Europe

Sweden, which refused to be quarantined, faced a problem

Sweden, which refused to introduce quarantine during the first wave of coronavirus, faced a problem. The country's economy is recovering at a slower pace than expected. This is reported by Bloomberg with reference to the statement of the head of the Central Bank of the Kingdom of Stefan Ingves (Stefan Ingves).

According to the head of the regulator, it turned out that the country's economy was affected by the coronavirus more than it is reflected in official reports. Currently, it is extremely difficult to say how long it will take to restore it.

Chief economist of one of the largest banks in Sweden Skandinaviska Enskilda Banken Robert Bergqvist (Robert Bergqvist) admitted that the regulator will go for additional incentives. In particular, in his opinion, the Central Bank may turn to expanding the quantitative easing program by 20 percent, up to $ 70 billion. According to the September forecast of the Central Bank of Sweden, the Kingdom's GDP will fall by 3.6 percent by the end of 2020. In the previous report, the regulator predicted a more significant drop of 4.5 percent. At the same time, the expected rate of economic recovery in 2021 has not changed much — if in the previous forecast, the regulator predicted GDP growth of 3.6 percent, now it assumes that it will be at the level of 3.7 percent.

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