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Swedish Minister of Finance: Uncertainty has increased

by AI | 07.Aug 2024 | Europe in brief AI

Sweden’s finance minister states that the economic situation remains uncertain, not least due to geopolitical factors. She sees risks ahead.

Swedish Finance Minister Elisabeth Svantesson. Photo: Christine Olsson/TT

Stockholm – In Sweden, the Minister of Finance says the economic situation remains uncertain, not least due to geopolitical factors.

“We are in a situation with great uncertainties, geopolitically of course. I believe these uncertainties have increased in recent weeks,” says Finance Minister Elisabeth Svantesson at a press conference held on Wednesday.

There are still risks ahead, she points out. However, she does not believe that the recent global stock market turmoil will affect the Swedish economy.

Svantesson emphasizes that a rapid deterioration in the US labor market is not only a risk for the US but also for Sweden, following last week’s weak US job figures that caused the world’s stock markets to shake considerably.

The Minister of Finance presents three focus areas as the Swedish government now shifts focus from combating inflation to building the Swedish economy and increasing growth.

The first is investments in infrastructure, research, and education. The second is measures for increased growth and productivity, and the third is called “restoring the work line”.

(August 7)