These reforms have helped prevent and contain the accumulation of public debt. The so-called “debt anchor” (skuldankare), introduced in 2019, is an instrument aimed at maintaining long-term debt at 35% of GDP.

In addition, the Swedish Financial Policy Board (Finanspolitiska rådet) was established in 2007. Its experts review the government’s policy decisions regarding public finances to ensure that they are consistent with the goals of growth, employment and long-term financial sustainability.

A dynamic economy

The Swedish economy is diversified and highly competitive. In 2023, Sweden was among the top 10 most competitive countries in the world according to the IMD World Competitiveness Ranking.

A key feature of the Swedish economy is its openness and liberal approach to trade and business. Sweden has traditionally been an export-oriented country. It maintains a positive trade balance, meaning the value of goods and services exported from Sweden exceeds the value of imports into Sweden.