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Sweden hikes growth forecast for 2010, 2011

Sweden's government on Friday raised its economic growth forecast to 4.5 percent for 2010 and to 4.0 percent in 2011, a dramatic shift from previous estimates of 3.3 percent and 3.8 percent respectively.

Published: 20 August 2010 15:58 CEST

Sweden hikes growth forecast for 2010, 2011

Finance Minister Anders Borg in Nyköping on Wednesday

“The Swedish economy has shown an unexpectedly strong development during the first six months of the year,” the finance ministry said in a statement.

“The unexpectedly strong and broad recovery, combined with increasingly optimistic hope for the future among households and companies and an improved situation abroad has led the finance ministry to increase its gross domestic product (GDP) forecast for this year and next,” it added.

Meanwhile, Finance Minister Anders Borg cautioned that “large risks remain, especially if one looks abroad where many countries are dealing with considerable difficulties in their public finances.”

Borg said in the statement. “The government there wants to remain careful. Returning to a surplus is our highest priority so we can defend Sweden against new threats.”

The new forecasts were published just a month ahead of Sweden’s September 19th elections, with the centre-right government hoping a strong economic recovery will help it win a second four-year term.

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Today in Norway: A roundup of the latest news on Wednesday

Trondheim harbour. Photo by Carlo Alberto Burato on Unsplash

Norway passes 2 million vaccines administered
Norway has now administered more than 2 million vaccines in total, health authorities have announced.

According to the Norwegian Institute of Public Health, the Nordic country passed the landmark on Tuesday evening.

Since the first vaccine dose was given on December 27th, 2020, Norway has administered 2,019,546 doses of a coronavirus vaccine.

READ MORE: Norway to offer everyone second Covid-19 vaccine by end of August

So far, 1,503,794 people have received their first dose, and 515,752 people have received their second dose.

“I want to say a big thank you to all those who are out in the municipalities and who ensure such good progress is being made. I am delighted that the vaccination program in Norway continues at a good pace,” Health Minister, Bent Høie, told news agency NTB.

Number of gambling addicts seeking help during the pandemic rises sharply
The number of people who contacted Gambling Addiction Norway for the first time rose sharply in 2020.

792 people contacted Gambling Addiction Norway compared to 436 the year before, an increase of 82 percent.

Furthermore, the organisation says that numbers this year compare similarly with last year.

“We have never such high numbers before,” Lill-Tove Bergmo, leader of the organisation.

Current Coronavirus restrictions in Oslo extended until end of May
Oslo’s local Covid-19 restrictions will not be relaxed until May 27th t at the earliest.

Next week, the city council will decide whether the city will have more measures lifted at the end of May.

The city has adopted a phased approach to the second step of its five-step plan to reopen.

READ MORE: Oslo relaxes Covid restrictions with shops and malls to reopen

The next set of measures that will be lifted will see bar’s and restaurants reopen and serve alcohol, along with gyms reopening.

“I understand that the hospitality industry and owners and users of gyms are getting impatient. The first part of step two of the reopening plan seems to have gone well, but we must still be careful. If infections stay low, then it should be possible to open restaurants, gyms, museums and more before may is over,” the city’s mayor, Raymond Johansen, said.

Decline in Norwegian economy in the first quarter
GDP for mainland Norway fell by one percent in the first quarter, according to seasonally adjusted figures.

There was an economic decline in each of the first three months of the year due to increased coronavirus infections and stricter infection control measures that sure retail and hospitality close in parts of the country.

READ MORE: Explained: What Norway’s revised budget means for you

Total GDP, which accounts for offshore oil and gas extraction, and foreign shipping, fell by 0.6 percent.

Mainland Norway’s GDP was two percent lower in March 2021 compared to when the pandemic began.

473 new Covid-19 infections recorded
On Tuesday, 473 coronavirus infections were registered, a decrease of 36 on the seven-day average.

In Oslo, 86 cases were recorded on Tuesday, 23 less than the seven-day average.

The R-number or reproduction rate in Norway is currently 0.7. This means that the pandemic is receding in Norway as for every ten people that are infected, they will, on average, only infect another seven people.

Total number of Covid-19 cases. Source: NIPH

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