Finnvera Group Business Review and ESG Strategy

Economic Outlook of Finland (1st of Feb) 4,0 GDP Growth and Forecasts 2,0 • Economic growth has slowed in 2023 and is expected to remain muted in 2024 Transmission of monetary policy is fast in Finland due to widely used variable interest 0,0 -2,0 Actual MoF (fcast) BoF (fcast) -4,0 rates (usually Euribor rates) Labor market is still strong 120 2019 2020 2021 2022 2023 2024 2025 General Government Debt • Public debt is higher than in other Nordics, 100 90,9 but lower than Euro area average 80 60 • The direct negative effect on Russian 73,3 40 exports/imports has thus far been mitigated 20 Finland Euroarea 0 23 2000 2003 2006 2009 2012 2015 2018 2021 FINNVERA

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