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Finland: Phoenix from the ashes - economy now burning on a lower flame

Author

Listed:
  • Oscar-Erich Kuntze

Abstract

After the hard landing in 2001 the Finnish economy expanded in 2002 at first quite lively, but from mid-year on economic growth lost momentum. The real gross domestic product increased by around 1.6%; the unemployment rate remained as high as before at 9.1%. This year GDP might increase by around 2%. On the labour market the situation will deteriorate first of all, and the unemployment rate will climb to almost 9½% for the year. Inflation will remain moderate at 1¾%. In 2004 GDP will expand by around 3%, the unemployment rate will fall to 9¼% , and price increases will still be moderate at 1¾%.

Suggested Citation

  • Oscar-Erich Kuntze, 2003. "Finland: Phoenix from the ashes - economy now burning on a lower flame," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(09), pages 37-45, May.
    • Handle: RePEc:ces:ifosdt:v:56:y:2003:i:09:p:37-45
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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