<p>Sweden's government will pump 105 billion crowns ($12 billion) into the economy in 2021 in tax cuts and spending measures in a record giveaway aimed at getting the economy back on its feet after the coronavirus pandemic-induced slump.</p>.<p>The government forecast Sweden's gross domestic product will shrink around 4.6% this year in its budget on Monday, a milder hit than many other European countries. But the government said record fiscal stimulus was needed to get the country moving again.</p>.<p>"Together we are going to work Sweden's way out of the crisis and build a more sustainable society," the minority coalition said in a statement.</p>.<p>While many countries in Europe are re-imposing Covid restrictions after a surge in new cases, attention is turning to how to kickstart economies to ensure those who lost their jobs during the pandemic are not permanently side-lined and to support an new era of environmentally sustainable growth.</p>.<p>Sweden's Social Democrat and Green coalition said the focus would be on boosting jobs, welfare and supporting the switch to a carbon-free future as it outlined a raft of tax cuts and new spending.</p>.<p>Most of the budget was already known, with measures a hodge-podge agreed with two small-centre right parties which help keep the coalition in power.</p>
<p>Sweden's government will pump 105 billion crowns ($12 billion) into the economy in 2021 in tax cuts and spending measures in a record giveaway aimed at getting the economy back on its feet after the coronavirus pandemic-induced slump.</p>.<p>The government forecast Sweden's gross domestic product will shrink around 4.6% this year in its budget on Monday, a milder hit than many other European countries. But the government said record fiscal stimulus was needed to get the country moving again.</p>.<p>"Together we are going to work Sweden's way out of the crisis and build a more sustainable society," the minority coalition said in a statement.</p>.<p>While many countries in Europe are re-imposing Covid restrictions after a surge in new cases, attention is turning to how to kickstart economies to ensure those who lost their jobs during the pandemic are not permanently side-lined and to support an new era of environmentally sustainable growth.</p>.<p>Sweden's Social Democrat and Green coalition said the focus would be on boosting jobs, welfare and supporting the switch to a carbon-free future as it outlined a raft of tax cuts and new spending.</p>.<p>Most of the budget was already known, with measures a hodge-podge agreed with two small-centre right parties which help keep the coalition in power.</p>