Finance Minister Anders Borg

Sweden Bouncing Back From Recession

Swedish finance minister Anders Borg says there are clear signs of recovery in the Swedish economy. He says Sweden has been hit less severely than many other countries, and less than the government itself had feared. Unemployment has not grown at the level expected, and the costs for sick leave and early retirement are also lower than predicted.

According to news agency TT, Borg predicts the Swedish economy will grow by 3% this year, with slightly higher growth in 2011 and 2012.

In September's budget the government expected the economy to grow by just 0.6% in 2010.

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