Swedish govt promises $12 billion to kick-start economy in 2021 budget

Sweden’s government will pump 105 billion crowns ($12 billion) into the economy in 2021 through tax cuts and spending in a record giveaway aimed at getting the economy back on its feet after the coronavirus pandemic-induced slump.

 

Economy will shrink around 4.6% this year, the minority coalition said its budget on Monday, a milder hit than many other European countries, some of which are being forced to re-impose Covid restrictions after a surge in new cases.

 

The Social Democrat and Green coalition said the budget would focus would be on boosting jobs among others.