Ministry of Finance

The Stability and Growth Pact is a set of rules for coordinating fiscal policy between EU Member States. The purpose of these rules is to ensure sound public finances. Every April, Member States are to submit stability and convergence programmes. Sweden and other Member States that have not adopted the euro submit convergence programmes, whereas Member States that have adopted the euro submit stability programmes. The programmes are used by the Commission and the Council in their assessment of Member States’ fiscal policies and situations.

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.

On 20–23 April, Minister for Finance Mikael Damberg and Minister for International Development Cooperation Matilda Ernkrans will attend the International Monetary Fund’s (IMF) and the World Bank Group’s Spring Meetings in Washington DC. The Spring Meetings will focus on the economic impact of Russia’s invasion of Ukraine and what the rest of the world should do to support Ukraine and address the impact.

Today, the Government is presenting the 2022 Spring Fiscal Policy Bill and the Spring Amending Budget for 2022. In light of the deteriorating security situation, the Government is presenting a budget to strengthen Sweden that includes both immediate investment and long-term measures to address societal challenges, at a total of SEK 35.4 billion.

Today, the Government is presenting the 2022 Spring Fiscal Policy Bill and the Spring Amending Budget for 2022. In light of the deteriorating security situation, the Government is presenting a budget to strengthen Sweden that includes both immediate investment and long-term measures to address societal challenges.

At a press conference on Wednesday 13 April, Minister for EU Affairs Hans Dahlgren and Minister for Public Administration Ida Karkiainen reported on the Government’s overall efforts in response to Russia’s invasion of Ukraine. The Government’s efforts cover three areas: sanctions against Russia, support to Ukraine and a stronger Sweden.

In order to make it easier for Ukrainian refugees to access banking services, it is proposed that the current obligation for banks to offer payment accounts to all consumers should also apply to Swedish branches of foreign banks. This is stated in a memorandum that the Ministry of Finance is circulating for consultation today.

Today, Minister for Finance Mikael Damberg presents the Ministry of Finance’s latest economic forecast. The Swedish economy is expected to grow by 3.1 per cent this year, a downward revision of 0.3 percentage points compared with the previous forecast. This is because Russia’s invasion of Ukraine impacts economic growth.

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 in loans and grants to the Member States. The main part of this will be channelled through the Recovery and Resilience Facility (RRF).

Russia’s illegal, unprovoked and unjustifiable invasion of Ukraine has led to a deterioration in the security situation in Sweden’s neighbourhood and contributed to exceptionally high electricity prices. The Government’s response is based on three important principles: support to Ukraine, sanctions against Russia and strengthening Sweden. Therefore, the Government today adopted a fifth additional amending budget to strengthen Sweden by providing more funding to Sweden’s military defence and temporary financial compensatory payments to households for high electricity prices. These measures have been presented previously.

Russia’s invasion of Ukraine has led to rising fuel and electricity prices. To strengthen Sweden in this extraordinary situation, the Government is presenting a package of measures with both short- and long-term investments. The package includes reduced fuel taxes, a new compensatory payment for fuel costs for private individuals who own cars, increased housing allowance for families with children and a new travel deduction system. Minister for Finance Mikael Damberg presented this package at a press conference today

Sweden’s military defence funding is to increase to two per cent of GDP. This was conveyed by Prime Minister Magdalena Andersson at a press briefing with Minister for Finance Mikael Damberg and Minister for Defence Peter Hultqvist.

Minister for Finance Mikael Damberg has informed the World Bank that Sweden plans to issue a guarantee of USD 50 million for the World Bank’s loan to Ukraine. This will be added to the USD 350 million loan that the World Bank is already preparing.

On Sunday 27 February, Prime Minister Magdalena Andersson and Minister for Defence Peter Hultqvist held a press conference on direct support to Ukraine. Sweden’s support consists of both financial support and equipment in response to Russia’s invasion of Ukraine. Following speedy consideration by the Riksdag on 28 February, the Government will now implement these measures.

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.