Tuesday 24 December 2019

Sweden Economy will continue to slow down next year

The economy of Sweden is a developed export-oriented economy. It is aided by timber, hydropower, and iron ore. These are the important resources of an economy oriented toward foreign trade. Time zone in Sweden is Central European Standard Time. Stockholm is the capital and largest city of Sweden. Stockholm is located at the junction of Lake Mälar (Mälaren) and Salt Bay (Saltsjön), an arm of the Baltic Sea, opposite the Gulf of Finland. The city is built upon various numerous islands as well as the mainland of Uppland and Södermanland. These are the biggest cities in Sweden: Stockholm, Gothenburg, Malmö, Uppsala and Västerås. The population of Sweden is about 10 million people.

The government of Sweden is interesting. The Prime Minister is appointed by the Riksdag. The ministers (statsråd) are appointed by the Prime Minister. The Government of the Kingdom of Sweden (Swedish: Konungariket Sveriges regering) is the national cabinet and the supreme executive authority of Sweden.

Sweden and Switzerland sound similar, but they are different. Sweden is 450k square kilometres in size, while Switzerland is only 41k. Sweden has a long coastline along the Baltic Sea and the Kattegat. Switzerland is landlocked. Both countries have mountains, but the Swiss Alps are newer and higher than the Scandinavian Mountains in Sweden. The Swiss Alps make up more of the country.

Swedish is the official language of Sweden. Almost the entire population of Sweden speak Swedish with most speaking it as a first language and the rest as a second language. The Swedish language is a North Germanic language that closely resembles Norwegian and Danish.

The Swedish Krona is the official currency of Sweden. Swedish cuisine is mostly cultured dairy products, crisp and soft (often sugared) breads, berries and stone fruits, beef, chicken, lamb, pork, eggs, and seafood. Potatoes are often served as a side dish, often boiled.

Sweden’s economy will continue to slow down next year. The inflation will slip further. The economy remains vulnerable to possible negative outcomes from the trade conflict between USA and China, Brexit and other global issues. After several years of operating well, the Swedish economy has entered a slowdown phase. Many analysts say the phase is normal.

Inflation is below target. It will drop further in the next few years. Inflation is expected to be about 1.6% next year.

Sweden’s central bank, the Riksbank, has ended its 5-year experiment with negative interest rates. Negative interest rates might have been a bad economic idea.


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