The Swedish central government borrowing requirement was SEK -19.4 billion in September, whereas our forecast was SEK -5.5 billion.
The deviation is explained by the Debt Office's net lending being SEK 14 billion lower than expected. This is mainly due to a deposit of SEK 11 billion by the Swedish Nuclear Waste Fund in their account at the Debt Office. The deposit is made as part of their repo transactions. All other government payments developed in line with our forecast.
Increased repo volumes by the Swedish Nuclear Waste Fund and the Premium Pension Authority result in the borrowing requirement varying more from month to month. However, we do not expect any effect on the borrowing requirement for the full year since the authorities will close their repos over the turn of the year.
The accumulated forecast deviation for the borrowing requirement, excluding the effect from repo transactions by the Swedish Nuclear Waste Fund and the Premium Pension Authority, for the latest four months (i.e. since our previous forecast) amounts to SEK -4 billion.
Interest payments on central government debt were SEK 1.7 billion in September. This was SEK 0.5 billion higher than expected.
The borrowing requirement for the twelve-month period up to the end of September was SEK -127.6 billion (i.e. a surplus). The central government debt was SEK 1,128 billion at the end of September.
New forecasts for 2007 and 2008 will be published at 9.30 am on 24 October 2007. The outcome of the central government borrowing requirement for October will be published at 9.30 am on 7 November 2007.
Further information can be obtained from:
Sten Hansen phone +46 8 613 47 37
