STORY: Finland emerges from recession, public deficit to persist: Finance Ministry 
SHOOTING TIME: Sept. 24, 2024
DATELINE: Sept. 24, 2024
LENGTH: 00:02:30
LOCATION: Helsinki
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views of Helsinki

STORYLINE:

Finland is emerging from recession, but the public economy is expected to remain in persistent deficit, according to the latest forecast of the Finnish Ministry of Finance on Monday.
   
Nevertheless, the analysis report said the country will avoid triggering the European Commission's Excessive Deficit Procedure (EDP), a mechanism designed to ensure that EU member states return to or maintain discipline in their governments' budgets.
   
The report also projects the public sector deficit-to-GDP ratio at 3.7 percent this year and 3.2 percent in 2025. The Finnish government had committed to keeping the deficit ratio below 3.5 percent. Under EU guidelines, the ratio should remain below 3.5 percent this year and drop below 3 percent by 2025.
   
In a statement on Monday, Minister of Finance Riikka Purra said that the government is planning to bring the deficit ratio down to 2.9 percent next year, a target approved by the economic policy ministerial group on Monday.
   
The ministry's latest economic outlook also noted that while Finland has exited recession, growth expectations for 2024 have been slightly revised downward. The forecast for 2025 has been adjusted upwards.
   
The ministry anticipates a 0.2 percent contraction for 2024, a 1.7 percent growth in 2025 and a 1.5 percent growth in 2026.
   
Xinhua News Agency correspondents reporting from Helsinki.
(XHTV)