| Stronger outlook for Swedish economy |
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| woensdag 27 januari 2010 01:00 | |
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The Swedish government has raised its outlook for the economic recovery as unemployment finally is expected to reverse. The Swedish economy is recovering from the global crisis stronger than expected, the Swedish finance ministry said in a statement Wednesday as it raised its GDP outlooks. The economy is now expected to swell 3 percent this year. That’s 1 percentage point more than in the November outlook. “The positive message is an important signal that Sweden looks set to survive slightly better through the crisis than many other countries”, Finance Minister Anders Borg said, adding that politics still must focus to fight the economic crisis. The government expects rising unemployment to come to a halt sooner than previously predicted. The labor market is functioning better than expected, the statement said. Swedbank said last week that Sweden’s calendar-adjusted GDP growth is expected to rise to 2 percent this year, compared with the 1.2 percent forecasted in September, mainly on the back of better conditions on the labor market and stronger household consumption. Sweden’s economy is polarized between the negative developments in the industrial sector, which is heavily dependent on global investments, and the more robust services sector. The expected economic upswing is mainly on the back of robust monetary stimuli and strong domestic demand, the government explained. Bron: The Swedish Wire
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