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IMMIGRATION

Sweden plans to introduce tests for permanent residency from 2027

Adults seeking permanent residency in Sweden from 2027 will need to pass tests on Swedish language and society first, a new government inquiry has proposed.

Sweden plans to introduce tests for permanent residency from 2027
Migration minister Maria Malmer Stenergard. File photo. Photo: Lars Schröder/TT

“For someone living and working in this country, it is essential to have knowledge of the Swedish language and understand the basic conditions of Swedish society,” Migration Minister Maria Malmer Stenergard said.

“It is important that a person understands what responsibilities, but also rights, they have in society,” she added.

EXPLAINED:

The law is not yet officially in place: This is a proposal from the inquiry set up to investigate the introduction of tests on language and societal knowledge for permanent residency, which has now been submitted to the Swedish government, although it suggests putting it in place from July 1st, 2027.

Stenergard described it as “frustrating” that the proposed date of implementation is four years away, although she added that she understands that time is needed for the language and culture tests to be formulated. 

The inquiry report is based on a proposal made by the parliamentary migration committee a few years ago under the previous Social Democrat government and is similar to other language or cultural knowledge requirements in other European countries.

UPDATED:

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MONEY

Sweden’s central bank raises key interest rate to 4 percent

Sweden's central bank hiked the key interest rate on Thursday by 0.25 percentage points from 3.75 to 4 percent, while flagging that further rate hikes are likely.

Sweden's central bank raises key interest rate to 4 percent

This is the eighth interest rate hike in a row, and was broadly expected by Swedish banks and financial experts. Sweden’s key interest rate has not been this high since October 2008.

The bank also warned in a statement that Thursday’s interest rate hike may not be enough to curb inflation, and that more hikes are likely.

According to its prognosis for the coming years, the bank expects the average key interest rate to hit 4.03 percent in the last quarter of 2023 and 4.10 percent by the third quarter of 2024, before dropping slightly to 4.04 percent by the third quarter of 2025.

It expects the average key interest rate to dip under the 4 percent mark in 2026, with an average rate of 3.69 percent in the third quarter of that year.

The bank also believes that the krona is undervalued.

“At the moment, the krona is undervalued,” it wrote in a separate statement. “Economic developments in Sweden relative to other countries suggest it will begin to gain value in the future, although it is difficult to predict how much and when.”

It believes that the krona’s weakening may be due in part to speculators, adding that this means that the krona’s value “could strengthen relatively quickly once this situation turns around.”

Having said that, it believes that the primary factor behind the weakening of the krona is differences in interest rates between the USA and other central banks.

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