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News: 2012-09-20 13:52:00 UTC+00

S&P Sees Rising Risks To Finland's Growth

Deeper structural issues could affect Finland's growth prospects and complicate the government's policy response, Standard & Poor's said in a report on Thursday.

And if the crisis prompts the government to deviate significantly from its current fiscal consolidation path without addressing the need for reforms, Finland's fiscal situation would be adversely affected in the long-term, the agency noted.

That will place pressure on the euro area member's Triple-A credit rating, S&P warned.

"With its high levels of wealth, education, labor participation, and a relatively flexible economy, Finland (AAA/Negative/A-1+) benefits from multiple credit strengths," the agency said in the report.

"So in some ways it's surprising that the performance of Finland's economy, particularly its export sector, has not matched that of Germany (AAA/Stable/A-1+) or other Nordic sovereigns, most notably Sweden(AAA/Stable/A-1+)."

S&P sees rising risks to Finland's growth this year and next with the country's vulnerability to external factors threatening its recovery prospects. Domestic demand is also not expected to extend much support to growth.

Successful implementation of growth-enhancing structural reforms could be vital to Finland's prospects over time, the rating agency said. Such measures could alleviate the effects of adverse demographic shifts on the government's finances, it added.

Published: 2012-09-20 13:52:00 UTC+00 8 months, 4 weeks, 12 hours, 11 min. ago
 
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