OECD economic surveys : Sweden 2023 / OECD.

Format:

Book

Author/Creator:

OECD, author.

Series:

OECD Economic Surveys: Sweden Series

OECD Economic Surveys: Sweden

Language:

English

Subjects (All):

Economics.

Physical Description:

1 online resource (113 pages).

Edition:

1st ed.

Other Title:

OECD Economic Surveys

Place of Publication:

[Place of publication not identified] : OECD Publishing, 2023.

Summary:

After a relatively strong performance during and after the pandemic, short-term growth prospects are weak. High inflation has eroded real wages and tighter monetary policy has increased borrowing costs and led to a housing price correction. Macroeconomic policies should ensure that higher inflation does not become entrenched. Better matching skills to labour demand, loosening rent controls and improving the integration of disadvantaged groups into the labour market could further boost employment and lay the ground for an inclusive recovery. Income taxation and the social safety net could also better incentivise work, in the context of population ageing and mounting spending pressures ahead. Sweden is among the OECD's best performers in reducing greenhouse gas emissions, with a comprehensive policy framework and relatively efficient policies. However, the decision to reduce biofuel blending requirements will likely move the 2030 reduction target out of reach unless compensated by new ambitious measures. Completing a nascent green industrial revolution will require considerable investments in electricity generation, storage and transmission, but long planning and permitting procedures slow many key projects down. Attracting the people and skills to run industry and complementary public services is a particular challenge for northern communities already facing labour shortages.SPECIAL FEATURES: CLIMATE POLICIES AND SWEDEN'S GREEN INDUSTRIAL REVOLUTION.

Contents:

Intro

Foreword

Basic statistics of Sweden, 2022

Executive summary

Growth is challenged by Russia's aggression

Labour market matching could improve

Climate policies need to tighten to reach targets

A nascent green industrial revolution is fuelled by clean electricity

1. Key policy insights

1.1. The economy is facing external headwinds

1.2. Financial stability risks should be monitored closely

1.3. Monetary policy has been tightened

1.4. Fiscal policy support should be gradually phased out

1.5. Structural reforms for a stronger and more inclusive labour market

Addressing long-term unemployment notably among the foreign-born

Lowering taxes on work

Reforming the pension system

Addressing skills mismatch

Relaxing rent controls

1.6. Keeping corruption low

References

2. Climate policies and Sweden's green industrial revolution

2.1. Climate change will affect Sweden, but uncertainty is high

2.2. Climate policy in Sweden: successes and challenges

Institutional set-up and emission reduction targets

Sweden's main climate policy instruments

Policy needs tightening and more coherence

Transport sector policies and target

Agriculture

Negative emissions and supplementary measures

2.3. Investing in electricity supply and people to fuel the green transition

Large investments are needed in clean and reliable electricity

Spatial planning, permits and competing land claims slow down the transition

A fast green transition requires people, services and infrastructure

References.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-67569-8

92-64-91640-7