News
The article is more than 4 years old

S&P maintains Finland's credit rating

The agency forecasts a 4.5 percent drop in GDP for Finland this year. 

Rekkojen perävaunuja Hangon satamassa.
Finland's export-orientated economy has been hit by the coronavirus pandemic. Image: Petteri Bülow / Yle
  • Yle News

Credit rating agency S&P Global Ratings has maintained Finland's credit rating at AA+, saying that it views the country's economy as stable.

The agency said it expects the Finnish government to continue stimulus spending next year, as the difficult economic situation continues, but to stabilise state debt at less than 40 percent of GDP by 2023.

In its statement S&P stressed the importance of structural reforms. Finland is struggling to deal with an ageing population and the resulting demand for services, combined with a smaller pool of taxpayers.

In 2021 S&P said it expects Finland's GDP to expand by 2.3 percent, followed by two years of growth at 1.4 percent.