Sweden's economy likely won't benefit from its decision to avoid a lockdown, according to analysts

published 17.05.2020 21:06

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Sweden is unlikely to avoid the economic fallout from the coronavirus pandemic, even as it has avoided an official lockdown, analysts told the Financial Times.

One business owner told the Financial Times that when people started becoming aware of the virus, he quickly lost 30% of his business.

Even though Sweden has chosen to avoid an official lockdown, keeping bars and restaurants open — and suffering a higher death toll than in neighboring countries — the country is unlikely to avoid the economic fallout from the coronavirus pandemic, analysts told the Financial Times.

"It is too early to say that we would do better than others," Christina Nyman, a former official at Riksbank, Sweden's national bank, told the Financial Times.

The owner of a record shop in Stockholm told the Financial Times that while his store remained open, business dropped quickly by 30%.