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Sweden's Feb. Budget Surplus Lower Than Forecast

3/7/2013 3:44 AM ET

Sweden's budget surplus was lower than the National Debt Office's estimate in February, largely due to shifts in payments between February and March, a report from the Debt Office said Thursday.

The central government payments resulted in a surplus of SEK 15.6 billion in February, SEK 10.9 billion lower than the forecast.

Nonetheless, the outcome was better than the January result, when the budget balance showed a deficit of SEK 96.3 billion.

The Debt Office's net lending was SEK 6.1 billion higher than forecast. The Swedish capital contribution of SEK 2.5 billion to the European Investment Bank was also disbursed earlier than calculated.

Since these payments were made earlier than expected, a corresponding deviation in the opposite direction will occur in March, the Debt Office said.

In February, tax income was SEK 2.1 billion lower than forecast. Interest payments on central government debt were SEK 0.4 billion higher than expected. Central government debt amounted to SEK 1,221 billion at the end of the month.

by RTT Staff Writer

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