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Finnish finance ministry raises GDP outlook

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HELSINKI, Sept 27 (Reuters) – The Finnish economy will expand by 3.3% in 2021 and 2.9% in 2022, the finance ministry said in an economic outlook on Monday.

In its previous outlook published in May 2021, the ministry estimated that gross domestic product would grow by 2.6% in 2021 and by 2.5% in 2022.

After next year, the ministry estimates economic growth will slow down and lowered its growth projection from 1.5% to 1.4% for 2023.

“Finnish public finances have continuously been in deficit since 2009,” senior financial adviser Maija Paavonen said in a press conference.

She added that the government should start preparing for raising lending costs and for spending more due to its ageing population. (Reporting by Essi Lehto; Editing by Hugh Lawson)

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