Sweden could face a recession this winter that could last for years, Sweden’s Finance Minister Elisabeth Svantesson warned, citing forecasts for continued economic turmoil.
Finance Minister Swantsen warned at a press conference on Thursday that Sweden faces a difficult economic situation and that the The U.S. could enter a recession this winter.
According to broadcaster SVT, Swantsen said: “The current Forecasts show that winter looks longer than we had previously thought.”
The minister’s comments came a day after the National Institute for Economic Research (NIER) released a forecast stating that The recession that the country entered in the coming year is likely to last until 2025.
“Of course, forecasts are always uncertain, but in si the energy crisis situation across Europe, fluctuating energy prices, and wars in our neighborhood, the uncertainty is greater than for a long time Bigger than ever,” Minister Svantesson said.
Concerns over possible gas shortages appear to be back German media, cold winter in Europe has the country burning through its bailout – restocking far faster than expected. https://t.co/y2mt8LYY8g
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The Ministry of Finance expects Sweden’s GDP to decline overall by around 0.7% next year, while inflation is expected to be higher than previously estimate.
Some government schemes such as student aid, sickness benefits and pensions will increase. The government will also provide electricity support to households from February.
as early as 10 In July, some people speculated that European countries would fall into recession due to high inflation and energy crisis.
A month later, the EU concedes that most EU countries will also fall into recession.
“The European Union is one of the most concerned countries,” the European Commission said, adding that “due to the geographical proximity of advanced economies to war and serious Relying on gas imports from Russia and thus advanced economies (which face high prices), the energy crisis is eroding households’ purchasing power and dragging down production. ”
Follow Chris Tomlinson on Twitter @TomlinsonCJ or email ctomlinson(at)inew.com.
