Deficit for Swedish central government in January

6 February 2015 - Press release

Swedish central government payments resulted in a deficit of SEK 12.4 billion in January. The Debt Office’s forecast was a surplus of SEK 2.7 billion. The difference of SEK 15.1 billion is explained by lower tax income, higher net lending to government agencies and higher interest payments on central government debt.

The central government's primary borrowing requirement, excluding net lending, was SEK 6.1 billion higher than forecast. Tax income was SEK 8 billion lower than calculated, which is mainly due to lower payments of supplementary taxes. The Debt Office considers that this is largely a redistribution of payments between months.

The Debt Office's net lending to government agencies was SEK 7.1 billion higher than forecast. The deviation is explained by the Swedish Pensions Agency withdrawing SEK 6 billion from its account at the Debt Office to buy interest-bearing securities. This effect is considered to be temporary.

Interest payments on central government debt were SEK 1.9 billion higher than calculated, which is due to higher exchange rate losses.

For the twelve-month period up to the end of January 2015, central government payments resulted in a deficit of SEK 58.3 billion.

Central government debt amounted to SEK 1,396 billion at the end of January 2015.

New forecasts for 2015 and 2016 will be published in "Central Government Borrowing – forecast and analysis 2015:1" on 19 February, at 9.30 am.

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

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

Central government net borrowing requirement (SEK million)
  Outcome
Jan
Forecast Jan Deviation Jan Acc.
dev. 1)
Outcome
12-mth
Net borrowing requirement 12 440 -2 709 15 149 27 393 58 320
Primary borrowing requirement excl. net lending 6 289 145 6 144 19 870 43 573
Net lending to agencies etc. 7 671 531 7 140 5 803 10 419
Interest payments on central government debt -1 520 -3 385 1 865 1 720 4 328
  - Interest on loans in SEK -2 865 -3 072 207 -411 5 893
  - Interest on loans in foreign currency 32 47 -16 26 1 604
  - Realised currency gains and losses 1 314 -360 1 674 2 105 -3 170
1) Sum of monthly forecast deviations since the latest forecast (December 2014)

Sweden's Central Government Debt January 2015

General and detailed information on central government borrowing and debt