Deficit for Swedish central government in April

8 May 2013 - Press release

Swedish central government net borrowing requirement was SEK 0.8 billion in April. This was SEK 18.6 billion higher than the Debt Office’s forecast. The difference is largely due to higher on-lending to the Riksbank, lower tax income and lower dividends on shares owned by the central government.

The Debt Office's net lending was SEK 13 billion higher than calculated. Most of the deviation, approximately SEK 12.2 billion, is explained by higher on-lending to the Riksbank. The Swedish National Debt Office has a mandate to borrow, on behalf of the Riksbank, foreign currencies with a maximum value equivalent to SEK 200 billion.The Riksbank has now chosen to use the main part of the facility. In terms of current exchange rates on-lending to the Riksbank amounted to SEK 199.4 billion at the end of April.

Tax income was SEK 3.3 billion lower than estimated. Moreover dividends on state owned shares were SEK 1.2 billion lower than the Debt Office´s forecast. At the same time transfers of profits from the Riksbank to central government were SEK 0.7 billion lower than forecast.

Interest payments on central government debt were SEK 0.7 billion lower than expected.

For the twelve-month period up to the end of April 2013, central government payments resulted in a deficit of SEK 152.1 billion.

Central government debt amounted to SEK 1,212 billion at the end of April.

The outcome for April will be published on 10 June 2013, at 9:30 am.

Further information can be obtained from:
Johan Sandberg, +46 8 613 47 37

Central government borrowing requirement (SEK million)
   April
2012
April
2013
12-month
Net borrowing requirement  -24 286 769 152 144
  Primary borrowing requirement -24 634 2 240 128 758
  Interest payments 348 -1 471 23 386
  - Interest on loans in SEK -15 -574 27 569
  - Interest on loans in foreign currency 388 -8 1 480
  - Realised currency gains and losses -26 -888 -5 663

Sweden's Central Government Debt April 2013