This is a very special and uncertain time. But Sweden and the Swedes have gone through tough times before: the financial crisis, the pandemic. Then, you could also see how savings and investments decreased in value. But we will get through this, says Elisabeth Svantesson, while the stock market is plummeting for the third day in a row after the Trump administration's tariff decision last week.
"Very good tradition"
She emphasizes that she is not giving any advice to savers in the wave of anxiety, which since the tariff decision last Wednesday has wiped out tens of thousands of billions of kronor in stock market value around the world.
But I can state that we have gone through difficult times before and we can do it again.
Svantesson does not think that Swedish households have too much exposure to the stock market in their pension savings, despite many now seeing how large parts of what they have saved up are going up in smoke. Saving on the stock market is a "fundamentally very good tradition", according to Svantesson:
It is unique that so many Swedes save and invest in funds and shares. It has, after all, given a return over the years where Swedes have been able to take part in companies' successes. It has also provided capital to the market, so that companies have been able to grow and invest in Sweden.
"Will be great uncertainty"
Setbacks like the crash that is now eroding pensions should, according to Svantesson, be viewed from a longer perspective.
During the year, much of the savings and investments have given returns, and they will be able to do so again in the future, she says.
But now we will probably have to wait for a time of great uncertainty, a shaky time. How long? We don't know, she adds.
