Swedish Government Raises Economic Growth Outlook for 2011

Sweden’s government raised its forecast for economic growth this year after it cut taxes and as the largest Nordic economy benefits from demand for its exports.

Gross domestic product will expand 4.8 percent this year, compared with an October estimate for 3.7 percent growth, Finance Minister Anders Borg said at a press conference in Stockholm today. Output will grow 3.5 percent in 2012, versus a previous forecast for 3.4 percent it said. The expansion rate will ease to 3.2 percent in 2013, it said.