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"We need to stick to the same course but do it even better. We need to make a bigger effort and then it will also be possible to catch up with Finland and Sweden," Roivas said. "There is no need to start borrowing and raising taxes."

"We shouldn't draw direction-changing conclusions from short-term signs. We look in the rear-view mirror and see that in the third quarter growth wasn't sufficient and then say everything should be done differently. It doesn't have to be thus. We must do the same thing but even better, not differently. There's a fundamental difference," the prime minister said.

He emphasized that the main reason for slow economic growth is heavy reliance on domestic consumption. "On the one hand it's very much to the people's liking, wages are growing and they can up consumption. But as economists we know that this cannot be sustained, for this export is required. As to the latter, we're in the phase of shifting out of the competition advantage of cheap labor and searching for a niche on smarter markets with a higher added value," Roivas said.