Sweden: 2024 Article IV Consultation-Press Release; and Staff Report

Sweden: 2024 Article IV Consultation-Press Release; and Staff Report
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Volume/Issue: Volume 2024 Issue 070
Publication date: March 2024
ISBN: 9798400270185
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Business and Economics - Statistics , International - Economics , liability positions vis-à-vis nonresident , money market rate , inflation risk , inflation expectation , HICP inflation , Inflation , Government finance statistics , Fiscal stance , External sector statistics , Global , Europe

Summary

After a strong post-pandemic performance, economic activity has weakened. GDP contracted slightly in 2023. An unprecedented monetary policy tightening started in mid-2022 to rein in inflation, which has been declining after peaking at 10.8 percent in end-2022. Weak real incomes, elevated interest expenses, and declining real estate valuations have weighed on private consumption and residential investment and strained the highly levered commercial real estate sector. Policies need to carefully maneuver the economy. Strengthening productivity growth is a key medium-term challenge.