Surplus for Swedish central government in February 2020

Press release 6 March 2020

Swedish central government payments resulted in a surplus of SEK 58.9 billion in February. The Debt Office's forecast was a surplus of SEK 45.5 billion. Higher tax revenues than expected was the main reason behind the deviation between the forecast and outcome.

The primary balance, the difference between central government income and expenditure, was 13.9 billion higher than expected. Tax income was approximately SEK 12 billion higher than forecasted, this is mainly due to higher payments of supplementary tax and slightly lower withdrawals from tax accounts than expected. In addition, the payments to some agencies such as the Swedish Board of Agriculture were higher than expected.

The Debt Office’s net lending to government agencies etc. was SEK 0.7 billion higher than expected. This was mainly due to higher lending to the Swedish Defence Materiel Administration.

Interest payments on central government debt were in line with the forecast.

For the twelve-month period up to the end of February 2020, central government payments resulted in a surplus of SEK 118 billion.

Central government debt amounted to SEK 1,055 billion at the end of February.

The outcome for March 2020 will be published on 7 April at 9.30 a.m.

Contact

Elin Stenbacka, Macroeconomist +46 (0)8 613 45 99
Press Secretary, +46 (0)8 613 47 01

Budget balance and central government net borrowing requirement1 (SEK million)
 Outcome   Feb.Forecast Feb.Deviation Feb.Acc.    Dev2Outcome 12-month
Budget balance 58 877 45 533 13 345 13 345 118 001
Net borrowing requirement  -58 877 -45 533 -13 345 -13 345 -118 001
Primary balance3 -60 092 -46 208 -13 885 -13 885 -57 505
Net lending to agencies etc.4 -121 -799 678 678 -84 447
Interest payments on central government debt 1 336 1 474 -139 -139 23 951
  - Interest on loans in SEK 1 069 1 010 59 59 18 363
  - Interest on loans in foreign currency -118 -34 -84 -84 -426
  - Realised currency gains and losses 385 498 -113 -113 6 014
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (February 2020).
3 Net of the state's primary expenditure and income.
4 The net of government agencies etc. deposits and loans in the state’s internal bank. The net lending includes both current government operations and temporary occurrences which can be decided on short notice. The net lending affects the net borrowing requirement and central government debt, but are not covered by the Central government expenditure ceiling.

More data on the borrowing requirement and government debt

Report: Sweden's central government debt February 2020

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