## Sweden: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Sweden

_IMF Staff Country Reports, April 1, 2025_

## Source details

**Canonical URL:** [Sweden: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Sweden](https://www.imf.org/en/publications/cr/issues/2025/04/01/sweden-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-565801)

## Other formats

- [Markdown version](/en/publications/cr/issues/2025/04/01/sweden-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-565801/index.md)
- [Structured JSON version](/en/publications/cr/issues/2025/04/01/sweden-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-565801/index.json)
- [Bundle manifest](/en/publications/cr/issues/2025/04/01/sweden-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-565801/bundle-manifest.json)

## Bibliographic details
- Published: April 1, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229007566.002

---

### Key findings and assessment
- Inflation has been successfully brought under control; inflation is expected to remain anchored around the target.
- Sweden’s economy is described as robust and resilient and well positioned to face a more challenging environment.
- High uncertainty and a more challenging external backdrop are poised to test Sweden’s export-oriented economy.
- Slowing productivity growth and an aging population weigh on long-term growth.
- Macroprudential policy settings are appropriate and should be kept until systemic risks meaningfully subside.

### Monetary policy
- The current neutral monetary policy stance is appropriate given double-sided risks to inflation.
- Downside risks to inflation from a weaker recovery are offset by upside risks from global shocks.

### Fiscal policy and stabilization
- A moderately expansionary fiscal stance is appropriate.
- If downside risks materialize:
  - Automatic stabilizers should be allowed to fully operate.
  - There is scope for targeted support.

### Financial sector and macroprudential recommendations
- Macroprudential policy settings should be maintained until systemic risks meaningfully subside.
- Financial sector policy and financial sector stability remain central considerations given Sweden’s export orientation and external risks.

### Productivity and structural policies
- Reviving higher productivity growth will require actions on multiple fronts.
- Emphasis on policies to boost productivity is appropriate given the drag from slowing productivity growth and an aging population.

### Risks and scenarios
- Principal downside risk: a weaker global recovery that could drag on Sweden’s export-oriented economy and inflation.
- Principal upside risk: global shocks that could push inflation above target.
- Policy stance emphasizes flexibility: neutral monetary policy with a moderately expansionary fiscal stance and preserved macroprudential buffers.

*Source: Sweden: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Sweden (IMF).*

---

## Content in this bundle

- **1sweea2025001-print-pdf**
  - [1sweea2025001-print-pdf (Markdown version)](/-/media/files/publications/cr/2025/english/1sweea2025001-print-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [1sweea2025001-print-pdf (PDF)](/-/media/files/publications/cr/2025/english/1sweea2025001-print-pdf.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2025/04/01/sweden-2025-article-iv-consultation-press-release-staff-report-and-statement-by-the-565801_