June 16, 2020 / 8:12 AM / a month ago

Finland's finance ministry sees 2020 GDP down 6% vs April forecast of 5.5% contraction

HELSINKI, June 16 (Reuters) - Finland’s Finance Ministry expects the economy to contract 6% in 2020 due to the coronavirus outbreak, it said on Tuesday, in a further cut to its previous estimate of 5.5% contraction from April.

But the ministry raised its GDP growth forecast for 2021 to 2.5% from 1.3%, and to 1.7% from 1.3% in 2022.

Earlier on Tuesday, Statistic Finland said Finland’s gross domestic product fell 7.9% in April year-on-year. (Reporting by Anne Kauranen; Editing by Alex Richardson)

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