Deficit for Swedish central government in September 2022
Press release 7 October 2022
Swedish central government payments resulted in a deficit of SEK 5.9 billion in September. The Debt Office's forecast was a deficit of SEK 2.4 billion. The difference is primarily explained by payments from government agencies being higher than expected while tax income was lower. This was partially offset by the Debt Office’s net lending being lower than anticipated.
The primary balance was SEK 12.7 billion lower than the forecast. Payments from several government agencies, for instance the Swedish Pensions Agency and the Swedish Transport Administration, were higher than expected. Payments related to the EU fee were also higher. This is because payments expected in August were made in September instead, which compared to the forecast in May means a redistribution between the months. At the same time, tax income was SEK 2.4 billion lower than estimated.
The Debt Office’s net lending to government agencies etc. was SEK 10.4 billion lower than forecast. This is mainly due to higher deposits from Svenska kraftnät and the Swedish Pensions Agency.
Interest payments on the central government debt were SEK 1.3 billion higher than forecast. The difference is mainly explained by higher currency losses.
For the twelve-month period up to the end of September 2022, central government payments resulted in a surplus of SEK 150.9 billion.
Central government debt amounted to SEK 1 073 billion at the end of September.
The outcome for October 2022 will be published on November 7 at 8.00 a.m.
The date for publishing new forecasts for 2022–2024 is October 27.
|Outcome||Forecast||Deviation||Acc. Dev.2||Outcome 12-month|
|Budget balance||-5 944||-2 408||-3 536||26 874||150 928|
|Net borrowing requirement1||5 944||2 408||3 536||-26 874||-150 928|
|Primary balance3||17 192||4 515||12 677||5 834||-58 012|
|Net lending to agencies etc.4||-13 044||-2 595||-10 449||-37 929||-111 934|
|Interest payments on central government debt||1 796||488||1 307||5 221||19 018|
|- Interest on loans in SEK||3||256||-253||422||9 818|
|- Interest on loans in foreign currency||-68||-6||-62||-58||-611|
|- Realised currency gains and losses||1 861||238||1 623||4 857||9 811|
|1 The net borrowing requirement corresponds to the budget balance with opposite sign.|
|2 Sum of monthly forecast deviations since last forecast.|
|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 is not covered by the Central government expenditure ceiling.|
The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.
The Debt Office published their latest forecast on the Swedish economy and central government borrowing on May 24 2022: Forecast and analysis 2022:2
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