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Political Economy

Swedish minister of finance, Anders Borg lowers Swedish growth forecast

Sunday, 14 April 2013
The Swedish economy would not grow next year as would have been expected. The Minister Finance, Ander Borg said that growth for next year is being downgraded further in the spring budget which Mr. Borg presents tomorrow.

According to various Swedish media reports, on Monday the Finance minister is expected to present his spring budget. Earlier reports suggest that it will contain pessimistic forecasts for the future, despite various independent organisation feeling that the Swedish economy would start rebounding into real growth.
Anders Borg

In December, the government lowered the forecast down sharply compared with the figures presented in the autumn budget, and now more sad statement on the Swedish economy will come tomorrow.

This year the growth is marginally better than the government thought in December. Now it projects growth for 2013 to stand at 1.2 percent.
Also growth will fall to 2.2 percent in 2014, a substantial decrease from the growth of three per cent which the government expected in December last year.

The explanation for the expected fall in growth has to do with the continuing euro crisis. The feels that first real higher growth will come in 2015.
For this year, the growth forecast is slightly better than divination in December. The real talk on this comes tomorrow. Watch this space.
by Scancomark.com Team

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