The European Commission predicts that Finland’s public debt to GDP ratio will decline enough next year to bring it back within limits set by the EU’s Stability and Growth Pact.
The European Commission’s latest economic forecast for Finland, published on Thursday, notes that the country’s economic growth continues to be fuelled by private consumption and investment, supported by high confidence levels, rising employment and low interest rates.
Although the Commission sees Finland’s economy growing this year and next at a faster pace than the EU average, it has trimmed back earlier expectations. This latest forecast is for 2.5 percent growth in the Finnish economy in 2018, followed by 2.3 percent in 2019. The previous forecast was for be 2.7 and 2.4 percent respectively.