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Thu, 21 Aug, 2014 12:07:06 AM Russia-Ukraine conflict affects economy FTimes-STT Report, August 21  Social Democratic Party, Chairman and Finance Minister Antti Rinne (center) exchange views with the local people at a market in Kuopio on Wednesday.Photo – Lehtikuva. The economic situation of the country now looks weak compared to the prediction made earlier, said Finance Minister and chief of Suomen Sosialidemokraattinen Puolue (Social Democratic Party of Finland) Antti Rinne at a meeting of the party’s ministers in Kuopio on Wednesday.
Rinne, also the deputy prime minister, said a new forecast on the economic situation will be available in mid-September.
The finance minister acknowledged that the deteriorating economic outlook is influenced by the crisis in Ukraine and the situation in Russia.
The minister, however, does not believe that the GDP growth is in the danger of going in the minus.
Rinne also responded to the Arto Satonen’s proposal to extend working hours. He referred to a measure undertaken in 1980s in which working hours were shortened to create more jobs.
In Rinne’s opinion, however, Satonen’s proposal is not an issue of the moment.
Arto Satonen, parliamentary group chair of the ruling Kansanllinen Kokoomus (National Coalition Party), proposed in his speech that working hours in the country should be extended to 40 hours a week from the current 37.5.
Rinne also noted that labour market organisations are currently negotiating on pension and industrial harmony.
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