Swedish central government payments resulted in a surplus of SEK 30.1 billion in August. The Debt Office's forecast was a surplus of SEK 25.7 billion. Higher tax income than expected was the primary reason for the deviation from the forecast.
The primary balance was SEK 3.4 billion higher than calculated. The main explanation is that tax income was SEK 5 billion higher than forecast, mainly due to higher supplementary tax payments than expected. At the same time payments from The Swedish National Agency for Education and The Legal, Financial and Administrative Services Agency were higher than forecasted.
The Debt Office's net lending to government agencies etc. was SEK 1.8 billion lower than calculated. Higher deposits from the Swedish Pensions Agency is the primary explanation for the deviation from the forecast.
Interest payments on central government debt were SEK 0.8 billion higher than calculated.
For the twelve-month period up to the end of August 2019, central government payments resulted in a surplus of SEK 103.9 billion. An amount corresponding to SEK 42.7 billion is included in the surplus and is due to the repayment of loans by the Riksbank in foreign currency to the Debt Office.
Central government debt amounted to SEK 1 073 billion at the end of August.
The outcome for September 2019 will be published on 7 October at 9.30 a.m.
Contact
Elin Stenbacka, Macroeconomist, +46 (0)8 613 45 99
Press Secretary, +46 (0)8 613 47 01
| Central government net borrowing requirement1 (SEK million) | |||||
| Outcome August | Forecast August | Deviation August | Acc. Dev2 | Outcome 12-month | |
| Net borrowing requirement | -30 072 | -25 691 | -4 381 | 1 311 | -103 924 |
| Primary balance3 | -24 565 | -21 173 | -3 392 | 982 | -79 144 |
| Net lending to agencies etc.4 | -5 625 | -3 825 | -1 800 | -785 | -45 920 |
| Interest payments on central government debt | 119 | -693 | 812 | 1 114 | 21 140 |
| - Interest on loans in SEK | -424 | -703 | 279 | 1 214 | 16 525 |
| - Interest on loans in foreign currency | -106 | -32 | -74 | -88 | -517 |
| - Realised currency gains and losses | 649 | 42 | 607 | -13 | 5 131 |
| 1 The net borrowing requirement corresponds to the budget balance with opposite sign. | |||||
| 2 Sum of monthly forecast deviations since last forecast (June 2019). | |||||
| 3 Net of the state's primary expenditure and income. | |||||
| 4 The net of government agencies etc. deposits and loans in the state's internal bank. The net lending includes | |||||
| both current government operations and temporary occurrences which can be decided on short notice. The net | |||||
| lending affects the net borrowing requirement and central government debt, but are not covered by the | |||||
| Central government expenditure ceiling. | |||||
More data on the borrowing requirement and government debt:
https://www.riksgalden.se/en/For-investors/Borrowing-and-the-government-debt/
The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.
Attachment
- Sweden's central government debt August 2019 (https://ml-eu.globenewswire.com/Resource/Download/74429b91-26f4-41d0-84ef-f0dcb4ef6b49)
