Russian ambassador talks about unsuccessful attempts of Finland's economy to get out of recession

Finland is unsuccessfully trying to save its economy after the breakdown of relations with Russia. This was reported by Russian Ambassador to Finland Pavel Kuznetsov in an interview with RIA Novosti on February 8.

"The Finnish economy is trying to get out of the economic recession, but so far without much success. In 2024, according to preliminary estimates, Finland's GDP decreased by 0.5%, investments - by 6%. The total public debt is already 81% of the country's GDP," he said.

Based on the data of the Bank of Finland, he added that it is in the industries that used to rely on imports from Russia that costs have risen the most.

According to him, this resulted in a 16% increase in prices for finished products of these industries, which had a negative impact on exports. In addition, the number of bankruptcies of enterprises continues to grow in the country.

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January 29, it was reported that Finland has increased deforestation due to a decrease in timber imports from Russia. It is noted that the volume of logging of private forests in 2024 amounted to about 65 million cubic meters, which is 11 million more than in 2023 and 7.5 million cubic meters more than in the peak year of 2021.

Earlier, on November 28, economist Maxim Chirkov estimated, which he shared in a conversation with Izvestia, that as a result of anti-Russian sanctions, many European countries are balancing on the verge of recession. He expressed the opinion that the EU is unlikely to come up with anything new in this area and drew attention to the serious growth rates of the Russian economy.