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Deficit for Swedish central government in October 2020

Riksgälden
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Deficit for Swedish central government in October 2020

Swedish central government payments resulted in a deficit of SEK 36.0 billion in October. The Debt Office's forecast was a deficit of SEK 45.6 billion. The deviation is largely due to higher tax income than forecasted.

The primary balance was SEK 6.8 billion higher than forecasted. This is mainly due to tax revenues being approximately SEK 8 billion higher than calculated, which in turn is due to higher supplementary tax payments than expected.

The Debt Office’s net lending to government agencies etc. were SEK 2.9 billion lower than calculated. This was due to a lower lending to The Swedish Defence Materiel Administration and The Swedish Transport Administration.

Interest payments on central government debt were in line with the forecast.

For the twelve-month period up to the end of October 2020, central government payments resulted in a deficit of SEK 208.3 billion.

Central government debt amounted to SEK 1,238 billion at the end of October.

The outcome for November 2020 will be published on 7 December at 9.30 a.m.

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Budget balance and central government net borrowing requirement1 (SEK million)

Outcome October

Forecast October

Deviation October

Acc. Dev2

Outcome 12-month

Budget balance

-35 973

-45 560

9 587

9 587

-208 266

Net borrowing requirement1

35 973

45 560

-9 587

-9 587

208 266

Primary balance3

19 484

26 315

-6 831

-6 831

154 872

Net lending to agencies etc.4

17 786

20 647

-2 861

-2 861

41 933

Interest payments on central government debt

-1 297

-1 402

105

105

11 461

- Interest on loans in SEK

-1 465

-1 862

397

397

8 584

- Interest on loans in foreign currency

-146

-47

-99

-99

-843

- Realised currency gains and losses

314

507

-193

-193

3 721

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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