Aktia also forecast that next year’s economic growth will be weak. Aktia expects a growth of only 0.5 per cent and estimates that the employment situation will further weaken.
The European economic growth will continue to lag, weakening Finnish export prospects.
Similarly, the weakening Russian economy will also hit the country, points out Aktia.
Still, according to the Aktia estimation, direct effects of the Russian counter-sanctions in the country are minimal. However, if the situation prolongs for a year, the effects can multiply.
The effects of the sanctions is estimated by the bank to shrink the Finnish economy by 0.5-1 per cent this year and next.
