EU Commission: Robust economic growth in Sweden – Business World

The European Commission raises its GDP growth forecasts for Sweden for the years 2015, 2016 and 2017.

“Sweden is entering a period of robust economic growth supported by stable private consumption, strong investment and increased government spending. Unemployment is expected to decline only gradually as it will take time for new migrants to find jobs. Budget deficits are expected to be stable as increased expenses related to immigration should be covered by income, which grows with the economy as well as a result of tax increases, “the European Commission.

the forecast assumes that the Swedish economy’s growth, as measured by GDP, amounted to +3.6 per cent in 2015. This represents an increase from the previous forecast in November which was +3.0 percent. In 2016, growth is expected to end up +3.2 per cent compared with the previous forecast of +2.8 percent.

In 2017, GDP forecast to + 2.9 per cent (+2.7). EU body raises its forecast for private consumption to +2.4 percent for 2015 from 2.3 percent. For 2016 the forecast is screwed up to 2.6 percent, from the previous +2.5 percent. The forecast for 2017 is + 2.8 percent (2.6).

Inflation forecasts adjusted downwards at the same time. Inflation, HICP is projected to be 1.1 percent in 2016 from the previous 1.5 percent. In 2017, HICP is expected to end up at 1.4 per cent (1.7).

The unemployment rate is forecast to reach 6.9 percent in 2016, compared with the previous forecast of 7.7 percent. By 2017, unemployment is expected to have declined to 6.7 percent (7.4).

The national debt is expected to be 44.0 percent of GDP in 2015 (previous forecast 44.7 percent) and 43.1 percent in 2016 (44.0). 2017 expected level have decreased to 42.3 percent of GDP (43.3).

Exports are expected to grow by 4.1 percent in 2016 (previous forecast 3.9 per cent) and 4.1 per cent 2017. Imports are expected to simultaneously grow by 4.3 percent in 2016 (4.1) and 4.8 percent 2017.