Finland submits its draft budgetary plan to the European Union

NordenBladet — On Thursday 14 October, Finland submitted its draft budgetary plan for next year to the European Commission.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 informationon 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 budget proposal, the programme for local government finances for next year and this year’s supplementary budgets. All euro area countries are required to submit a DBP to the European Commission by 15 October.

Source: Valtioneuvosto.fi