Context of Sweden's Peer Review

Sweden, with a population of 9.51 million in 2012, stands out among OECD and EU member countries for having high per capita income, low inequality and poverty rates, good health status and environmental quality, a sound balance between work and life and high trust in institutions. Moreover, Sweden has exhibited economic resilience in the face of international turbulence since 2008 (OECD, 2012). After a drop in gross domestic product (GDP) in 2009, growth was 5.1% on average in 2010 and 2011. The latest OECD Economic Survey concludes that Sweden has been able to weather the global economic crisis thanks to the sound macroeconomic policies and substantial structural reforms carried out since the early 1990s. The economic survey sees a positive medium-term outlook for the Swedish economy and forecasts steady growth for 2013 and 2014 (OECD, 2012).