Sweden making a spectacular recovery: GDP Q2 +4,6% & budget surplus by 2012

[DrGee5]

Source: The Local

Sweden appears to be making a spectacular recovery from the deep recession its export-reliant economy experienced during the global financial crisis. "It's pretty fair to say that the sun is shining over the Swedish economy currently," Swedish Finance Minister Anders Borg told reporters after the latest figures were published.

Economic growth in the Scandinavian country accelerated in the second quarter by 4.6 percent on a 12-month comparison according to revised numbers from the national statistics agency.

With less than two weeks to go ahead of general elections, these figures represent the country's highest growth rate since 2000.

The latest GDP figures "probably mean that you actually have to compare Sweden to Asia to see figures of the same magnitude. Very few European countries are above three percent and even fewer are above four percent," Borg said.

He added that on top of having the smallest deficit in the EU, the government expects to post a budget surplus by 2012.

Read more: http://www.thelocal.se/28866/20100908

[Joanne98]

1. Socialism works!

[xchrom]

2. Recommend

[Demeter]

3. Have they taken their losses in Central European Mortgages Yet?

[DrGee5]

5. Actually the answer is very simple: yes

Swedbank was the Swedish lender hit hardest by the economic crisis 2009, but they are doing just fine now.

http://www.bbn.ee/article/2010/04/27/Swedbank_earnings_to_improve_after_first_profit_since_2008

[GoddessOfGuinness]

4. I guess we wouldn't want to consider what they did to fix things...

We might choke on our pride.

[iowasocialist]

6. Keep in mind

As much as I would like to point with pride at this as an affirmation of the ideals of a Social Democratic government, please note that this economic growth comes after 4 years of a conservative (at least for Sweden) government. Not that it was their policies that brought this about, necessarily, maybe they just lucked out.

Now, on the 19th of September, voters in Sweden will go to the polls, very likely to return the conservative coalition to power.

What will this mean for Sweden, if the Social Democrats lose? Will the Sweden many of us looked to as a model evolve into just another European nation dealing with Americanization and globalization?

It sometimes seems that everything I seemed to value is fading away...

[pampango]

10. And the far-right wing Sweden Democrats might win seats for the first time.

http://www.reuters.com/article/idUSLDE67O19D20100825

The Novus poll showed Prime Minister Fredrik Reinfeldt's four-party "Alliance" with 48.9 percent of the vote versus the "Red-Green" coalition's 44.6 percent.

But the anti-immigrant Swedish Democrats registered 4.7 percent support, enough to get seats in parliament and increasing the chance that neither the centre-right nor centre-left will obtain an absolute majority on Sept. 19.

Both the Moderate-led government and the centre-left opposition have ruled out cooperating with the Swedish Democrats, should the right-wing party get over the 4 percent hurdle for seats in parliament.

[Quantess]

11. In these times of belt-tightening,

Sweden will no longer be providing free university education to anyone of any nationality, from anywhere in the world. Starting next year, international students (from outside the EU) will have to pay tuition, but it will still be free for EU citizens. That's so conservative! Oh no!!!1

[TheKentuckian]

16. Their conservatives mostly make our liberals look like monarchists.

We must stop pretending our view of conservative is even worthy of discussion.

When there is talk of approaching old school Democratic policies the Euros take to the fucking streets and bust shit up because the people don't even play our best efforts.

They all have a few arch wingers that would fit in fine with the DLC or the Republicans but they are generally made to sit in the corner with a dunce cap on in most rational countries.

[aquart]

7. This is with healthcare, right?

[Lasher]

9. Yes, that and more.

Sweden has one of the most highly developed welfare states in the world. The country has a higher level of social spending to GDP than any other nation. This results in the country having some of the lowest levels of both relative and absolute poverty, and one of the most equal income distributions. Additionally it provides equal as well as comprehensive access to education and health care.

<snip>

Eighty percent of the workforce is organized in trade-unions which also have the right to elect two representatives to the board in all Swedish companies with more than 25 employees. Sweden has a relatively high amount of sick leave per worker in OECD: the average worker loses 24 days due to sickness.

http://en.wikipedia.org/wiki/Sweden#Public_policy

Union membership in the US is 12.4% of the total workforce.

[Kringle]

8. Sweden has no international responsibilities

if/when Obama takes us out pf A'stan,
the depression ends

[hunter]

14. The U.S. has no international responsibilities either. We have oil interests.

Empire is expensive, most especially empires fueled by oil.

[DrGee5]

12. Oh no they didn't... Sweden passes US in competitiveness survey -->

"Sweden has overtaken the United States and Singapore in a new ranking of the world’s most competitive economies published by the World Economic Forum.

Sweden climbed two spots in the Geneva-based organisation’s annual Global Competitiveness Report, landing in second place behind Switzerland, which topped the rankings for the second year in a row." ...

"The Global Competitiveness Report’s competitiveness ranking is based on the Global Competitiveness Index (GCI), which takes into account 12 pillars of competitiveness.

The pillars include institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labour market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation."

http://www.thelocal.se/28878/20100909

http://www.bloomberg.com/video/62788574

:cry:

[CanonRay]

13. Hard to believe Swedes used to emigrate here!

[Quantess]

17. I'm ready to emigrate there!

I've got dual citizenship. B-)

[Blue_Tires]

15. wall street is hoping the rest of america doesn't hear about this...