Sweden's economy ‘is still fragile’
Economic recovery will arrive sooner than expected – but the economy is still in poor health, the Finance Minister said.
• Summary of the 2010 Spring Fiscal Policy Bill
• 'Wrong direction for a rate hike' this summer
The economic recovery appears to be arriving sooner and turning out stronger than previously estimated, the Swedish center-right government said in its 2010 Spring Fiscal Policy Bill presented Thursday. But the economy is still in poor health.
"There are various indications that Sweden has coped with the crisis better than many other countries, thanks to responsible financial policies", said Minister for Finance Anders Borg. "But the economy is still fragile and certain groups have been hit hard by the crisis.
The government cut the economic growth forecast to 2.5 percent this year (down from 3 percent). The economy is expected to grow by 3.9 percent in 2011, and 3.5 percent in 2012. Unemployment is expected to begin to decline and employment to increase in the course of this year.
The bill was presented ahead of the General Election in September.
Last Updated (Thursday, 15 April 2010 09:02)
