Swedish government to inject more funds million into economy, focusing on construction
Investing.com -- The government of Sweden announced on Friday that it will be boosting its spending by 5.8 billion crowns ($573 million) this year, primarily aimed at supporting the construction sector.
Finance Minister Elisabeth Svantesson earlier this week described the international conditions as "brutally uncertain". The government’s increased spending is intended to offer temporary support to the construction industry in the current economic situation, and it is also expected to assist the economy overall.
The government acknowledged that the economic recovery is being delayed, in part due to the significant uncertainty in the global economy. The right-wing government will present its spring amendment budget bill to parliament on April 15, outlining these changes.
Of the total increased spending, 4.4 billion crowns will be allocated towards a temporary rise in tax deductions for the renovation and maintenance of private buildings.
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