Sweden ‘outshines the troubled euro zone’

augusti 9th, 2012

Dow Jones said that the recent stellar rise of the krona against the euro seems well-founded given the way Sweden’s robust economic growth and rock-solid finances have helped the country outshine the troubled euro zone. For now the krona is everyone’s favorite, strengthening by more than 6% against the euro since mid-May, the newswire said. Even modest economic results are well received just because things look so bad elsewhere in Europe. Sweden’s economy grew by 1.5% in the first three months of 2012, in contrast to the 0.1% fall seen in the euro zone. Swedish Finance Minister Anders Borg said that Sweden’s economic growth will slow less than previously expected in 2012 and the economic situation could give room for more long-term investments.

”Growth and employment developed relatively strongly in the early part of 2012 which means the forecast for the year as a whole is raised,” the ministry in Stockholm said. ”It is at the same time low in a historical context.”

(Source: www.swedishwire.com)