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Fri, 03 Apr, 2015 01:12:36 AM FTimes-STT Report, April 3  Eero Lehto, the head of forecasting at the Labour Institute for Economic Research. File Photo Lehtikuva. The Ministry of Finance’s economic growth outlook for 2017 to 2019 has been deemed too pessimistic by Eero Lehto, the head of forecasting at the Labour Institute for Economic Research.
Lehto pointed out that the Ministry in its outlook does not take into account the recovery of the ICT sector following Nokia's downturn, the production capacity of the forestry industry and growth of the Russian economy.
According to Lehto, these three factors can contribute to a faster economic growth than, for instance, that of Germany for the period 2017-2019.
Furthermore, Lehto explained that Russia's economic situation will normalise towards the end of decade as oil price will increase and the Ukrainian crisis will no longer weigh on the economy. In addition, the fall in the Russian Ruble has improved the country's competitiveness.
Lehto believes that Finland's economy will grow by two percent or more in the period 2107 to 2019.
The Ministry of Finance forecasts the economy will grow at 1.5 percent or less in the same period. More News
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Finland Times
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