Finnish construction industry suffers setback

Finnish construction industry suffers setback

The casualties include a number of large companies, including Visura and Jukkatalo.

It is challenging for the government to alleviate the difficulties of the industry given the urgent nature of the situation, Appelqvist said. Should there be a willingness to take action, then the measured progress would be immediate, he said, adding that if there was a willingness to take action, the measure would be required immediately.

On Tuesday, Prime Minister Petteri Orpo told Kauppalehti that the government will decide on measures to support the industry at its budget session. Preparatory work on these measures is being carried out by a task force consisting of officials from the ministry of finance and the ministry of the environment.

s a need for new residential units, he added to the business-oriented newspaper.

As one possible measure, the prime minister has proposed the idea of launching infrastructure projects ahead of schedule.

Lasse Corin, Aktia's chief economist, also described the situation in the construction industry as bleak in an interview with YLE on Tuesday.

He added: 'It'll be really tough to get out of this,' he said.

The industry employs about 250,000 workers, according to the Confederation of Finnish Construction Industries. The board chairperson of RT said on Saturday that he expects the unemployment rate to increase by 20-30 percent in 2023-2024.

Corin reminds YLE on Tuesday.

The construction industry is not, in fact, the only cause of concern for economists.