|
Home
Up
| |
Industry and economy
In the early 1990s, Sweden experienced its deepest recession since the thirties. A very
far-reaching programe has reversed the deficit in the general government finances - more than 10 % of GDP in 1994 - and in 1998 there was a surplus of nearly 2.5 % of GDP. This improvement is unparalleled among the OECD countries.
The budget consolidation has been followed by a significant improvement in all macroeconomic indicators. The long term interest rates have been falling in recent years. The interest rate differential against the euro area has been reduced to about 0.4 percentage points. The inflation rate is low and stable and labour productivity as well as industrial production have increased considerably since the depreciation of the Swedish krona in 1992. The export oriented high knowledge sectors, such as telecommunications and pharmaceuticals, have demonstrated the most
favorable development. |
 |
    
More information
about industry and economy is available from Swedish Institute
|
