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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2009.11.0603:55:00UTC+00Swedish Oct Budget Balance Turns To Deficit From Last Year

Swedish central government payments resulted in a deficit of SEK 19.6 billion in October, reversing from a surplus of SEK 163 million last year, the Debt Office said Friday. The deficit in October was more than the the Debt Office's forecast of a SEK 14.3 billion deficit.

The difference is explained by displacements of payments between months within the Debt Office's net lending and will thus not affect the annual outcome, the official report said.

The Debt Office's net lending was SEK 9 billion higher than calculated. The main explanation is on-lending to the Riksbank of SEK 5 billion. This on-lending is temporary and is due to refinancing of maturing loans. The new loans that the Debt Office has taken on behalf of the Riksbank do not have the same payment dates as the maturing loans. Since the payments are carried out on different months this will have the opposite effect in November. Also other differences within the Debt Office's net lending are mainly of temporary nature. Disbursements from authorities were SEK 4 billion lower than calculated. Tax payments developed in line with forecast. Interest payments on central government debt were SEK 1.6 billion, which is SEK 0.1 billion lower than calculated. For the twelve-month period up to the end of October, central government payments resulted in a deficit of SEK 178 billion. Central government debt amounted to SEK 1,110 billion at the end of October.

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