Category: finland
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Producer Prices for Manufactured Products Increase by 3.8% in Finland in March 2023
Producer prices for manufactured products increased by 3.8% YoY in March 2023, with domestic market prices rising by 6.7% and export prices rising by 0.9%. The rise was driven by higher prices for food products, paper and paper products, and electricity, while lower prices for oil products, iron and steel, and timber curbed the increase.…
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Finland’s General Government Shows Improvement in Financial Position, but Debt Remains High in 2022
Finland’s general government deficit was 0.9% of the GDP in 2022, and its debt was 73% of the GDP, according to preliminary data reported by Statistics Finland. General government debt grew by EUR 12.8 billion, while the financial position of the general government improved by around EUR 4.5 billion from the previous year. Central government’s…
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BOFIT forecasts China’s GDP to reach 6% in 2023, but growth may slow down in the coming years
BOFIT forecasts China’s GDP growth to reach around 6% in 2023, supported by the reopening of the economy and recovery of the real estate sector. However, the factors limiting growth, such as a shrinking labor force, aging population, and high debt levels, still remain. Real estate investments are not expected to be a reliable source…
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Preliminary Study on State Monopoly System for Gambling in Finland Reveals Significant Losses Outside Monopoly System
A preliminary study on the monopoly system for gambling in Finland has been completed and submitted to the Ministry of the Interior. The study aimed to provide a comprehensive overview of the current state of affairs and explore alternative models for the gambling system to support political decision-making. According to the study, approximately 5-6% of…
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Government seeks public comments on proposal to include nicotine pouches under Tobacco Act regulations.
The Finnish Government is seeking comments on proposed amendments to the Tobacco Act that would include smokeless nicotine products, such as nicotine pouches, in the same category as tobacco products. The proposal would make it illegal to sell, supply, or import these products, except for a few exceptions, and would also ban their use in…
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Finnish Residents’ Leisure Trips Abroad Tripled in 2022, Replacing Domestic Trips Lost to Pandemic
According to Statistics Finland, the number of domestic leisure trips made by Finnish residents in 2022 fell to the pre-pandemic level of 2019, while the number of leisure trips abroad tripled from the previous year. The total number of leisure trips with overnight stay in Finland and abroad was almost the same in 2021 and…
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Total energy consumption in Finland decreased by 5% in 2022, according to Statistics Finland.
According to Statistics Finland’s preliminary data, the total energy consumption in 2022 decreased by 5% compared to the previous year, amounting to 1.3 million terajoule (TJ). The decrease was mainly due to the mild weather and the Paperworkers’ Union’s strike at the beginning of the year, which reduced the demand for energy. Additionally, the impact…
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Russian invasion of Ukraine prompts active period for Finnish Military Intelligence
The Finnish Military Intelligence Review 2023 offers an update on the country’s operating environment, specifically regarding the impact of Russia’s invasion of Ukraine in February 2022. The review highlights the importance of military intelligence in providing early warning on potential military events and threats facing the country. The Finnish Defence Forces aim to secure the…
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Police Crack Down on Reckless Drivers and Drink-Drivers during Easter Traffic in Finland
During the Easter holidays, the police in Finland monitored traffic in congested areas for outbound and return traffic. A total of 105 cases of aggravated endangering of traffic safety were recorded, with most of them occurring in Southern and Central Finland. While 20 people were injured in road traffic incidents, no traffic fatalities were reported,…
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Finnish Defence Forces Join Aurora 23 Exercise in Southern Sweden to Enhance Interoperability and Cooperation
The Finnish Defence Forces will participate in the Swedish Armed Forces’ main exercise Aurora 23, which will take place in Southern Sweden from 1 to 11 May. Over 1,000 soldiers from the Army, Navy, Air Force, and Defence Forces Logistics Command will take part in the exercise. Aurora 23 is the largest exercise organized in…
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Bank of Finland’s Imputed Interest Margin: Impact of Interest Rate Hedges and Reference Rates on Housing Loans
The Bank of Finland calculates an imputed interest margin on new housing loans, housing corporation loans, and non-financial corporation loans. The imputed interest margin is the difference between the agreed annual interest rate and the monthly average of the reference interest rate, but it includes interest rate hedges purchased by households if they involve fees…
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Finnish Defence Forces Acquire New Ski Equipment for Northern Troops to Enhance Winter Mobility and Combat Readiness
The NATO Supply and Procurement Agency (NSPA) has completed a competitive tendering process for new ski equipment that meets the requirements of the Finnish Defence Forces. The Defence Forces Logistics Command will acquire over 8,000 pairs of ski equipment, including skis, bindings, and spare parts, for the Ground Forces’ northern troops, with a total value…
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Insights into Finland’s Government Formation Process: Talks, Programmes, and Parliamentary Confidence
The process of government formation in the context of parliamentary elections involves discussions among parliamentary groups to agree on a new government programme, the number of ministers, ministerial portfolios, and division of responsibilities. The leader of the preliminary discussions presents questions to ascertain parties’ views on key issues, and based on the responses, certain groups…