Sweden's government cuts economic outlook for 2012

Sweden's government cuts economic outlook for 2012

PanARMENIAN.Net - Sweden's government has cut its economic outlook for 2012, saying problems in the eurozone are also affecting the Nordic country.

According to The center-right government on Monday, April 16 lowered its expectation for 2012 gross domestic product growth to 0.4 percent from 1.3 percent previously. It expects GDP growth to recover to 3.3 percent in 2013.

Finance Minister Anders Borg said the government is focusing on countering the effects of the debt crisis and reducing unemployment, which is forecast at 7.8 percent in 2012 and 7.7 percent in 2013.

Long-term, the government wants to cut income taxes further, but Borg wouldn't specify when. He cautioned that the economic situation could deteriorate further and said opportunities for economic reforms are currently limited.

 Top stories
Sixty-five percent of female billionaires are married, 10 percent divorced, 4 percent single and 21 percent widowed.
“A 10% credit portfolio upsurge was registered in the first 7 months of 2014, with the bank planning to bring the figure to $550M,” Sahakyan said.
The revised figures are based on the forecast for the Russian economy to contract by 1.0% in 2014, followed by stagnation in 2015.
“The key powers in the region are unlikely to favor an outbreak of conflict on their southern and eastern flanks,” the report says.
Partner news