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Surplus for Swedish central government in November 2020

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Surplus for Swedish central government in November 2020

Swedish central government payments resulted in a surplus of SEK 40.4 billion in November. The Debt Office's forecast was a surplus of SEK 20.5 billion. The difference is due to lower disbursements and higher tax income than expected.

The report Sweden’s Central Government Debt November 2020 was accidentally published prematurely on Sunday 6 December instead of Monday 7 December at 9:30 CET as scheduled. Due to this error, the Swedish National Debt Office is now publishing in advance the outcome of central government payments and the size of the central government debt for November 2020 in its entirety.

The primary balance was SEK 20.4 billion higher than forecasted. Tax income were approximately SEK 7 billion higher than calculated. In addition, disbursements from a number of agencies were lower than expected.

The Debt Office’s net lending to government agencies etc. were SEK 0.8 billion lower than forecasted.

Interest payments on central government debt were were SEK 1.3 billion higher than calculated.

For the twelve-month period up to the end of November 2020, central government payments resulted in a deficit of SEK 193.1 billion.

Central government debt amounted to SEK 1,137 billion at the end of November.

The outcome for December 2020 will be published on 12 January 2021 at 9.30 a.m.

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Budget balance and central government net borrowing requirement1 (SEK million)
Outcome NovemberForecast NovemberDeviation NovemberAcc. Dev2Outcome 12-month
Budget balance40,38320,46419,91929,506-193,102
Net borrowing requirement -40,383-20,464-19,919-29,506193,102
Primary balance3-20,684-247-20,437-27,268156,996
Net lending to agencies etc.4-23,245-22,455-790-3,65223,676
Interest payments on central government debt3,5462,2371,3091,41412,430
  - Interest on loans in SEK3,6221,7451,8772,27410,491
  - Interest on loans in foreign currency-50-32-18-117-1,055
  - Realised currency gains and losses-26524-550-7432,994
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (October 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 21 October: Central Government borrowing 2020:3.

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