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'Give 100 million in export support': Löfven

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'Give 100 million in export support': Löfven
10:56 CEST+02:00
The Social Democrats want to invest in small and medium-sized export companies, wrote the party's head Stefan Löfven in an opinion piece on Saturday.

Löfven, who is slated to hold his speech in Almedalen later on Saturday, suggested that the Swedish Export Council (Exportrådet) should receive 100 million kronor ($14.2 million) extra over a period of four years.

This extra cash would be directed to support smaller companies in their export. The millions “aim to help companies establish business connections and break into new markets”, he wrote in his opinion piece in newspaper Svenska Dagbladet (SvD).

Löfven states that as Sweden's exports make up roughly half of the country's BNP, has a major influence on tax revenue and welfare, and adds that increased export support is needed for small and medium-sized companies.

“Partly this is so that we can export more products, but it's also because in a global economy, smaller Swedish companies aren't just competing with other companies in Sweden, but all over the world. We have to start thinking exports much sooner,” said the Social Democratic leader to news agency TT.

When asked whether 25 million kronor per year is really enough to make an impact in this area, Löfven responded:

“Based on what the Export Council receives today, it's an increase by more than ten percent, and 100 million isn't so bad. Then we'll have to see what we can do in future.”

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