Funding and Green Projects Evaluation
MuniFin
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15
Economic outlook of Finland
.
Due to the Covid-19 outbreak, the Finnish GDP declined by
2.8% in 2020. Early containment measures, increased
public spending and diversified industrial base mitigated
the economic impact of the epidemic
⚫ GDP growth will resume this year driven by private
consumption and is projected to be 2.3 %
• Unemployment has risen relatively moderately as firms
have benefitted from temporary lay-offs to protect their
long-term productive capacity
•
Comparably low debt/GDP - even after the unavoidable
rise in debt due to the Covid-19 crisis
Sources: MuniFin, Ministry of Finance: Economic Survey Spring 2021, Statistics Finland
1.3
1.3
GDP Change (%)
2018
2019
-2.8
2020
3.0
2.3
2021F
2022F
Source: Statistics Finland and MuniFin
Unemployment rate (%)
-Inflation (%)
8.2
7.8
7.8
7.4
6.7
1.5
1.7
1.1
1.0
0.3
2018
2019
2020
2021F
2022F
Source: Statistics Finland and MuniFin
General Gov Debt / GDP (%)
General Gov Deficit / GDP (%)
5.4
4.7
2.9
0.9
1.0
69.2
71.6
72.4
59.7
59.5
2018
2019
2020
2021F
2022F
Source: Statistics Finland and Ministry of FinanceView entire presentation