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2019 OECD Economic Surveys: Sweden 2019

image of OECD Economic Surveys: Sweden 2019

The Swedish economy is growing steadily, but the expansion has peaked and global uncertainties weigh on the outlook. Monetary and fiscal stimulus has supported the recovery, but is being gradually withdrawn as the economy operates close to full capacity. Strong public finances provide space for fiscal loosening in the case of a downturn, especially as low interest rates reduce monetary policy margins. Beyond a strong economy, Sweden enjoys high well-being, low inequality and strong environmental performance. Nevertheless, some structural issues need to be addressed, notably alleviating obstacles to housing affordability and enhancing the efficiency of public services by seizing the opportunities offered by digitalisation. Maintaining a high level of workforce skills is essential to sustain growth, competitiveness and social cohesion, calling for action to lift educational performance and promote lifelong learning. Against a background of lacklustre school results and increasing segregation, this Survey proposes a coherent set of reforms to strengthen education institutions, better target funding to pupils’ needs, enhance the steering of competition and school choice, increase the attractiveness of the teaching profession and reinforce teacher education.

SPECIAL FEATURE: EDUCATION

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Basic Statistics of Sweden, 2017

(Numbers in parentheses refer to the OECD average)*

This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.The economic situation and policies of Sweden were reviewed by the Committee on 11 February 2019. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on 1 March 2019.The Secretariat’s draft report was prepared for the Committee by Christophe André, Jon Kristian Pareliusen and Hyunjeong Hwang, with contributions from Andres Fuentes Hutfilter, under the supervision of Vincent Koen. Secretarial assistance was provided by Sisse Nielsen.The previous Survey of Sweden was issued in February 2017.

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