Maha Nasser: High prices exhaust citizens and empty their bank accounts
The advent of winter is usually accompanied by joyful appearances and a festive atmosphere of Christmas, which makes the arrival of winter a happy occasion that everyone is waiting for. However, the atmosphere of Christmas this year is very different from what we witnessed in previous years, due to the current economic situation in Sweden and many European countries.
A war on Ukraine, or we can call it a war of world domination. For nearly a year, this war led to several repercussions on the European Union countries, including the energy crisis and economic inflation. Which is considered today one of the most important challenges facing the governments of the European Union. Many European countries have been suffering from an economic crisis since the beginning of the war on Ukraine. This war exhausted the European countries economically due to the reciprocal sanctions between them and Russia. The rise in prices has caused great panic among citizens in several European countries, and many European capitals have recently witnessed demonstrations denouncing the rise in prices and the high cost of living, and calling for the need to raise wages to confront inflation. As some countries have witnessed a significant decline in purchasing power for forty years. It is also expected that Europe will witness a harsh winter due to the energy crisis. People will suffer from a cold winter accompanied by a scorching rise in prices, fuel and services.
Sweden is also one of the countries suffering from economic inflation and the energy crisis, as the inflation that Sweden is witnessing has reached its peak at the present time, which is the worst in 31 years, so that citizens are no longer able to consume their wages as they used to, and the wages are no longer enough to pay bills and buy food. Also, inflation and price hikes have not only affected food commodities, but also fuel and services, including the insanely high prices of electricity, and recently also, public transportation prices have increased, and the transportation company still wants to raise prices more than that. In addition, raising the interest rate is one of the government's plans to confront inflation, but raising the interest rate, which will continue to rise, will be another obstacle for loan holders, as some will be unable to keep pace with the interest rate and repay the loan installments that they owe. What makes matters worse, is that housing companies also want to raise rents since the beginning of the year, which may constitute a great economic pressure that is difficult for many families to bear.
Because of all this, the atmosphere this Christmas is lackluster. At a time when we did not recover from the Corona crisis, which exhausted us healthily and economically, we find ourselves facing a new crisis, the economic inflation crisis and the rise in prices which exhausts citizens and empty their bank accounts. Perhaps some will not be able to celebrate and buy Christmas gifts, and perhaps this year's Christmas gifts are symbolic for some. People are burdened with monthly bills and high prices for food, electricity and fuel. Where most people suffer from poor purchasing power and difficult living conditions. Especially those with low incomes and those who spend their salaries on food and housing and pay their bills. What we are currently in is not everything. Rather, economists expect the worst in terms of a weak economy, high prices, high inflation and weak purchasing power. At a time when experts believe that an increase in salaries may lead to higher inflation, and therefore there is no expected increase in salaries. There is no solution but that the government must bear the responsibility to ease the economic burden on its citizens, and put a financial plan that will be able to save the economy from recession. In addition, the politicians fulfilled the promises they made to themselves before the elections, such as helping the citizens to bear part of the electricity bills and so on.
For more than ten years, the world has been living in wars, turmoil and crises. These wars, death and destruction inflicted on many peoples and countries, and the crises we are experiencing now, are the work of greedy leaders who want to achieve their interests at any price, and we are the ones who always pay the price for their aspirations and ambitions.