As the title above suggests, 2024 was not the best year for the Swedish economy in modern times. However, after a gradual economic downturn across Europe and much of the Western world following Russia’s invasion of Ukraine in February 2022, 2024 may have marked the bottom of the economic cycle. The inflation rate, which had remained high for several years, began to fall, as did both short- and long-term market interest rates, which had burdened businesses and households, leading to reduced consumption and investment willingness.

Repeated interest rate cuts by Sweden’s Riksbank, the European Central Bank (ECB), and the U.S. Federal Reserve brought renewed hope for a turnaround in Sweden, Europe, and the broader Western world. However, the greatest obstacle to a significant shift for the better remains the ongoing war in Ukraine and the deteriorating security situation in Europe. These factors continue to consume vast resources and act as a barrier to progress toward a more optimistic future.

Read more in the 2024 Annual Report and Consolidated Financial Statements! (In Swedish)