HELSINKI: Finland will experience a sluggish economic recovery this year and 2017, according to European Commission report published on Friday.
Finland’s unemployment rate is expected above 9 percent over the next years. The overall economic productivity according the report will remain below the pre-crisis period. According to the Commission, structural reasons are mainly behind the slow growth. The Commission said that wages were not adjusted, but rather continued rising.
Furthermore, Finland lost competitiveness and export market shares. The sustainability of Finland’s public finances is at high risk in the medium term. The need to restore cost-competitiveness widely understood and the government wants to considerably improve Finland’s competitiveness.
