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Fourth supplementary budget proposal in preliminary debate

Published 11/11/2021 2:00 PM

Minister of Finance Annika Saarikko.

Fourth supplementary budget proposal in preliminary debate

​Parliamentary handling of the fourth supplementary budget proposal for 2021 began with a preliminary debate on Wednesday, November 10th. The proposal will reduce the need for net government borrowing this year by about EUR 2.2 billion.

According to Minister of Finance Annika Saarikko (Centre Party Parliamentary Group), the fourth supplementary budget proposal for the year shows the good pace of the economy at the moment. "We are rising rapidly from the COVID-19 slump, and confidence in the economy is still strong in both households and companies," Saarikko said.

The supplementary budget proposal suggests allocations to a number of different entities. The proposals take into account the necessary expenditure needs arising from the pandemic, other necessary expenditure needs of the administrative sectors and compensation for the decrease in revenues from the gaming company Veikkaus.

The Government proposes a reduction of approximately EUR 249 million in appropriations and an increase of approximately EUR 1.9 billion in actual revenue. This reduces the need for government net borrowing by EUR 2.2 billion. Government debt at the end of 2021 is estimated at around EUR 136 billion, or about 55% of GDP.

Following the preliminary debate, the matter was referred to the Finance Committee.

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