Budget review 2023 : Review on central government budget proposal, September 2022
Ministry of Finance
19.09.2022
Julkaisusarja:
Publications of the Ministry of Finance 2022:63Julkaisun pysyvä osoite on
http://urn.fi/URN:ISBN:978-952-367-256-7Tiivistelmä
This publication examines the budget proposal for 2023, which will be submitted to Parliament in September. The aim is to provide a concise description of the central themes of the 2023 Budget. The budget proposal 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. In the second half of 2022 and in 2023, economic growth will be slowed by the erosion of household purchasing power, very high uncertainty regarding the future investment environment and challenges associated with the availability of skilled labour.
The appropriations in the budget proposal for 2023 amount to EUR 80.5 billion. The central government on-budget deficit is projected to amount to approximately EUR 8 billion. Compared to the actual 2022 budget, the expenditure will increase by EUR 15.6 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. In the second half of 2022 and in 2023, economic growth will be slowed by the erosion of household purchasing power, very high uncertainty regarding the future investment environment and challenges associated with the availability of skilled labour.
The appropriations in the budget proposal for 2023 amount to EUR 80.5 billion. The central government on-budget deficit is projected to amount to approximately EUR 8 billion. Compared to the actual 2022 budget, the expenditure will increase by EUR 15.6 billion, particularly due to the reform of healthcare and social welfare services.