Riksbank commentary challenges EC debt measure
The Riksbank's latest economic commentary, published today (June 18), says a recent survey of imbalances within the EU uses a measure of private debt to GDP that overestimates the debt burden in Sweden.
Authors Gunnar Blomberg, Jyry Hokkanen and Sofia Kåhre, explain that the European Commission's (EC) measure does not exclude loans given by companies to their subsidiaries, which means these loans are counted twice. When the measure is adjusted, the debt level falls by 16 percentage points to 221
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