Europe

Europe

Swedish PM calls for preparation for economic crisis

16 September 2011 02:05 (UTC +04:00)

Baku-APA. Swedish Prime Minister Frederik Reinfeldt Thursday called on the Swedish people to prepare for the difficult economic situation while addressing the parliament about the state of the country, APA reports quoting Xinhua.

"We do not know how prolonged or deep the crisis will be. What we do know is that the global trend is very serious. We know that growth is subdued, unemployment will rise and scope for reform will be affected," Reinfeldt said.

"We must be prepared in the event that the uncertainties around the world are prolonged, or increase in severity," he continued.

He added that the government will try all means to create job opportunities for all people including disabilities.

"In Sweden there will be no cutbacks or other austerity measures. Instead, we will take the steps we can to safeguard jobs, welfare and security," he said.

The Nordic country was ranked as the second most competitive country in the world in 2010 by the World Economic Forum.