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Introduction
Anders Borg, Minister of Finance, Sweden
7 May 2012 -
Experiences from fiscal consolidation in Latvia
Valdis Dombrovskis, Prime Minister, Latvia
7 May 2012 -
The role of structural reforms in fiscal consolidation
Pietro Carlo Padoan, Chief Economist OECD
7 May 2012 -
Macroeconomic effects of fiscal consolidations: evidence of non-Keynesian effects
Göran Hjelm, Head of Research, National Institute of Economic Research, Sweden
7 May 2012 -
Panel discussion
Chair: Eric M. Leeper, Professor, Indiana University, Jurgen Ligi, Minister of Finance, Estonia, Ted Menzies, Minister of State (Finance), Canada, Lucio R. Pench, Director Fiscal policy, Belgium, Roel Beetsma, Professor, Amsterdam School of Economics
7 May 2012 -
Recent fiscal consolidation programs in Italy: rationale, design and performance
Vittorio Grilli, Deputy Minister of Economy and Finance, Italy
7 May 2012 -
Designing fiscal consolidation programs: what works?
Carlo Cottarelli, Director Fiscal Affairs Department IMF
7 May 2012 -
Panel discussion
Chair: Roel Beetsma, Professor, University of Amsterdam, Gudmundur Arnason, Permanent Secretary, Ministry of Finance, Iceland, Chris Barrett, Former Chief of Staff, Ambassador to the OECD, Treasury, Australia, Vitor Gaspar, Minister of State and Finance,
7 May 2012 -
The role of fiscal rules in medium-term budget planning
Joachim Wehner, Senior Lecturer, London School of Economics
8 May 2012 -
A case for binding medium-term budgetary frameworks: key elements and crosscountry performance
Gösta Ljungman, Economist, Fiscal Affairs Department, IMF
8 May 2012 -
Fiscal forecasting in Europe
Roel Beetsma, Professor, University of Amsterdam
8 May 2012 -
Panel discussion
Chair: Pietro Carlo Padoan, Chief Economist OECD Robert Chote, Chairman of the office for budget responsibility, Great Britain, Daniele Franco, Managing director for economic research and international relations, Banca d´Italia, John Hassler, Professor, I
8 May 2012 -
The Swedish Medium-Term Budgetary Framework
Urban Hansson-Brusewitz, Budget Director, Sweden; Robert Boije, Deputy Director, Ministry of Finance, Sweden
8 May 2012 -
Independent macroeconomic and fiscal forecasting: the role and responsibilities of the CPB in The Netherlands
Coen N. Teulings, Director, Central Planning Bureau, the Netherlands
8 May 2012 -
Transparency Framework in Australia and New Zealand
Chris Barrett, Australia's Ambassador to the OECD; Anne-Marie Brooks, Principal Advisor, New Zealand Treasury
8 May 2012 -
Panel discussion - conference conclusions
Chair: Anders Borg, Minister of Finance, Sweden, Carlo Cottarelli, Director of the Fiscal Affairs Dept., IMF, Vittorio Grilli, Deputy Minister of Economy and Finance, Italy, Eric M. Leeper, Professor, Indiana University, Andris Vilks, Minister of Finance,
8 May 2012
IMF and Sweden host international conference on fiscal consolidation and budgetary frameworks
The Swedish Finance Ministry and the International Monetary Fund (IMF) are convening a high-level conference in Stockholm on May 7-8, 2012. The conference will bring together policy-makers, practitioners, and academics from around the world to review current fiscal programs, discuss options, and propose solutions. In particular, the conference will focus on designing and implementing medium-term plans that restore fiscal sustainability while promoting broad-based economic growth. Among the participants are Swedish Finance Minister Anders Borg, IMF First Deputy Managing Director David Lipton, Deputy Minister of Economic and Finance in Italy Vittorio Grilli and the Prime Minister of Latvia Valdis Dombrovskis.
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Anders Borg doorstep before Ecofin May 2012
Anders Borg - Minister for Finance
2 May 2012
Comment by Anders Borg before today's Ecofin meeting
On 2 May, Minister for Finance Anders Borg meets the press before the Ecofin Council meeting in Brussels.
A policy to promote jobs and welfare
The Swedish economy is expected to slow down markedly in 2012 in the wake of the European debt crisis. Given the risk of significantly weaker economic growth, the need remains for good safety margins in the public finances so as to continue to have the capacity to cushion the impact of a deeper crisis on jobs and welfare. Consequently, there will be limited scope for reforms in the budget for 2013. This scope should be used primarily for measures that prevent unemployment becoming persistent, strengthen the functioning of the economy, improve the financial position of vulnerable groups and strengthen welfare.
- Press release: A policy to promote jobs and welfare - the 2012 Spring Fiscal Policy Bill
- Read more about the Spring Fiscal Policy Bill 2012
- Summary: Economic and Budget Policy Guidelines
- Economic and Budget Policy Guidelines
- Government newsletter - For jobs and welfare - combating the crisis and creating better conditions
Anders Borg and Gunilla Carlsson present this year' World Bank report on gender equality as smart economics
On 31 January, Minister for Finance Anders Borg and Minister for International Development Cooperation Gunilla Carlsson are to present the World Development Report 2012 in Stockholm, together with the report' principle author, Dr Ana Revenga (World Bank).
Proposal on higher capital adequacy requirements to reduce vulnerability of the Swedish economy
The Government is to propose higher capital adequacy requirements for systemically important banks in an effort to strengthen the stability of the Swedish banking system and reduce the vulnerability of the Swedish economy. The proposal means that the banks are to have core Tier 1 capital equivalent to at least 10 per cent of risk-weighted assets in 2013 and 12 per cent of risk-weighted assets in 2015. Minister for Financial Markets Peter Norman will give a more detailed presentation at a press conference today.
Framework for state budget set by the Riksdag
The Riksdag set the framework for Sweden's state budget 2012 on 23 November. This first decision concerning the Budget Bill means that the Riksdag has adopted the Government's proposal for the direction of fiscal policy, estimated central government revenues and financial frameworks for the 27 expenditure areas.
The Riksdag considers the Government's budget proposal in two stages. In the first stage, the Riksdag takes a decision on the framework for the state budget and, in connection with this, an economic policy debate is held in the Riksdag. The next stage involves the Riksdag taking a decision on how expenditures are to be distributed in each individual expenditure area. This work continues until the end of December. The Budget Bill is finalised when the Riksdag has taken decisions on all 27 expenditure areas. The preliminary date for this is 20 December.
Anders Borg ranked as the best EU-finance minister 2011
Financial Times has ranked Anders Borg as the best EU-finance minister 2011. The ranking is based on political ability, economic performance and credibility in the markets. Anders Borg gets the highest rank in all of the categories. In connection Financial Times has interviewed Anders Borg on the economic situation in Europe.
Guidelines for central government debt management in 2012
The Government has decided the guidelines for central government debt management. In these guidelines, the Government puts increased focus on robustness and the refinancing risk in debt management. Borrowing in long maturities will therefore increase. In the coming years the central government debt is expected to decline from about SEK 1 100 billion to about SEK 850 billion in 2015, but there is considerable uncertainty.
Government newsletter - The debt crisis, what happens now?
Every day on TV and in the papers we can see new reports about the debt crisis. Greece has serious problems, but so do other EU countries. Sweden is standing strong in these turbulent times, but there are undoubtedly a lot of people who are concerned about developments nonetheless. In this newsletter you can read more about the Government's view on these matters.
"Financial stability requires coordinated European approach"
In a joint opinion piece published in the Financial Times on Wednesday, Minister for Foreign Affairs Carl Bildt and Minister for Finance Anders Borg write about the role of the banks, and state that a coordinated European approach is necessary to achieve financial stability.
"The European banking sector is under extreme stress. As fears grow about the sustainability of Greek public finances, banks with large exposures to Greek bonds are under increasing pressure. The situation is not beyond recourse, however. Through coordinated European and national policies, progress can and will be made."
