Swedish Finance Minister Elisabeth Svantesson has warned that Sweden may be facing a recession this winter that may last years.
Swedish Finance Minister Elisabeth Svantesson has warned that Sweden may be facing a recession this winter that may last years, citing forecasts showing protracted economic turbulence.
Finance Minister Svantesson gave a press conference Thursday warning that Sweden faced a difficult economic situation and that the country will likely enter a recession this winter. “What the forecasts now show is that the winter looks to be more protracted than we thought before,” Svantesson said, the broadcaster SVTThe Minister’s remarks come a day after the National Institute of Economic Research released a forecast stating that the recession the country enters in the coming year could last all the way until 2025.
“Of course, forecasts are always uncertain, but in a situation of energy crisis throughout Europe, energy prices that are volatile and a war in our immediate area, the uncertainties are greater than in a very long time,” Minister Svantesson said. Fears over possible gas shortages seem to have returned to the German media, with the cold European winter seeing the country burn through its saved-up supply far faster than expected.
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