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
People know who's 'uniting' country and who's dividing it: Bommai on 'Bharat Jodo' Thu, Sep 29, 2022, 04:46 PM
Yediyurappa hits out at Siddaramaiah for demanding ban on RSS Thu, Sep 29, 2022, 04:44 PM
New Zealand opens national wine centre to boost industry Thu, Sep 29, 2022, 04:43 PM
No budget surplus for at least 3 years: Aus Treasurer Thu, Sep 29, 2022, 04:42 PM
Had to pitch the ball in the right places and it worked well: Arshdeep Singh Thu, Sep 29, 2022, 04:08 PM
TRP scam spooks again: ED books 16 for money laundering; 'exonerates' Republic TV Thu, Sep 29, 2022, 03:55 PM
Cong prez poll: MLAs from MP to reach Delhi to back Digvijaya Thu, Sep 29, 2022, 03:32 PM
Kerala HC asks PFI to deposit Rs 5.20 cr for damage during bandh Thu, Sep 29, 2022, 03:30 PM
Yemeni govt receives UN proposal for 6-month truce extension Thu, Sep 29, 2022, 03:04 PM
S.Korean Prez, Kamala Harris share concern over N.Korea Thu, Sep 29, 2022, 03:00 PM
First NCW chairperson Jayanti Patnaik passes away Thu, Sep 29, 2022, 02:49 PM
Nadda in Odisha to address workers, visit Jagannath temple Thu, Sep 29, 2022, 02:39 PM
Surat will soon be known as 'Electric Vehicle city', says PM Thu, Sep 29, 2022, 02:18 PM
Digvijaya to file nomination for Cong prez polls Thu, Sep 29, 2022, 02:17 PM
Microsoft to discontinue SwiftKey on iOS devices on Oct 5 Thu, Sep 29, 2022, 01:37 PM