• Sweden edition
 
Sweden boosts economic growth forecast

Sweden boosts economic growth forecast

Published: 04 Mar 2011 08:17 GMT+01:00
Updated: 04 Mar 2011 08:17 GMT+01:00

Finance Minister Anders Borg told reporters that the government now expects Sweden's gross domestic product this year to grow 4.8 percent, up from its previous estimate of 3.7 percent.

"We now predict growth of well above four percent, which signifies that we already now have erased the impact of the crisis and that we will continue to see rapid growth," Borg said.

For 2012, the government now expects Sweden's economy to grow 3.5 percent, slightly higher than its previous estimate given in October of 3.4 percent, the finance ministry said.

After suffering a deep recession during the global financial crisis, with its GDP shrinking 5.3 percent in 2009, Sweden's economy has rapidly recovered, posting 5.5 percent growth in 2010.

In the fourth quarter last year, the economy posted year-on-year growth of 7.3 percent, the highest since the national statistics agency started recording quarterly data in 1970.

"Like the United States, our gross domestic product now stands at the same level it did in 2008. But contrary to the United States, our employment level has also returned to the 2008 level," Borg said.

After hitting a peak of 8.4 percent in 2010, unemployment is expected to sink to 7.4 percent this year, the government said, revising down its previous 2011 estimate of 8.0 percent.

The Swedish jobless rate is then expected to sink further to 6.7 percent in 2012 and should drop below five percent in 2015, according to the new forecast.

"This brings us to the level we had in the 1980s," before Sweden's deep economic crisis at the beginning of the 90s that sent unemployment figures skyrocketing, Borg stressed.

AFP/The Local (news@thelocal.se)

Your comments about this article

10:07 March 4, 2011 by Great Scott
The only way Sweden's loony government can reduce unemployment is to use their current slimy tactics, i.e. get the unemployed to work for nothing and make more further education places available. Sweden's GDP 1 year ago was -5.5%, today they claim? It's 5.5%. A difference of 0.0%, don't be fooled by false impressions.

This idiot borg also talks about unemployment in the 1980's and how high it rose to in the 1990's, the exact time when the last conservative government was in power (15th September 1991). You can fool some of the people some of the time, mr borg, but you can fool all of the people all of the time.

And I keep hearing their dumb claims of a strong kronor, once again a myth. Before the last failed conservative government got into power the Swedish kronor was stronger than the Danish and Norwegian currencies, today it's the weakest!
11:59 March 4, 2011 by Nemesis
Yes, there is a considerable push to create more praktik jobs, in Skåne anyway.

The put them on a 6 month praktik course to have them classed as employed, then fire them one week before the end of the praktik course. They fill the job with another praktik.

Just take a look at the unskilled labour in Skåne. Borg is filling that well with praktik.

If all praktik, pre-pensioned and those on various schemes to keep them of the heavily distorted unemployment register were actually listed as unemployed, the figures would be very different.
14:07 March 4, 2011 by miss79
i dont trust this ponytail finance minister
15:31 March 4, 2011 by mablog
Good news for Sweden, it is not necessarily good news for me. The argument is very simple, if I am not even called for an interview after tens of applications and with an excellent CV now that the economy is booming, what can i expect for the future?

Probably trying somewhere
Today's headlines
Ericsson to axe modems and cut jobs
Ericsson CEO Hans Vestberg, pictured here presenting the comapny's quarterly report in July. Photo: Annika af Klercker/TT

Ericsson to axe modems and cut jobs

Swedish telecom giant Ericsson has confirmed it will cut jobs in Sweden and abroad after the company announced on Thursday morning it would stop developing modems. READ  

Elections 2014
Lööf laughs off Löfven's 'comical' advances
Annie Lööf speaks to the press after her meeting with the parliamentry speaker on Wednesday. Photo: Fredrik Persson/TT

Lööf laughs off Löfven's 'comical' advances

UPDATED: Centre Party leader Annie Lööf reiterated on Thursday morning her reluctance to cooperate across bloc lines with Stefan Löfven, as the Social Democrat leader renews his attempts to form a new government. READ  

Elections 2014
Sweden Democrats want prized speaker job
Sweden Democrat party secretary Björn Söder celebrates Sunday's election result. Photo: Anders Wiklund/TT

Sweden Democrats want prized speaker job

UPDATED: As Sweden’s third largest party, the Sweden Democrats "assume" they will be given one of a handful of prestigious parliamentary speaker jobs, party secretary Björn Söder tells The Local. READ  

National
Teens in intensive care after school 'initiation'
Photo: Peder Skrivares school

Teens in intensive care after school 'initiation'

School inspectors are investigating after an initiation ceremony at a high school in Varberg in south west Sweden left four girls in hospital. READ  

National
Pirate Bay Swede 'mistreated' in jail
Peter Sunde. Photo: TT

Pirate Bay Swede 'mistreated' in jail

The brother of Pirate Bay co-founder Peter Sunde has questioned the conditions of his brother's Swedish jail, slamming both the institution and the guards. READ  

Elections 2014
Fresh election fears in divided Sweden
Sweden Democrat leader Jimmie Åkesson may not support a Social Democrat budget. Photo: TT

Fresh election fears in divided Sweden

UPDATED: The leaders of Sweden's main political parties have been called to parliament as speculation grows that the Sweden Democrats could hold the key to new elections. READ  

Presented by Stockholm Business Region
Introducing... the Stockholm collection
Photo: Imagebank Sweden

Introducing... the Stockholm collection

Moving to Stockholm, or just dreaming about it? Either way, this is your ultimate guide: for housing, finances, insurance, business, and so much more. READ  

In Pictures: The Local's Property of the Week
Photo: Fastighetsbyrån

In Pictures: The Local's Property of the Week

Time for some luxury this week - we're heading to a sprawling Eskilstuna property with a location and view to die for. READ  

National
Row over viral 'Nazi receipt' in Swedish shop
A cashier in a Coop supermarket: Photo: TT

Row over viral 'Nazi receipt' in Swedish shop

A photo of a till receipt with the Nazi slogan "Sieg Heil" printed on it has gone viral in Sweden, with supermarket chain Coop launching an internal investigation. READ  

Society
Sweden tops 'financial well-being' rankings
Sweden's family-friendly policies contribute to well-being. Photo: TT

Sweden tops 'financial well-being' rankings

Swedes have fewer money concerns than people from any other European country, according to the latest major report on global well-being. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Property of the week - Eskilstuna
Sponsored Article
How to start a business in Stockholm
Society
How I became a surf blogger when I moved to Sweden
Gallery
People-watching: September 13th
Society
Why is Stockholm's Södermalm so cool?
Blog updates

17 September

Deep election analysis (Blogweiser) »

"You think you’re bad? Well I’m American. http://www.youtube.com/watch?v=NFbomLID0vU Deep deep analysis on Swedish election results. Vlog post: https://t.co/tjQgfa5Yie #svpol #val2014 #politics pic.twitter.com/oEK5ADFT8L — Joel Sherwood (@joeldsherwood) September 17, 2014 " READ »

 

15 September

Liten, litet, små & lilla (The Swedish Teacher) »

"Hej igen! Have you ever been confused about when to use “liten”, “litet”, “små” and “lilla”? Today I’m going to sort out how use the adjective “liten” (small) and the different forms of it. Liten or litet? “Liten” is the form we will use when referring to a noun with the gender “en”. For example: Min pappa har en..." READ »

 
 
 
Gallery
People-watching: September 11th
Gallery
People-watching: September 13th
Politics
Five possible election outcomes
Politics
Sweden elections: How do they work?
Politics
Sweden elections: Who's who?
Lifestyle
What's on in Sweden
Gallery
Property of the week - Hornstull, Stockholm
Analysis
Five differences between the UK and Sweden
Welshman Jonny Luck is now a chef in Sweden
Society
How I opened my own restaurant in Sweden's Malmö
Sponsored Article
Stockholm tech fest: relive the magic
Gallery
People-watching September 8th
Photo: TT
Politics
Feminists fight for first seats
Politics
Immigration cut push from Sweden Democrats
Sheryl Sandberg says women have "low expectations"
Tech
Facebook exec talks women's limits in Swedish business
Politics
Left Party calls for justice and equality
Politics
Green Party wants 'better world' for kids
Lifestyle
The five best Swedish songs of the month
Sponsored Article
Introducing… Insurance in Stockholm
National
Huge clear up underway after Skåne floods
Politics
Sweden's Alliance reveals full manifesto
Tech
Sweden's highest peak to lose title next year
Sponsored Article
Graduates: Insure your income in Sweden with AEA
Sponsored Article
Introducing...Your finances in Stockholm
Sponsored Article
Introducing...Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

862
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN