Sweden’s Finance Minister Anders Borg comments:
- “A weak development internationally will mean a somewhat slower recovery in Sweden”
- “That, along with (planned) increased expenditure at the end of the next term of government, means that we must strengthen the budget”
Cut his forecast for growth this year to 1.9% (forecast made in July of 2.5%)
- Next year cut forecast to 3.0 % from 3.1%
- Said the public sector was expected to run a deficit of 2.2% of gross domestic product this year versus a previous estimate for a 1.6 percent shortfall
- To bring public finances back to a targeted 1 percent surplus by 2018 … planned to raise taxes on the financial services and commercial property sectors if reelected and would hike duties on tobacco and alcohol
- Those measures will strengthen the budget by around 25 billion crowns (2.18 billion pounds)
