出版社：European Commission Directorate-General for Economic and Financial Affairs
摘要：Public finances in Sweden remain strong by EU standards. The national rules-based framework that guides Swedish fiscal policy has contributed to this solid performance. These rules, which complement the EU rules, provide for an ambitious surplus objective for the general government (2% of GDP on average over the cycle), multi-annual nominal expenditure ceilings for central government and a balanced budget requirement for local government. The framework has been successful in promoting prudent fiscal policy, helping Sweden to comfortably comply with EU Stability and Growth Pact (SGP) requirements. Nevertheless, despite the overall positive performance there has lately been increasing pressure in different parts of the framework. The nominal expenditure ceilings have been the most successful rule as they are transparent and operational, carry the greatest political weight and have always been respected despite narrowing margins. The local government budget balance requirement has helped to restrict borrowing but has not fully contained pro-cyclical expansions, which has led to pressure for increased taxes and transfers from central government. While there continue to be overall budget surpluses, lately they have been well below 2% of GDP. On certain aspects, such as how to contain pro-cyclical policies in good times and handle budgetary pressures in bad times, the Swedish rules share similar features with the experience of the SGP rules at EU level and while Sweden’s record of compliance with its own rules is clearly better than that of the SGP, there may be some room to enhance positive incentives and improve it even further.
