Finnish economy – Bank of Finland Bulletin

From significant recession towards growth

The Finnish economy is still in recession. The recession has reached its lowest point, and a gradual recovery is expected to begin towards the end of 2024.

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Finland’s economy is in recession and the recovery will be slow

Alternative scenario: Higher interest rates are slowing inflation and economic growth in Finland

Correcting the course of the public finances even more challenging than expected

Current account will remain in deficit

Subdued outlook for Finnish economy – Solutions required to long-term challenges

Pick-up in the economy not expected soon

Forecast tables for 2023–2026 (December 2023)

Economic recovery will be delayed

Finnish households’ purchasing power is improving – The economy’s long-term challenges are acute

From shallow recession to moderate growth

Alternative scenario: Core inflation could be higher than anticipated in the immediate years ahead

Savings help households cope with rising interest rates

Corporate profits not indicating changes in firms’ pricing strategies

Growth in Finland’s economy close to zero this year

Forecast tables for 2023–2025 (June 2023)

Finnish economy in hibernation

Finnish economy set to slide into recession

Household consumption could be hard hit in the energy crisis

Finland’s crisis-hit public finances need strengthening