HELSINKI, Feb 6 (Reuters) - Finland will receive less than 1 billion euros ($1.28 billion) as dividends from state's shareholdings in 2009, compared with a budgeted 1.5 billion, minister Jyri Hakamies was quoted as saying on Friday.
'It is clear that this economic crisis will treat quite badly many companies where the state owns a majority or a minority,' Hakamies, minister responsible for state shareholdings, told national broadcaster YLE.
Finland owns stake's in many listed firms which have cut payout this year as the economic gloom hurts results. Stainless steel firm Outokumpu slashed this week its dividend to 0.50 euro per share from 1.20 euros, while Fortum cut dividend to 1 euro from 1.35 euros.
Triple-A rated Finland said earlier this week its net borrowing in 2009 will reach 8 billion euros, with economic stimulus spending up and revenues falling. The state debt at the end of 2009 is estimated to be 62.6 billion euros, which is about 34 percent of gross domestic product.
The centre-right coalition government has projected that GDP will contract by more than 2 percent this year despite its stimulus measures.
(Reporting by Tarmo Virki; Editing by Kenneth Barry) ($1=.7807 Euro) Keywords: FINLAND DEBT/ (tarmo.virki@reuters.com, +358-9-680 50 235, Reuters messaging: tarmo.virki.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'It is clear that this economic crisis will treat quite badly many companies where the state owns a majority or a minority,' Hakamies, minister responsible for state shareholdings, told national broadcaster YLE.
Finland owns stake's in many listed firms which have cut payout this year as the economic gloom hurts results. Stainless steel firm Outokumpu slashed this week its dividend to 0.50 euro per share from 1.20 euros, while Fortum cut dividend to 1 euro from 1.35 euros.
Triple-A rated Finland said earlier this week its net borrowing in 2009 will reach 8 billion euros, with economic stimulus spending up and revenues falling. The state debt at the end of 2009 is estimated to be 62.6 billion euros, which is about 34 percent of gross domestic product.
The centre-right coalition government has projected that GDP will contract by more than 2 percent this year despite its stimulus measures.
(Reporting by Tarmo Virki; Editing by Kenneth Barry) ($1=.7807 Euro) Keywords: FINLAND DEBT/ (tarmo.virki@reuters.com, +358-9-680 50 235, Reuters messaging: tarmo.virki.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.