June 17, 2020 / 7:45 AM / 2 months ago

Swedish think tank sees GDP contracting 5.4% this year

STOCKHOLM, June 17 (Reuters) - Sweden’s economy will take a big hit this year but is expected to fare better than the economies in the eurozone, a leading think tank said on Wednesday.

National Institute for Economic Research (NIER) sees GDP falling by 5.4% this year and rise by 3.5% in 2021.

“One reason why the Swedish economy is not hit quite as hard in the is that the Swedish authorities’ measures to curb the spread of infection have been less far-reaching than in many other countries,” the NIER said in a statement.

In its previous forecast from April the think tank saw GDP declining by 7.0% this year and increasing by 4.8% in 2021. (Reporting by Johan Ahlander; editing by Johannes Hellstrom)

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