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Finance Ministry publishes EU letter

The Finnish Finance Ministry has published a letter sent by the European Commission to warn Finland over breaches of EU rules on state budgets. On Wednesday it emerged that the ministry had received the reprimand along with Belgium, Croatia, Italy and Romania.

Alexander Stubb Image: Petteri Paalasmaa / AOP

Finland’s Finance Ministry has published in full a letter (siirryt toiseen palveluun) it received from EU Commissioners Valdis Dombrovskis of Latvia and Pierre Moscovici of France addressing the country’s state budget. The Commissioners said that Finland needed to do more to cut the deficit in the state budget, and warned that Finland’s growing state debt is a concern.

In 2015 Finland’s deficit is likely to have been above the 3 percent limit laid out in EU rules—although the figures have not yet been confirmed.

The commission urged Finland to continue to make structural reforms to avoid further action from the commission. Similar letters were also sent to finance ministers in Belgium, Croatia, Italy and Romania.

Meanwhile on Wednesday Finance Minister Alexander Stubb told reporters that he had no time for his fellow ministers’ plans for additional, unplanned expenditure.

"Ministers’ proposals for extra spending are unrealistic," said Stubb. "They are worth around 300-400 million euros, and we’re just unable to countenance that."

Finland’s budget will be refined and laid out in detail this spring.