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PM cautionary on Finland maintaining triple-A credit rating

Although Finland has kept its triple-A credit rating, Fitch credit ratings agency revised its long-term economic outlook for the country from stable to negative. Prime Minister Alexander Stubb says that without definitive action, Finland could also stand to lose its triple-A credit rating.

Alexander Stubb saapumassa EU:n kokoukseen Brysselissä rinta rottingilla 20. maaliskuuta.
Alexander Stubb saapumassa EU:n kokoukseen Brysselissä 20. maaliskuuta. Image: Stephanie Lecocq / EPA

According to Prime Minister Alexander Stubb, it's good news that Finland has retained its triple-A credit rating.

However, Stubb was quick to caution that without resolute decisions the top credit rating may not be retained in the future. He stressed the importance of balancing state and municipal expenditures and undertaking bold changes to increase employment during the next political term.

"Alongside adjustments we definitely need to make structural changes," said Stubb. "Pension reforms must be submitted to parliament without delay, and social and health care reform must be undertaken. Labour market organisations have agreed to some long-term, employment-creating wage settlements. However, this is not enough. Action is still needed to increase both labour demand and supply," he said.