The Finnish economy will grow 2.9% in 2021 and 3.0% in 2022. Growth will be bolstered by private consumption and the recovering export markets. Long-term growth will, however, be weak. In 2023, GDP growth will slow to 1.3%.
If households spend the savings accumulated during the pandemic quickly, economic growth could be much stronger than estimated in the forecast for the Finnish economy for 2021–2023.
The financial position of households and businesses has on average remained good through the crisis, with the exception of the service industries directly impacted by COVID-19. Support measures have weakened the public finances.
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