Finland's economic growth slowing, inflation accelerating

by IANS |

Helsinki, Sep 20 (IANS) Accelerating inflation is slowing economic growth in Finland, reducing the growth of the country's gross domestic product (GDP) to 0.5 per cent next year, according to the Finance Ministry's Economic Survey.

This year's GDP growth is projected at 1.7 per cent and the forecast for 2024 is 1.4 per cent, reports Xinhua news agency.

At a press conference, Mikko Spolander, director general at the ministry, described the forecast as "cautious" and stressed that the ministry's forecast does not predict a crisis or a collapse.

"The imbalance in public finances threatens to deepen. We could also face surprises, either one at a time or several at once, and we need to be prepared for that," Spolander said.

Also on Monday, the Research Institute of the Finnish Economy (ETLA) predicted that GDP growth this year would remain at 2 per cent before slowing to zero in 2023.

Latest News
Slack CEO to quit Salesforce in Jan 2023 Tue, Dec 06, 2022, 01:15 PM
After iPhones, Apple now plans to shift some iPad production to India Tue, Dec 06, 2022, 01:14 PM
Pakistan's Haris Rauf ruled out of Test series v England Tue, Dec 06, 2022, 01:13 PM
Neymar pays tribute to ailing Pele Tue, Dec 06, 2022, 01:12 PM
Brazil cruise past S.Korea 4-1; set up Last 8 clash with Croatia Tue, Dec 06, 2022, 01:10 PM
Tite hails Brazil's 'offensive boldness' Tue, Dec 06, 2022, 01:09 PM
Denmark saw record number of bankruptcies in Nov Tue, Dec 06, 2022, 01:08 PM
Turkish intelligence kills senior YPG member in Syria Tue, Dec 06, 2022, 01:07 PM
Violence, harassment at work affect nearly 23% of people globally: ILO Tue, Dec 06, 2022, 01:05 PM
Sweden's extradition of PKK member shows goodwill: Turkey Tue, Dec 06, 2022, 01:05 PM
Greek businesses, households shift to solar power amid energy crisis Tue, Dec 06, 2022, 01:04 PM
633 migrants rescued off Libyan coast in past week: IOM Tue, Dec 06, 2022, 01:03 PM
Diplomacy, foreign policy contributors honoured at UN with Diwali Foundation award Tue, Dec 06, 2022, 01:02 PM
Miscreants loot cash, jewellery worth Rs 30 lakh in Bihar's Samastipur Tue, Dec 06, 2022, 01:01 PM
'Flying Squad' formed to stop noise pollution in Goa Tue, Dec 06, 2022, 01:00 PM