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.
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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.
Based on an analysis by the Bank of Finland, the introduction of a debt-to-income cap would have only a moderate impact on long-term economic growth. A debt-to-income cap could dampen economic fluctuations when compared with the current loan-to-value cap.