Wednesday, 18 May 2011
The Swedish debt Office now expects the government’s surplus in the state budget in 2011 to be in the region of Skr 99 billion, an increase of Skr81 billion compared with the previous forecast.
"Much of the improvement, Skr38 billion, is attributed attributable to the sale of shareholdings in government companies such as Nordea, also in Telia Sonera," the Debt Office said in a statement.
Increased tax revenues, and the fact that government spending is increasing at a moderate pace, are other reasons for why the forecast is to be written up.
Next year, the state surplus is expected to fall to Skr68 billion, a decline of Skr10 billion compared with the previous forecast.
"We assume that a portion of sales revenue is already in by 2011 and they will thus be Skr10 billion lower in 2012 than we expected in November," said the Debt Office.
Government borrowing is expected to decrease compared with the previous forecast.
"Even if we prioritize funding in nominal government bonds, we will reduce the emission volume by Skr8 and Skr16 billion during 2011 and 2012," said the Debt Office.
The Swedish central government debt is estimated to be at Skr1048 billion at the end of 2011 and Skr981 billion at the end of 2012, representing 30 and 27 percent of Sweden's gross domestic product (GDP).
By Scancomark.se Team