The Swedish Government’s Initiative to Protect Access to Cash for Essential Goods and Services

2024-01-12 18:11:00

The Swedish government wants to make it easier to use cash to buy basic necessities such as food or fuel, it said on Friday, in a country where cash is scarce.

Only 8% of Swedes paid in cash for recent purchases in 2022, compared to almost 40% in 2010 (illustrative photo).

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“We need to quickly re-examine the possibility of paying for certain goods in cash, especially because there are categories of people who, for various reasons, have difficulty using digital payment methods,” Niklas Wykman said at a press conference. , Minister of Financial Markets.

It is also important to look into the issue for the purposes of preparing for times of crisis, he stressed.

Only 8% of Swedes paid cash for recent purchases in 2022, compared to almost 40% in 2010, according to a survey by the Swedish central bank, the Riksbank.

But since the start of the Russian invasion of Ukraine in February 2022, the few distributors still in operation have been stormed: withdrawals have increased by 30% in the country, according to the government.

This trend has also been observed in other European countries such as the Czech Republic and Slovakia, according to the European Association of Transport and Couriering (Esta).

It must therefore be possible to pay for certain products, such as medicines, food and fuel, using cash, believes the government which has launched a parliamentary commission of inquiry on this subject.

The commission of inquiry must deliver its opinion on December 31, 2024.

ATS

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