Cyprus recently made clear it doesn’t want Swedish residents entering the island. Sweden’s economy grew in the first quarter as many other countries sank into a deep recession, adding to a debate on how best to tackle the spread of Covid-19. Instead, But the unconventional strategy has faced some pushback from experts, who have said the policy, in hindsight, “Jacob Kirkegaard, a senior fellow at the Peterson Institute for International Economics in Washington, “They literally gained nothing,” Kirkegaard said. Instead, the government has encouraged citizens to observe social distancing rules.The country’s top epidemiologist, Anders Tegnell, argues that the Swedish model is designed to cope with a long-term health crisis. Sweden’s light-touch response to coronavirus has helped its economy and limited loan losses for the banking sector, the head of one of the country’s largest lenders has said. Strict lockdowns aren’t sustainable when tackling a virus that may be around for years, he says.But the policy appears to be costing more lives here and now. People walk on a busy shopping street in Stockholm, on May 22.People walk on a busy shopping street in Stockholm, on May 22.Sweden’s economy grew in the first quarter as many other countries sank into a deep recession, adding to a debate on how best to tackle the spread of Covid-19.Sweden has opted for a softer lockdown, but its approach has resulted in a higher death rate than in many other countries.
JP Morgan has forecast Sweden’s economy will contract less than the euro area, with a 2.4% contraction in the first quarter of this year and a 13.7% percent contraction in the second. It’s also raised concerns in other European Union countries as they start opening borders. Sweden’s unusual coronavirus strategy has not resulted in significant economic gains, data indicates, and has instead left the country with a far deadlier outbreak than its Nordic neighbours.Sweden never issued a formal lockdown in response to the coronavirus pandemic. “A shutdown could have given us a chance to prepare ourselves, think things through, and radically slow the spread of infection.”Gigi Hadid Is Out Here Calling Zayn Her ‘Baby Daddy’ & Uhh,...We Desperately Wanna Know Which ‘Celebrity/Influencer’...Trump Says He Plans To Ban TikTok In The United States As Early As...Alex From ‘Bachie In Paradise’ Has A Very Interesting Arm...In About-Face, UK Will Not Allow Huawei To Be Involved In Any Part Of...Universal Orlando Parks Will Reopen June 5 Despite Risk Of...Pro-Privacy Lawmakers Secure A Vote To Protect Browsing Data From...Jurassic World: Dominion Is Definitely Not The Planned End Of The...White Twitch Talk Show Host Finally Drops 'Rajj Patel' MonikerCall Of Duty's Battle Royale Adds Random Event That Resurrects...Mehmet Emin Menguarslan/Anadolu Agency/Getty Images
Sweden’s central bank expects its economy to contract by 4.5 percent this year, a revision from a previously expected gain of 1.3 percent. Though the virus has at no point overwhelmed the country’s health system, the high mortality rate has forced Swedish authorities to defend their approach to the pandemic.Swedish shops, schools, gyms and restaurants have all remained open throughout the crisis. Sweden, a country of 10.3 million, had reported 4,639 COVID-19 deaths This is not to say lockdown is not a solution but then each path has its own costs in terms of the economy and lives.
The unemployment rate …