Deficit for Swedish central government in January

7 February 2012 - Press release

Swedish central government payments resulted in a deficit of SEK 14.6 billion in January. The deficit was thus SEK 12.2 billion larger than the Debt Office's forecast. The largest differences concern tax reimbursements, the membership fee to the EU and interest payments on central government debt.

The net of tax payments was SEK 2.5 billion lower than expected, which is explained by larger reimbursements. The membership fee to the EU was SEK 1.4 billion larger than forecast, which is probably only a shift in payments between months.

Interest payments on central government debt were SEK 2.2 billion higher than calculated, due to exchange rate losses.

The remaining deviations from the forecast are explained by larger disbursements from several government agencies.

For the twelve-month period up to the end of January 2012, central government payments resulted in a surplus of SEK 23 billion.

Changes in the accounting of central government debt as of January

Central government debt amounted to SEK 1,135 billion at the end of January. As of January, the Debt Office has implemented certain changes in the reporting of government debt. The purpose is to achieve greater consistency and transparency in the accounts. At the present time, the changes mean that the reported debt becomes somewhat larger, but this effect will fade over time.

Central government debt at the end of December 2011 was SEK 1,158 billion based on the new accounting. That is SEK 49.9 billion larger than according to the earlier calculation.

For more information about the changes:

An in-depth analysis of the outcome for January will be published on 21 February at outcome for February will be published on 7 March, at 9:30 am.

Further information can be obtained from:
Håkan Carlsson, central government payments, +46 8 613 47 33
Thomas Olofsson, central government debt, +46 8 613 47 82

Table of the net borrowing requirement

Sweden's central government debt January 2012