Swedish budget targets US$3b for jobs, education, integration

[STOCKHOLM] Sweden's economy is improving, but there are risks to the outlook, the government said on Monday as it outlined new spending of 24 billion crowns (S$4.09 billion) on job creation, schools and integrating refugees in 2016.

The minority centre-left government forecast a growth of 2.8 per cent this year, unchanged from the previous forecast in August. "The Government expects Sweden's economic situation to improve in the coming years," Finance Minister Magdalena Andersson said in a statement. "But this economic upturn is uncertain and there is a substantial risk of weaker growth."

Measures included spending on job creation, education and money to ease the integration of thousands of refugees. Andersson has said all new spending will be financed by tax hikes or reducing expenditure in other areas.

Most of the measures in the budget were already known.

REUTERS