HELSINKI (Reuters) – Finland has canceled planned bond auctions for the remainder of the year and is on course to cut debt in 2018 for the first time in a decade, the finance ministry said on Sunday.
Government debt was previously expected to increase by 1.3 billion euros this year but according to an update by the state treasury it will come down by 0.9 billion euros to 104.9 billion euros ($119 billion).
Finland - Debt - Time - Years… - Turn
“Finland will be able to reduce debt for the first time in 10 years… This temporary turn is a significant thing psychologically,” Finance Minister Petteri Orpo said on his Twitter account.
“But the pace of reform in the economy must not slow down,” he added.
Debt - Reduction - Things - Growth - Output
The debt reduction is due to several things, including growth in output and employment, payments to the state from Finnish Export Credit Agency and sales...
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