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2008 OECD Economic Surveys: Sweden 2008

image of OECD Economic Surveys: Sweden 2008

This 2008 edition of OECD's periodic survey of Sweden's economy addresses key economic challenges being faced in Sweden including the current economic crisis and fiscal policy, tax reform, education and easing impediments to youth employment, and the next phase of privatisation.

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Fiscal policy

What should the targets be?

The current fiscal policy framework was introduced after the crisis of the early 1990s as part of a stability-oriented macroeconomic policy framework. The simple but clear surplus target has been successful at achieving fiscal consolidation, but it may now be time to refine the fiscal strategy to ensure that the sound fiscal position can be sustained in the long term. This chapter assesses the achievements of the current framework and suggests more clearly underpinning the fiscal targets by long-term sustainability and intergenerational equity considerations. Key questions are what future fiscal pressures should be expected and to what extent alternative policies can be used to deal with them: pre-funding, increased labour utilisation, raising efficiency in public service provision via competition and user choice and shifting the balance between public and private funding. 

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