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Svantesson on inflation: Sees the light in the tunnel

The unusually high inflation – which has characterized the Swedish economy since 2022 – may soon be defeated, according to the government. This opens the door for a new type of economic policy with greater public investments, according to Prime Minister Ulf Kristersson (M).

» Updated: 16 July 2024, 14:37

» Published: 04 June 2024

Svantesson on inflation: Sees the light in the tunnel
Photo: Jessica Gow/TT

The unusually high inflation – which has characterized the Swedish economy since 2022 – may soon be defeated, according to the government.

This opens the door for a new type of economic policy with greater public investments, according to Prime Minister Ulf Kristersson (M).

He points out that there are signals of unexpectedly strong growth in Sweden and that the Riksbank has begun to lower the interest rate.

According to Kristersson, the development opens up for long-term investments from the government's side in infrastructure, research, development, and energy systems. This also opens up for tax reforms.

Elisabeth Svantesson says that the development is going in the right direction, but warns that "we can't shout 'yes' just yet".

Growth has become a bit stronger than expected and there is hope for a better economic development among households and businesses, according to Svantesson.

Does this mean that households can breathe a sigh of relief now?

Will you be able to spend more in the next budget?

The Social Democrats' economic spokesperson Mikael Damberg writes in a comment that it is "good that the economy is moving forward".

"But it's strange to hear the government boasting – one should remember that Sweden has had it tougher than our Nordic neighbors, with lower growth and higher inflation".

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By TTThis article has been altered and translated by Sweden Herald

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