March 24, 2020 / 9:23 AM / 7 days ago

Swedish budget watchdog sees deficit as govt ramps up spending to fight virus

STOCKHOLM, March 24 (Reuters) - Sweden’s budget watchdog ESV said on Tuesday it expected the government to run a deficit this year that could reach as much as 3.3% of gross domestic product as it ramps up spending to dampen the effects of the outbreak of the coronavirus.

In the worst scenario, the economy would contract 3% in 2020, ESV said, leading to a large deficit. A less negative scenario would see a contraction of 1% in the economy and a budget deficit of 1.9% of GDP, it added.

Reporting by Simon Johnson; editing by Niklas Pollard

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below