HELSINKI: OP Bank’s chief economist Reijo Heiskanen announced the economic forecast of the year 2016 in Helsinki on Monday.
Both OP Pohjola and Aktia banks predict further decline in the Finnish economy this year. Next year, however, they predict a slight improvement. According to OP, the Finnish economy will shrink by 0.3 per cent this year, but next year, it will grow by 0.8 per cent.
The chief economist of the bank, Reijo Heiskanen said the Finnish economy is facing the pressure of Russia’s recession and the weak growth in world trade.
“Subdued international investment demand is like poison to Finnish exports,” remarked Heiskanen.
Chief Economist of Aktia Bank Anssi Rantala, presented the financial review in Helsinki on Monday. According to OP, the world’s economic growth will continue to be sluggish with no substantial recovery in sight. Aktia Bank’s assessment of the situation in Finland in the near future is harsher.
According to Aktia, the Finnish economy will shrink this year by 0.5 per cent and will increase only 0.5 per cent next year.
