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Home BUSINESSWeak economic growth forecast for 2015
Tue, 17 Mar, 2015 12:31:02 AM
FTimes – STT Report, Mar 17
Danske Bank's chief economist Pasi Kuoppamäki spoke at a press conference on Monday. Photo – Lehtikuva.
The current positive momentum in the global economy is slowly starting to be reflected in the country's economy.
Despite the momentum, a fragile economic growth in the country is predicted for the current as well as next year, according to the economic outlook by Danske Bank economists.
The improvement in the global economy is seen in the rise of industrial orders, according to Pasi Kuoppamäki, the chief economist at the Danske Bank.
The depreciation of the euro is expected to support the economic growth this year, and the net export will in turn raise the gross national product. The effects of the Russian economy will also be minimal in 2016, Kuoppamäki said.
Danske Bank is headquartered in Salmisaari, Helsinki, 16 March 2015. Photo – Lehtikuva.
The weak economic outlook will weigh heavily on consumers' caution, lack of investments and cuts in public sector.
However, the country would have witnessed economic growth had the Russian economy not been clumped.
The economists expect the economic situation to create substantial pressure on the incoming government regarding its fiscal policy and the need for structural reforms.
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