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Surplus for Swedish central government in May

June 9, 2014 - London

Swedish central government payments resulted in a surplus of SEK 28.9 billion in May. The Debt Office's forecast was a surplus of SEK 23.0 billion. The difference of SEK 5.9 billion is mainly due to higher tax income.

The central government's primary borrowing requirement, excluding net lending, was SEK 9.7 billion lower than forecast. The main reason is that tax income was SEK 7.3 billion higher than calculated. It is mainly due to higher VAT payments and preliminary taxes from companies. Accumulated since the previous forecast in February, tax income has been SEK 5.2 billion higher than calculated.

The borrowing requirement overall has been SEK 0.5 billion higher than calculated between February and May compared with the previous forecast.

The Debt Office's net lending to government agencies was SEK 4.5 billion higher than forecast. It is mainly due to higher lending to the Swedish National Grid and lower deposits from the Swedish Pensions Agency.

Interest payments on central government debt were SEK 0.7 billion lower than forecast, which is explained by higher premiums on issued bonds.

For the twelve-month period up to the end of May 2014, central government payments resulted in a deficit of SEK 25.0 billion.

Central government debt amounted to SEK 1,225 billion at the end of May.

The outcome for June will be published on 7 July 2014, at 9:30 am.

New forecasts for 2014 and 2015 will be published on 17 June, at 9:30 am.

Further information can be obtained from:
Tord Arvidsson, +46 8 613 47 53

Central Government Net Borrowing
Requirement (SEK million)

Net borrowing requirement -22 720 -28 936 25 036
Primary borrowing requirement -26 115 -26 173 15 316
Interest payments 3 395 -2 763 9 720
- Interest on loans in SEK 4 620 3 552 19 330
- Interest on loans in foreign currency 263 337 1 452
- Realised currency gains and losses -1 488 -6 653 -11 062
Sweden's Central Government Debt May 2014

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Source: Riksgälden via Globenewswire



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