Finland sinks into recession

HELSINKI, Feb. 28 (Xinhua) -- Despite Finland's gross domestic product (GDP) increased by 2 percent year-on-year in 2022, Statistics Finland said on Tuesday that the country has entered a recession, as GDP change was negative during the last two quarters of the year.

"GDP has turned downward, meaning that the technical definition of a recession is fulfilled. Finland is in recession in light of these data," Samu Hakala, head of Statistics Finland, said on Tuesday.