Finland improves economic growth forecast for 2021, 2022


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HELSINKI, Sept. 27 (Xinhua) – Finland’s finance ministry on Monday raised its forecast for the country’s economic growth for 2021 from 2.6 percent released in June this year to 3.3 percent, and from 2.8 percent to 2.9% for 2022.

The Finnish economy has been recovering rapidly from the COVID-19 crisis since spring 2021, the country’s finance ministry said in a press release on Monday, adding that growth is expected to slow in the coming years to reach 1, 4% in 2023.

The rapid recovery of the economy has been driven by three main factors: rapid progress in immunization; lifting of COVID-19 restrictions; and the strong confidence of households and businesses in the future, the ministry said.

The global economic recovery, the stimulus measures introduced by the European Union (EU) and the demand for Finnish products in important trade sectors are expected to further stimulate Finnish exports.

However, there are still reasons for concern, Mikko Spolander, director general of the finance ministry, said at a press conference here on Monday, saying the country’s aging population is sure to pose a question. long term problems.

“Long-term unemployment remains high,” Finnish national broadcaster Yle said, citing Spolander. “There are a lot of vacancies and the shortage of skilled labor has once again been highlighted as a constraint on economic growth.”

The main risks identified in the forecast are still linked to the COVID-19 pandemic and associated restrictions, the ministry said, adding that failure to control the pandemic in developing countries would weaken those economies, which in turn would weaken those economies. would significantly hamper the global economy. growth.

“A prolonged pandemic would reduce private consumption and especially the demand for services, which would undermine economic recovery,” the ministry said.

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