Sweden to post larger-than-expected deficit in 2009 - watchdog.
NORDIC BUSINESS REPORT-1 September 2009-Sweden to post larger-than-expected deficit in 2009 - watchdog(C)1994-2009 M2 COMMUNICATIONS http://www.m2.com
1 September 2009 - Sweden's financial management body ESV increased today its forecast for the country's budget deficit for 2009 to SEK200.8bn from the previous estimate for SEK159.8bn, provided in May.
Most of the expected deficit is due to the government's efforts to aid the financial system, ESV said in its latest forecast, issued on Tuesday.
ESV estimates that the economic situation is still weak although it has improved somewhat since the previous forecast was published, which has led to an upgrade of the estimates for the state's taxation revenue. Nevertheless, the watchdog still expects deficit in the budget for the whole period 2009-2012.
The deficit is now seen at SEK69.7bn in 2010, at SEK30.4bn in 2011 and at SEK12bn in 2012. The non-recurring costs are expected to amount to SEK124.6bn in 2009, and to SEK300m in 2010 and 2011 each. For 2012, positive one-off items of SEK1bn are expected.
In May 2009, ESV forecast a deficit of SEK98.7bn in 2010, of SEK68.9bn in 2011 and of SEK50.3bn in 2012.
(EUR1 = SEK10.2)
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|Title Annotation:||Financial Management Authority|
|Publication:||Nordic Business Report|
|Article Type:||Brief article|
|Date:||Sep 1, 2009|
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