Deficit for Swedish central government in June 2023

Press release 7 July 2023

Swedish central government payments resulted in a deficit of SEK 34.3 billion in June. The Debt Office's forecast was a deficit of SEK 26.6 billion. The difference is mainly due to lower tax income and payments of electricity price compensation.

The primary balance was SEK 1.9 billion higher than the forecast. However, tax incomes were approximately SEK 6 billion lower than estimated. The primary balance was strengthened by SEK 10 billion due to a transfer from Svenska kraftnät's account in the Debt Office. The funds must to be used for payments of electricity price compensation to companies. During the month, only SEK 5 billion was paid out, which means that the primary balance has been positively affected by SEK 5 billion net. In the forecast, the Debt Office had calculated that payments of electricity price compensation would be carried out in August, and totalling SEK 30 billion. As the Swedish Tax Agency processes applications, more electricity price compensation will be paid out. In addition, disbursements from a number of agencies were a total of around SEK 3 billion lower than forecast.

The Debt Office’s net lending to government agencies etc. was SEK 8.6 billion higher than forecasted. This is mainly due to the transfer of SEK 10 billion from Svenska kraftnät’s account to the primary balance for payments of electricity price compensation to companies. The transfer is neutral for the budget balance.

Interest payments on the central government debt were SEK 1.0 billion higher than forecast.

For the twelve-month period up to the end of June 2023, central government payments resulted in a surplus of SEK 88 billion.

Central government debt amounted to SEK 1020 billion at the end of June.

The outcome for July 2023 will be published on August 7, 2023 at 8.00 a.m.

The date for publishing a new forecast on the Swedish economy and central government borrowing is October 26.

Budget balance and central government net borrowing requirement (SEK million)
 OutcomeForecastDeviationAcc.    Dev. [2]Outcome 12-month
Budget balance -34 333 -26 598 -7 735 8 180 88 008
Net borrowing requirement [1] 34 333 26 598 7 735 -8 180 -88 008
Primary balance [3] 26 391 28 260 -1 869 -12 100 -41 927
Net lending to agencies etc. [4] 2 645 -5 940 8 585 2 740 -75 301
Interest payments on central government debt 5 297 4 278 1 019 1 179 29 220
  - Interest on loans in SEK 4 104 3 797 306 169 15 791
  - Interest on loans in foreign currency 205 146 59 17 426
  - Realised currency gains and losses 989 335 654 993 13 003
 [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.

Report Sweden's Central Government Debt June 2023

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.

The Debt Office published their latest forecast on the Swedish economy and central government borrowing on May 25 2023: Forecast and analysis 2023:2

Press inquiries

Mats Lilja, press officer

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Mats Lilja, press officer
Press phone (office hours): +46(0)8-613 47 01, mobile +46(0)721-561 527
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