Stockholm prepares major crisis package as energy prices surge

Sweden is preparing an emergency package worth 17.5 billion Swedish kronor (approximately $1.8 billion) aimed at mitigating the impact of a global energy crisis that has been exacerbated by the war in the Middle East.

According to the Minister for Finance Elisabeth Svantesson, the additional expenditure has no dedicated funding source and will instead be financed through borrowing, SVT reports.

Svantesson said the measures are designed to support households and sectors most affected by rising energy prices. 

The government’s proposed package is expected to be presented to parliament in the near future and will include targeted support for agriculture and aviation.

Prime Minister Ulf Kristersson said the measures are intended to soften the economic impact of the crisis, which is already having a negative effect on Sweden’s economic development.

By Vafa Guliyeva