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2020-07-07

Deficit for Swedish central government in June 2020

Swedish central government payments resulted in a deficit of SEK 56.5 billion in June. The Debt Office's forecast was a deficit of SEK 70.5 billion. The deviation is largely due to higher tax income than forecasted.

The primary balance was SEK 13.9 billion higher than forecasted. Most of the difference is explained by tax income being approximately SEK 10 billion higher than estimated. Statistics showing the effects of the various tax types are not available at this time. Statistics for May showed, among other things, that the payments of wage taxes and corporate income tax were higher than expected.

The Debt Office’s net lending to government agencies etc. were SEK 0.1 billion lower than calculated.

Interest payments on central government debt were SEK 0.1 billion higher than forecasted.

For the twelve-month period up to the end of June 2020, central government payments resulted in a deficit of SEK 58.0 billion.

Central government debt amounted to SEK 1,158 billion at the end of June.

The outcome for July 2020 will be published on 7 August at 9.30 a.m.

Contact

Press Secretary, +46 (0)8 613 47 01

Budget balance and central government net borrowing requirement1 (SEK million)  
  Outcome June Forecast June Deviation June Acc.  Dev2 Outcome 12-month
Budget balance -56 525 -70 464 13 938 41 558 -58 050
Net borrowing requirement1 56 525 70 464 -13 938 -41 558 58 050
Primary balance3 58 198 72 106 -13 908 -36 738 73 106
Net lending to agencies etc.4 -4 249 -4 166 -83 -3 965 -32 936
Interest payments on central government debt 2 576 2 523 53 -856 17 880
  - Interest on loans in SEK 3 571 3 103 468 -168 12 413
  - Interest on loans in foreign currency -73 -66 -7 -26 -615
  - Realised currency gains and losses -922 -514 -408 -661 6 082
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (May 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:

https://www.riksgalden.se/en/statistics/statistics-on-central-government-borrowing/

The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.

The Debt Office published their latest prognosis on the Swedish economy and central government borrowing on 19 May: Central Government borrowing 2020:2.

 

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