One of the strategies included in the Government Programme of Prime Minister Sanna Marin is a strategy of sustainable growth. The strategy aims for a more diverse industrial structure, better productivity, export growth, business renewal and a stronger business environment. The strategy also envisages the creation of international billion euro ecosystems.
Due to the coronavirus crisis, the focus of the Government’s strategic work has shifted to preventing the spread of the virus and ensuring the provision of financial crisis assistance. Situation permitting, the aim will be to restore economic activity to normal conditions. However, the strategy of sustainable growth will remain on the agenda as planned.
The objective is to update the previous outlines for growth policy identified by the Ministry of Economic Affairs and Employment. They will also be linked to other documents to be prepared that are mentioned in the Government Programme, such as the entrepreneurship strategy and international growth programme, and the EU Industrial Policy Strategy. The strategy for a low-carbon economy also determines the framework conditions of the strategy of sustainable growth, while the transformation of the energy market offers growth opportunities for Finnish expertise.
The employment objective set in the Government programme is to raise the employment rate to 75 per cent and to increase the number of people in employment by a minimum of 60,000 by the end of 2023. During the same time the unemployment rate should decrease to 4.8 per cent. The strategy of sustainable growth will support the attainment of these objectives. The objectives will, however, need to be re-examined against the changes in general circumstances caused by the coronavirus crisis.