Budget review 2023 : Review on central government budget, January 2023
Ministry of Finance
11.01.2023
Julkaisusarja:
Publications of the Ministry of Finance 2023:3Julkaisun pysyvä osoite on
http://urn.fi/URN:ISBN:978-952-367-237-6Tiivistelmä
This publication examines the 2023 Budget, which was adopted by Parliament in December. The aim is to provide a concise description of the central themes of the 2023 Budget. The budget is based on an independent economic forecast produced by the Economics Department at the Ministry of Finance, which is presented in the Economic Survey.
This economic outlook is affected by Russia’s invasion of Ukraine, the energy crisis and accelerating inflation. The economy turned to a decline in the latter part of 2022 due to the erosion of household purchasing power, very high uncertainty regarding the future investment environment and the slowing of the international economy.
The appropriations in the budget for 2023 amount to EUR 81.3 billion. The central government on-budget deficit is predicted to amount to approximately EUR 8.3 billion. Compared to the actual 2022 budget, the expenditure will increase by EUR 16.4 billion, particularly due to the reform of healthcare and social welfare services.
This economic outlook is affected by Russia’s invasion of Ukraine, the energy crisis and accelerating inflation. The economy turned to a decline in the latter part of 2022 due to the erosion of household purchasing power, very high uncertainty regarding the future investment environment and the slowing of the international economy.
The appropriations in the budget for 2023 amount to EUR 81.3 billion. The central government on-budget deficit is predicted to amount to approximately EUR 8.3 billion. Compared to the actual 2022 budget, the expenditure will increase by EUR 16.4 billion, particularly due to the reform of healthcare and social welfare services.