Swedish govt boosts pandemic-hit economy by $12 bln in 2021 budget

Sweden's gross domestic product will shrink around 4.6% this year, the government said on Monday, outlining a budget bill that will pump around 105 billion crowns ($12.0 billion) into the economy to kick-start growth following the pandemic.

"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.

Measures in the budget, including tax cuts for individuals and companies and more money for the welfare sector, were broadly known. ($1 = 8.7514 Swedish crowns)