Finland: The economy in a free-fall – Handelsbanken

The coronavirus pandemic will hit the Finnish economy hard in 2020, according to economists at Handelsbanken.

Key quotes

“Even prior to the outbreak, data for the Finnish economy had started to soften slightly. Therefore, the starting point for the coronavirus crisis was weaker than previously projected.”

“The public sector debt level in Finland is set to increase drastically in 2020.”

“We forecast Finnish GDP to shrink by 10 percent in 2020, but rebound with 5 percent growth in 2021.”