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Sweden budget to log deficit in 2017

Staff Writer | October 27, 2016
Sweden's budget balance is set to turn into a deficit next year, the latest forecast from the Swedish National Debt Office revealed.
North of Europe   The deficit for 2017 was SEK10 billion lower
According to the forecast, the central government budget balance will show a deficit of SEK 33 billion compared to a surplus of SEK 80 billion estimated for 2016.

The surplus for 2016 was just under SEK 40 billion larger than the Debt Office's previous forecast in June. The deficit for 2017 was SEK10 billion lower than in the previous estimate.

The main driver behind the surplus this year was excess deposits in tax accounts and total borrowing was lower than in the previous projection.

The borrowing in government bonds will be SEK 81 billion this year and SEK 66 billion next year, the agency said.

The office forecast points to a GDP growth of 3.3 percent this year, 1.9 percent next year and 1.8 percent in 2018.