Accessible summary : The economy will recover from the pandemic, but even after recovery, growth will be slow

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Title: Accessible summary : The economy will recover from the pandemic, but even after recovery, growth will be slow
Organization: Bank of Finland
Series: Bank of Finland. Bulletin
Series volume: 94
Series number: 6/2020
Year of publication: 2020
Publication date: 15.12.2020
Pages: 4
Subject (yso): talouskasvu; bruttokansantuote; taloudelliset ennusteet; ennusteet
Keywords: COVID-19; koronakriisi; talousnäkymät; taloudelliset katsaukset
Other keywords: corona; economic outlook; economic growth; corona crisis; forecast; COVID-19 crisis; gross domestic product
Abstract: The economic recession caused by the pandemic has so far been milder in Finland than elsewhere in the euro area, but the coming winter will still be difficult. Vaccinations do, however, bring hope of an end to the crisis, both in Finland and around the world. COVID-19 will gradually be left behind in the course of 2021 due to the vaccines, and household consumption will drive growth of 2.2% in the Finnish economy. This will strengthen to 2.5% in 2022. At the end of the forecast period in 2023 the economy will be growing only slowly, as the conditions for growth in the Finnish economy in the long term are weak.
Note: The accessible version http://www.bofbulletin.fi
Link: http://www.bofbulletin.fi/
Rights: https://helda.helsinki.fi/bof/copyright


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