The Mayor published his budget proposal for 2026 – the European Capital of Culture year will be unique for the whole region
The Mayor of Oulu Ari Alatossava has published his budget proposal for the year 2026 and his economic plan for the years 2027–2028. The year 2026 will be historical to Oulu and the other municipalities in the region – the European Capital of Culture year brings thousands of events and international visibility.
The central economic figures during the budget proposal and economic period are two-fold. The years 2026 and 2027 will show a deficit, whereas the year 2028 will show a surplus. Adaptation measures presented in the 2025 budget proposal will continue in the coming years. These measures ensure that the funding of coming investments can be handled without the city’s loan portfolio and loan costs rising too high.
The city of Oulu’s 2026 budget proposal will show a deficit of 30 million euros. The city of Oulu’s investments costs will be significant during the next three years, approximately 650 million euros in total, and the city must take out loans to cover the investments. The city will take out a total of 196 million euros in loans in 2026, by the end of the year the loan amount is 4 374 € per resident.
No alterations have been presented for municipal or real estate tax rates; the rates will remain the same as presented in 2025.
The city invests in public services with hundreds of millions
The city’s budget proposal highlights investments in children and youth. Over half a billion euros will be invested in early childhood education, basic education and youth services annually. Most property investments will be day care or school investments.
The city invests hundreds of millions of euros in public services in the coming years. In 2026, the largest finished investments will be the Jääkärinkangas Community Centre, the new Museum and Science Centre Tiima, Pateniemi School’s Herukka unit, and the renovation of the Teuvo Pakkala School. Streets, parks and infrastructure will be renewed, and new things will be built by the city and Oulu Waterworks with nearly a hundred million euros annually.
Oulu has clear growth targets for 2030
Oulu has clear growth targets, which the city aims to achieve by 2030.
Oulu wishes that its population will increase and that the city would have 230 000 residents by 2030. The city wants to increase the number of jobs, so that 2 000 new jobs will open every year. Additionally, Oulu wishes to attract 330 million euros in private investments annually.
The Mayor’s proposal will be reviewed by the City Board and settled by the City Council
The Mayor’s budget proposal advances to be reviewed in the City Board’s budget discussion on October 16 and 17. The City Board will hold budget proposal hearings on November 4 and 11. The City Council’s budget proposal processing will begin on November 24, and the Council will reach a conclusion regarding the budget proposal at their meeting on December 8.
The budget proposal and the publication event materials can be seen on the Finances webpage (in Finnish).