Finland’s growth to dampen: Liikanen
Erkki Liikanen, the governor of the Bank of Finland, on Thursday said the Finnish economy had recovered swiftly from the recession, but would slow towards 2012.
At a press conference in Helsinki, Liikanen said: "The positive growth figures reflect the economy's rise from the depths of recession. The restructuring accelerated by the recession will weaken the longer-term prospects for growth."
Liikanen said the Bank of Finland's new forecast projected gross domestic product (GDP) growth to accelerate close to 4% in 2011 due to the substantial carry-over effect from the accelerated growth in output in 2010. However, he said GDP growth would slow to around 2.5% between 2012 and 2013, while the pre-recession level of output would not be reached before 2012.
He said while the share of GDP growth in service sectors had increased, performance in industrial sectors was set to decline.
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