Svantesson: S svartmålar Sveriges ekonomi – valåret avgör

Swedish Finance Minister Defends Economy Against Criticism

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Sweden’s Finance Minister Elisabeth Svantesson is pushing back against criticism of the nation’s economic outlook, arguing that the country is well-positioned to withstand potential challenges, including increased tariffs from the United States. The debate comes as economic forecasts are closely watched amid global uncertainty.

Svantesson has repeatedly emphasized Sweden’s ability to manage the impact of tariffs proposed by Donald Trump, stating that a strong domestic economy provides a buffer. She recently highlighted the resilience of the Swedish economy, expressing optimism about its current trajectory. The government, she noted, inherited an inflation rate of 10 percent, which has since been brought under control and government policies are beginning to stimulate growth.

The Minister pointed to the government’s recent budget, which took effect January 1, as a key driver of economic strength. The budget includes measures designed to boost household income, such as retaining an additional 1,800 Swedish krona per month for families, and tax cuts on labor, pensions, electricity, savings, and food. These policies, Svantesson argues, are injecting confidence into the economy.

However, Svantesson criticized opposition parties for what she described as a pattern of negativity and “black painting” of the Swedish economy. She argued that this pessimism is counterproductive and undermines efforts to attract investment. “This negativity contributes to unwarranted pessimism and contributes to a false picture of Sweden at a time when we need to attract more investment,” she stated.

Svantesson highlighted several positive indicators, noting that Sweden has moved from being among the slowest-growing economies in the European Union to being projected as one of the fastest. She cited high productivity, a strong currency, a reputation as a safe investment haven, and leadership in innovation and green technology. She also pointed to low public debt and high levels of public investment.

• Sweden’s productivity is among the highest in the EU.
• The krona is performing strongly.
• It is seen as a “safe haven” for investment.
• It is the strongest innovation country in the EU.
• It has the most unicorns per capita in Europe.
• Its electricity production is almost entirely fossil-free.
• It has a world-class financial market and Swedish companies are at the forefront of both new technology and low emissions.
• It has one of the lowest levels of government debt and is at the top in the EU in terms of public investment as a percentage of GDP.
• And with the government’s policies, Swedish purchasing power is expected to have strengthened by the end of the term – despite inflation.

While acknowledging external factors such as the war in Ukraine and global economic conditions, Svantesson argued that the biggest threat to the Swedish economy comes from within – specifically, from proposed tax increases by opposition parties. She warned that these increases would reverse the positive momentum and push the country back into recession.

“Even if our economy is ‘Trump-proof’ – we can handle increased tariffs, it is not Andersson-proof, it is not Nooshi-proof,” Svantesson stated, referring to leaders of opposition parties. She accused them of concealing the potential negative impact of their policies through negative rhetoric.

Svantesson highlighted that the opposition’s budget proposals lack sufficient funding, requiring tax increases of 2,000 krona per month for the average family. She also criticized proposals for a mortgage tax and collaboration with parties advocating for even higher tax increases. “It’s clear that it might not be so fun to talk about?” she remarked. “But that is exactly what this year’s election campaign will be about. It will be a referendum on Sweden’s economy: will we be a leading growth country or a stagnating high-tax country?”

Elisabeth Svantesson, Finance Minister

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