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Central government payments in September gave a surplus of SEK 54.0 billion. The surplus was thus SEK 5.5 billion lower than the Debt Office's latest forecast.

The deviation is mainly explained by tax reimbursements being SEK 4.5 billion higher than calculated.

Interest payments on central government debt were SEK 0.2 billion, which was in line with our forecast.

For the twelve-month period, October 2007 to September 2008, the surplus amounted to SEK 183 billion. The central government debt amounted to SEK 1 086 billion at the end of September.

Despite the large surplus, the government debt increased in September. This is because the Debt Office has borrowed SEK 93 billion extra, by selling T-bills. This has been done in order to ease the shortage of T-bills which has arisen because of the market turbulence. The money from the extra auctions has been placed in reverse repos in covered mortgage bonds. This means that we deposit money, with mortgage bonds as security. Since assets and debts are recorded separately, the government debt is temporarily larger than it otherwise would be.

The outcome for October 2008 will be published at 9.30 am on 7 November 2008.

Further information can be obtained from: Håkan Carlsson, phone +46 8 613 47 33



LINK: http://hugin.info/133745/R/1257220/274359.pdf

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