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picture News August, 18 2022
image: “A dark tunnel with faint glimmers of light“ “A dark tunnel with faint glimmers of light“


“The question is: How long is this dark tunnel, and how strong are the lights? What awaits us when the tunnel ends?“ writes SEB in the introduction to their May 2020 Nordic Outlook which analyses the global and Nordic consequences of the COVID-19 crisis.

“Despite being able to avoid a full scale lockdown, Estonia is highly dependent on exports and tourism, and GDP will plummet by 9.8 per cent in 2020. However, under current assumptions, the economy should rebound by 6.5 per cent in 2021. Unlike many countries, this represents a better outcome than during the global financial crisis of 2008-2009.“

“Because of Sweden’s gentler lockdown strategy, the decline in its economy will be smaller than in other countries, but the drop in GDP nearly 7 per cent in 2020 will be the largest in modern times.“


The May 2020 edition of SEB’s Nordic Outlook is available in .pdf-format on this link: .


Kristiina Brodén – SCCE Ombudsman

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