Lack of economic growth, rising debt worry President

President Sauli Niinistö on Wednesday expressed concern over the lack of significant economic growth during the recent years and the increasing public debt of the country.

Speaking while inaugurating the spring session of the parliament for the last time, he also focused on the national and European security.

“Finland has not experienced significant real economic growth for 16 years. At the same time, the worryingly strong growth in public debt has continued. In maintaining our economy, we have adopted a permanently debt-based approach,” said Niinistö, who is scheduled to conclude his two six-year terms in early Match.

The President said he did not believe that anyone would raise their hand in support of continuing the current approach.

“But I do believe that the support for putting things right in our economy would be unanimous. In fact, that goal has won support many times over these years. And yet, here we stand,” he added.

Pointing out a quick comparison with other Nordic countries, he said that the Finnish economy is failing seriously and permanently.

“It will not change a thing if we keep on looking for culprits and remain solidly staunched in our positions. However, the situation could change if we took the bare facts and discarded all preconceived ideas and standard phrases,” Niinistö said.

The in his speech also said Europe is currently living in belligerent times.

“This is most concretely happening in Ukraine as Russia continues its aggression. But at the level of words, it is present all across the continent. Even, and perhaps particularly, in places, where security has been taken as a given for a long time,” said the President.

“There has been concern also in Finland. My response has been that we are not afraid, but we are awake. In the same way as we have been for many decades. This has been noticed also elsewhere: the Finnish model has gained admiration across the Western world,” he said.

He said that not so much for Finns having joined NATO, but for building own security.

“ The capabilities of the Finnish Defence Forces, the reserves, conscription, national defence work and the will to defend the country are highly regarded,” he added.

The President also held Russia responsible for its ill motive to weaken Finland’s border security

“Laws have served as the sword and shield of Finnish people for centuries. Now, attempts are being made to turn this sword against us. Russia uses people as an instrument in its efforts to weaken Finland’s border security, undermine our internal national order and generate discord,” Niinistö said.

The President also expressed his gratitude to the parliament for cooperation during his tenure as the President of the country and formally declared the opening of the parliament .

“I am now opening the Parliamentary term for the last time. I want to thank the Parliament for excellent cooperation over these years,” said Niinistö.