Better Times Ahead Says Experts
The Swedish National Institute for Economic Research estimated Wednesday that Sweden’s gross domestic product will fall with 5,0 percent this year but that growth will turn upwards in 2010.
Although the institute predicts an increase in growth over the next couple of years, it will be from very low levels, as GDP growth is predicted at -5.0 percent in 2009, 1.5 percent in 2010 and 2.9 percent in 2011.
“We still believe there will be a drop in GDP this year, but it is true that we have revised the prognosis for the next few years. The statistics gathered have come in stronger than expected” said the head of the Institute Mats Dillén to Swedish news agency TT.
Although the news are better than previously expected, the Institute paints a gloomy picture of the labour market over the next few years and they are estimating an unemployment level at record breaking 12% in 2011.