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Sweden March Budget Surplus Tops Forecast

Sweden's central government payments showed a better-than-expected surplus for March, the Swedish National Debt Office said Tuesday.

The net borrowing requirement for March was a negative SEK9.451 billion, implying a surplus. The excess was SEK 1.1 billion bigger than the agency's forecast largely due to lower interest payments on government debt. In the same month last year, there was a shortfall of SEK 2.904 billion.

Central government agencies' payments and net lending developed in line with forecast, the debt office said.

Interest payments dropped to SEK 2.834 billion from SEK 3.714 billion a year ago. The figure was SEK 1.2 billion lower than calculated due to exchange rate gains.

For the 12 months to March, the central government payments resulted in a surplus of SEK 0.4 billion, the agency said. The central government debt totaled SEK 1,071 billion at the end of the month.

by RTTNews Staff Writer

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