Finnish govt cuts growth outlook for 2014

HELSINKI: Finland's finance ministry cut its forecast for growth for 2014 to 1.6 percent from previous 1.7 percent, citing the impact on its economy of uncertainties in the euro area. It forecast 2015 growth at 2.1 percent.

The government said last week that gross domestic product (GDP) growth should grow 0.4 percent this year, slightly lower than its previous 0.5 percent forecast in December.

The Nordic country, one of only four in the euro zone to hold a full set of triple-A credit ratings, on Wednesday launched additional cuts in its budget over the next three years, while cutting corporate taxes to soften the impact on the economy.