Reliability of macroeconomic forecasts 2027

The purpose of the audit is to study whether the macroeconomic and fiscal forecasts prepared by the Ministry of Finance are reliable compared to the forecasts produced by other key forecasting institutes. For 2027, the focus is on domestic demand. Investments and private and public consumption are the components of domestic demand. Macroeconomic forecasts are used in the annual and multi-annual planning of the fiscal policy and the budget. Regular ex-post evaluations of macroeconomic and budgetary forecasts are the statutory task of the National Audit Office of Finland. The task is based on the EU Budgetary Frameworks Directive.