The primary borrowing requirement (all government payments except interest payments) was SEK 8.0 billion smaller than projected. The main reasons are larger tax payments and smaller government net lending than expected. Repayments of funds from the EU and less payments to municipalities also contributed to the reduction of the primary borrowing requirement. These are mainly temporary effects that will not affect the borrowing requirement for the full year of 2004. A revised forecast for 2004 will be published on February 25.
Interest payments on the central government debt in January were SEK 1.4 billion larger than projected. The forecast error is an effect of capital losses, associated with buy-backs, that have been realised earlier than expected. The interest payment forecast for 2004 is thus unaffected.
For the twelve-month period ending January 31, the borrowing requirement amounted to SEK 47 billion. The central government debt amounted to SEK 1,265 billion at the end of January 2004.
The outcome of central government borrowing requirement for February will be published on March 5, 2004, at 9.30 a.m.[1] A revised forecast for 2004 will be published on February 25, 2004, at 9.30 a.m.
For additional information, please contact:
Gunnar Forsling, Senior Economist,
tel. +46 8 613 45 35
[1] The publication schedule for 2002 can be found on the Debt Office's web site (www.rgk.se). It can also be obtained by calling +46-8-613 47 40. Release dates for the outcome of the central government borrowing requirement are published quarter-ahead on the Advance release calendar on the International Monetary Fund's web site (http://dsbb.imf.org) in accordance with the Special Data Dissemination Standard (SDDS).
See appendix with tables on the outcome
