Valtio katkaisee velkakierteens

Article Abstract:

The Finnish Government managed to squeeze Finland's budget proposal for 1999 into surplus by a couple of hundred million Finnish marks. The Finnish state will not need new loans to cover expenses, thus ending the circle of debt of the entire decade. Finland has accrued debt of over FIM 400bn (USD 74bn). The Finnish Prime Minister, Paavo Lipponen, estimates that the budget secures the continuance of growth and improvement of employment situation. The budget was balanced by cutting and postponing various costs. The expenses of the Finnish state total FIM 186.8bn. Debt will be paid off for FIM 200mn. The tax scale is 45.8%. The social benefits will not be amended. New road projects will not be started and the state's building projects will be postponed. The Government estimates Finnish economy to grow by 4% in 1999, prices to increase by 2%, unemployment rate to decrease to 9%, private consumption to increase to 4% and investments to increase by 6%.

Comment:

Finland: Government manages to squeeze its budget proposal for 1999 into surplus by a couple of hundred million Finnish marks

Public Finance Activities, Government expenditures, Fiscal Policy

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Merita haluaa Pohjolan osakkeista hyv n hinna

Article Abstract:

Finnish-Swedish MeritaNordbanken is prepared to sell their shares of Finnish Insurance Company Pohjola. MeritaNordbanken owns 12.3% of Pohjola's shares holding over 20% of the voting power. According to the Group Manager Hans Dalborg, the bank does not consider real estate and large stock investments as strategically important. According to Merita the Pohjola shares have been for sale for approx. a year. However, the situation is still open. According to Merita, the bank wants as good a price for the shares as possible.

Comment:

Is prepared to sell shares of Finnish insurance company Pohjola

Insurance, Insurance Carriers and Related Activities, Pohjola Insurance Company Ltd., MeritaNordbanken

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UPM myy paperistoryhm ns

Article Abstract:

Finnish UPM-Kymmene will sell their stationery group to Norwegian Fredrik Lindegaard . The stationery group consists of Walki Paperisto in Finland, Walki Paberisto in Estonia and Walki Erikson in Sweden. The businesses include the production and marketing of note pads, exercise books, dividers and files. The total annual turnover of the businesses amounts to Fmk 170mn (US$ 31mn), with 380 employees.

Comment:

Sells its stationery groups Walki Paperisto, Walki Paberisto & Walki Erikson to Fredrik Lindegaard

Stationery, Stationery, Tablet, and Related Product Manufacturing, UPM-Kymmene

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