Fitch Ratings has affirmed Finland's international credit rating as "AAA with Stable Outlook". Fitch expects real GDP growth in Finland to decline 0.1% on average this year, but for growth to pick up modestly over the years ahead.

 As recently as in March, Fitch forecast slight growth in GDP for this year of 0.6%

According to the credit agency's forecast, real GDP in Finland is expected to expand 1.1% and 1.3% in 2015 and 2016 respectively.

However, it noted that one area of uncertainty is whether the impact of EU restrictive measures on Russia - and counter-measures by Russia - would result in a greater than expected weakening of economic prospects in Russia, which is Finland's third-largest export market.

In its latest evaluation, Fitch pointed to what it termed Finland's "strong track record of prudent fiscal policy management and economic policy implementation". The general government sector, it pointed out, has a net asset position of just under 60% of GDP due to the strong financial position of statutory pension plans.

The credit ratings agency reported that Finland is among only six OECD countries to enjoy a government net asset position.

Even so, it points out that there are future developments that could result in downward pressure on the ratings including a continued rise in the government debt-to-GDP ratio in the medium-term, and a persistently low potential growth rate of the economy, affecting further the sustainability of the public finances.

Sources  Yle