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Surplus for Swedish central government in November 2023
Press release 7 December 2023
Swedish central government payments resulted in a surplus of SEK 29 billion in November. The Debt Office's forecast was a surplus of SEK 36 billion. The surplus being less than expected is primarily due to lower tax revenues than forecast. The lower tax revenues were partly offset by net lending also being lower than expected.
The primary balance was SEK 19 billion lower than the forecast. This is mainly due to lower tax revenues of approximately SEK 17 billion compared to the forecast. Lower tax revenues are mainly explained by lower supplementary payments, but to some extent also lower VAT. Additional explanations are higher payments than forecasted from the Swedish Transport Administration and the Swedish Board of Agriculture and lower payments than forecasted to the Swedish Pensions Agency.
The Debt Office’s net lending to government agencies etc. was SEK 12 billion lower than forecasted. This is mainly due to higher than expected deposits from the Deposit Insurance Fund and the Swedish Pensions Agency.
Interest payments on the central government debt were in line with the forecast.
For the twelve-month period up to the end of November 2023, central government payments resulted in a surplus of SEK 41 billion.
Central government debt amounted to SEK 979 billion at the end of November.
The outcome for December 2023 will be published on January 9, 2024 at 8.00 a.m.
The date for publishing a new forecast on the Swedish economy and central government borrowing is February 22 2024.
| Outcome | Forecast | Deviation | Acc. Dev. [2] | Outcome 12-month | |
|---|---|---|---|---|---|
| Budget balance | 28 839 | 35 674 | -6 834 | -3 600 | 40 935 |
| Net borrowing requirement [1] | -28 839 | -35 674 | 6 834 | 3 600 | -40 935 |
| Primary balance [3] | -13 896 | -32 715 | 18 818 | 19 552 | -40 859 |
| Net lending to agencies etc. [4] | -18 458 | -6 747 | -11 711 | -16 359 | -31 228 |
| Interest payments on central government debt | 3 515 | 3 788 | -273 | 407 | 31 153 |
| - Interest on loans in SEK | 3 847 | 4 096 | -249 | -245 | 19 747 |
| - Interest on loans in foreign currency | 216 | 269 | -53 | -46 | 1 875 |
| - Realised currency gains and losses | -548 | -576 | 28 | 698 | 9 530 |
| [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 November 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 October 26, 2023: Forecast and analysis 2023:3.
Press inquiries
The Debt Office's operations shall be characterized by an openness to the public and the media. The right of access to official business is a cornerstone of Swedish democracy.
Our press officer helps you get in touch with the right person so that you can get your questions answered quickly and easily. He can also provide you with material, answer comprehensive questions about our business and upcoming publications.
Mats Lilja, press officer
Press phone (office hours): +46(0)8-613 47 01, mobile +46(0)721-561 527
E-mail: Mats Lilja