Surplus for Swedish central government in May 2022

Press release 8 June 2022

Swedish central government payments resulted in a surplus of SEK 69.2 billion in May. The Debt Office's forecast was a surplus of SEK 74.3 billion. The difference is due to lower tax income than estimated. At the same time, disbursements from government agencies and the Debt Office’s net lending were lower than expected.

The primary balance was SEK 6.6 billion lower than the forecast. This is mainly because tax income was SEK 9.4 billion lower than estimated. At the same time, payments from a number of government agencies, mainly the Legal, Financial and Administrative Services Agency, were lower than expected.

The Debt Office’s net lending to government agencies etc. was SEK 2.3 billion lower than forecast. This is due to increased deposits from Svenska Kraftnät, partially offset by lower deposits from the Swedish Pensions Agency.

Interest payments on the central government debt were SEK 0.8 billion higher than forecast.

For the twelve-month period up to the end of May 2022, central government payments resulted in a surplus of SEK 156.4 billion.

Central government debt amounted to SEK 1 034 billion at the end of May.

The outcome for June 2022 will be published on July 7 at 8.00 a.m.

The preliminary date for publishing new forecasts for 2022-2024 is October 27.

Budget balance and central government net borrowing requirement1 (SEK million)
 1 The net borrowing requirement corresponds to the budget balance with opposite sign.
 2 Sum of monthly forecast deviations since last forecast.
 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 is not covered by the Central government expenditure ceiling.
 OutcomeForecastDev.Acc. Dev.2Outcome 12-month
Budget balance 69 179 74 322 -5 143 -5 143 156 446
Net borrowing requirement1 -69 179 -74 322 5 143 5 143 -156 446
Primary balance3 -71 785 -78 369 6 585 6 585 -66 867
Net lending to agencies etc.4 -227 2 041 -2 268 -2 268 -97 757
Interest payments on central government debt 2 833 2 006 826 826 8 178
  - Interest on loans in SEK 2 322 2 060 262 262 2 526
  - Interest on loans in foreign currency -57 -56 -1 -1 -804
  - Realised currency gains and losses 568 2 566 566 6 457

Report: Sweden's Central Government Debt May 2022

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.

The Debt Office published their latest forecast on the Swedish economy and central government borrowing on May 24 2022: Forecast and analysis 2022:2

Press inquiries

Mats Lilja, press officer

The Debt Office's operations shall be characterized by an openness to the public and the media. The right of access to official business is a cornerstone of Swedish democracy.

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Mats Lilja, press officer
Press phone (office hours): +46(0)8-613 47 01, mobile +46(0)721-561 527
E-mail: Mats Lilja