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Swedish Govt Posts SEK84.8 Bln December Payment Deficit

STOCKHOLM (Dow Jones)--Swedish government payments in December showed a deficit of 84.8 billion Swedish kronor ($13.3 billion), the Swedish National Debt Office said Wednesday.

The SNDO said the deficit was SEK12 billion greater than expected and that the December figure was the largest deficit ever in a single month.

"The deficit in December is partly due to the Premium Pension Authority's annual payment of premium pension rights, repo transactions by agencies, large interest payments on central government debt and payment of tax refunds," it explained.

There was also lower tax revenue than expected, SNDO said.

In November, the government posted a SEK18.6 billion surplus.

The debt office said for the full-year 2007, the Swedish government had a SEK103 billion surplus. That's an increase of SEK85 billion from 2006.

"This change is mainly due to sales income, large share dividends and a restrained development of expenditure. Moreover, there was a sharp decrease in the debt office's net lending to government agencies," it said in regard to the 2007 surplus.

"Moreover, there was a sharp decrease in the debt office's net lending to government agencies. The central government debt decreased SEK102 billion to SEK1.17 trillion at the turn of the year," SNDO said.