Sweden's Economic Outlook Rosier
Sweden's budget deficit won't swell nearly as large as had previously been thought, said the Swedish National Financial Management Authority on Friday. According to Reuters, the deficit is now expected to be only 3.6 billion dollars, a little more than half of the originally predicted 6.2 billion. And by 2012, the Authority says Sweden will be in the black again.
Sweden hasn't had to recover from such a drastically shrunken economy since World War II. This time around, the country's dramatically increasing GDP is helping it to pull through.
The Authority's forecast corroborates recent reports that Sweden's economic situation isn't as dire as had been anticipated.