Surplus for Swedish central government in January 2021

Press release 5 February 2021

Swedish central government payments resulted in a surplus of SEK 7.7 billion in January. The Debt Office's forecast was a deficit of SEK 10.6 billion.

The primary balance was SEK 15.8 billion higher than forecasted. Tax income were approximately SEK 9 billion higher than calculated. This is partly due to higher payments than expected from municipalities to the central government in the 2019 settlement of municipal tax payments. The settlement is made between municipalities and the central government in January each year and is a final calculation of municipal tax. In addition, payments from a number of agencies, for example the universities and the Swedish National Agency for Education, were lower than expected.

The Debt Office’s net lending to government agencies etc. were SEK 1.4 billion lower than forecasted.

Interest payments on central government debt were were SEK 1.1 billion lower than calculated.

For the twelve-month period up to the end of January 2021, central government payments resulted in a deficit of SEK 209.8 billion.

Central government debt amounted to SEK 1 270 billion at the end of January.

New forecasts for 2021 and 2022 will be published on 24 February at 9.30 a.m.

The outcome for February 2021 will be published on 5 March at 9.30 a.m.

Budget balance and central government borrowing requirement (SEK million)
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (October 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.
 Outcome JanuaryForecast JanuaryDeviation JanuaryAcc.    Dev2Outcome 12-month
Budget balance 7,731 -10,593 18,324 53,863 -209,834
Net borrowing requirement1  -7,731 10,593 -18,324 -53,863 209,834
Primary balance3 -2,570 13,243 -15,813 -48,109 163,972
Net lending to agencies etc.4 -2,955 -1,508 -1,447 -3,427 27,511
Interest payments on central government debt -2,207 -1,143 -1,064 -2,327 18,352
  - Interest on loans in SEK -2,048 -1,289 -759 -1,139 17,045
  - Interest on loans in foreign currency -45 -64 19 -133 -943
  - Realised currency gains and losses -114 210 -324 -1,055 2,250

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.

Report: Central Government Debt January 2021, pdf

Press secretary

Åsa Elm, pressansvarig

The Debt Office's operations shall be characterized by an openness to the public and the media. The right of access to official business is a cornerstone of Swedish democracy.

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Åsa Elm
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E-mail: Åsa Elm
Press phone: 08-613 47 01 (office hours and occasionally in between)