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Home BUSINESSFinland credit rating may face danger after 2015
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Mon, 29 Jul, 2013 03:36:03 AM
FTimes-STT Report, July 29
File picture. Photo - AFP / Lehtikuva.
The country’s present excellent credit rating may deteriorate sharply after a couple of years due to the downward economical trend and gradually increase of public debt, feared experts.
The economic researchers said that the present three A credit limit of Finland would not fall immediately but it might face dangerous situation gradually after 2015.
“The public debt should not cross the 60 percent of the gross domestic product but Finland´s debt will cross the limit of  60 percent in 2015,” said business researcher Markku Kotilainen, adding that the bank loan of the country would increase to 62 per cent of the gross domestic product.
Markku Kotilainen said that the increase of the credit limit would affect the credit rating seriously.
The researcher warned that the decrease of credit limit would increase the interest rate and crossing the limit of 60 percent of GDP would prompt the European Union to bring Finland under inspection.
“In that case EU would give instructions to Finland,” said Kotilainen, adding that if the instructions issued by the EU are not followed, Finland would get sanctions.
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