Finland´s economic situation worries Stubb

President Alexander Stubb on Thursday expressed concern over the situation of Finnish economy and proposed to set three goals – peace, growth and caring- for this year.

“I am worried about the state of the Finnish economy. Geopolitical uncertainty and Russia’s war of aggression appear to be hitting our economy particularly hard,” said Stubb in his New Year’s Speech.

He said that Finns are good at setting goals for themselves and working hard to achieve them.

“I propose that we set three goals for ourselves this year – peace, growth and caring,” he said.

He underscored the need for a long-term approach and the broad consensus across Parliament on the debt brake stands as an example of responsible decision-making that helps build trust in the economy.

He said that often, it is a question of fundamental needs not being met.

“People are experiencing financial difficulties. Unemployment. Insecurity. Health issues. Domestic violence. Racism. We must do better,” said the President.

He said that society has a duty to support those who, for one reason or another, struggle to find their place in it.

“As fellow citizens, we have the responsibility to care, to help those who need it,” Stubb added.

The President also said that Finland and Europe aim to have functioning and peaceful relations with Russia but everything depends on Russia’s actions.

“Our relations with Russia have changed permanently. What remains unchanged is that Russia is our neighbour. Both Finland and Europe aim to have functioning and peaceful relations with Russia. But ultimately, it all depends on Russia’s actions,” Stubb said.

He said that Finland’s and Europe’s relations with the United States are in a state of transition and underscored the need for to be used to the new situation.

“We must get used to this new situation. Cooperation is indispensable to both sides. Examples of this from the past year include the icebreaker deals, defence cooperation and peace talks in Ukraine,” he said.

The President emphasised to strengthen international rules and institutions, and advance efforts to combat climate change.

“At the same time we must acknowledge that we do not always see eye to eye with the United States. It is in Finland’s and Europe’s best interests that we strengthen international rules and institutions, and advance efforts to combat climate change,” he added.

Speaking on the ongoing negotiations on Ukraine peace plan, the President said peace is often a compromise.

“We must be prepared to accept that there may be parts of an eventual peace agreement that do not align with our sense of justice,” said Stubb.

“However, we will do everything in our power to ensure that the independence, sovereignty and territorial integrity of Ukraine will be preserved. Ukraine is part of a free and democratic Europe. Now and in the future,” he added.

He also said that Europe must take more responsibility for its own future.

“It is often said that Europe has been overly reliant on Russian energy, American security and the Chinese economy. This statement is not far from the truth,” he said.

But at the same time, it must be acknowledged that major global challenges will not be solved only between Europeans or like-minded people.

The President hope to make the year of peace, growth and caring together.

“On behalf of myself and Suzanne, I want to wish you all a happy and meaningful New Year,” he concluded.