Finland moving higher
The Finnish economy is growing quicker than anticipated.
The country’s Central Bank now heightens its 2011 prognosis from an anticipated growth of 3,0 percent to 3,9 percent. In 2010, the country’s economy grew by 3,1 percent, after the catastrophic 8,2 percent decline in 2009. The Central Bank believes the economy in the years ahead will continue to grow steadily, with 2,7 percent in 2012 and 2,5 percent in 2013, newspaper Dagens Industri reports.
The main driving force in the economy is the export industry. Spurred by growth in the main trade partner countries Germany, Sweden and Russia, the Finnish national gross production is expected to grow by 3,6 percent this year, Yle reports.
Meanwhile, the Finance Ministry also warns about a growing budget deficit. If the current trend continues, then the government will incur some 32.5 billion EUR debt during the next electoral term, the Helsinki Times reports.
