Central government payments in July gave a surplus of SEK 51.5 billion. The surplus was thus SEK 11.6 billion lower than the Debt Office's forecast.
The deviation between the outcome and our forecast is mainly explained by net lending by the Debt Office being SEK 9.1 billion higher than expected. This in turn was foremost the result of repo transactions by government agencies* that differed from our forecast.
The large surplus is mainly explained by income from the sale of Vin & Sprit. The Government has received payments in dollar and euro that correspond to about SEK 50 billion.
Interest payments on central government debt were SEK 1.1 billion, which was in line with our forecast.
For the twelve-month period, August 2007 to July 2008, the surplus amounted to SEK 158 billion. The central government debt was SEK 1,041 billion at the end of July.
The outcome for August will be published at 9.30 am on 5 September 2008.
Further information can be obtained from:
Tord Arvidsson, phone +46 70 337 47 53
Tord Arvidsson, phone +46 70 337 47 53
*Repo transactions by government agencies mean that they sell government securities with a repurchase agreement. The payment of the repos must be deposited in an account at the Debt Office. If the total volume of outstanding repos change during the month compared to the previous turn of the month it will affect the outcome of the borrowing requirement. We make forecasts of the repo transactions on the basis of the information we receive from the government agencies. However, the forecasts are very uncertain since the government agencies may alter their plans on a short notice.
