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Finland's economy falls back into recession in Q1
(MENAFN) Official data showed that Finland fell back into recession in the first quarter as its economy contracted by 0.1 percent from the previous quarter, The Peninsula Qatar reported.
However, the figure was better than analysts had expected, with Nordea bank for example forecasting a gross domestic product (GDP) decrease of 0.2 to 0.4 percent, statistics showed.
In the fourth quarter, Finland saw its economy shrink by 0.2 percent. After two years of recession in 2012 and 2013 and a year of stagnation in 2014, Finland's growth prospects appear weak.
"A well thought-out government program and an announcement of a permanent reversal of the tax hikes made in the last few years would be a good start," economists at Nordea said.
However, the figure was better than analysts had expected, with Nordea bank for example forecasting a gross domestic product (GDP) decrease of 0.2 to 0.4 percent, statistics showed.
In the fourth quarter, Finland saw its economy shrink by 0.2 percent. After two years of recession in 2012 and 2013 and a year of stagnation in 2014, Finland's growth prospects appear weak.
"A well thought-out government program and an announcement of a permanent reversal of the tax hikes made in the last few years would be a good start," economists at Nordea said.
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