Speaking on a YLE current affairs programme on Monday evening, Väyrynen said the money Finland would save by taking in fewer refugees could be channelled directly to crisis areas.
Finland accepts 750 quota refugees annually; however, Väyrynen points out that the number is much higher due to family reunification practices.
Väyrynen has previously rejected proposals to double Finland's intake of the self-imposed quota of 750 refugees.
The minister meanwhile doesn’t agree to recent comments made by banking tycoon Björn Wahlroos that Finland’s 50-year history of development cooperation has been a waste.