Sweden among the hardest hit by crisis
According to the OECD, Sweden will be among the countries hardest hit by the financial crisis. The organisation believes the Swedish economy will experience a stagnation more serious than in the Euro-zone.
According to the latest OECD Economic Outlook, the crisis will be the most serious international downturn since the early 1980s. More than eight million people are over the next two years expected to lose their jobs in the OECD countries.
Sweden could be among the OECD countries hardest hit, newspaper Dagens Industri reports. According to the outlook, the economic downturn in the country will be worse than in almost all other industrialized countries. Swedish economic figures will be worse than in Great Britain, the Euro-zone, and almost as bad as in the USA, journalist Gunnar Örn reports for DI.se.
While the OECD does not believe in an economic recession in Sweden, the Swedish SEB bank believes the national economy next year will shrink with 1,4 percent. Then in 2010, the economy will grow with the modest 0,9 percent. Up to 140,000 jobs will disappear in the country and unemployment increase to more than 10 percent, the bank estimates indicate.
