Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Finland’s economy to slip into recession

IANS
Updated: August 30th, 2023, 11:43 IST
in Business, International
0
Finland sinks into recession

Pic - IANS

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Helsinki: Finland’s economy is projected to enter a moderate recession within the next 12 months, according to a recent forecast.

In its forecast,  the OP Financial Group (OP), one of the largest financial companies in Finland, said Scandinavian country’s economy is expected to contract by 0.3 per cent in 2023 and remain stagnant in 2024, reports Xinhua news agency.

Also Read

Manchester celebrates Rath Yatra amid fanfare

2 hours ago
Kim Min-seok

South Korea’s National Assembly approves Kim Min-seok as PM

19 hours ago

OP Financial Group is made up of 106 OP cooperative banks and the central cooperative that they own, including its subsidiaries and affiliated entities.

Its previous forecast predicted the economy to grow by 0.3 per cent in 2024.

In a statement on Tuesday, the OP Financial Group said that construction and company profitability are heading for a sharp downturn, and investment outlooks remain bleak for this year and the next.

Additionally, exports are expected to decline both this year and the next, as growth in export markets slows down, it added.

Improvements in household income will not be sufficient to offset the impact of depleted savings and higher interest rates. Consequently, household consumption will not increase over the coming year, the forecast said.

“The Finnish economy has been moving towards a mild recession, but at a pace that can be described as a soft landing. Unfortunately, after this downturn, the economy faces an unstable foundation and a high degree of uncertainty,” said Reijo Heiskanen, chief economist at OP.

Heiskanen added that the economy continues to face exceptional risks and will take years to recover from the challenges it has experienced in recent years.

In June, the Ministry of Finance stated in its Economic Survey that economy would not grow this year due to rising prices and interest rates, which are reducing household consumption and investment.

The country’s GDP was projected to grow by 1.4 per cent in 2024.

Tags: EconomyFinlandRecession
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

slide 2 to 4 of 30
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019

Archives

Select Month

    Editorial

    Hungary Lessons

    Hungary
    July 2, 2025

    Revolting against oppression and seeking freedom is ingrained in human nature, something that a repressive regime finds out sooner or...

    Read more

    New Democratic Face

    Zohran Mamdani
    July 1, 2025

    US President Donald Trump, who had comfortably defeated his Democratic rival Kamala Harris in the recent presidential election and exuded...

    Read more

    Proof To Vote

    Vote
    June 30, 2025

    Months ahead of the Assembly polls in Bihar, the Election Commission of India (ECI) on 28 June launched a ‘special...

    Read more

    Genesis of Jana Sangh

    AAKAR PATEL
    June 29, 2025

    We marked the 50th anniversary of the Emergency a few days ago. Another anniversary, this time the 75th, went relatively...

    Read more
    • Home
    • State
    • Metro
    • National
    • International
    • Business
    • Editorial
    • Opinion
    • Sports
    • About Us
    • Advertise
    • Contact Us
    • Jobs
    Developed By Ratna Technology

    © 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST

      • News in Odia
      • Orissa POST Epaper
      • Video
      • Home
      • Trending
      • Metro
      • State
      • Odisha Special
      • National
      • International
      • Sports
      • Business
      • Editorial
      • Entertainment
      • Horoscope
      • Careers
      • Feature
      • Today’s Pic
      • Opinion
      • Sci-Tech
      • About Us
      • Contact Us
      • Jobs

      © 2024 All rights Reserved by OrissaPOST