The primary borrowing requirement (all central government payments excluding interest payments) was SEK 14.7 billion, which is SEK 15.5 billion less than estimated. The main explanations are that the contribution to the EU was SEK 5 billion lower than estimated and that net tax revenue was SEK 6 billion larger. Payments on support for the agricultural sector was also lower than calculated, since part of the payments were made already in December 2005.
The lower contribution to the EU is to a large extent a matter of displacement between months. The contribution for February will be more than SEK 3 billion larger than our previous calculation. The larger tax revenue mainly consists of corporate income tax.
Interest payments on central government debt were in line with forecast.
The borrowing requirement for the twelve-month period up to the end of January was SEK -22.3 billion. Government debt was SEK 1,303 billion at the end of January.
The outcome of the central government borrowing requirement for February will be published at 9.30 am on March 7, 2006. A revised forecast for 2006 and an initial forecast for 2007 will be published at 9.30 am on March 1.
Correction of the borrowing requirement for 2005
While finishing the annual accounts for 2005 the Debt Office has made corrections of the accounting which affects the borrowing requirement and the central government debt for 2005. The previously published borrowing requirement for 2005 was SEK -12.6 billion (a surplus). The corrected outcome of the borrowing requirement for 2005 is SEK -14.1 billion (a larger surplus of SEK 1.5 billion).
The corrected central government debt at the end of 2005 was SEK 1308.6 billion. A new table with the outcome for the borrowing requirement and the government debt for December 2005 and for the entire year 2005 is presented below.
Further information can be obtained from:
Tord Arvidsson, tel +46 8 613 47 53
Håkan Carlsson, tel +46 8 613 47 33
