“The worst of the financial crisis is behind us”
Swedish Handelsbanken’s chief economist said brighter future await the Swedish economy as the credit market is back up on its feet.
[Svenska Handelsbanken's head office in Stockholm]
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Jan Höggström, chief economist at Svenska Handelsbanken, Sweden's second-biggest bank by market value, struck a cheerful tone in an interview with Swedish Radio on Friday as experts are becoming more optimistic about the economic future.
"The worst of the financial crisis is behind us. There is no lack of credit availability in Sweden, in fact there's very strong growth in lending to the housing and corporate sector”, he said.
He forecasts the Swedish economy to shrink by 4.7 percent this year while it will rebound with a 2 percent newxt year and 3 percent in 2011.
The outlook came the day after the Swedish Trade council said in its Export manager’s index for the third quarter that demand is swelling for Swedish export companies from all over the world, especially from North America and Asia.
Jan Häggström said that Sweden will continue to benefit from the strong development in China.
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Last Updated (Friday, 28 August 2009 13:04)
