The leaders of the ruling coalition parties have been locked in, confronted and unable to agree on the budget for nearly a week as bad economic news continues to arrive.
Authorities say direct tax increases will be needed to finance the imbalance between revenue and expenditure.
Public debt relative to GDP will also grow in the coming years and is estimated…
Consumers’ expectations concerning the development of the general unemployment situation dropped to an even gloomier level and there was also more personal threat of unemployment or lay-off…
The fund warned that recovery is not assured while the coronavirus continues to spread, forcing shutdowns and preventing economic activity from returning to normal.
Finland’s general government deficit will grow substantially this year to about 18 billion euros, or 7.7% of GDP.
“The economy is at a turning point, as the epidemic has reared its head…