Budget bill - Latest News Update, Information, Photos & Videos on Budget bill at Lokmat Times

Stockholm, Dec 22 Sweden will enter a recession in 2023 that is expected to last until 2025, the government said here on Thursday."The Swedish economy and households will be under pressure in the coming years," Finance Minister Elisabeth Svantesson said when she presented the economic forecast at a press conference, Xinhua news agency reported."The recession is expected to be more prolonged than forecast in the Budget Bill, and it does not appear that it will hit bottom until 2024," Svantesson said.Inflation measured by the consumer price index (CPI) is expected to reach an average of 8.9 per cent in 2023, and combined with the rapidly increasing interest rates and the weakened demand in the rest of the world this is expected to lead to gross domestic product (GDP) shrinking by 0.7 per cent in 2023 a downward adjustment from the previous forecast.Unemployment is expected to grow to 7.8 per cent in 2023 and 8.2 per cent in 2024. Both figures are higher than in the previous forecast."In the current situation, it is important that fiscal policy be carefully considered. The worst-case scenario for households and businesses already facing financial difficulty would be a further increase in inflation. The government's budget for next year has undergone cuts aimed at combating inflation, while providing room to act should the economic downturn be worse than expected," Svantesson said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Budget BillFOLLOW

Budget bill, Latest News

Politics :Swedish govt expects recession to last until 2025

Stockholm, Dec 22 Sweden will enter a recession in 2023 that is expected to last until 2025, the ... ...