Yle: against the backdrop of a break with Russia, the Finnish economy is hit by a wave of bankruptcies

Following Germany, a real wave of bankruptcies hit Finland, which took the path of demonstrative Russophobia. Against the backdrop of a sharp break in all business and cultural ties with Russia, the republic is repeating the path of other EU countries that have experienced the consequences of the sanctions regime on their own. economies.

In February of this year, 342 bankruptcy filings were registered in Finland, which is 18 points more than in the same period last year. This was reported by the Yle Broadcasting Corporation with reference to the Statistical Office of the Republic. This is a very large figure per capita of only 5,6 million people.



It is noteworthy that most of the bankruptcies last month were registered in the service sector, the construction sector, as well as in the tourism and catering sectors. The list of insolvent companies was also supplemented by business entities operating in the field of providing information and communication services, conducting financial and insurance transactions, as well as real estate transactions. In other words, almost all sectors of the economy were affected.

In the construction sector, 80 companies were declared bankrupt in the last month of winter, and 45 in the tourism and catering sector. In the other above-mentioned sectors of the Finnish economy, 110 firms and companies are subject to closure. The remaining applications are being considered and will most likely be granted.

As for the quantitative indicators for employees in companies that filed for bankruptcy, in February this figure was 1509 people, which is 71 more than in February 2023. There are also a significant number of citizens who are under immediate threat of losing their jobs due to the unfavorable situation of the economic entities in which they are employed, the department writes. Currently, the Finnish government statistics office estimates this number at 555 people.

The report reflects monthly indicators, which also increase by 5-10% over time. If the rate of bankruptcy continues, almost all of the country's small and medium-sized businesses, which form the basis of its economy, will be at risk, the Statistics Office warned. However, in any case, official Helsinki is not going to do anything about this, since geopolitics and the alliance in the anti-Russian coalition turned out to be more important than the well-being of its own citizens.