Unchanged funding in government bonds
(Thomson Reuters ONE) -
The central government borrowing increases during 2013 and 2014. This is mainly
due to the increased on-lending to the Riksbank of SEK 100 billion. Borrowing in
government bonds remains at SEK 74 billion in 2013 and SEK 84 billion in 2014.
The Swedish economy has resisted the international economic downturn relatively
well. However, GDP-growth is weak and lower tax income affects central
government finances. The net borrowing requirement increases moderately in
comparison with the previous forecast, excluding the on-lending to the Riksbank.
- Sweden's central government finances remain among the strongest in Europe.
Sweden is able to counter a weaker economic growth, says Director General, Hans
Lindblad.
Central Government Borrowing will increase to SEK 165 billion this year. The
borrowing requirement was SEK 55 billion in the previous forecast. The increased
borrowing requirement is mainly due to the increased on-lending to the Riksbank
of SEK 100 billion.
+------------------------------------------------------------------------------+
|Net borrowing requirement and central government debt (SEK billion) |
+---------------------------------------------------------+------+------+------+
| | 2012| 2013| 2014|
+---------------------------------------------------------+------+------+------+
|Net borrowing requirement | 25| 165| 63|
+---------------------------------------------------------+------+------+------+
|Central government debt | 1 153| 1 310| 1 388|
+---------------------------------------------------------+------+------+------+
|Central government debt, % of GDP |32.5 %|35.9 %|36.6 %|
+---------------------------------------------------------+------+------+------+
|Central government debt incl. on-lending and money market|29.0 %|30.0 %|30.9 %|
|assets, % of GDP | | | |
+---------------------------------------------------------+------+------+------+
The borrowing requirement will be split into several instruments. The bulk part
of the increase is in foreign currency due to the on-lending to the Riksbank's
foreign exchange reserve. Borrowing in government bonds remains at SEK 74
billion in 2013 and SEK 84 billion in 2014. We will mainly issue in the ten-year
maturity. At present we are not planning any auctions in longer maturities. We
raise the issue volume of inflation-linked bonds to SEK 12 billion per year.
+-----------------------------------------------+
| Borrowing (SEK billion) |
+--------------------------+------+------+------+
| | 2012 | 2013 | 2014 |
+--------------------------+------+------+------+
| Government bonds | 59 | 74 | 84 |
+--------------------------+------+------+------+
| Inflation-linked bonds | 7 | 12 | 12 |
+--------------------------+------+------+------+
| T-bills | 105 | 130 | 150 |
+--------------------------+------+------+------+
| Foreign currency bonds | 35 | 137 | 71 |
+--------------------------+------+------+------+
| of which to the Riksbank | 35 | 130 | 32 |
+--------------------------+------+------+------+
For more information, please contact:
Thomas Olofsson, investor relations, +46 8 613 47
Unni Jerndal, press relations, +46 8 613 45 96
Central Government Borrowing, Forecast and Analysis 2013:1:
http://hugin.info/133745/R/1679349/548369.pdf
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Source: Riksgälden via Thomson Reuters ONE
[HUG#1679349]
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Datum: 20.02.2013 - 09:30 Uhr
Sprache: Deutsch
News-ID 231182
Anzahl Zeichen: 4522
contact information:
Town:
Stockholm
Kategorie:
Business News
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