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Swedish fiscal watchdog ups GDP forecast to 4.0% growth for 2021

Buildings under construction are seen in Stockholm

STOCKHOLM (Reuters) - Sweden's economy will pick up speed this year, growing 4.0% compared to 2020, the ESV fiscal watchdog said in a forecast published on Thursday.

Its previous forecast, from November, had been for growth of 3.1%.

"Continued high expenditure and further tax cuts will, however, lead to the deficit in public finances being as large as the previous year," ESV said in a statement.

(Reporting by Simon Johnson; editing by Niklas Pollard)