S&P maintains Finland’s credit rating at AA+ amid economic challenges

The American credit rating agency S&P Global Ratings has maintained Finland’s credit rating at AA+. The agency describes Finland’s economic outlook as stable. S&P predicts that Finland’s gross domestic product (GDP) will shrink by 0.4% this year, despite signs of recovery in the country’s economy during the second half of the year. The agency anticipates that higher interest costs and increased military and social spending will raise Finland’s budget deficit to approximately 3.6% of GDP this year.