Finland

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Finland's 8.2 rating places it at 18th position among 123 countries in 1997, about the same as its 8.1 rating and 8th place finish (out of 57) in 1970.

Despite the recent economic revival the government shows no significant structural realignment in terms of the size and share of government consumption. Further, transfers and subsidies remain high--21.9 percent of GDP--and are financed by top marginal tax rates of 53 percent to 60 percent. A receding governmental share of the economy would increase the potential for economic growth.

Finland's economic strengths are an established and reliable legal structure, the freedom of citizens to maintain foreign currency accounts domestically and abroad, and an almost fully liberalized foreign-trade sector. Also, attempts to control the annual money supply were effective as the inflation rate shrank to 1.5 percent.

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Last Modified: Monday, January 10, 2000