valtionvarainministeriön

Valtionvarainministeriö, commonly translated as the Ministry of Finance of Finland, is a government ministry responsible for formulating and implementing the state’s financial and economic policy. Its remit includes the central government's budget and fiscal policy, taxation policy, the administration of public finances, debt management, state accounting, and public procurement, as well as oversight of financial markets and the taxation system.

The ministry works to maintain macroeconomic stability, sustainable public finances, and efficient public administration. It prepares the government’s budget proposal, economic policy program, and long-term fiscal plans, and monitors economic and financial developments to guide decision-making by the government and parliament. It also provides analysis and guidance on economic trends, revenue forecasting, and financial planning for the state.

Organization and cooperation: The ministry is headed by the Minister of Finance and comprises departments focused on economic policy, budget and financial planning, tax policy, and procurement, among others. It coordinates with other ministries and government agencies, such as the Tax Administration, and collaborates with institutions like the Bank of Finland and Statistics Finland as needed to fulfill its duties.

History: Valtionvarainministeriö traces its origins to the early 19th century as part of Finland’s financial administration, developing into a separate ministry of finance after Finland’s independence and through subsequent constitutional reforms. Its role has expanded over time to cover modern public finances, economic policy, and fiscal oversight.

Location and status: The ministry is based in Helsinki and is one of the central ministries in the Finnish government.