Finland's finance ministry on Tuesday said it had appointed a working group to help strengthen government finances, with the aim of improving the budget balance by 6 billion euros ($6.54 billion) by 2027.
"The reckless indebtedness of the state must be brought to an end. This means that no tax solutions can be ruled out either," Finance Minister Riikka Purra of the far-right Finns Party said in a statement.
Finland's fiscal budget deficit is set to rise next year to 11.5 billion euros, the government said in September. Nordea Markets at the time estimated that the 2023 deficit would come to 10.2 billion.
Proposals could include direct austerity measures, changes in taxation and structural measures to promote employment, the ministry said on Tuesday.
The long-term goal is to balance general government finances and bring the debt ratio down to the level of the other Nordic countries, it added.
The working group will also prepare a proposal for a regular expenditure and structural review process, according to the ministry.
Prime Minister Petteri Orpo of the conservative National Coalition Party, who took office in June vowing that his government would cut spending, in September said the economic outlook had become increasingly gloomy. ($1 = 0.9168 euros) (Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)