Economy

Swedish growth  

Swedish Business: Sweden is in recession 

 

Sweden is in a recession, writes Svenskt Näringsliv in its latest economic report. 

 

At the same time, the employers' organization highlights glimmers of light. Among other things, it is pointed out that there is increasing evidence that the inflation target will be reached during the year and that interest rates will consequently be lowered "several times both this year and in 2025".  

 

The organization predicts that economic activity will increase gradually in the second half of the year. "However, it will take until 2025 before the economy recovers and the economy begins to grow at a higher rate."  

........................................

 

The income gap  

The gaps are increasing sharply: "That's where Sweden stands out" 

 

The economic gaps have increased sharply in Sweden since the 1990s and the housing market is a culprit in the drama. This is what the Fiscal Policy Council writes in a report, according to TT.  

 

- That's where Sweden stands out, says chairman Lars Heikensten to the news agency.  

 

Heikensten believes that housing prices and increased borrowing largely explain why the differences have increased. Adjusted for capital income, the differences have instead shrunk since the mid-1990s, which goes against the trend in many other countries.

 

*********************

 

Political situation in Nigeria  

Major crisis in Africa's largest economy triggers protests  

 

Nigeria is struggling with inflation of 30 percent and the naira currency is at a historic low against the dollar. Africa's largest economy has not fared worse in decades and the development culminated in nationwide protests over the past weekend, writes CNBC.  

 

President Bola Ahmed Tinubu stated on Tuesday that the government is planning several measures to stabilize the naira, which has fallen around 70 percent since May.  

 

Shortages of fuel, food and electricity threaten price stability and the country is burdened with record high national debts and high unemployment. 

  

- At the same time, inflation risks rising out of control, says Oxford Economics senior economist Pieter Scribante.

 

​