The economy of Finland has been showing rather disappointing results for the last one and a half year. For the second consecutive month there is a fall in the main economic indicators. In the first quarter, the gross domestic product declined by 0.1% in comparison with three previous months. The experts have no doubt about technical recession. On a yearly basis, the GDP of Finland fell by 2.1%. This indicator did not meet the forecast of the analysts, who expected it to slip by 0.1% on a quarterly basis and by 0.2% in annual terms.
One of recession reasons is a weak purchasing power of the euro area's countries, which greatly suffered from the crisis. For the account of demand decrease, the export and the manufacturing output dropped by 4% and 5.1% correspondingly. According to the European Commission specialists, Finland is one of the four eurozone's countries with debts below 60% of GDP. Even the country with the strongest economy in the EU, Germany, cannot boast of that, because its debts are estimated at 81% of GDP, and the average rate is 95.5%. Besides, unlike the German, the Finns managed to maintain the budget deficit within 3% of GDP. Moreover, Finland is still the only eurozone's country, which is rated at AAA with a stable outlook.
