Surplus for Swedish central government in May 2024

Press release 10 June 2024

Swedish central government payments resulted in a surplus of SEK 31.6 billion in January. This was lower than the National Debt Office’s forecast of SEK 41.7 billion. The difference is mainly due to higher payments by government agencies and higher net lending.

The primary balance was SEK 6.2 billion lower than forecast. The difference is due to the fact that the payments from several authorities were higher than expected, but also that the tax income was approximately SEK 2.5 billion lower than forecast.

The National Debt Office's net lending to authorities, etc. was SEK 3.9 billion higher than the forecast. This is mainly due to lower deposits than expected.

The interest payments on the national debt were in line with the forecast.

For the twelve-month period up to and including May 2024, the government's payments showed a deficit of SEK 32 billion.

Central government debt amounted to SEK 1,012 billion at the end of May. As of May 2024, the debt figure reported is obtained using a new accounting method for balances in the bank accounts included in central government debt management. This change means that the reporting is aligned with accounting practices and provides a more accurate debt figure.1 Revised monthly debt figures since the beginning of 2024 using the new accounting method are available on the Debt Office’s website.

The outcome for June 2024 will be published on 5 July 2024 at 08.00.

The date for publishing a new forecast on the Swedish economy and central government borrowing is 28 November.

1 The accounting method now applied is settlement date accounting, replacing trade date accounting. In addition, the Debt Office is including an adjusting entry in the reporting, for amounts on the way to or from the bank accounts. The sum of the settlement date amount and the adjusting entry forms the trade date balance that was previously reported as part of the debt. Until now, solely settlement date accounting has been applied for the Debt Office’s account at the Riksbank, which is used for settling payments in Swedish kronor. With the new adjusting entry, money going into and out of this account is also included, providing a more accurate debt figure.

Budget balance and central government net borrowing requirement [1] (SEK million)
 OutcomeForecastDeviationAcc. Dev. [2]Outcome 12-month
Budget balance 31 586 41 702 -10 116 -10 116 -32 397
Net borrowing requirement [1] -31 586 -41 702 10 116 10 116 32 397
Primary balance [3] -43 679 -49 897 6 218 6 218 -12 415
Net lending to agencies etc. [4] 8 480 4 539 3 941 3 941 17 588
Interest payments on central government debt 3 613 3 656 -43 -43 27 223
  - Interest on loans in SEK 3 050 3 290 -240 -240 22 276
  - Interest on loans in foreign currency 617 200 417 417 3 548
  - Realised currency gains and losses -54 166 -220 -220 1 399
[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.

Report: Sweden's Central Government Debt May 2024

More data on the central government net borrowing requirement and government debt

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

The National Debt Office published its latest forecast on the Swedish economy and central government borrowing on May 30, 2024: Forecast and analysis 2024:2.

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