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Lessons from the Swedish anti-corona strategy

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Thursday 1/10/2020

Contrary to most other (European) countries, Sweden mainly relied on voluntary measures  rather than binding restrictions in its fight against the coronavirus. This 'soft' anti-corona strategy was applauded by some, but there is not yet overwhelming evidence that it has drastically reduced economic costs. There are indications that the milder lockdown has spared the domestic economy a little. Sweden’s situation reminds us that in small, open economies, such as Belgium's, budgetary stimulus is not very effective in stimulating economic recovery, and the focus on competitiveness is all the more important.