Swedish government surplus bigger than expected in September

The Swedish National Debt Office (Riksgälden) reports that the country’s central government payments surplus of SEK1.7bn (€185m) for September was higher than expected, fuelled by lower interest payments and net lending.

The surplus is SEK10.5bn higher than the forecast net position.

Tax income and disbursements by central government developed in line with the Debt Office’s forecast. However, interest payments were SEK5.2bn lower than expected.

“This is mainly explained by lower capital losses than forecasted due to lower interest than anticipated for buy-backs of krona inflation-linked bonds,” the Debt Office stated.

Net lending was SEK5.3bn lower than forecast, mainly because of decreased lending to the central bank (Riksbank)

“In September a euro loan of €3bn matured and was replaced with loans amounting to €2bn. Part of the effect of decreased lending of €1bn in September was counteracted by increased lending in July.”

“For the twelve-month period up to the end of September 2011, central government payments resulted in a surplus of SEK49bn. Central government debt amounted to SEK1,024bn (€112bn) at the end of September.”

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