ECONOMIC WOES: Finland is about to enter to a recession. Some of the latest prognoses came last week from Bank of Finland and the think tank PTT. According to BoF, they expect “Finland's economy to contract by 0.2 percent this year. This is a very slight improvement on the June forecast, which predicted Finland's economy would shrink by 0.4 percent in 2023.” Furthermore, “The long-standing upward trend in Finland's employment rate will decline to 77.9 percent this year, the bank forecast, down from 78.1 percent last year. Next year, the employment rate is expected to continue its decline to 77.7 percent, before rising to 78.0 percent in 2025.”
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Finnish News Recap, week 37: Ready for…
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ECONOMIC WOES: Finland is about to enter to a recession. Some of the latest prognoses came last week from Bank of Finland and the think tank PTT. According to BoF, they expect “Finland's economy to contract by 0.2 percent this year. This is a very slight improvement on the June forecast, which predicted Finland's economy would shrink by 0.4 percent in 2023.” Furthermore, “The long-standing upward trend in Finland's employment rate will decline to 77.9 percent this year, the bank forecast, down from 78.1 percent last year. Next year, the employment rate is expected to continue its decline to 77.7 percent, before rising to 78.0 percent in 2025.”