Responsible finances as the basis for sustainable growth

The growth of Helsinki’s operational expenses is controlled and the cash flow from operations and investments is monitored in accordance with the budget forecast process. In the early part of the year, the city has launched a number of plans and projects aimed at improving efficiency and productivity.

However, managing the COVID-19 pandemic continues to cause costs and income losses. In addition, the management of the treatment and service backlog, loss of learning and well-being and other recovery caused by the pandemic also cause costs. 

The Russian invasion war in Ukraine has brought along a new significant element of uncertainty to the economy in the early part of the year. Costs arise, for example, from services that are arranged for those arriving from Ukraine. In addition, the crisis in Ukraine has brought along economic instability and upward pressure on costs, putting more pressure on the city than anticipated. 

The development of the city’s economy is reported in more detail in the monitoring reports on economic activities compiled three times a year. The reports are available on the city’s website.