Newspaper Helsingin Sanomat carried an editorial stating that Finland seems to be recovering, albeit slowly, from high levels of inflation.
Year-on-year inflation was just 1.2 percent in February, according to preliminary data from Statistics Finland's Harmonised Index of Consumer Prices. This index does not take into account housing costs or loans, but it is used as a basis for the European Central Bank (ECB) to calculate key interest rates.
In February of 2023, the same index measured inflation at 7.9 percent and overall inflation — including housing and loans — was over 9 percent at the end of 2022. Since then, inflation has gradually dipped back down more moderate levels.
The editorial goes on to say that the inflation issue is difficult for Finland to tackle because of the disconnect between the eurozone's monetary and member states' fiscal policies. The HS editorial argues that the European Central Bank's one-size-fits-all approach has made it difficult for Finland to achieve an optimal monetary policy to tackle inflation.
However, HS still pointed to some negative economic aspects of the Finnish economy. Finland's gross domestic product fell at the end of last year. Additionally, housing sales have stagnated, which in turn has frozen Finland's construction sector.
Strike disruptions
Tabloid Ilta-Sanomat covered the possible fallout of the upcoming political strikes organised by the Central Organisation of Finnish Trade Unions (SAK).
The strikes are set to begin next Monday, 11 March, with at least 7,000 workers involved in the walkouts.
Dockworkers belonging to the Finnish Transport Workers' Union (AKT) will restrict freight traffic at Finnish ports for two weeks. Rail freight services will also be impacted by the strike, but passenger rail should continue to operate normally.
The strikes may also disrupt liquid fuel supplies in Finland with workers from Neste's Porvoo oil refinery also participating. If the strikes go ahead, petrol stations will not be replenished for a fortnight. Some stations could run out of fuel, but that depends on factors such as their location, available stock and traffic.
Grocery stores are also preparing for the strike's impact on their shelves, particularly in relation to imported goods.
Jyrki Tomminen, K-Group's Logistics Director, told IS that grocery stores will try to unload imports from ports into their warehouses before the strike begins. Grocery stores said the strike may affect the availability of individual products, but substitutes should still be in stock.
Additionally, the strike may also restrict the availability of animal feed.
Helsinki Arena
Tabloid Iltalehti highlighted the biggest question mark in Helsinki real estate, the arena in Ilmala, formerly known as Hartwall Arena.
The arena has been vacant for over two years, and Ilta-Sanomat previously reported that a potential buyer had reached a deal that would close at the end of February. However, it appears that this deal with the Russian oligarchs will take longer to close than initially expected.
The Russian owners of the arena are currently under a myriad of EU sanctions, further complicating the arena's sale.
Helsinki Mayor Juhana Vartiainen (NCP) said that if the deal does fall through, the City of Helsinki is prepared to expropriate the property. If the Russian owners refuse to sell to the city, a long and unprecedented process lies ahead for the City of Helsinki in taking over the property.
"Such a thing has never been done in Finland. We have no way of knowing if it would work. And in any case it would take a long time, say a year or two," Vartiainen told Iltalehti.
There are other complications with the arena, such as a recent EU sanctions package permitting the sale of the arena by the end of June. In Vartiainen's view, the best option would be a voluntary private trade over a lengthy eminent domain process.
"That would be the fastest way to make the hall available to Helsinki residents," Vartiainen said.
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