Ministry of Finance

This information material contains a selection of the acts and ordinances – both new and amended – that enter into force in the second half of 2021 or some time thereafter.

On 23 December, more infection control measures will be introduced in accordance with the Government’s action plan for introducing infection control measures. This is due to the increased community transmission of COVID-19 and the increased burden on health and medical care services.

Today, Minister for Finance Mikael Damberg presents the Ministry of Finance’s latest forecast for the economic situation. The Swedish economy is expected to grow by 4.9 per cent this year, an upward revision of 0.5 percentage points compared with the previous forecast. Sweden’s GDP is back at the levels forecast before the crisis.

Following the Riksdag’s adoption of the adjustments to the Government’s Budget Bill for 2022 proposed by the Moderate Party, the Sweden Democrats and the Christian Democrats, the Riksdag has decided on appropriations in the 27 expenditure areas. The Riksdag has thus concluded its processing of the central government budget for 2022.

The Government has introduced further COVID-19 infection control measures due to increased transmission rates and somewhat growing pressure on health care services. The Government also wants to reintroduce further support and compensation to reduce community transmission. Furthermore, the Government is presenting a plan for business support that may be reintroduced if stricter social restrictions need to be reimposed. Vaccinations remain the key to reducing the risk of infection, disease and death, and to avoiding the introduction of further measures.

The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022. FSAPs are conducted regularly for countries with systemically important financial markets. In its report, the IMF will highlight any flaws and risks in the system and propose measures to deal with them.

Several employees at the Tax and Customs Department of the Swedish Ministry of Finance have been involved in the elaboration of a new handbook on carbon taxation. The handbook is aimed to inspire more countries to use taxation as an instrument for reducing emissions. The UN Tax Committee launched the handbook on October 25th.

The Government has adopted guidelines for the Debt Office’s management of the central government debt. No changes are made in the guidelines decision for 2022 to the steering of management compared with the preceding year.

Combatting money laundering and terrorist financing is a priority for the Swedish government. This work takes place globally, on the EU level and nationally. In Sweden, several law enforcement and administrative agencies, together with large parts of the private sector, have obligations in this area.

In July 2020, EU heads of state and government agreed on a recovery package to mitigate the effects of the crisis. The package, called NextGenerationEU, comprises EUR 750 billion (2018 prices) in loans and grants to Member States. The main part of this will be channelled through the Recovery and Resilience Facility (RRF). On 28 May 2021, Sweden submitted its recovery plan to the EU.

Since the infection started to spread, the Government and the Riksdag have taken a large number of measures to safeguard people’s lives, health and livelihoods. At the same time a powerful green restart of the Swedish economy is being implemented. In all, the economic measures taken are worth almost SEK 400 billion for 2020 and 2021. This corresponds to around SEK 40 000 per inhabitant. In addition, around SEK 1 000 billion has been made available in various forms of loans and guarantees.

On 20 September 2021 the Government presented its budget proposal for 2022 to the Riksdag.

The Government is presenting the Budget Bill for 2022 to the Riksdag today. In it, the Government proposes measures to accelerate the climate transition, get more people into work, strengthen the welfare system and make Sweden a safe country for all. In total, reforms worth approximately SEK 74 billion are involved.

Today, Minister for Finance Magdalena Andersson presents the Ministry of Finance’s latest economic forecast and the direction of the central government budget for next year. The Ministry of Finance forecasts growth of 4.4 per cent this year and 3.5 per cent next year.

Climate change is one of the most pressing challenges facing the international community. A broad range of policy instruments can be used to curb carbon emissions, and economic instruments such as taxes and emissions trading are critical elements of any comprehensive mitigation strategy.

This compilation contains a selection of acts and ordinances – both new and amended – that enter into force in mid-2021.

The Swedish economy is recovering rapidly after the deep downturn last year. The Ministry of Finance’s latest forecast calls for GDP to grow by 4.7 per cent this year, which is 1.5 percentage points higher than in the forecast presented in connection with the Spring Budget in April. Public finances are also expected to be stronger than in the previous forecast.