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The wealth Sweden don’t know what to do with – help sought in spending Skr5 billion

Friday, 11 October 2013
The Stockholm County Council has Skr5 billion at its disposal but is finding it hard to spend it. Now the County council’s finance Commissioner, Torbjörn Rosdahl is appealing to the local governments and the country to come up with ideas and helpful solutions on how to spend the money.

Stockholm is growing at a tremendous rate and according to the 2013 budget, the County Council is to invest Skr16 billion in health care and traffic solutions. But now it turns out that it is not able to invest more than 11 of the billions, reports Swedish daily, Dagens Nyheter.

"It's a big concern, "said County Commissioner of Finance, Torbjörn Rosdahl to the Dagens Nyheter.

The money is borrowed at an interest rate of about 3 percent, and to not use is turning out to be a massive waste and a bad deal for the county. Torbjörn Rosdahl has written to all council chairman in the county to ask for help to do away with the money.

The council official blamed the County Council’s lack of time to bring out the programs, plans and material required as one reason. Another is that the municipalities did not have time to get their plans ready and tested.

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