Finland beating recession but deficit will persist: Finance Ministry ...Middle East

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Finland beating recession but deficit will persist: Finance Ministry
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Helsinki: Finland is emerging from recession, but the public economy is expected to remain in persistent deficit, according to the latest forecast of the Finnish Ministry of Finance. Nevertheless, the analysis report said the country will avoid triggering the European Commission’s Excessive Deficit Procedure (EDP), a mechanism designed to ensure that EU member states return to or maintain discipline in their governments’ budgets, Xinhua news agency reported. The report also projects the public sector deficit-to-GDP ratio at 3.7 per cent this year and 3.2 per cent in 2025. The Finnish government had committed to keeping the deficit ratio below 3.5 per cent. Under EU guidelines, the ratio sho

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