Uncertainty weighs on economic growth – Finland has adjusted well to occupational restructuring

The Labour Institute for Economic Research has lowered its forecast of Finland’s economic growth for the current year from last autumn’s 2.4 per cent to 1.4 per cent. Uncertainty in the international economic outlook will slow Finland’s economic growth, particularly this year. If the worst threats do not materialise, growth will pick up slightly next year to 1.5 per cent. Export growth, which came to a halt last year, will recover and growth in private consumption growth will also provide support to economic growth. In general, Finland has adjusted well to occupational restructuring, but it may be difficult to find means to employ older workers who only have basic education.

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