Sweden - Government Budget Balance





Sweden: Government Budget Balance

Mnemonic GVBAL.ISWE
Unit Mil. SEK
Annual 475.1 %
Data 2013 -143,240
2012 -24,907

Series Information

Source Statistics Sweden
Release Central Government Finance
Frequency Annual
Start Date 12/31/1992
End Date 12/31/2013

Sweden: Government

Reference Last Previous Units Frequency
Government Budget Balance 2013 -143,240 -24,907 Mil. SEK Annual
Government Expenditures 2013 928,027 812,480 Mil. SEK Annual
Government Revenues 2013 784,787 787,573 Mil. SEK Annual

Release Information

Institutional coverage of general government in reported data: General government sector consists of central government, local governments and social security funds. Central Government sector includes the riksdag (parliament), administrative departments and authorities. Local government comprises all municipalities and county councils. Social security funds sector consists of the National Pension Insurance Funds (AP funds) and the Premium Pension Authority.

Concepts and definitions

  • Analytical framework: The General Government data are based on the methodology of the European System of Accounts 1995 (ESA 95) and the System of National Accounts 1993 (SNA 93)
  • Relationship with international guidelines: The total revenue and expenditure are built by transactions as defined in ESA 95/ SNA 93. The financial transactions are defined as the change in balance sheet value between year t and t-1, adjusted for changes in the financial balances that are not due to financial transactions, i.e. revaluations and other changes in volume.
    The underlying concepts of the deficit/surplus and financing are the net borrowing/net lending and the balance of financial transactions, respectively, of the European System of Accounts (ESA 95). These two aggregates rarely coincide, due to the fact that they are measured from different sources. In this case, ESA 95, as in the case with SNA 93, provides for a statistical adjustment equal to the difference between net borrowing/net lending and the balance of financial transactions.

Classification/sectorization

  • Classification: The revenue and expenditure as well as the financial transactions are broken down on institutional sectors as defined in ESA95. Total expenditures is broken down by function in accordance with COFOG (Classification of the functions of government). The financial accounts data shows outstanding balance sheet values and financial transactions for the different sectors. The data is broken down with regard to the different financial instruments and sectors defined in ESA95, and the data also contains counterpart information shown as a whom-to-whom perspective.

Valuation

  • Accounting basis: Revenue and expenditure transactions are valued at market values and on accrual basis as recommended in ESA95. Financial transactions are treated differently for the sub-sectors. Central government transactions are recorded at market values and includes accrued interest. Local government accounts are on cash basis and at book values (acquisition values) except for shares and other equity and mutual fund shares, which are recorded at market values. For social security funds sector, both outstanding balances and transactions at market values and includes accrued interests.

Grossing/netting procedures

  • Consolidation: The data are not consolidated (that is, transactions between the various government units are not eliminated from the data). However, sufficient information is published to enable the user to derive consolidated data.
  • Unrequited transfers within general government except taxes, social security contributions, interest and dividends are consolidated in the revenue and expenditure account for general government. Similarly, transfers within central government are consolidated in the central government account and transfers within local government are consolidated in the local government account, but transfers between the two sectors are not consolidated in these accounts. Consolidation is achieved by combining the data from all units and accounts involved.
  • Where we only have information on stock values, transactions are calculated as the change in stock value between the present and the previous quarter (for the quarterly accounts) and between the present and previous year (for the annual accounts). This is the case for the local government sector, and in some cases for central government sector. For central government debt though, as well as all information on social security funds sector, we have either both stock and transaction values, or we derive transactions from book values and interest- and currency revaluations.

Annual data are preliminary at the time of release. When the following year is published, the previous year becomes definitive.