The Swedish central government borrowing requirement in May was SEK -50.4 billion, i.e. a surplus. This is the largest surplus for a single month since the year 2000. This is because the government received SEK 18 billion from sale of shares in TeliaSonera. In addition most of the companies with state ownership paid in their dividends in May.
The Debt Office's revised forecast for May was SEK -56.9 billion. Thus the borrowing requirement was 6.5 billion higher than expected (i.e. the surplus was lower). The deviation is primarily due to the dividend from the Riksbank, which was brought forward to April. In addition interest payments on central government debt were SEK 9.7 billion. This is SEK 2.4 billion higher than expected. This is mainly explained by larger capital losses in connection with switch auctions
The borrowing requirement for the twelve-month period up to the end of May was SEK -84 billion (i.e. a surplus). The government debt was SEK 1,193 billion at the end of May. Despite the large surplus, the government debt increased marginally in May. This is because the Debt Office has made short term investments, which will be used to pay off maturing loans as soon as it is possible. Since assets and debts are recorded separately, the government debt is temporarily larger than it otherwise would be.
The outcome of the central government borrowing requirement for June will be published at 9.30 am on 6 July 2007. New revised forecasts for 2007 and 2008 will be published on 18 June 2007.
Further information can be obtained from:
Håkan Carlsson, phone +46 8 613 47 33
