Sweden's government cuts economic outlook for 2012 April 16, 2012 - 12:44 AMT 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 Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
