Sweden’s green approach not helping the economy

Sweden’s green approach not helping the economy

Sweden as well all know is known for its amazing clean and green approach towards all the aspects of life. The economy of the nation is also somewhat based on the same green and clean lines. Sweden is taking the new concept of the circular economy and implementing it.

Sweden’s booming circular economy is heading for an economic slowdown following the global trend of economic slowdowns, but some regions will be worse affected than others. A new report predicts where in Sweden the downturn will hit first. “Growth in Sweden is expected to be bleak in autumn 2019, and it cannot be ruled out that we will be seeing negative GDP figures for one or several quarters. Employment is falling and unemployment is rising. Resource utilization will be lower than normal, which (the report defines as) a recession,” warns Nordic banking giant Nordea in a new report on the Swedish regional economy. The Swedish national economy is expected to grow 1.3 percent between 2019 and 2020, which is a significant slowdown compared to previous years and follows an overall global downturn.

“Brexit and increased geopolitical tensions are putting a wet blanket on global development,” states the report, also singling out the ongoing trade conflict between the US and China as a risk factor. And there are three areas of Sweden where things are looking especially bleak. These areas can get hit before the rest of Sweden and the recession hit will also make a huge impact on the economy of the nation.