Central government payments gave a deficit in October
(Thomson Reuters ONE) -
Swedish central government payments resulted in a deficit of SEK 16.6 billion in
October. The Debt Office's forecast was a deficit of SEK 18.1 billion.
Tax revenue was SEK 3.6 billion higher than calculated and disbursements by
authorities were altogether SEK 4.2 billion lower than forecasted.
Interest payments on central government debt were SEK 3.9 billion lower than
forecasted. The difference is mainly explained by lower capital losses and
foreign exchange losses than expected. The reason behind lower capital losses is
that exchanges of inflation-linked bonds that were planned in October already
took place in September. For more information see the Debt Office's press
release regarding the outcome for Swedish central government payments in
September.
The Debt Office's net lending was SEK 10.1 billion higher than calculated. This
is mainly explained by repo transactions* by government agencies.
For the twelve-month period up to the end of October 2010, central government
payments resulted in a deficit of SEK 28 billion. Central government debt
amounted to SEK 1,072 billion at the end of October.
The outcome for November will be published at 9.30 am on 7 December 2010.
New revised forecasts for 2010 and 2011, along with our first forecast for
2012, will be published at 9.30 am on 16 November 2010.
Further information can be obtained from:
Eric Morell, phone +46 8 613 47 71
* Repo transactions by government agencies mean that they sell government
securities with a repurchase agreement. The payment of the repos can be
deposited in an account at the Debt Office. If the total volume of outstanding
repos change during the month compared to the previous turn of the month it will
affect the outcome of the borrowing requirement. They can also buy bonds with a
resell agreement. If they use the payment when they sell a bond with a
repurchase agreement to buy a bond with a resell agreement the borrowing
requirement will not be affected. We make forecasts of the repo transactions on
the basis of the information we receive from the government agencies. However,
the forecast are very uncertain since the government agencies may alter their
plans on a short notice.
[HUG#1459143]
Table of central government net borrowing requirement and debt:
http://hugin.info/133745/R/1459143/398650.pdf
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Source: Riksgälden via Thomson Reuters ONE
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Datum: 05.11.2010 - 09:30 Uhr
Sprache: Deutsch
News-ID 48475
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