Finnish GDP growth in 2022 will be 2.9% – Ministry of Finance

The economic situation in Finland is improving after the recession caused by the coronavirus pandemic, the country’s GDP will grow by 3.3% by the end of the year and by 2.9% in 2022, according to the forecast published by the Finnish Ministry of Finance on Monday.
“The economic recovery will continue in the fall, especially in sectors currently subject to COVID-19 restrictions. As a result, economic growth will remain strong in the second half of the year and continue into 2022. The gross domestic product (GDP) is projected to grow 3.3% this year, 2.9% in 2022 and 1.4% in 2023, ”the ministry said.
Experts do not expect the economic recovery to slow in the event of a potential deterioration in the situation with COVID-19, even if the opening of society is slower than previously thought.
The global economy will quickly recover from the COVID-19 pandemic thanks to financial incentives, a decrease in lagging consumer demand and progress in vaccinations, according to Finland.
“The euro area will continue to grow rapidly as restrictions are lifted and demand for services increases. In the United States, tough stimulus measures have led to rapid growth in private consumption, ”the Finnish Treasury said.
Foreign trade in services is expected to show a sharp increase in 2022, thanks to strong activity in such pandemic-stricken industries as travel and tourism, after the lifting of restrictions and the disappearance of uncertainty, Finland is confident.