Swedish central government payments resulted in a deficit of SEK 100.7 billion in December. The Debt Office's forecast was a deficit of SEK 88.5 billion. The difference is mainly due to larger disbursements from a number of agencies and lower tax income.
The central government's primary borrowing requirement, excluding net lending, was SEK 13.7 billion higher than forecast. Tax income was SEK 4.8 billion lower than calculated. In addition, disbursements from government agencies were SEK 5.7 billion higher than forecast, while the Swedish contribution to the EU was SEK 3.2 billion higher.
The Debt Office's net lending to government agencies was SEK 1.3 billion lower than forecast. This is mainly explained by larger deposits from the Swedish Export Credits Guarantee Board and the Nuclear Waste Fund.
Interest payments on central government debt amounted to SEK 8.0 billion, which was SEK 0.1 billion lower than calculated.
Budget deficit for the full year 2014
For the full year 2014 the deficit was SEK 72.2 billion[1], which can be compared with SEK 131 billion in 2013. The decrease between the years is mainly due to on-lending to the Riksbank, Iceland and Ireland increasing by more than SEK100 billion in 2013, while being almost unchanged in 2014.
Central government debt amounted to SEK 1,394 billion at the end of 2014. This can be compared to SEK 1,277 billion one year earlier.
General and detailed information on central government borrowing and debt is reported on the Debt Office's website: https://www.riksgalden.se/en/For-investors/Borrowing-and-the-government-debt/
The outcome for January will be published on 6 February 2015, at 9:30 am.
Further information can be obtained from:
Håkan Carlsson, analyst, +46 8 613 47 33
| CENTRAL GOVERNMENT NET BORROWING REQUIREMENT (SEK million) | Outcome Dec | Forecast Dec | Deviation Dec | Acc. dev.1 | Outcome 12-month |
| Net borrowing requirement | 100 724 | 88 480 | 12 244 | 12 244 | 72 202 |
| Primary borrowing requirement excl. net lending | 62 266 | 48 539 | 13 726 | 13 726 | 46 755 |
| Net lending to agencies etc. | 30 421 | 31 759 | -1 338 | -1 338 | 22 249 |
| Interest payments on central government debt | 8 037 | 8 182 | -145 | -145 | 3 198 |
| - Interest on loans in SEK | 7 564 | 8 182 | -618 | -618 | 6 609 |
| - Interest on loans in foreign currency | 26 | -16 | 42 | 42 | 1 608 |
| - Realised currency gains and losses | 447 | 15 | 432 | 432 | -5 019 |
| 1 Sum of monthly forecast deviations since the latest forecast, December 2014. | |||||
[1] The outcome is preliminary and may be revised in connection with the Debt Office's annual accounts. Please refer to the Debt Office's annual report 2014 for the final annual outcome.
