STOCKHOLM: Sweden will spend 10 billion crowns ($1.19 billion) a year on budget measures to increase employment, the centre-left government said on Wednesday.
In a signed article in daily Dagens Nyheter, Finance Minister Magdalena Andersson and her deputy Per Bolund wrote that the money would be spent on investments in housing and infrastructure, improving the business climate, and on adult education.
Andersson has said all reforms must be fully financed by tax hikes or cost saving measures. New spending on schools and climate initiatives will be presented in the next few weeks, Andersson and Bolund wrote.
The 2016 budget is due to be presented Sept. 21.
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