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Deficit for Swedish central government in January
Press release 6 February 2015
Swedish central government payments resulted in a deficit of SEK 12.4 billion in January. The Debt Office’s forecast was a surplus of SEK 2.7 billion. The difference of SEK 15.1 billion is explained by lower tax income, higher net lending to government agencies and higher interest payments on central government debt.
The central government's primary borrowing requirement, excluding net lending, was SEK 6.1 billion higher than forecast. Tax income was SEK 8 billion lower than calculated, which is mainly due to lower payments of supplementary taxes. The Debt Office considers that this is largely a redistribution of payments between months.
The Debt Office's net lending to government agencies was SEK 7.1 billion higher than forecast. The deviation is explained by the Swedish Pensions Agency withdrawing SEK 6 billion from its account at the Debt Office to buy interest-bearing securities. This effect is considered to be temporary.
Interest payments on central government debt were SEK 1.9 billion higher than calculated, which is due to higher exchange rate losses.
For the twelve-month period up to the end of January 2015, central government payments resulted in a deficit of SEK 58.3 billion.
Central government debt amounted to SEK 1,396 billion at the end of January 2015.
New forecasts for 2015 and 2016 will be published in "Central Government Borrowing – forecast and analysis 2015:1" on 19 February, at 9.30 am.
The outcome for February will be published on 6 March, at 9:30 am.
Further information can be obtained from:
Tord Arvidsson, analyst, +46 8 613 47 53
| Outcome Jan | Forecast Jan | Dev. Jan | Acc. dev. 1) | Outcome 12-mth | |
|---|---|---|---|---|---|
| Net borrowing requirement | 12 440 | -2 709 | 15 149 | 27 393 | 58 320 |
| Primary borrowing requirement excl. net lending | 6 289 | 145 | 6 144 | 19 870 | 43 573 |
| Net lending to agencies etc. | 7 671 | 531 | 7 140 | 5 803 | 10 419 |
| Interest payments on central government debt | -1 520 | -3 385 | 1 865 | 1 720 | 4 328 |
| - Interest on loans in SEK | -2 865 | -3 072 | 207 | -411 | 5 893 |
| - Interest on loans in foreign currency | 32 | 47 | -16 | 26 | 1 604 |
| - Realised currency gains and losses | 1 314 | -360 | 1 674 | 2 105 | -3 170 |
| 1) Sum of monthly forecast deviations since the latest forecast (December 2014) | |||||
Sweden's Central Government Debt January 2015
General and detailed information on central government borrowing and debt