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Swedish budget deficit decreased in 2015
Press release 12 January 2016
Swedish central government payments resulted in a deficit of SEK 32.7 billion in 2015.¹ The Debt Office’s forecast from October was a deficit of SEK 45 billion. The difference is mainly explained by higher tax income.
The deficit – the net borrowing requirement – of SEK 32.7 billion can be compared with a deficit of SEK 72.2 billion in 2014. The improvement between years is mainly explained by increased tax income due to a stronger development in the economy.
Central government debt amounted to SEK 1 403 billion at the end of December which was SEK 9 billion higher than in December 2014.
Deficit in December
Central government payments resulted in a deficit of SEK 98.5 billion in December. The Debt Office's forecast was a deficit of SEK 99.0 billion.
Payments to local governments were higher than expected as the Swedish parliament has approved an additional central government grant of SEK 10 billion. This was partially offset by tax income being SEK 5 billion higher than forecast.
The Debt Office's net lending to government agencies was SEK 3.9 billion lower than forecast. The deviation is mainly due to higher deposits from the Swedish Pensions Agency and the Swedish Export Credits Guarantee Board.
Interest payments on central government debt were SEK 1.2 billion lower than forecast due to slightly higher premiums on bond issues and foreign exchange gains.
The outcome for January will be published on 5 February, at. 09:30 a.m.
Contact
Johan Sandberg, senior analyst, +46 (0)8 613 47 37
Linda Rudberg, press officer, +46 (0)8 613 45 38
¹ The outcome is preliminary and may be revised in connection with the Debt Office’s annual accounts. Please refer to the Debt Office’s annual report 2015 for the final annual outcome.
| 1 The net borrowing requirement corresponds to the budget balance with opposite sign. | |||||
| 2 Sum of monthly forecast deviations since the latest forecast (October 2015). | |||||
| 3 Net of the state's primary expenditure and income excluding net lending to agencies. | |||||
| Outcome Dec. | Forecast Dec. | Dev. Dec. | Acc. Dev.² | Outcome 12-mth | |
|---|---|---|---|---|---|
| Net borrowing requirement | 98 457 | 98 951 | -494 | -12 768 | 32 655 |
| Primary borrowing requirement excl. net lending ³ | 59 482 | 54 959 | 4 523 | -6 217 | 427 |
| Net lending to agencies etc. | 25 351 | 29 209 | -3 858 | -4 367 | 10 819 |
| Interest payments on central government debt | 13 623 | 14 782 | -1 159 | -2 184 | 21 408 |
| - Interest on loans in SEK | 14 206 | 15 181 | -975 | -2 624 | 11 332 |
| - Interest on loans in foreign currency | -14 | -42 | 28 | -22 | -220 |
| - Realised currency gains and losses | -569 | -357 | -212 | 462 | 10 297 |