Surplus for Swedish central government in January

7 February 2017 - Press release

Swedish central government payments resulted in a surplus of SEK 8.7 billion in January. The Debt Office’s forecast was a deficit of SEK 2.1 billion. The difference is mainly due to lower disbursement of membership fee to the EU and preponed payments of agricultural subsidies from the EU.

The contribution to the EU budget amounted to SEK 0 billion in January, which was SEK 4 billion lower than forecast. This is due to amending budgets agreed in December 2016.

Payments of agricultural subsidies from the EU amounted to SEK 4 billion in January. These payments were in the forecast for February and will thus not affect the full year.

Tax income was SEK 2 billion higher than forecast.

The Debt Office's net lending to government agencies was SEK 0.6 billion higher than calculated.

Interest payments on central government debt were SEK 2.2 billion lower than calculated, which was largely due to lower capital losses in switch auctions of nominal bonds.

For the twelve-month period up to the end of January 2017, central government payments resulted in a surplus of SEK 77.4 billion.

Central government debt amounted to SEK 1,326 billion at the end of January.

The outcome for February will be published on 7 March at 9.30 a.m.

Revised forecasts for 2017 and 2018 will be published on 22 February at 9:30 a.m.

Central government net borrowing requirement1  (SEK million)
  Outcome Jan. Forecast Jan. Deviation Jan. Acc.    Dev2 Outcome 12-month
Net borrowing requirement  -8 684 2 118 -10 802 -16 390 -77 392
Primary borrowing requirement excl. net lending3 -4 915 4 263 -9 178 -13 064 -91 349
Net lending to agencies etc. -1 588 -2 238 650 -928 13 666
Interest payments on central government debt -2 182 92 -2 274 -2 398 292
  - Interest on loans in SEK -1 430 232 -1 662 -1 956 3 155
  - Interest on loans in foreign currency -31 25 -56 37 518
  - Realised currency gains and losses -720 -165 -555 -479 -3 381
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (October 2016).
3 Net of the state's primary income and expenditure excluding net lending to agencies.

Contact

Håkan Carlsson, Senior Analyst +46 (0)8 613 47 33

Robert Sennerdal, Press Secretary, +46 (0)8 613 46 94

Sweden's Central Government Debt January 2017

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.