Swedish Business and Industry believes that a double fault worsens the economy

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“You worry about something that will be gone next year,” says chief economist Sven-Olov Daunfeldt, who estimates that inflation will fall rapidly in the autumn and reach the Riksbank’s target of 2 percent early next year.

He further believes that Sweden is ending up in a deeper and more serious recession than previously thought. The chief economist believes that it is therefore wrong if the Riksbank raises the interest rate two more times this year.

The Swedish Confederation of Business is also critical of the government, which he believes is too cautious. The economist would have liked to see more investment in, for example, infrastructure, which is believed to create economic growth.

This creates a double fault, including for tightening monetary and fiscal policy.

Daunfeldt also points out that the economy is already weak. For example, consumption has fallen for four quarters in a row, which has not happened since 1993.

The article is in Swedish

Tags: Swedish Business Industry believes double fault worsens economy

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