Tag: Economic growth
The Bank of Finland’s mid-term forecast: the economy is at rest
Despite the difficulties, the Finnish economy has endured so far, but not all the effects of rapid inflation and rising interest rates have been seen. In addition, the risks of the international economy have increased recently,” says Meri ObstbaumHead of forecasting at the Bank of Finland. In 2022, Finland’s economy grew by 2.1% thanks to […]
Finland’s largest cities demand better cooperation with the state in immigration matters
The cities of Helsinki, Espoo, Tampere, Vantaa, Turku and Oulu have proposed the establishment of an alliance led by the prime minister, which would set goals for economic growth and employment development.
Finnish startup community chief economist Youssef Zad suggests increasing tax incentives to attract skilled labor
According to the report, tax incentives affect the migration of certain groups, such as top innovators in the patent industry and other high-income individuals. Youssef ZadThe chief economist of the Finnish startup community stated that several studies have shown that high-income immigrants and top innovators react strongly to changes in income taxation and R&D tax […]
Customs reports a 46% increase in tax revenue in 2022
According to Tom Fermi, the head of Customs’ customer relations and tax collection, in 2022 the share of customs duties in the entire tax base was approximately EUR 297 million, which is EUR 92 million more than in 2021. The increase was mainly due to increased imports. tariff. The European Union received 223 million euros […]
The Finnish economy is suffering from a technical recession and accelerating inflation
The financial consequences of the war in Ukraine have also affected the Finnish economy. From October to December 2022, the amount of Finnish exports decreased by 2.9 percent from the level of the previous quarter, while imports decreased by 2.4 percent. However, for the whole year, Finland’s economy grew by 2 percent compared to 2021. […]
Danske Bank updates its investment outlook: Stocks and bonds are weighted neutral
The increase in the neutral weight of stocks is due to the fact that the darkest clouds in the market have disappeared. Kivipelto, however, advises stock investors to be cautious about geographical diversification. “We are overweight in emerging markets. In addition, we still have a neutral weight on US and Japanese stocks. Regarding Europe, we […]
From good intentions to good actions
In September 2020, India and Denmark marked a historic partnership. By launching the first green strategic partnership of its kindthe two countries chose each other as preferred partners to accelerate climate solutions and combine economic growth with ambitious green policies. A good two and a half years later, the good intentions still contain plenty of […]
Denmark is among the best countries to launch a startup
Pretty vanilla in ManilaDenmark’s cost of living was also the highest among the countries in the top 10, while its quality of life score was second only to the Netherlands. Other metrics considered in compiling the index included population, GDP per capita. population, economic growth and business taxes. The top of the index was the […]
Etla: Finland should almost triple the net migration gain to 44,000
Statistics Finland has estimated that the annual net migration gain is currently around 15,000 people, and work-based immigration makes up the majority of immigration. Aki KangasharjuCEO of Etla, stated to STT on Friday. If immigration and emigration continued at the previous pace, the working-age population would shrink by almost a fifth by 2050, Etla warned. […]
Niinistö: We are used to a standard of living that has not been earned
He also expressed his confusion that the size of the indebtedness problem is not known and the need to change the line of economic policy. He believes that central banks are the root cause of the problem because they have implemented excessive asset purchase programs that have distorted public understanding of the realities of the […]
Finnish growth companies: Business subsidies should be redirected to research and development
R&D allocations in the state budget have recently increased. Source: Statistics Finland In the opinion of the Finnish Startup community, the goal is worthwhile, although not sufficient. Increasing R&D spending is easier by enabling and promoting the activities of the companies involved. New jobs are created in new growth-oriented companies. Solutions for long-term economic growth […]
Trade lobby: The retail growth spurt is over – now uncertainty lies ahead
The turnover of the domestic retail trade will decrease by around 2.5 percent this year and even more in 2023, according to the forecast of the Finnish Trade Association. The trade advocacy group said that if Finland and the rest of Europe drift into recession, trade will shrink even more. According to the group’s preliminary […]
OP: Consumers are changing their spending habits amidst the high prices of fuel and food
According to OP Financial Group’s bank card payment data, the recent rapid increase in prices has started to affect consumers’ purchasing behavior. Inflation has accelerated to the highest level in decades, which, according to the financial institution, caused consumers to buy less food and fuel this summer compared to last year. However, OP stated in […]
The euro fell to a 20-year low against the US dollar
According to the ECB, the euro has fallen by more than nine percent against the US dollar since the beginning of this year. According to S&P Global, the industrial purchasing managers’ index (PMI), which measures the direction of economic development in the euro area, fell to 52.1 in June from 54.6 in May. “While the […]
Ministry of Finance: Economic growth is slowing down, inflation is accelerating in Finland
“Building an economy on a more favorable and ecologically sustainable growth path that strengthens public finances requires the ability to compete successfully for investment among peers,” comments Mikko SpolanderDirector of the Finance Department of the Ministry of Finance. The economic outlook is overshadowed in particular by Russia’s war of aggression in Ukraine. The prolongation of […]
The Ministry of Finance warns of a recession
The Ministry of Finance released a weaker economic review on Friday, warning of more than previously expected slowing economic growth and accelerating inflation. It estimates that Finland’s GDP will grow by 1.4 per cent this year, but will slow over the next two years. The ministry forecasts growth of just 1.1 per cent next year […]
The Finnish housing market is falling
OP Financial Group and Nordea Bank forecast that the rise in house prices in Finland will slow down this year and next after the exceptional growth period of 2021. According to OP Bank’s recent forecast, changes in house prices will be between -0.5 and +0.5 percentage points next year due to a slowdown in interest […]
World Bank lowers global growth forecast for 2022 to 2.9 per cent, warns of risk of stagflation
According to the report, this increases the risk of stagflation, which could have detrimental consequences for both middle-income and low-income economies. According to the report, global economic growth is expected to slow from 5.7 per cent in 2021 to 2.9 per cent in 2022 and hover at around 1523-2024. Growth in advanced economies is projected […]
Aktia’s financial forecast: The time for strong growth is behind us
In Aktia’s economic forecast published today, chief economist Lasse Corin forecasts that economic growth will slow to 1.6 per cent this year and a modest 0.9 per cent next year. “The coronavirus pandemic and its economic effects have been left behind, Russia’s attack on Ukraine plunged into a new era of global economic uncertainty,” says […]
Research: Finland’s economic growth has slowed down due to a lack of labor mobility
“Today, the allocation of labor inputs in the Finnish business community is not as efficient as the allocation of capital. Targeting the workforce seems particularly inefficient for start-ups and small businesses, ”he commented Timo Kuosmanenthe professor appointed a principal investigator of the research at Aalto University. The purpose of the study was to find out […]
No, Australia has not fared well in handling covid-19
Recently, there have been significant comments from politicians and others that Australia has done well in the management of the covid-19 pandemic. For example, MP Josh Frydenberg sa i en statement: But with regard to mortality and economic performance, this argument is incorrect. The success of the government must not only take into account current […]
OP: Growth in the Finnish economy will slow significantly in 2023
The financial group forecasts that consumer prices will rise by 5.4 per cent in 2022 and 2.8 per cent in 2023. The war has so far had a much-anticipated effect on the Finnish economy: Finnish exports to Russia have fallen sharply and prices for some raw materials and capital goods have risen. Reijo HeiskanenOP Financial […]
Prices of old detached houses rose, inflation slowed sales in Q1
In contrast, in municipalities with a population of 60,000 to 100,000, the prices of old detached houses fell by 1.3 per cent. Prices remained broadly unchanged in municipalities with a population of up to 20,000. Sales of old detached houses fell by about 10 per cent year-on-year in the first quarter. Juho KeskinenThe economist of […]
In this way, greenhouse gas emissions can be reduced
They found that combining dietary change, emissions pricing and international income transfers could make the world food system emission-neutral by the end of the 21st century – while providing healthier food for the world’s growing population. “Reducing the size of our current food system alone will not reduce emissions much. Instead, we need to change […]
Start-up entrepreneurship became a goal in post-Nokia Finland: In the dissertation
In recent years, startups have become familiar to Finns thanks to the Slush startup event and successful Finnish companies such as Rovio, Supercell and Wolt. Startup entrepreneurship seems to many to be a passionate, creative technology entrepreneur who is renewing the Finnish economy and entrepreneurship. However, Henri Koskinen’s dissertation in the field of sociology shows […]
Prime Minister Modi urges Danish companies to invest in India
Berlin [Germany]May 3 (ANI): Prime Minister Narendra Modi and Danish Prime Minister Mette Frederiksen interacted on Tuesday with top executives in India and Denmark, and during the meeting, Prime Minister Modi invited Danish companies to invest in India, said the newly appointed Foreign Minister Vinay Kwatra. Kwatra held a press conference at the end of […]
Etla: 150,000 unemployed have no motivation to work in Finland
Etla has calculated that about 150,000 unemployed people in Finland are trapped in unemployment. The research institute defines an unemployment trap as a situation where taxes eat at least 75 percent of additional income on return to work. However, Kangasharju acknowledged that people behave differently and the threshold does not apply to all the unemployed. […]
The research institute almost halves Finland’s economic forecast
The Finnish economy is both directly and indirectly adversely affected by Western sanctions and the general reluctance to cooperate with Russia. Sakari LähdemäkiDirector of Laboratory Forecasting. “Directly through the drying up of Russian trade and indirectly due to the deteriorating economic outlook across Europe.” “Finland’s economic growth is maintained by private consumption and investment. The […]
The Ministry of Finance predicts modest economic growth in the shadow of the war in Ukraine
According to a forecast published by the Ministry of Finance on Wednesday, Russia’s attack on Ukraine will have a significant impact on Finland’s economic growth over the next two years. The Ministry’s figures predict that Finland’s gross domestic product (GDP) will grow by 1.5 per cent this year and by 1.7 per cent in 2023. […]
The member companies of the Finnish Startup Community are growing exponentially
In connection with the establishment of the Finnish Startup Association, a target of EUR 10 billion was set for the combined turnover of the member companies. 35% of the 2030 target has already been reached. The growth of the Finnish Startup Community (FSC) has been strong. The number of member companies has increased to 116 […]
Etla cuts the forecast for the Finnish economy by 2.1 percentage points
According to him, war hinders economic growth through at least three mechanisms. It increases financial uncertainty and potentially delays investment and recruitment decisions. Although uncertainty is also reflected in oil prices, the most significant adverse effect will come from economic sanctions on Russia. “This could be described as a shock to foreign trade caused by […]
An equestrian statue so long along the way that the king died and waited
Last year, a bust of the Danish monarch Frederik V was thrown into the Port of Copenhagen as a protest against Denmark’s previous role as a slave trade nation. But it was not the first time that a statue of Frederik V attracted attention. During his lifetime, his equestrian statue at Amalienborg Castle Square was […]
The Russian attack could upset the Finnish housing market
Russia’s attack is a risk to economic growth, but economists say the collapse of real estate in Finland’s major cities is short-lived. Until a few weeks ago, economists predicted that housing prices in Finland would rise by an average of 2.5 per cent this year. In January, OP Bank said that Finland was facing the […]
Employment continued to grow in Finland in January
The trend in the employment rate was 73.5 per cent and in the unemployment rate 7.0 per cent after the first weeks of 2022. Juho KeskinenEconomist of the Finnish Mortgage Association (Hypo), told me According to STT, the figures point to a strong momentum and rapid economic recovery in the face of the continuing threat […]
The good economic situation increased tax revenues in Finland in 2021
Markku HeikuraThe CEO of the Tax Administration said the increase was primarily due to the good economic situation and its positive impact on the income of both companies and individuals, as taxation as a whole did not increase from the previous year. “According to preliminary data, the economic situation in 2021 was very good despite […]
Report: Finland needs work-based immigration in every sector
According to a study commissioned by the Trade Union Confederation of Akava, an increase in labor migration would have a positive effect on the economy. The report provides alternative estimates of how different types and levels of immigration would affect a country’s GDP. "The message of this report is that labor migration is needed for […]
Nordea expects strong economic growth in Finland in 2022
“The recovery in service consumption will continue in later years, although rising inflation will erode consumer purchasing power,” the finance group said. its recently released forecast. It emphasized that housing construction is at an all-time high, with a total of 48,000 construction projects launched last year, an increase of 22% on the previous year. Construction […]
Consumer confidence in the economy increased in January
Consumers’ confidence in the economy improved in January compared to December 2021, according to Statistics Finland. However, confidence weakened a year ago. The consumer confidence indicator’s January result of -1.7 is in line with the long-term average. The CCI was -3.5 in December and 1.2 in November. In January last year, the confidence indicator was […]
OP’s forecast: Finland is facing the biggest economic boom since the late 1980s
According to the economic forecast published by OP-Pohjola Group (OP), Finland’s gross domestic product (GDP) will grow by 2.7 per cent this year, despite the challenges of a continuing pandemic and the emergence of the Omicron variant of the coron virus. OP economists predict that the increase in Covid infections will weaken Finland’s economic development […]
The idea of an Islamic welfare state is bigger than turning Pakistan into an “Asian tiger”, says Imran Khan
Lahore [Pakistan], January 1 (ANI): Pakistani Prime Minister Imran Khan said on Saturday that the idea of an Islamic welfare state is bigger than turning Islamabad into an “Asian tiger”. Speaking at the launch of the distribution of the national health card system – Sehat Card in Punjab province, Khan said that some leaders had […]
