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Surplus for Swedish central government in February 2020
Press release 6 March 2020
Swedish central government payments resulted in a surplus of SEK 58.9 billion in February. The Debt Office's forecast was a surplus of SEK 45.5 billion. Higher tax revenues than expected was the main reason behind the deviation between the forecast and outcome.
The primary balance, the difference between central government income and expenditure, was 13.9 billion higher than expected. Tax income was approximately SEK 12 billion higher than forecasted, this is mainly due to higher payments of supplementary tax and slightly lower withdrawals from tax accounts than expected. In addition, the payments to some agencies such as the Swedish Board of Agriculture were higher than expected.
The Debt Office’s net lending to government agencies etc. was SEK 0.7 billion higher than expected. This was mainly due to higher lending to the Swedish Defence Materiel Administration.
Interest payments on central government debt were in line with the forecast.
For the twelve-month period up to the end of February 2020, central government payments resulted in a surplus of SEK 118 billion.
Central government debt amounted to SEK 1,055 billion at the end of February.
The outcome for March 2020 will be published on 7 April at 9.30 a.m.
Contact
Elin Stenbacka, Macroeconomist +46 (0)8 613 45 99
Press Secretary, +46 (0)8 613 47 01
| Outcome Feb. | Forecast Feb. | Deviation Feb. | Acc. Dev2 | Outcome 12-month | |
|---|---|---|---|---|---|
| Budget balance | 58 877 | 45 533 | 13 345 | 13 345 | 118 001 |
| Net borrowing requirement | -58 877 | -45 533 | -13 345 | -13 345 | -118 001 |
| Primary balance3 | -60 092 | -46 208 | -13 885 | -13 885 | -57 505 |
| Net lending to agencies etc.4 | -121 | -799 | 678 | 678 | -84 447 |
| Interest payments on central government debt | 1 336 | 1 474 | -139 | -139 | 23 951 |
| - Interest on loans in SEK | 1 069 | 1 010 | 59 | 59 | 18 363 |
| - Interest on loans in foreign currency | -118 | -34 | -84 | -84 | -426 |
| - Realised currency gains and losses | 385 | 498 | -113 | -113 | 6 014 |
| 1 The net borrowing requirement corresponds to the budget balance with opposite sign. | |||||
| 2 Sum of monthly forecast deviations since last forecast (February 2020). | |||||
| 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 are not covered by the Central government expenditure ceiling. | |||||
More data on the borrowing requirement and government debt
Report: Sweden's central government debt February 2020
The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.