By 1994, Sweden had a budget deficit of 10 percent of GDP, highest among OECD countries. Its public debt had doubled in … three years. Such high debt levels were threatening Sweden's economic stability and making it increasingly vulnerable to … consolidation program aimed at reducing the deficit significantly by 1997 and balancing the budget by 1998.> Sweden's finance …

exceeding 4 percent of GDP. Compared to Europe, the future challenges of population aging and fiscal problems in the United …