Standard&Poor's affirms AAA credit rating for Finland

Finland’s competitive economy and prudent macroeconomic policy record underpin excellent credit rating.

Standard&Poor’s Rating Services affirmed its AAA long-term and A-1+ short-term sovereign credit ratings for Finland. Finland’s competitive economy and the government's prudent macroeconomic policy record have supported a strong fiscal balance sheet and high levels of prosperity, according to Standard&Poor's.

Although Finland’s budget deficit is expected to widen from last year’s 2.7% to 3.2% this year, Finland's fiscal deficit and debt levels are lower than for most AAA rated sovereigns. Standard&Poor's believes that Finland is likely to undertake a steady consolidation of its public finances over the next few years.

Finland’s public finances have benefited from the government's conservative budgetary policy, historically robust economic growth, and a surplus position in the national social security fund, according to Standard&Poor's. Finland has also seen a clear return to economic growth, boosted by recovering export markets.

Source: Standard&Poor’s