The Swedish government will allocate more funds to the economy, focusing on the construction sector.

The Swedish government announced on Friday that it will increase spending by 5.8 billion kronor ($573 million) this year, primarily aimed at supporting the construction sector. Finance Minister Elisabeth Svantesson described international conditions as "brutally uncertain" earlier this week. The government's increased spending is designed to provide temporary support to the construction industry amid the current economic landscape, and it’s expected to benefit the overall economy as well.

However, the government acknowledged that economic recovery has been delayed, partly due to significant uncertainties in the global economy. The right-wing government plans to present the spring budget proposal, which includes these changes, to parliament on April 15. Of the total increased spending, 4.4 billion kronor will be allocated for a temporary increase in tax reductions for the renovation and maintenance of private buildings.