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Swedish GDP seen picking up, threat from global slowdown

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Sweden's economy is expected to pick up speed this year and the next, but there are risks from slowing global growth, Finance Minister Magdalena Andersson said in a statement on Monday. - PHOTO: REUTERS

[Stockholm] Sweden's economy is expected to pick up speed this year and the next, but there are risks from slowing global growth, Finance Minister Magdalena Andersson said in a statement on Monday.

Growth is expected to be 2.1 per cent this year and 3.0 per cent in 2015. The previous government had a forecast of 1.9 per cent for 2014 and 3.0 per cent for next year. "The Swedish economy is expected to recover in 2015," Mr Andersson, a Social Democrat who took over as finance minster after September's election, said. "However, there are still substantial unused resources in the economy and the risk of weaker growth predominates." Sweden's economy grew 1.6 percent in 2013.

Public finances will continue remain in deficit until 2017. REUTERS

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