Finland’s economy is doing as badly as Italy’s, with only Cyprus performing worse among the 28 EU states, according to the EU Commission’s latest economic forecast.
GDP in both Finland and Italy is forecast to contract by 0.4 percent in 2014, with small growth of 0.6 percent to follow in 2015.
The Eurozone’s GDP is set to grow by some 0.8 percent this year, according to the commission, with Ireland set to record the highest growth rate of 4.6 percent. That 0.8 percent figure is a reduction on the previous estimate of 1.2 percent—but the commission does forecast growth of 1.1 percent next year and 1.7 percent in 2016.
The figures for the EU as a whole are brighter than those for the Eurozone. This year the EU including countries outside the common currency will see GDP growth of 1.3 percent in 2014, according to the forecast, with 1.5 percent due in 2015 and 2 percent in 2016.
Finland's government faces a confidence vote in parliament this Friday on it's handling of the economy as opposition parties clamour for change in the country's economic policies.