June 15, 2020 / 2:21 PM / 19 days ago

Swedish economy has fared better than expected - c.bank's Breman

STOCKHOLM, June 15 (Reuters) - The downturn in the Swedish economy has not been as bad as the Riksbank feared in it’s latest monetary policy report, central bank Deputy Governor Anna Breman said on Monday.

“Economic statistics have shown that in the first quarter the downturn was not quite as big as expected but we still expect at severe downturn in the second quarter,” Breman said in a speech.

At its latest policy meeting in April the Riksbank laid out two scenarios, one had Swedish GDP declining 6.9% in 2020, whereas the more negative had a drop of 9.7%.

Reporting by Johan Ahlander; editing by Simon Johnson

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