Skip to main content

Deficit for Swedish central government in April 2020

Written by Customer Service on . Posted in Public Companies.

Swedish central government payments resulted in a deficit of SEK 38.9 billion in April. The Debt Office’s forecast was a deficit of SEK 6.8 billion. The deviation is mainly due to lower tax income than expected and payments for short-time work allowances. The deficit was counterbalanced by a repayment of loans amounting to SEK 17.7 billion by the Riksbank.
The primary balance was SEK 49.5 billion lower than expected. Tax income was approximately SEK 25 billion lower than forecasted. Tax income was in particular lower from companies and payroll taxes. At the same time, payments from the tax accounts were SEK 15 billion higher than anticipated. The payments from the Swedish Agency for Economic and Regional Growth were SEK 16 billion higher than forecasted as a result of the agency’s responsibility for processing the allowances for short-time work. In addition, the payments from some other agencies such as the Legal, Financial and Administrative Services Agency and the Swedish Transport Administration were slightly higher than forecasted.The Debt Office’s net lending to government agencies etc. were SEK 17.7 billion lower than calculated. This was due to a repayment of loans in foreign currency by the Riksbank. The loans matured in April but were refinanced in March. Thus, it is a question of a redistribution of net lending between March and AprilInterest payments on central government debt were SEK 0.3 billion higher than forecasted.For the twelve-month period up to the end of April 2020, central government payments resulted in a surplus of SEK 27.6 billion.Central government debt amounted to SEK 1,148 billion at the end of April.The outcome for May 2020 will be published on 5 June at 9.30 a.m.The virus outbreak will lead to large deficits during the forecast period, 2020-2021The outbreak of covid-19 will have serious consequences for economic development both in Sweden and the rest of the world. A number of different economic measures have been taken to mitigate the effects. Income for companies and employees will be lower than previous forecasted as a result of the economic downturn. Expenditure is also expected to increase in addition to the economic measures presented.The Debt Office intends to return on 19 May with an overall assessment of the economic development, forecasts of the central government budget balance and borrowing in the report “Central Government Borrowing – Forecast and Analysis 2020:2”.ContactPress Secretary, +46 (0)8 613 47 01More data on the borrowing requirement and government debt:https://www.riksgalden.se/en/statistics/statistics-on-central-government-borrowing/The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.AttachmentSweden’s Central Government Debt April 2020

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.