The recession in Finland continues

Cruise with icebreaker MS METEOR on Lake Saimaa. © Photo: Dr. Peer Schmidt-Walther, caption: Stefan Pribnow

Frankfurt am Main, Germany (Weltexpress). Experts and critics know that the so-called Finnish state of capital is going downhill, not uphill. Only the stupid once again don’t understand anything.

The national debt is constantly increasing and is being driven from one historic record to the next by the rulers in Helsinki. From 11,195 euros per capita debt in 2000, it climbed to 30,937 euros in 2022. Incidentally, the debt is significantly higher than the average gross debt per inhabitant of the states that participate in the EU bureaucracy.

The budget deficit has also increased more and more in recent years.

In 2022, the inflation rate in Finland was around 7.17 per cent. According to Statista, it is forecast to be around 4.47 per cent in 2023. The last time the inhabitants of the Republic of Finland experienced galloping inflation was in the early 1980s.

Worse still, bankruptcies are a burden on citizens. Under the headline “Bankruptcies hit 25-year high”, “Yle.fi” (20.12.2023) reports that more companies called Kapitalgesellschaften “had to file for bankruptcy last year than in any other 12-month period in the last 25 years”, as it says in “Voice of Europa” under the headline “Finland records highest number of bankruptcies in 25 years” (20.12.2023). It is noted that the number of bankruptcies would be “even lower than the peak recorded during the depression in the 1990s”. Anyone who thinks this is comforting is out of their depth. Bankruptcies are not just about the sheer number of companies that go bankrupt, but about the size of the bankrupt companies, their bankruptcy assets and the sectors in which the bankruptcies occur.

When dozens of industrial companies go bankrupt, it is different from when hundreds of moose burghers go bankrupt. This is particularly true of the industrial sector, but also in the construction industry. Paper and pulp factories are also being closed, including the Anjalankoski plant. Further plant closures have been announced. Joining the Atlantic Pact war alliance, in which the VSA pools the vassal troops of its vassal states in Europe and issues orders, is not paying off. The opposite is the case. The loss of buyers in the RF and the CIS weighs more heavily.

Whoever closes the airspace to Russians should not be surprised if the airspace of the largest Russian state is closed to them. Fuel costs are also rising for Finnair and other airlines based in Finland. Experts and critics know that Finnair is the most affected, as Laura Frommberg points out on 16 April 2022 under the headline “Russian airspace closure – This is how big the detours are for Finnair, Lufthansa and Co.” in “Aerotelegraph”. The Helsinki hub is only turning slowly. The airlines that are allowed to continue using RF airspace are benefiting. This also applies to their hubs.

Alex Männer points this out in his article entitled “Finland – another top economy loses due to confrontation with Russia” in “RT DE” (27.12.2023) and cites further reasons for the departure: “Finland also turned away from Russian gas imports after Helsinki refused to settle payments for gas deliveries via pipeline from Russia in roubles and no longer in euros. Moscow had previously demanded this of its Finnish partners as a reaction to Western financial sanctions.”

Of course, every seller of goods has the right to determine not only the price, but also the currency in which the price is to be paid. The euro was yesterday. The rouble is the order of the day.

Russians will no longer be able to buy them, because holidaymakers from the Russian Federation with strong purchasing power are now in short supply in Finland. The recession in Finland, which wage earners at the Bank of Finland put at 0.5 per cent for 2023.

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