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Home BUSINESSGDP to grow 0.2% at year end
Sat, 19 Dec, 2015 02:41:11 AM
FTimes- STT Report, Dec 19

The country's GDP will grow by a meager 0.2 percent at the end of this year, according to the Ministry of Finance’s economic outlook published on Friday.

The economy is, however, forecast to grow by 1.2 percent in 2016 and 2017.

According to the ministry, the public debt is surpassing the 60 percent threshold and the debt ratio is not leveling off for the forecast period.

The value added of domestic industries is forecast to shrink by two percent this year, but it is expected to grow by 2 percent in 2016 and by 3 percent in 2017.

The domestic risks, according to the ministry, continue to be associated with the development of real economy and the labour markets.

“It seems that in the coming years Finland's economy will remain behind competing countries. The favourable development of the real economy is a necessary condition of sustainable improvement of the state public finances. It should be emphasised that economic development similar to the once forecast does not in itself improve significantly that state of public finances in Finland,” said the statement from the Ministry.

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