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Tue, 24 Nov, 2015 12:06:31 AM FTimes – STT Report, Nov 24  File Photo – Lehtikuva. The country this year will witness zero economic growth, according to a forecast of Aktia bank released on Monday.
The bank, however, predicts a subdued growth of 0.5 per cent for next year.
Next year, the economic growth and an increase in exports will be supported by a projected pickup in international trade.
According to Aktia, cost competitiveness problems and a subdued demand for investment goods in the world market will result in a slow export growth.
Public debt is also expanding rapidly, said the report.
Aktia Chief Economist Heidi Schauman said due to the sluggish economy, next year will not see any decrease in public debt whatsoever.
The impact of adjustment measures implemented by the government to balance central government finances is, according to Aktia, diluted by an increase in earned income and government-spearheaded projects.
Aktia predicts that the government’s target of eliminating public debt will not progress in the weak economic climate.
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