in Finnish), published on 30 April 2026, the Ministry of Finance requestedthat the Economic Policy Council assess, and where necessary analyse, any deviation from Finland’s 2025 net expenditure path. In addition, the Ministry of Finance requested that the council prepare an assessment of the adequacy of measures related to the Excessive Deficit Procedure (EDP).
The council will prepare and publish, at the Ministry of Finance’s request, an assessment of any deviation from the 2025 net expenditure path and, where necessary, an analysis of the reasons for such a deviation. The council will also publish its assessment of the adequacy of measures related to the Excessive Deficit Procedure no later than early autumn 2026.
For more information:
Chair Niku Määttänen
niku.maattanen@helsinki.fi
+358 29 412 8721 / +358 41 545 6721
Secretary general Jenni Jaakkola
jenni.jaakkola@vatt.fi
+358 295 519 508