Central government payments gave a surplus in February

7 March 2011 - Press release

Swedish central government payments resulted in a surplus of SEK 67.7 billion in February. This is SEK 14.2 billion higher than the Debt Office's forecast. The difference is mainly due to revenue from the sale of shares in Nordea.

In the beginning of February the Swedish government sold shares corresponding to 6.3 percent of outstanding shares in Nordea, which resulted in revenue of SEK 18.9 billion. After the divestment the central government owns 13.5 percent of the shares.

Tax revenue was SEK 2.3 billion lower than calculated. The large surpluses in February each year is due to many tax payers making supplementary tax payments for the previous income year.

The Debt Office's net lending was SEK 2.2 billion higher than calculated. This is mainly explained by repo transactions* by government agencies.

Interest payments on central government debt were SEK 1.4 billion lower than forecasted.

For the twelve-month period up to the end of February 2011, central government payments resulted in a surplus of SEK 33 billion. Central government debt amounted to SEK 1,061 billion at the end of February.

The outcome for March will be published at 9:30 am on 7 April 2011.

Further information can be obtained from:
Sofia Olsson, phone +46 8 613 47 30



* Repo transactions by government agencies mean that they sell government securities with a repurchase agreement. The payment of the repos can be deposited in an account at the Debt Office. If the total volume of outstanding repos change during the month compared to the previous turn of the month it will affect the outcome of the borrowing requirement. They can also buy bonds with a resell agreement. If they use the payment when they sell a bond with a repurchase agreement to buy a bond with a resell agreement the borrowing requirement will not be affected. We make forecasts of the repo transactions on the basis of the information we receive from the government agencies. However, the forecast are very uncertain since the government agencies may alter their plans on a short notice.