Surplus for Swedish central government in February

Swedish central government payments resulted in a surplus of SEK 41.1 billion in February. The Debt Office's forecast was a surplus of SEK 48.0 billion. The difference is mainly due to temporary higher lending to the Riksbank. At the same time, the primary balance was higher than calculated.

The primary balance was SEK 10.8 billion higher than forecasted. This is because tax income was approximately SEK 3 billion higher than estimated and disbursements from a number of agencies, such as Kammarkollegiet, Skolverket and Försäkringskassan were lower than calculated.

The Debt Office's net lending to government agencies etc. was SEK 17.4 billion higher than calculated. This is mainly explained by higher lending to the Riksbank, since loans in foreign currency equivalent to SEK 18.7 billion maturing in March were refinanced already in February. When the original loan matures in March, lending to the Riksbank will decrease by the same amount.

Interest payments on central government debt were SEK 0.2 billion higher than calculated.

For the twelve-month period up to the end of February 2019, central government payments resulted in a surplus of SEK 80.0 billion.

Central government debt amounted to SEK 1,224 billion at the end of February.

The outcome for March 2019 will be published on 5 April at 9.30 a.m.


Tord Arvidsson, Analyst +46 (0)8 613 47 53
Press Secretary, +46 (0)8 613 47 01

Central government net borrowing requirement1 (SEK million)  
  Outcome February Forecast February Deviation February Acc.  Dev2 Outcome 12-month
Net borrowing requirement -41 088 -47 961 6 873 6 873 -79 957
Primary balance3 -54 756 -44 006 -10 750 -10 750 -104 481
Net lending to agencies etc.4 14 346 -3 039 17 385 17 385 10 555
Interest payments on central government debt -678 -916 238 238 13 969
  - Interest on loans in SEK -758 -1 060 302 302 13 373
  - Interest on loans in foreign currency 7 -46 53 53 -378
  - Realised currency gains and losses 73 190 -117 -117 974
1 The net borrowing requirement corresponds to the budget balance with opposite sign.
2 Sum of monthly forecast deviations since last forecast (February 2019).
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:

The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.


Sweden's Central Government Debt February 2019