Finland Faces Soaring Interest Costs on State Debt Due to Eurozone Rate Hikes

The state's loan interest payments will quadruple in 2023 compared to 2022, amounting to nearly 570 euros per person.
The increase is due to the European Central Bank (ECB) raising interest rates to the highest level since the euro was launched.
Short-term state loan interest rates are now at 3.75%, the highest in 15 years.
While interest costs are rising, their full impact will take time due to past zero-interest loans not maturing yet.
Despite rising debt levels, Finland's credit rating remains high at AA+ according to Fitch.

yle.fi

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