Press release 18 June 2013
Sweden’s central government net borrowing requirement for 2013 will be SEK 183 billion, which is an increase of SEK 18 billion compared with the Debt Office’s previous forecast. Next year the borrowing requirement will be SEK 65 billion, which is SEK 2 billion more than in the previous forecast. Borrowing in government bonds remains unchanged.
Economic growth is still relatively modest. GDP will increase an estimated 1.5 per cent this year and 2.4 per cent in 2014.
– These are strong figures in relation to the rest of Europe. Growth ensures that central government finances remain stable, says Hans Lindblad, Director General of the Swedish National Debt Office.
The increase in the borrowing requirement is mainly due to the fact that the new forecast includes SEK 10 billion more of on-lending to the Riksbank than the previous forecast. At the end of May, the on-lending to the Riksbank's foreign-exchange reserves totaled SEK 200 billion, which means that the Riksbank has now used the entire facility.
Net borrowing requirement and central government debt (SEK billion)
|Net borrowing requirement
|Central government debt
|Central government debt, % of GDP
|Central government debt incl. on-lending and money market assets, % of GDP
Borrowing in government bonds remains at SEK 74 billion in 2013 and SEK 84 billion in 2014. The Debt Office will mainly issue in the ten-year maturity and does not plan any auctions in longer maturities at present. The issue volume of inflation-linked bonds will increase to SEK 15 billion per year in 2014.
Borrowing (SEK billion)
|Foreign currency bonds
|of which to the Riksbank
For more information, please contact:
Magdalena Belin, investor relations, +46 8 613 52 28
Linda Rudberg, press relations, +46 8 613 45 38
Central Government Borrowing, Forecast and Analysis 2013:2