Surplus for Swedish central government in November

7 December 2015 - Press release

Swedish central government payments resulted in a surplus of SEK 21.8 billion in November. The Debt Office’s forecast was a surplus of SEK 14.6 billion. The difference is mainly explained by higher tax income.

Tax income was approximately SEK 5 billion higher than forecast. At the same time disbursements from a few state agencies were somewhat lower than estimated.

Central government tax income has been higher than forecast for two consecutive months. This indicates that tax income for the full year could be higher than the Debt Office's forecast. However, this will be offset by the fact that expenditure is also expected to be higher, primarily due to additional government grants to municipalities as a result of the refugee crisis.

The Debt Office's net lending to government agencies was SEK 1.6 billion higher than forecast. The deviation is mainly due to lower deposits than calculated.

Interest payments on central government debt were SEK 0.4 billion lower than forecast.

For the twelve-month period up to the end of November 2015, central government payments resulted in a deficit of SEK 34.9 billion.

Central government debt amounted to SEK 1,323 billion at the end of November 2015.

The outcome for December will be published on 12 January 2016, at 9:30 a.m.

Contact
Håkan Carlsson, analyst, +46 (0)8 613 47 33
Linda Rudberg, press officer, +46 (0)8 613 45 38

Central government net borrowing requirement1 (SEK million)
  Outcome November Forecast November Deviation November Acc.    Dev.2 Outcome 12-month
Net borrowing requirement  -21 772 -14 589 -7 182 -12 274 34 914
Primary borrowing requirement excl. net lending3 -20 802 -12 442 -8 359 -10 740 3 211
Net lending to agencies etc. -386 -1 994 1 608 -509 15 888
Interest payments on central government debt -584 -153 -431 -1 025 15 815
  - Interest on loans in SEK -824 -95 -729 -1 648 5 146
  - Interest on loans in foreign currency -25 15 -40 -51 -634
  - Realised currency gains and losses 266 -73 339 674 11 303
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since the latest forecast (October 2015).
3 Net of the state's primary expenditure and income excluding net lending to agencies.

Sweden's central government debt November 2015, pdf

Data on the net borrowing requirement, funding and debt