Helsinki (14.10.2015 - Heikki Jokinen) New clouds hover over the Finnish economy, the Labour Institute for Economic Research’s most recent economic forecast says.
During the first half of 2015 Finnish GNP has remained at the same level as last year. In the second quarter growth was estimated at 0.2 per cent, which is less than the European average.
According to the Labour Institute one the main reasons for such a weak growth is the steep decline in exports to Russia. Growth will come, but it will be slow and in large measure it will be fuelled by the upswing in construction and services.
Next year looks slightly more promising, according to Institute forecasts. ”Finnish GDP will grow this year by 0.4 per cent and next year by 1.2 per cent compared to the previous year. Next year also industry and exports will contribute to economic growth.”