Surplus for Swedish central government in August 2021

Surplus for Swedish central government in August 2021

Swedish central government payments resulted in a surplus of SEK 43.4 billion in August. The Debt Office's forecast was a surplus of SEK 21.3 billion. The higher than expected budget balance is primarily explained by higher than anticipated tax income at the same time as payments from government agencies were lower.

The primary balance was SEK 19.2 billion higher than the forecast. Tax income was almost SEK 10 billion higher than estimated, where supplementary tax was stronger than anticipated. At the same time, also payments from government agencies were lower than expected. It was mainly the Swedish National Agency for Education, Sida, the Legal, Financial and Administrative Services Agency and the Swedish Public Employment Service that displayed lower payments.

The Debt Office’s net lending to government agencies etc. was SEK 2.8 billion lower than the forecast. This is caused by lower lending to a number of government agencies.

Interest payments on central government debt were SEK 0.1 billion lower than the forecast.

For the twelve-month period up to the end of August 2021, central government payments resulted in a deficit of SEK 32.7 billion.

Central government debt amounted to SEK 1 173 billion at the end of August.

The outcome for September 2021 will be published on October 7 at 9.30 a.m.

New forecasts for 2021-2023 are published on October 27.

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Budget balance and central government net borrowing requirement1 (SEK million)
	Outcome	Forecast	Deviation	Acc. Dev2	Outcome 12-month
Budget balance	43 428	21 273	22 155	37 842	-32 659
Net borrowing requirement1	-43 428	-21 273	-22 155	-37 842	32 659
Primary balance3	-36 426	-17 184	-19 242	-31 705	40 288
Net lending to agencies etc.4	-6 216	-3 415	-2 801	-5 643	-21 959
Interest payments on central government debt	-787	-675	-112	-493	14 330
- Interest on loans in SEK	-1 350	-727	-623	-1 009	14 314
- Interest on loans in foreign currency	-49	-61	13	-12	-718
- Realised currency gains and losses	612	113	498	529	734
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.

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 forecast on the Swedish economy and central government borrowing on May 27: Forecast and analysis 2021:2

Attachment

• Sweden’s central government debt August 2021

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