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picture News August, 18 2022
image: The Joint Autumn 2020 Kick-Off The Joint Autumn 2020 Kick-Off

Welcomed by Ambassador Mikael Eriksson, SCCE gathered in the Residence at the Embassy of Sweden for this Autumn’s Joint Kick-Off, Thursday afternoon, 8 October.

We started up with a brief on the Embassy’s and SCCE’s plans for the autumn and the coming winter, presented by the Ambassador and SCCE’s Chairman Karolina Ullman. We also got the opportunity to meet and greet Henrik Grudemo, who joined the Embassy as Minister-Counsellor and Deputy Head of Mission earlier this autumn. Representing the Embassy, Henrik has also joined SCCE’s Council.


Headlined “Mankind will survive. But will the economy?“, Mihkel Nestor, Chief Economist at SEB Estonia, took the floor and presented the bank’s latest figures on the economy with a focus on Sweden and Estonia as well as the Nordics and Europe.

- We do indeed have a recession going on in our countries and neighborhood as a result of the Covid-19 crisis. But, it isn’t as deep as we originally feared, said Mihkel Nestor.

- Comparing the GDP change in the second quarter 2020 with the same period 2019, the Swedish and Estonian GDP contracted with -7,3% and -6,9% respectively. The corresponding figures for Latvia, Finland and Lithuania are -8,9%, -6,4% and -4,2% respectively. This can be compared with the European recession leaders, Spain, France and Italy, where the GDP contracted with -22,1%, -19,2% and -18% respectively, continued Mihkel Nestor.

The coming winter issue of focus, the magazine of the Swedish Chamber of Commerce in Estonia, will include a report on Mihkel Nestor’s presentation as well as a report on SEB’s latest Nordic Outlook.


On behalf of the SCCE, I would like to thank Ambassador Mikael Eriksson for a very nice set up of our joint Kick-Off. My thanks also go to Mihkel Nestor for an extremely interesting presentation on the current economic climate.


Kristiina Brodén - SCCE Ombudsman

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