Deficit for Swedish central government in December

12 January 2015 - Press release

Swedish central government payments resulted in a deficit of SEK 100.7 billion in December. The Debt Office’s forecast was a deficit of SEK 88.5 billion. The difference is mainly due to larger disbursements from a number of agencies and lower tax income.

The central government’s primary borrowing requirement, excluding net lending, was SEK 13.7 billion higher than forecast. Tax income was SEK 4.8 billion lower than calculated. In addition, disbursements from government agencies were SEK 5.7 billion higher than forecast, while the Swedish contribution to the EU was SEK 3.2 billion higher.

The Debt Office's net lending to government agencies was SEK 1.3 billion lower than forecast. This is mainly explained by larger deposits from the Swedish Export Credits Guarantee Board and the Nuclear Waste Fund.

Interest payments on central government debt amounted to SEK 8.0 billion, which was SEK 0.1 billion lower than calculated.

Budget deficit for the full year 2014

For the full year 2014 the deficit was SEK 72.2 billion[1], which can be compared with SEK 131 billion in 2013. The decrease between the years is mainly due to on-lending to the Riksbank, Iceland and Ireland increasing by more than SEK100 billion in 2013, while being almost unchanged in 2014.  

Central government debt amounted to SEK 1,394 billion at the end of 2014. This can be compared to SEK 1,277 billion one year earlier.

General and detailed information on central government borrowing and debt is reported on the Debt Office's website: https://www.riksgalden.se/en/For-investors/Borrowing-and-the-government-debt/

The outcome for January will be published on 6 February 2015, at 9:30 am.

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

Central government net borrowing requirement (SEK million)

 

Outcome
Dec

Forecast
Dec

Deviation
Dec

Acc.
dev.1)

Outcome
12-month

Net borrowing requirement

100 724

88 480

12 244

12 244

72 202

Primary borrowing requirement excl. net lending

62 266

48 539

13 726

13 726

46 755

Net lending to agencies etc.

30 421

31 759

-1 338

-1 338

22 249

Interest payments on central government debt

8 037

8 182

-145

-145

3 198

  - Interest on loans in SEK

7 564

8 182

-618

-618

6 609

  - Interest on loans in foreign currency

26

-16

42

42

1 608

  - Realised currency gains and losses

447

15

432

432

-5 019

1) Sum of monthly forecast deviations since the latest forecast, December 2014.

 Sweden's Central Government Debt December 2014, pdf


[1] The outcome is preliminary and may be revised in connection with the Debt Office’s annual accounts. Please refer to the Debt Office’s annual report 2014 for the final annual outcome.