Sweden Responds to Virus Threat With Wage Support for Businesses
(Bloomberg) -- Sweden is set to expand an existing support program for businesses to protect the largest Nordic economy from the fallout of the novel coronavirus, according to local media.
Finance Minister Magdalena Andersson said the virus has “clearly shown that production and jobs in Sweden are affected by disruptions abroad, and that new regulations are needed,” according to an op-ed in Aftonbladet.
The agreement, which was struck between the Social Democrat-led government, the Center Party and the Liberal Party, entails providing state support over a six-month period to cover the cost of wages for staff at risk of losing their jobs due to trade disruptions.
The government is due to discuss the economic risks posed by the coronavirus at a press conference scheduled for 11:30 a.m. in Stockholm.
To contact the reporter on this story: Rafaela Lindeberg in Stockholm at rlindeberg@bloomberg.net
To contact the editor responsible for this story: Tasneem Hanfi Brögger at tbrogger@bloomberg.net
©2020 Bloomberg L.P.
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