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Mon, 13 Oct, 2014 12:30:38 AM
FTimes - STT Report, Oct. 13
 
Finance Minister Antti Rinne during end of budget negotiations press conference at the Government Palace on August 28, 2014. Photo – Lehtikuva.
The Minister of Finance Antti Rinne is against immediate further cuts despite the downgrade of Finland's credit rating by rating agency Standard & Poor's, according to a report by Finnish language daily Helsingin Sanomat.
 
The minister warned against rushing to make new cuts before assessing the effects the saving measures which have already been agreed upon.
 
Rinne made the comments in Washington where he is attending the annual meetings of the World Bank and the International Monetary Fund (IMF).
 
Earlier, Prime Minister Alexander said the decision by Standard & Poor's to lower the Finnish credit rating indicates need for reform pointing out the billions of euros agreed in adjustment reforms as a necessary start.
 
According to Stubb, the government is looking for a workable solution to promote growth and productivity.
 
 
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