Sweden boosts economic growth forecast

The Swedish government on Thursday,  3 March 2011, raised its economic growth forecast for this year and said unemployment  would shrink significantly, following the recent publication of strong statistics. Finance Minister Anders Borg said that the government now expects Sweden's gross domestic product this year to grow 4.8 percent, up from its previous estimate of 3.7 percent. "We now predict growth of well above four percent, which signifies that we already now have erased the impact of the crisis and that we will continue to see rapid growth," Borg said.

For 2012, the government now expects Sweden's economy to grow 3.5 percent, slightly higher than its previous estimate given in October of 3.4 percent, the finance ministry said.

Full article is available here. Source: The Local Sweden's News in English, March 2011