Deficit for Swedish central government in June

5 July 2013 - Press release

Swedish central government payments resulted in a deficit of SEK 6.4 billion in June. This is SEK 28.7 billion lower than the Debt Office’s forecast. The difference is largely due to the government selling shares in Nordea for SEK 19.5 billion. In addition, on-lending to the Riksbank decreased and tax income was higher.

In June, the government sold 260 million shares in Nordea. The sales income amounted to SEK 19.5 billion and was not included in the Debt Office's latest forecast.

The on-lending to the Riksbank declined by SEK 5 billion, while tax income was just over SEK 4 billion higher than estimated.

Interest payments on central government debt amounted to SEK 2.0 billion, which was SEK 0.1 billion higher than forecast.

For the twelve-month period up to the end of June 2013, central government payments resulted in a deficit of SEK 133.0 billion.

Central government debt amounted to SEK 1,203 billion at the end of June.

Updated forecast for 2013

The sale of shares in Nordea was announced after the publishing of the Debt Office's latest annual forecast. Therefore the forecast for the net borrowing requirement in 2013 is revised from SEK 183 billion to SEK 163 billion due the sales income.

The effect of the Nordea sale on the funding requirement was announced in a press release on June 19. The Debt Office maintains the auction volume in government bonds at SEK 3.5 billion also in 2014. Borrowing in foreign currency for the state's own part decreases by just over SEK 6 billion in 2013. Borrowing in T-bills is reduced by about SEK 5 billion during the forecast period. The central government debt is about SEK 20 billion lower for both 2013 and 2014 than in the previous forecast.

For more detailed information, see tables on the Debt Office's website.

The outcome for July will be published on 7 August 2013, at 9:30 am.

Further information can be obtained from:
Håkan Carlsson, +46 8 613 47 33

Central government borrowing requirement (SEK million)
   June
2012
June
2013
12-month
Net borrowing requirement  28 114 6 393 132 979
  Primary borrowing requirement 24 749 4 351 113 079
  Interest payments 3 365 2 043 19 900
  - Interest on loans in SEK 2 373 2 666 28 541
  - Interest on loans in foreign currency 101 93 1 125
  - Realised currency gains and losses 891 -716 -9 766

Sweden's Central Government Debt June 2013