OECD Economic Outlook, Volume 2020 Issue 1
The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.
Coverage is provided for all OECD member countries as well as for selected non-member countries. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.
Finland
The COVID‑19 pandemic has pushed Finland into a deep recession, with private consumption and investment as well as exports plunging in the first half of the year. In the event of a second virus wave, GDP is projected to fall by 9.2% in 2020 and to increase by only 2.4% in 2021. Absent a second virus wave, the decline in GDP will be smaller and the subsequent increase greater. A gradual recovery will be led by exports and consumption. Investment will be slower to recover owing to weakened balance sheets, low capacity utilisation and high uncertainty. Unemployment and bankruptcies will soar, although less so should there be no need for another shutdown.
Also available in: French
- Click to access:
-
Click to download PDF - 426.11KBPDF