Accessible summary : Pandemic eases and economy begins to grow

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Title: Accessible summary : Pandemic eases and economy begins to grow
Organization: Bank of Finland
Series: Bank of Finland. Bulletin
Series volume: 95
Series number: 3/2021
Year of publication: 2021
Publication date: 15.6.2021
Pages: 5
Subject (yso): talouskasvu; ennusteet; taloudelliset ennusteet; epävarmuus; kotitaloudet (organisaatiot)
Keywords: Suomi; COVID-19; korona; koronakriisi
Other keywords: COVID-19 crisis; economic growth; forecast; households; uncertainty
Abstract: The COVID-19 pandemic will ease due to the vaccination programme, and as a consequence the Finnish economy will start to grow at a brisk pace. As the COVID restrictions end and uncertainty decreases, households will be able to consume more freely. With economic growth also strong globally, this will give a fillip to Finland’s foreign trade. The pandemic is, however, not yet finally over. There is still the threat that it could worsen again, and this casts a shadow over both the growth outlook for Finland and that for the global economy as a whole. The Finnish economy will grow 2.9% in 2021 and 3.0% in 2022. The rapid growth will, however, be temporary, and the pace will slow to 1.3% already in 2023.
Note: The accessible version

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