Sweden 39,9% of GDP

Denmark 42,2% of GDP

Norway 41,4% of GDP

**Finland 69,2% of GDP**

[https://www.statista.com/statistics/269684/national-debt-in-eu-countries-in-relation-to-gross-domestic-product-gdp/](https://www.statista.com/statistics/269684/national-debt-in-eu-countries-in-relation-to-gross-domestic-product-gdp/)

31 comments

  6. Is this looking at the same figure for all, btw? That looks like whole public sector rather than government. Might be same for others, of course

  7. In recent history the Finnish people have been extremely poor compared to the Scandinavian countries. I mean the private people themselves, citizens, households, you know. Whatever you call them.

    This means that the governmental spending plays a much bigger role in the well-being of the nation and the national economy. I have a feeling that this results in the national debt increasing much more whenever there is a crisis of some sort.

    ​

    *E. Recently Finland has been prospering as well, maybe not gaining on the Scandinavian countries, but at least not being as poor as before. (Please remember that we are still discussing the private citizens.) I assume it will still take at least two adult generations, maybe more, until we’re on an equally comfortable level.*

  8. Some of it harks back to the Nokia buy out and the massive tax losses Finland then dealt with which then didn’t cover the welfare state costs as expected, fucking Microsoft..(rant over, just my opinion) that coupled with the economic crash which is really the main factor crippled us for awhile, just before that we had got it down to around 32% and in the decade after it went up to 73% which we are getting down which is why it is now around 67%.

    The vast majority of that is government expenditures at around 53% because of the particular system we have here and an aging population etc and the COVID hit screwing up the dept reduction plans. We have a strong manufacturing base which helps and a growing again service base and tough budget management polices should mean, with no more fuckups, that in a decade it should be around 40%

  9. I have no knowledge about econ, but they were on the wrong side of history for ww2, paying off the debt may have slow them in the process

  11. Incompetency of politicians who are part of hyvä veli verkosto, and Finnish economy really didn’t recover since 2008 and after Nokia’s demise. Finland earned the title of “sick man of Europe” in 2015 and 2016.

    https://www.telegraph.co.uk/finance/economics/11993040/Finland-emerges-as-the-new-sick-man-of-Europe-as-euros-worst-performing-economy.html

    https://www.bbc.com/news/business-35656150

    This should give you some idea: https://yle.fi/news/3-6713488

  15. Finland has the worst GDP output of them all. That is the main reason. We have a very small stockmarket and few quality firms.

  18. It’s still below EU and euro area average and on par with Germany. On this metric Finland has been one of the [top performers](https://ec.europa.eu/eurostat/documents/portlet_file_entry/2995521/2-21012021-AP-EN.pdf/a3748b22-e96e-7f62-ba05-11c7192e32f3) during corona crisis within EU.

    The ones crying corruption have nothing to estimate the effect of structural corruption on economy. Yes, there is some structural corruption especially in smaller municipalities. Then again that’s largely constrained to municipal politics, f.ex. land use.

    Why GDP/debt stays higher than in Scandinavia, hard to say. Stating that the economy hasn’t grown at the pace of those countries does little to explain the debt, and even less to explain what it means. Growth may well be a factor, but even then it’s like stating that your dough isn’t inflating because your yeast isn’t working – it does not explain any whys. And In addition to basic ins and outs of national accounting there’s a financial strategy to consider.

    I’m happy to read informed analysis about the subject should anyone have some to share.

  20. One thing that doesn’t seem to get mentioned is that we pretty much suffered through two economic crashes in a row, the 2008 great recession and another one in the 90’s when our biggest trading partner (Soviet Union) imploded and the new neighbor was all kinds of fucked up for at least 15 years, depending on what you define as “all kinds of fucked up”.

    Just look at this: https://countryeconomy.com/national-debt/finland
    A lot of people in this thread are pointing their fingers at stuff that make a small difference but are negelible compared to international events.

    Basically we’ve been stumbling from one crisis to another and now that the chart had started to even out after the great recession the world gets hit with COVID-19.

  21. According to this the last government debts auctiined with total sum of about a billion euros had rate of -0.75% and -0.76%. Have other countries similar rtaes on their loans.  https://www.valtionvelka.fi/uutinen/valtiokonttori-jarjesti-euromaaraisten-velkasitoumusten-huutokaupan-tulokset-6/?vkconsent=1#b65cba59

  27. Finland also has the lowest GDP per capita out of all the Nordic countries. Finland is just less wealthy than the others but tries to keep up.

  30. Because we are retarded, we are going throw 10Bn into some garbage planes…

    + Maintnance cost for more then 30yrs….
    Even giving the left wing this money would be more usefull…

    Previusly we threw away a similair amount on building shitty boats that will sink within 2 hrs of the war….

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