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S&P: Finnish growth outpacing expectations

The ratings firm predicts that economic recovery and structural changes will bolster Finland's public finances.

Standard & Poor'sin toimisto New Yorkissa.
Standard & Poor's is headquartered in New York. Image: Justin Lane / EPA

The US credit rating agency Standard & Poor's has decided to keep Finland's credit rating at AA+, its second-highest level, indicating a "very strong capacity to meet financial commitments". The company declares that Finland's future outlook is stable.

It adds that Finland's economic growth is exceeding expectations.

However, S&P argues that despite recent reforms, the country's economic growth may be held back by its demographic structure, somewhat inflexible wage practices and relatively high unemployment rate.

In late August, Statistics Finland pegged the jobless rate at 7.5 percent, edging down from 7.8 percent a year earlier.

The ratings firm predicted that economic recovery and structural changes will improve Finland's public finances, thus bolstering the nation's creditworthiness.

Last month another major ratings company, Fitch, announced that it would also maintain Finland's AA+ status with a stable outlook. Moody's, meanwhile, gives Finland an Aa1 rating with a stable outlook.

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