Sweden’s budget surplus for November came in well above the official forecast, largely helped by higher tax income, the Swedish National Debt Office said Monday.
Central government payments resulted in a surplus of SEK 21.8 billion, while the agency’s forecast was a surplus of SEK 14.6 billion. Tax income was approximately SEK 5 billion higher than forecast, while disbursements from a few state agencies were somewhat lower than estimated, the SNDO said.
The government’s tax income has been higher than forecast for two consecutive months, the agency noted, which suggests that the tax income for the full year could also be higher than forecast.
However, the SNDO said this will be offset by the fact that expenditure is also expected to be higher, primarily due to additional government grants to municipalities as a result of the refugee crisis.
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