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Smell of chocolate, tea and coffee at Kahls The & Kaffehandel Cafe in Kista Gallaeria near Stockholm. Behind the counter is the owner Kamal Hosseni.
– We were surprised in mid-March when people just disappeared. Our turnover decreased by 70 percent.
Because people have stayed home even though Sweden has had much softer infection control measures than Norway, he tells NRK
– At first we thought it was a bit random for a couple of months or so, but it continued. Many people panicked, including us here, because we did not know what help we would receive or how much.
– Not just orders that matter
Sweden’s economy fell 3.2% during the first 9 months of 2020, figures from Danske Bank show. This is 0.1% more than the drop in GDP in Norway.
– This shows that not only the orders matter. How people perceive danger in society is almost as important.
LATER FALL: The economy in Norway took a hit more quickly, since we introduced measures earlier, says Danske Bank chief economist Frank Jullum. But when the infection increased in Sweden, its economy fell as deeply as Norway’s, he adds.
Photograph: PEDER BERGHOLT / NRK
That’s what Frank Jullum, Danske Bank’s chief economist, says. They have carried out an analysis comparing the economic development of Norway and Sweden.
– Infection control measures are important, we saw it in the nightlife industry in Oslo when the catering closed. But during periods of high infection, people stay home no matter what.
Points to infection control tips
The economy has not been decisive for an intermediate infection control strategy than in most other countries, Swedish Finance Minister Magdalena Andersson tells NRK.
– We, in the Swedish government, have never sat down to negotiate between the economy and the life and health of people.
EXPERTS: Sweden’s Finance Minister Magdalena Andersson tells NRK that her strategy is based on advice from healthcare professionals, not finance.
Photo: Jessica Gow / tt / NTB
– The Swedish strategy has been based on our experts and expert authorities in what is a sustainable long-term strategy to reduce the spread of the infection, it continues.
Like Norway, Sweden has seen a strong economic recovery in recent months.
– At the moment growth is more moderate due to increased infection, but now we will soon get a vaccine. The faster we can vaccinate and the more we can vaccinate, the more we can protect not only human health, but also a faster economic recovery.
Billions in crisis packages
Sweden has taken firm steps to support the healthcare system and businesses during the crisis, Andersson says.
– We have produced crisis packages of more than NOK 200 billion this year.
That Norway has the Oil Fund to eat has not had much to say, is the analysis of Frank Jullum at Danske Bank.
– If we look at the support measures, that is, public spending to maintain activity, it has been more or less the same.
– Save for bankruptcy
Back in Kista, it looked brighter when fall came, but a strong new wave of infections began in November, he says.
– When there were new restrictions, turnover was reduced by 40 percent.
Hosseni is particularly satisfied with the help they have received from the authorities.
– There has been very little support, especially for small businesses. We are on our knees.
He understands that there will be new restrictions, but he wonders how they will manage without more financial support.
– Everyone has been afraid of bankruptcy. My brother had five hotels, but now he only has one left. Everybody went bankrupt and there have been very nice places.
