Russian crisis lowers Finland – Swedish newspaper Svenska Dagbladet

Fitch lowers forecast for Finland from “stable” to “negative,” according to a press release on Friday.

As the reason mentioned “sectoral blow to the electronic and paper areas” , ie problems such as Nokia, as well as “big fall in exports to Russia, Finland’s third largest trading partner.”

The assessment is shared of Sweden’s former finance minister Anders Borg.

– The Finnish situation is as serious as in Sweden and Finland in 1990-1991. Finland has a long march ahead of him, he said when he last week submitted a report on how the Finnish economy needs to be reformed.

As yet retains Finland top rating of AAA by Fitch. Credit rating colleague Standard & amp; Poor’s lowered already in the autumn its rating one notch, to AA +.

The example of Iceland shows that it takes time to regain lost confidence. After the banking crisis there in the 00s, the country according to experts recovered well. But the ratings remain low. Fitch raised its forecast in January to “positive”, but the score remained at BBB, the lowest in class “investable countries.”