Ministry prepares €92.2b budget proposal for 2027 with €12.9b deficit

The Ministry of Finance has prepared a budget proposal of 92.2 billion euros for the year 2027 with a deficit of €12.9 billion.

Finance Minister Riikka Purra on Tuesday presented the draft proposal at an internal meeting, which earmarked a spending cut of maximum 4.8 billion euros, said a government press release.

The Minister said that country´s economic outlook improved significantly despite the challenging situation of public finances.

"Finland's economy has expanded rapidly for three consecutive quarters, with growth strengthening across all major sectors,” Purra said, adding that exports, investment and business confidence improve, which created strong outlook for future.

She, however, said that the stronger economy would have a little impact on next year's budget.

The government is scheduled to negotiate the draft budget proposal presented by the ministry on September 1–2.