Central government payments gave a deficit in June>
Central government payments gave a deficit in June
(Thomson Reuters ONE) - Swedish central government payments gave a deficit of SEK 102.7billion in June. The Debt Office's forecast was SEK 89.3 billion. Thedeficit was thus SEK 13.4 billion larger than expected.Disbursements were almost SEK 8 billion higher than calculated. Thisis mainly explained by tax reimbursements being SEK 3 billion higherthan projected, partly because a larger part than expected of therepayment of excessive taxes was done in June.The Debt Office's net lending to state agencies was SEK 5 billionhigher than estimated. Repo transactions* made by state agenciesaccounted for SEK 3 billion of the difference. These repotransactions will not affect our assessment of the year since theyare included in the forecast for other months.Interest payments on central government debt were SEK 1.7 billion.That is SEK 0.4 billion higher than calculated.The large deficit in June is mainly due to the Debt Office's lendingof SEK 66 billion to the Riksbank in order to restore the currencyreserve. The loan was part of our monthly forecast for June and didthus not cause any deviation from our forecast.The surplus for the twelve-month period up to the end of Juneamounted to SEK 30 billion. Central government debt amounted to SEK1,079 billion at the end of June.The outcome for July will be published at 9.30 am on 7 August 2009.Further information can be obtained from:Sofia Olsson, phone +46 8 613 47 30* Repo transactions by government agencies mean that they sellgovernment securities with a repurchase agreement. The payment of therepos must be deposited in an account at the Debt Office. If thetotal volume of outstanding repos change during the month compared tothe previous turn of the month it will affect the outcome of theborrowing requirement. We make forecasts of the repo transactions onthe basis of the information we receive from the government agencies.However, the forecast are very uncertain since the governmentagencies may alter their plans on a short notice.http://hugin.info/133745/R/1327334/312683.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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