The main features of economic development part 3

In 1977 (the first time in 25 years) declined runway. Weak growth in the 1978-1980 biennium. replaced by another fall in 1981 Since the mid 70-ies of the growth rate of productivity of labor productivity has slowed, and in 1975-1984 he was. only 1.4% a year. Number of hours worked since the mid 60-ies decreased mainly due to legislative reforms of working hours, on the retirement age and leave. These reforms will take into account population growth and the proportion of employed women.

In order to restore the competitiveness of the government implemented a series of devaluations starting in August 1977 when the krona was devalued by 10%. At the same time, Sweden withdrew from the European monetary system, known as the "currency snake". However, the demand for new products and technological advances have led to an increase in the proportion of high-tech industries. Machinery for the latest period, strengthened its position. Rapidly and the pharmaceutical industry.

Since 1983, the situation has changed, and the Swedish economy, you start from the crisis-Bireh. As a result of two devaluations crown increased price competitiveness, which has led to increased exports. In 1883, WFP has increased by 2,4%, industrial production - by 5.1%, labor productivity - at 7.4%. In 1984 go-between growth WFP amounted to 4% - the highest rate since 1973, the main growth factor has again been exported. In the next two years the growth rate declined slightly from the slowdown in exports. Increasing incomes lead to increased cheniyu personal consumption, which has become an important catalyst for a prolonged economic recovery. In absolute terms the Air Force in the current prices of-lyal 1970 -172 billion crowns in 1980 - 525 billion in 1985 - 861 in 1989 - 1221 billion kroons.

In general, 80 years Sweden has had growth of runway just above the national average over Western Europe. The favorable global economic environment positively affected the Swedish industry. Production facilities were used by 90%, and in many industries, this figure was even higher. This required a significant amount of new investment. During the 1983-1989 biennium. volume of industrial investment has grown by more than 60%. The shortage of skilled labor and the great amount of absenteeism at work - the main reasons that hindered the expansion of industrial production. Despite this, the volume of production increased rapidly. Receipts and orders, profitability since 1982 find themselves at a high enough level. The high investment rate observed in the service sector, which is less dependent on market conditions. It is expressed primarily in the rationalization of production and saturation of electronic computer technology.

The leading trend of economic development in Sweden 80 years has been re-move from the traditional dependence on iron ore and steel to the good technology in the manufacture of transportation, electrical, communications, chemical and pharmaceutical products.