Economic policy

The weakening economic situation has pushed the Swedish economy into recession in 2023. High inflation and higher interest rates combined with waning international demand are the primary reasons for the flagging economy. These are the conclusions of a new forecast of the economic outlook from the Ministry of Finance. At the same time, Minister for Finance Elisabeth Svantesson reports that the reforms in the forthcoming autumn budget will amount to an estimated SEK 40 billion.

The effects of rising prices and interest rates on the Swedish economy are becoming increasingly clear, according to the Ministry of Finance’s latest macroeconomic and public finances forecast presented today.

The Government has decided to nominate Thomas Östros as a candidate for the post of President and Chairman of the Board of Directors of the European Investment Bank (EIB).

On 14 June, Minister for Finance Elisabeth Svantesson will hold a press conference together with OECD Secretary-General Mathias Cormann to present the OECD’s latest economic survey of Sweden. The press conference will be conducted in English.

The importance of maintaining active competition enforcement with regard to markets and companies in times of crisis was a recurring message during the European Competition Day conference.

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.

Today, the Government is presenting the 2023 Spring Fiscal Policy Bill and the Spring Amending Budget for 2023. Sweden’s economy is in recession, with the highest inflation in more than 30 years. In light of this, the Government is presenting a Spring Amending Budget aimed at protecting particularly vulnerable households and lowering inflation. The budget is based on an agreement between the Government and the Sweden Democrats.

The Government presented its Spring Budget on 17 April. The budget has been submitted in an uncertain environment – with war raging in our vicinity, strained European energy markets and Sweden’s highest inflation in more than 30 years.

Sweden’s economy has thus far weathered high interest rates and energy prices better than expected. Next year, however, Sweden will enter a recession that is expected to last until 2025. This is according to the Ministry of Finance’s latest economic forecast presented today by Minister for Finance Elisabeth Svantesson.

The Swedish economy is expected to enter into recession in 2023 amid rising unemployment, according to the Ministry of Finance’s latest economic forecast. Minister for Finance Elisabeth Svantesson presented the forecast today.

Statement made by the Group of Creditors of Ukraine to express solidarity with and support for Ukraine as it defends itself against Russia’s unjustified, unprovoked and illegal war of aggression. The statement was made in connection with a decision by the creditors to provide a coordinated suspension of debt service due by Ukraine from August 1st, 2022 until end-2023, with the possibility of an additional year.

In accordance with a decision of the Riksdag (Swedish Parliament), the Government has, since 1988, published a report on the distribution of economic resources between women and men as part of the Budget Bill.

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.

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).

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.

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.