File Photo – Lehtikuva.
The country’s leading bank Nordea does not see a clear economic growth taking off in the near future.
According to a recent economic outlook by the bank, the Finnish economy will shrink this year for the fourth consecutive year.
The forecast by Nordea points out that the economy will grow by a meagre 0.3 per cent.
About a week ago, other Finnish banks, OP Pohjola and Aktia, in their respective forecasts said the economy is set for further decline this year; however, frail growth is expected next year.
Nordea forecasts that the economic growth will stretch and structural problems will keep economic growth at a stunted 0.5 per cent in 2016 and 2017.
Nordea economists believe the country’s credit rating will plummet, if the government programme is not implemented and if significant substitute reforms are not found in place of the social contract.
