Surplus for Swedish central government in August
(Thomson Reuters ONE) -
Swedish central government payments resulted in a surplus of SEK 26.9 billion in
August, to be compared with the Debt Office's forecast of SEK 20.6 billion. The
difference is mainly due to larger tax income.
Tax income was SEK 4 billion higher than calculated, mainly explained by higher
supplementary tax payments.
The Debt Office's net lending to government agencies was SEK 0.3 billion higher
than forecast.
Interest payments on central government debt were SEK 0.6 billion lower than
calculated.
For the twelve-month period up to the end of August 2016, central government
payments resulted in a surplus of SEK 61.8 billion.
Central government debt amounted to SEK 1,366 billion at the end of August.
Accumulative forecast deviation June-August
The accumulated forecast deviation since the previous forecast in June amounts
to SEK 13 billion. Of this SEK 9 billion is due to higher tax income. The
preliminary debited taxes on wages, consumption and corporate profits have
developed approximately as calculated. Virtually all of the deviation can
instead be explained by higher supplementary tax payments.
The first preliminary tax statements for 2015 indicate an outcome that is well
in line with the Debt Office's forecast. This means that it is not likely that
the larger supplementary tax payments are related to taxes for the previous
year. The Debt Office's interpretation is instead that it largely concerns the
current deposit interest rate on tax accounts, which creates incentives to pay
taxes earlier than otherwise. There are no restrictions on how large deposits
that may be made, which means that tax accounts are also used as a form of
savings. Therefore the outcome for tax income becomes difficult to interpret. It
is uncertain if or when the funds in the tax accounts will be debited.
The outcome for September will be published on 7 October at 9.30 a.m. On 26
October the Debt Office will publish new forecasts for the Swedish economy, the
budget balance and government borrowing.
Contact
Tord Arvidsson, Senior Analyst, +46 (0)8 613 47 53
Robert Sennerdal, Press Secretary, +46 (0)8 613 46 94
+------------------------------------------------------------------------------+
|Central government net borrowing requirement(1) (SEK million) |
+----------------+-------------------------------------------------------------+
| | Outcome Forecast Deviation Acc. Outcome 12-|
| | August August August Dev(2) month|
| | |
|Net borrowing | -26 874 -20 633 -6 241 -13 467 -61 746|
|requirement | |
| | |
|Primary | |
|borrowing | |
|requirement | -24 010 -18 078 -5 932 -13 539 -69 261|
|excl. net | |
|lending(3) | |
| | |
|Net lending to | -3 232 -3 542 310 796 -1 264|
|agencies etc. | |
| | |
|Interest | |
|payments on | 368 987 -619 -724 8 779|
|central | |
|government debt | |
+----------------+-------------------------------------------------------------+
| - Interest on | 189 910 -721 -878 9 330|
|loans in SEK | |
| | |
| - Interest on | |
|loans in foreign| 137 -1 138 186 448|
|currency | |
| | |
| - Realised | |
|currency gains | 42 78 -36 -31 -1 000|
|and losses | |
+----------------+-------------------------------------------------------------+
(1) The net borrowing requirement corresponds to the budget balance with
opposite sign.
(2) Sum of monthly forecast deviations since latest forecast (June 2016).
(3) Net of the state's primary expenditure and income excluding
net lending to agencies.
More data on the borrowing requirement and government debt:
https://www.riksgalden.se/en/For-investors/Borrowing-and-the-government-debt/
The monthly outcome of the central government net borrowing requirement is
included in the official statistics of Sweden.
Sweden's central government debt August 2016:
http://hugin.info/133745/R/2040320/761079.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Riksgälden via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.09.2016 - 09:30 Uhr
Sprache: Deutsch
News-ID 493108
Anzahl Zeichen: 6519
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Surplus for Swedish central government in August"
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