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Finland must do more than hope for the best and wait passively for growth, Prime Minister Alexander Stubb (NCP) writes in a column published in Dagens Industri.Prime Minister Alexander Stubb (NCP) has inspired confidence in a better future for Finland by vowing that with time and patience the country will make a comeback.

Stubb in a column published in Dagens Industri, a Swedish financial newspaper, also estimates that the lingering downturn will last another three or four years. “But with Finnish perseverance we will come back,” he writes.

The decision by Standard & Poor's to downgrade its long-term sovereign debt rating on Finland by one notch to AA+ has prompted two distinct reactions in Finland, according to Stubb. Some belittle the situation, whereas others view that Finland must adopt structural measures to facilitate economic growth.

“It is high time that our only approach to the economic depression is not to hope for the best and wait passively for growth. Our problem is both structural and related to fluctuations.”

Mari Koppinen – HS
Aleksi Teivainen – HT
Photo: Sabrina Bqain / HS