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Rising energy prices are driving up inflation

Employment rate will decline in the wake of faltering economy

Private consumption boosted growth in the second quarter

Finland’s economy will contract next year

Total goods exports to Russia

Exports of technology goods to Russia

Total goods exports to Russia

Sharp fall in external demand will be key contributor to reduced output in Finland

Inflation will rise considerably in the period 2022–2023 and slow down in 2024

Cost-competitiveness is not projected to change substantially during the forecast period

Robust growth is projected in different wage indicators throughout the 2022–2024 forecast period

Supply bottlenecks and high raw material prices are pushing up inflation

Number of hours worked remains below pre-pandemic levels

Employment level remains good, although the war is weakening the labour market

General government debt-to-GDP ratio will decrease further this year

General government deficit will be greater than before the pandemic

Current account surplus disappears in the forecast period

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