Surplus for Swedish central government in May

8 June 2016 - Press release

Swedish central government payments resulted in a surplus of SEK 36.0 billion in May. This is SEK 2.3 billion higher than the Debt Office’s forecast. Higher than expected tax income outweighed higher interest payments on central government debt and larger net lending to government agencies.

Tax income was about SEK 5 billion higher than forecast. The deviation is due to larger supplementary tax payments.

The Debt Office's net lending to government agencies was SEK 2.0 billion higher than forecast, mainly due to lower deposits from the Export Credits Guarantee Board.

Interest payments on central government debt were SEK 1.7 billion higher than forecast. This is explained by higher interest payments in foreign currencies and shifts of interest payments between months in SEK.

For the twelve-month period up to the end of May 2016, central government payments resulted in a surplus of SEK 38.6 billion.

Central government debt amounted to SEK 1,317 billion at the end of May.

The outcome for June will be published on 7 July at 9.30 a.m. On 15 June the Debt Office will publish a new forecast for the central government net borrowing requirement and borrowing.

Contact

Tord Arvidsson, Senior Analyst, +46 (0)8 613 47 53
Linda Rudberg, Press Officer, +46 (0)8 613 45 38

Net borrowing requirement¹ (SEK million)
  Outcome May Forecast May Deviation
May
Acc. 
Dev.2
Outcome 12-month
Net borrowing requirement  -35 985 -33 670 -2 315 -7 757 -38 640
Primary borrowing requirement excl. net lending3 -38 093 -32 070 -6 023 -16 924 -53 004
Net lending to agencies etc. 835 -1 182 2 018 2 669 1 461
Interest payments on central government debt 1 273 -417 1 690 6 498 12 903
  - Interest on loans in SEK 741 -379 1 120 4 727 13 131
  - Interest on loans in foreign currency 252 -33 285 399 32
  - Realised currency gains and losses 280 -5 285 1 372 -260
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (February 2016).
3 Net of the state's primary income and expenditure excluding net lending to agencies.

Sweden's central government debt May 2016, pdf 

More data on the borrowing requirement and government debt

The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.