Sweden will recover its social model with 2.7 billion EUR in 2015

Noam Stiekema

Sweden will recover its social model with 2.7 billion EUR in 2015, as the government has promised to spend an additional 25 billion kronor in creating new jobs and maintaining the social model. The new government led by the Social Working Party published its budget for next year, stating that it was jointly agreed with […]

Magdalena Andersson

Magdalena AnderssonSweden will recover its social model with 2.7 billion EUR in 2015, as the government has promised to spend an additional 25 billion kronor in creating new jobs and maintaining the social model. The new government led by the Social Working Party published its budget for next year, stating that it was jointly agreed with the Left Party. The additional investment will be spent on creating new jobs, improving gender equality in areas such as infrastructure and reducing the effects on the climate.

“The government presents measures to maintain a unified Sweden social model”, said Finance Minister Magdalena Andersson. “Greater unity and gender equality are key to the development of Sweden. With reforms in the areas of employment, education, the environment and worker Swedish model economy and its labor market can be strengthened to achieve better performance”, she added.

The minority government of the Social Democratic Party and Working Green Ecological Party took power this month after replacing the four-right-center coalition of former Prime Minister Fredrik Reinfeldt. Now the Government are difficult task to pass the budget in parliament after the nationalist Sweden Democrats party received overwhelming support in the elections in September and is able to prevent the adoption of the budget. The new government has pledged to bring the unemployment rate in Sweden to the lowest in Europe by 2020 unemployment rate was 7.4% in August from 3.9% in Denmark and 6.7% in Germany.

“Our estimate is that the Swedish economy will recover gradually in the coming years. Unemployment will gradually decline from current levels. At the same time there are clear risks of lower growth. They have increased in recent years as a result of the turmoil around us”, said the government.

The authority of the executive confirmed the forecast for economic growth in the country earlier this month it expects gross domestic product (GDP) to expand by 2.1% in 2014, growth in 2015 is expected to be of 3.0% and 3.2% in 2016. The government deficit forecast to 2017, when the budget will be balanced and will reach a surplus of 0.5% of GDP in 2018, unemployment is expected to fall to 6.1% in 2018.

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