Surplus for Swedish central government in July 2023

Press release 7 elokuuta 2023

Swedish central government payments resulted in a surplus of SEK 6.5 billion in July. The Debt Office's forecast was a minor surplus of SEK 0.1 billion. The difference is mainly due to higher tax income and lower payments from government agencies than expected. These effects were partly counteracted by payments of electricity price compensation.

The primary balance was SEK 14.2 billion higher than the forecast. Tax income was approximately SEK 5 billion higher than estimated. Furthermore, payments from government agencies were altogether around SEK 3 billion lower than the forecast. Moreover, the primary balance was also strengthened by SEK 10 billion due to a transfer from Svenska kraftnät's account in the Debt Office. The funds are to be used for payments of electricity price compensation to companies. During the month, only around SEK 4 billion was paid out, which means that the primary balance has been positively affected by SEK 6 billion net. In the forecast, the Debt Office has assumed 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.

The Debt Office’s net lending to government agencies etc. was SEK 7.6 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, as it decreases Svenska kraftnät’s deposits at the same time as it strengthens the primary balance.

Interest payments on the central government debt were SEK 0.2 billion higher than the forecast.

For the twelve-month period up to the end of July 2023, central government payments resulted in a surplus of SEK 79.1 billion.

Central government debt amounted to SEK 1 009 billion at the end of July.

The outcome for August 2023 will be published on September 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) 
 OutcomeForecastDev.Acc. Dev. [2]Outcome 12-month

Budget balance

6 483


6 361

14 541

79 059

Net borrowing requirement [1]

-6 483


-6 361

-14 541

-79 059

Primary balance [3]

-8 168

6 023

-14 192

-26 291

-46 967

Net lending to agencies etc. [4]


-6 885

7 599

10 339

-61 664

Interest payments on central government debt




1 411

29 572

  - Interest on loans in SEK





15 570

  - Interest on loans in foreign currency






  - Realised currency gains and losses




1 534

13 154

[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 Swedens Central Government Debt July 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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