Finland’s economic freedom score is 73.4, making its economy the 19th freest in the 2015 Index. Its score is unchanged from last year, with improvements in labor freedom, fiscal freedom, monetary freedom, and trade freedom counterbalanced by declines in the management of government spending, freedom from corruption, and business freedom. Finland is ranked 9th out of 43 countries in the Europe region, and its overall score is well above the world average.
Finland, a top performer in economic freedom in both Europe and the world, remains a dynamic and flexible economy. However, over the past five years, its strong growth in economic freedom has ended, with declines in business freedom, monetary freedom, and control of government spending offsetting significant improvements in labor freedom. Economic growth has also stagnated.
A European leader in information and communications technology, Finland has developed a strong domestic market with openness, efficiency, and flexibility at its core. The rule of law is buttressed by strong property rights, and the perceived level of corruption is one of the world’s lowest. As with other Nordic countries, government spending is high relative to the domestic economy, but the government remains committed to meeting deficit targets.