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Home BUSINESSEU forecasts slow economic growth in Finland
Tue, 06 May, 2014 12:06:54 AM
FTimes-STT Report, May 6

The European Commission on Monday forecasted a sluggish economic growth in Finland in 2014-15, lagging far behind the Eurozone average.

Only Cyprus is expected to experience an economic growth slower than that of Finland.

The EC forecasts the Finnish economy to grow by 0.2 per cent this year compared to a 1.2 per cent growth rate predicted for the rest of the Eurozone.

Next year, Finland’s economy is expected to gain pace with a 1 per cent growth rate while the rest of the Eurozone is forecasted to have a 1.7 per cent growth.

According to the revised economic forecast for Europe, Finnish exports that have benefited economic recovery in the region are expected to strengthen further in 2014-15.

A weak domestic demand, however, is expected to drag down economic recovery.

Finland’s debt is expected to reach 61.2 per cent of the GDP. The debt ceiling has been set by the EU Stability and Growth Pact at 60 per cent of the GDP.

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