Thursday, February 22, 2024

Prime Minister Olpo’s New Year’s speech: Finland’s debt level is dangerous | Eel News

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Prime Minister Peteri Orupo (NCP) pointed out that the economic outlook for next year has become even more bleak.

Finnish Prime Minister Petteri Orpo (NCP).

According to Prime Minister Petteri Orpo (NCP), the small Finnish nation has shown its strength on big issues by coming together. Image: Emi Korhonen / Lehtikuva

In his New Year’s address, the Prime Minister said, Peteri Olupo (NCP) warned about Finland’s debt levels. Olpo noted that the economic outlook for next year has become even bleaker.

“Finland is a country with dangerously high levels of debt. Approximately every 8 euros of expenditure finances new debt. Rising interest spending, the situation in counties providing welfare services, and essential defense needs This is an example of the huge expenditure required,” Olupo said. In his New Year’s greetings.

Olpo added that Finland needs space in the future to help people and businesses navigate the economy through difficult times. The government plans to reduce debt by 6 billion euros during its term.

Olupo said the government has already been forced to take new adjustment measures to secure funding for welfare services. Mr Olpo said the scope of the measures must be as broad as possible.

“The reduction in transfers from the central government to local governments must be covered within spending limits. We have already started looking for solutions,” Olupo said.

Olpo added that even in difficult economic conditions, Finland is investing in a better future by improving basic education, increasing spending on research and development, and reducing child waiting lists. Olupo said growth could be stimulated through regulatory and tax structural reforms that do not directly burden public finances.

Olupo cited historic levels of planned investment as a bright spot for Finland’s economic outlook.

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democracy must be protected

Mr. Olupo concluded by pointing out that Finland will hold both presidential and EU parliamentary elections in 2024. Olupo stressed that the opportunity to have a say in free elections cannot be taken for granted.

“Democracy is something we must actively defend. Democracy also means the freedom to dissent. In the coming year, I hope everyone will exercise this freedom constructively, with respect for others. I hope so,” Olupo said.

According to Olpo, the small country of Finland has shown its strength on big issues by coming together.

“Finland and Finns have coped even in the most difficult times, and we will continue to do so,” the Prime Minister asserted.

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