Finland's economic growth slowing, inflation accelerating: Finance Ministry


HELSINKI, Sept. 19 (Xinhua) -- Accelerating inflation is slowing economic growth in Finland, reducing the growth of the country's gross domestic product (GDP) to 0.5 percent next year, according to the Finance Ministry's Economic Survey published here on Monday.

This year's GDP growth is projected at 1.7 percent and the forecast for 2024 is 1.4 percent.

At a press conference, Mikko Spolander, director general at the ministry, described the forecast as "cautious" and stressed that the ministry's forecast does not predict a crisis or a collapse.

"The imbalance in public finances threatens to deepen. We could also face surprises, either one at a time or several at once, and we need to be prepared for that," Spolander said.

Also on Monday, the Research Institute of the Finnish Economy (ETLA) predicted that GDP growth this year would remain at 2 percent before slowing to zero in 2023.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In World

Satellite images show military build-ups in Ethiopia, Eritrea - Maxar
Factbox-Russia's annexation plan in Ukraine: what happens now?
Podcasters are buying millions of listeners through mobile-game ads
Guinea 2009 stadium massacre victims hope for justice as trial starts
Italy's Meloni tells Ukraine it can count on her
Fighter jets escort Singapore Air plane over bomb hoax
Pakistan swears in Ishaq Dar as finance minister
Russian defence ministry says newly mobilised reservists begin training in Kaliningrad
Analysis-Truth or bluff? Why Putin's nuclear warnings have the West worried
Lula widens lead over Bolsonaro less than a week ahead of Brazilian vote -poll

Others Also Read