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Finland submits 2018 DBP to EU

06 Oct 2017, 00:37 ( 06 Oct, 2017) | updated: 06 Oct 2017, 13:10 ( 06 Oct, 2017)

DF Report
Photo Source: Finnish parliament by Hanne Salonen.

Finland on Thursday submitted its draft budgetary plan for 2018 to the European Commission, said a government press release.

Draft budgetary plans (DBPs) are part of the European Union’s coordinated surveillance exercise.

The DBP should allow the identification of any deviations from the general government finances strategy presented in the most recent Stability Programme.

The DBP contains information on macroeconomic forecasts and assumptions, targets for general government finances, expenditure and revenue projections under the no-policy-change scenario, expenditure and revenue targets, discretionary measures included in the draft budget, the goals of the European Union’s strategy for growth and jobs and the country specific recommendations and a comparison between the DBP and the most recent Stability Programme.

Finland’s draft budgetary plan is based on the Government’s draft budget, the programme for local government finances for next year and this year’s supplementary budget.

All euro area countries are required to submit a DBP to the European Commission by 15 October.