Sweden's government said Friday it would stimulate the economy next year through reforms worth 25 billion kronor (2.9 billion euros, $3.9 billion) in next year's budget. Most of the stimulus would come in the form of tax cuts, Finance Minister Anders Borg said at a government budget meeting in Harpsund outside Stockholm. The Nordic country bounced back quickly from the financial crisis, but Borg said he wanted to avoid over-taxing households as the European crisis continue to "weigh" on the economy. "The reasonable starting point is to support growth and households, and we see their situation improving," he said. The boost was "expected in view of the election" next year, Annika Winsth, chief economist at Nordea, wrote on Twitter. The Swedish government raised its growth forecast for next year to 2.5 percent from 2.2 percent and left its prediction for this year unchanged at 1.2 percent. The centre-right coalition has been in power since 2006 but had to form a minority government in 2010 after the anti-immigrant Sweden Democrats entered parliament, erasing its parliamentary majority, and is currently struggling in the polls. Voters are especially concerned about the historically high level of unemployment in Sweden, which Borg expected to drop to 8.1 percent next year after averaging 8.4 percent this year.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor