Deficit for Swedish central government in January

7 February 2014 - Press release

Swedish central government payments resulted in a deficit of SEK 26.3 billion in January, which was a SEK 20.2 billion larger deficit than the Debt Office’s forecast from October. The difference is mainly explained by redistributions of payments between months.

The Debt Office's net lending to government agencies was SEK 10.0 billion higher than forecast. This is mainly explained by higher on-lending to the Riksbank of SEK 6.4 billion. Loans that will mature in February were refinanced already in January. When these loans mature in February the on-lending to the Riksbank will decrease by the corresponding amount. In addition, the Nuclear Waste Fund reduced its deposits in the Debt Office by SEK 3.4 billion. This withdrawal is also temporary.

Tax income was SEK 8.2 billion lower than estimated. This is mainly due to lower supplementary tax payments. The Debt Office assesses that it is largely a redistribution of payments between months.

Interest payments on central government debt were SEK 1.2 billion lower than calculated, which mainly was due to higher exchange rate gains.

For the twelve-month period up to the end of January 2014, central government payments resulted in a deficit of SEK 61 billion.

Central government debt amounted to SEK 1,293 billion at the end of January.

The outcome for February will be published on 7 March 2014, at 9:30 am.

New forecasts for 2014 and 2015 will be published in "Central Government Borrowing 2014:1" on 19 February, at 9.30 am

Further information can be obtained from:
Tord Arvidsson, +46 8 613 47 53

Sweden's Central Government Debt January 2014

 

Central Government Net Borrowing Requirement (SEK million)

January
2013

January
2014

12-month

Net borrowing requirement

96 331

26 323

61 486

  Primary borrowing requirement

99 012

28 973

45 023

  Interest payments

-2 681

-2 650

16 463

  - Interest on loans in SEK

-975

-2 150

24 542

  - Interest on loans in foreign currency

5

36

1 090

  - Realised currency gains and losses

-1 711

-535

-9 170