Swedish economy reaches five-year high aided by immigration

Sweden saw its economy grow the highest in the last five years, according to new figures. The policies of the Swedish government, which saw the Scandinavian country welcome more refugees per capita than any other European country in 2015, aided in reducing unemployment rates as spending increased on welfare for people seeking asylum from countries affected by wars such as Afghanistan, Iraq and Syria. This step allowed Sweden to expand on a yearly basis by 4.5 percent in the fourth quarter of last year, the highest in the last five years and twice more than Germany’s growth, the Independent quoted Bloomberg as saying. Jonathan Portes, director of National Institute of Economic and Social Research, said that economies were profiting as a result of more workers. Portes was quoted as telling the Independent that the Swedish experience conveys that even if there was a large inflow of refugees in the short term, there was a misplaced perception that it burdens the state. Stating that it was untrue, he said that it boosted growth in the short term. Portes was of the view that the government of the Nordic country must have a long-term approach to allow refugees to intermingle with the population to persist with the growth. Speaking about the UK, he stated that the British economy profits because of migrants. If you are planning to migrate to Sweden, approach Y-Axis to avail guidance and assistance to file for a visa from one our 19 offices spread over eight of India’s largest cities.