This has driven the economy into recession for the past three years. The impact on growth and exports of the parallel structural declines of Nokia and the paper industry has been exacerbated by weak external demand, including from Russia and the euro area. Wage hikes in 2008--10 and weak productivity growth have hurt competitiveness. Rapid population aging is a further drag on growth. Pre-crisis current account surpluses have become deficits and the fiscal position has deteriorated. The nascent recovery is fragile and, absent reforms, medium-term growth will be much slower than before the crisis
Notes
"November 2015."
Bibliography
Includes bibliographical references
Notes
Online resource; title from pdf title page (IMF Web site, viewed November 17, 2015)
