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Sweden Economic Snapshot

Economic Survey of Sweden - 16 July 2021

Executive Summary

Presentation

Economic Forecast Summary (May 2021)

The Swedish economy is rebounding, with projected GDP growth close to 4% in 2021 and 3½ per cent in 2022, on the back of rising exports, which boost manufacturing production and investment, and strong fiscal and monetary support. During the first half of 2021, pandemic-related restrictions and voluntary distancing have held back the recovery in services requiring face-to-face interaction, but growth will broaden during the second half of the year. Unemployment is expected to decline gradually. Inflation is set to remain below the 2% target throughout 2021 and 2022.

Reform Priorities (April 2021)

Going for Growth 2021 - Sweden

While Sweden is a country with low inequality, the COVID-19 crisis is exacerbating difficulties for some and risks scarring youth working prospects. Inequality in educational outcomes risks widening further, as students from disadvantaged social backgrounds may face greater difficulties to adapt to distance learning. These are top priorities for a more resilient and equitable recovery.

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2021 Structural Reform Priorities

  • Labour market: Enhance training and counselling for the low-skilled, especially migrants
  • Education and skills: Increase the efficiency of the education system
  • Housing: Reduce housing market distortions
  • Labour market: Promote job mobility
  • Tax system: Improve the efficiency of the tax structure

 

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