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Deficit in Swedish finances in 2020 smaller than seen previously - watchdog

·1-min read

STOCKHOLM (Reuters) - Sweden's public sector finances will run a slightly smaller deficit this year than feared previously, despite the extension of measures to support the economy through the pandemic, the government's budget watchdog said on Friday in a new forecast.

The deficit in public finances will be around 3.9% of gross domestic product, the ESV said. In September, it forecast a deficit of 4.2%.

The ESV estimated that the economy would shrink 3.9% this year, a better outcome that the 4.4% contraction it saw in September.

(Reporting by Simon Johnson; editing by Johannes Hellstrom)