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Riksgälden: Surplus for Swedish central government in August

Swedish central government payments resulted in a surplus of SEK 26.9 billion
in August, to be compared with the Debt Office's forecast of SEK 20.6
billion. The difference is mainly due to larger tax income.

Tax income was SEK 4 billion higher than calculated, mainly explained by
higher supplementary tax payments.

The Debt Office's net lending to government agencies was SEK 0.3 billion
higher than forecast.

Interest payments on central government debt were SEK 0.6 billion lower than

For the twelve-month period up to the end of August 2016, central government
payments resulted in a surplus of SEK 61.8 billion.

Central government debt amounted to SEK 1,366 billion at the end of August.

Accumulative forecast deviation June-AugustThe accumulated forecast deviation since the previous forecast in June amounts
to SEK 13 billion. Of this SEK 9 billion is due to higher tax income. The
preliminary debited taxes on wages, consumption and corporate profits have
developed approximately as calculated. Virtually all of the deviation can
instead be explained by higher supplementary tax payments.

The first preliminary tax statements for 2015 indicate an outcome that is well
in line with the Debt Office's forecast. This means that it is not likely
that the larger supplementary tax payments are related to taxes for the
previous year. The Debt Office's interpretation is instead that it largely
concerns the current deposit interest rate on tax accounts, which creates
incentives to pay taxes earlier than otherwise. There are no restrictions on
how large deposits that may be made, which means that tax accounts are also
used as a form of savings. Therefore the outcome for tax income becomes
difficult to interpret. It is uncertain if or when the funds in the tax
accounts will be debited.

The outcome for September will be published on 7 October at 9.30 a.m. On 26
October the Debt Office will publish new forecasts for the Swedish economy,
the budget balance and government borrowing.


Tord Arvidsson, Senior Analyst, +46 (0)8 613 47 53
Robert Sennerdal, Press Secretary, +46 (0)8 613 46 94

| Central government net borrowing requirement1(SEK million) |
| Outcome August Forecast August Deviation August Acc. Dev2 Outcome 12-month |
| Net borrowing requirement -26 874 -20 633 -6 241 -13 467 -61 746 |
| Primary borrowing requirement excl. net lending3 -24 010 -18 078 -5 932 -13 539 -69 261 |
| Net lending to agencies etc. -3 232 -3 542 310 796 -1 264 |
| Interest payments on central government debt 368 987 -619 -724 8 779 |
|- Interest on loans in SEK 189 910 -721 -878 9 330 |
|- Interest on loans in foreign currency 137 -1 138 186 448 |
|- Realised currency gains and losses 42 78 -36 -31 -1 000 |
| 1The net borrowing requirement corresponds to the budget balance with opposite |
|sign. |
| 2Sum of monthly forecast deviations since latest forecast (June 2016). |
| 3Net of the state's primary expenditure and income excluding net lending to |
|agencies. |
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.

Sweden's central government debt August 2016


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Riksgälden via Globenewswire

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