The Swedish economy continues to outperform other advanced economies. In the past, the Nordic nation has been criticised over state intervention, but now it tends to be presented as an example of how to optimise market capitalism. What’s the secret?Sweden.se
Sweden’s gross domestic product (GDP) per capita is among the highest in the EU, it has low inflation and a healthy banking system. But this has not always been the case. Historically, the Swedish economy suffered from low growth and high inflation, and the Swedish krona was repeatedly devalued. Sweden was also hit by a severe financial crisis in the early 1990s. Banks became unstable and two were nationalised, unemployment rose sharply, government spending soared, as did national debt.
The path back to stability and success was not easy for Sweden. But by pursuing inventive and courageous reforms – and sticking to them – Sweden has transformed its economy, paving the way for robust growth in the face of global economic uncertainty. READ FULL REPORT HERE