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Finland Trails Its Nordic Neighbors
Keywords:
As Finland based Nokia's business declines the foreign investment from Sweden and other countries that see Finland as a stable location for operations in the eurozone is increasing. Swedish paper maker Billerud AB invested 130 million euros in a Finnish forestry group as a way to shift costs away from krona which is strengthening to the euro. This is a significant advantage for Finland, a small country with only 5.4 million people, and only 17% of Finns see an exit from the euro as a good option during the eurozone crisis, according to MTV3. Growth of the Finnish economy is expected to slow. The government of prime minister Jyrki Katainen, is planning spending cuts and tax increases of 2 billion euros in 2013, or about 4% of the government budget to reduce its deficit.
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The closing of the 850 worker factory in Salo on Finland's southwestern coast. The decline to 10% from 25% of Nokia's manufacturing done inside Finland, and the overall decline of the ICT (information and communications technology) sector in the GDP of Finland.
Grouped Articles
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Wall Street Journal 06/20/2012
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Wall Street Journal 07/19/2012
Finland Trails Its Nordic Neighbors
Wall Street Journal 08/15/2012
Finland
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Grouped Articles
After Nokia, Can Angry Birds Propel Finland?
BusinessWeek 12/02/2010
Finland Trails Its Nordic Neighbors
Wall Street Journal 08/15/2012
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