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  • The Finnish government announced its largest ever emergency budget on Wednesday, allocating 4.1 billion euros ($4.5 billion) to help deal with the fallout of the coronavirus crisis. Support for businesses and workers will be increased by one billion euros, Finance Minister Katri Kulmuni told a press conference at the end of two days of talks between the centre-left coalition parties. Employment ministry figures showed on Wednesday that the crisis had so far seen 100,000 workers temporarily laid off and almost 400,000 jobs in danger of being cut in the country of 5.5 million people. Some 600 million euros of the bailout will go towards protective equipment, medical supplies and drugs, government ministers said. "Today's decisions centre around dealing with the epidemic and reducing its negative effects," Prime Minister Sanna Marin told a press conference, but warned: "It is clear that we will not get through this unharmed." Finland on Wednesday reported 2,487 confirmed cases of COVID-19 and 40 deaths. The new package comes on top of around half a billion euros' worth of measures announced last month, with a third round of funding to come in May. The government has previously said it expects the total amount of extra support to amount to around 15 billion euros. The second tranche of measures will be supported by an extra 12.7 billion euros of borrowing, the government's budget statement said, adding that national debt is predicted to stand at 119 billion euros by the end of the year, or 52 percent of gross domestic product. Tax revenues for the year are expected to fall by 4.7 billion euros. The coalition also pledged 60 million euros in support of culture, sport and youth work, and announced a temporary monthly payment of 700 euros to parents with children aged under 10 who cannot work during the crisis. Prime Minister Marin also set out broad plans for the next three-year budget, insisting that the government will stick to its pre-coronavirus pledges of protecting the welfare state and working towards carbon neutrality by 2035. sgk/po/spm
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  • Finland unveils 4.1-billion-euro coronavirus bailout
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