Press

Vesala estimates that the country’s economy can expand by up to three per cent this year, despite the fact what he describes as demographic headwinds continue to constrain the long-term growth potential to no more than roughly one per cent per annum. Statistics Finland, he points out, has published preliminary data indicating that the gross domestic product grew by 1.6 per cent from the previous quarter – the highest quarter-on-quarter growth in over six years – between January and March. Several financial institutions have recently upgraded their growth forecasts for Finland. Vesala views that despite the upgrades the institutions continue to keep a lid on excitement over the growth data because macroeconomic indicators are susceptible to random fluctuations. (Helsinki Times)