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Sweden projects GDP to hit high 3.1pct in 2016
(MENAFN) Despite the cost of a record influx of refugees in Sweden will weigh on finances, its economy is forecasted to develop this year at its fastest pace since 2010 and growth will continue to be robust further ahead.
In reality, there are a number of foreign pressure points that cast it shadow upon projections like uncertain euro zone recovery, weaker growth in China and geopolitical risks in the Middle East and Ukraine.
Additionally, as a response to the overwhelming 160,000 of asylum seekers that had entered Sweden in 2015, the government revealed its intention to spend an extra USD1.3 billion this year, hinting at bad prospects.
The government forecast GDP growth of 3.1 percent in 2016 following an expansion of 3.6 percent this year. In September, the government saw growth of 2.8 percent in both 2015 and 2016.
In reality, there are a number of foreign pressure points that cast it shadow upon projections like uncertain euro zone recovery, weaker growth in China and geopolitical risks in the Middle East and Ukraine.
Additionally, as a response to the overwhelming 160,000 of asylum seekers that had entered Sweden in 2015, the government revealed its intention to spend an extra USD1.3 billion this year, hinting at bad prospects.
The government forecast GDP growth of 3.1 percent in 2016 following an expansion of 3.6 percent this year. In September, the government saw growth of 2.8 percent in both 2015 and 2016.
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