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Surplus for Swedish central government in January 2021

Riksgälden
·2 min read

Surplus for Swedish central government in January 2021

Swedish central government payments resulted in a surplus of SEK 7.7 billion in January. The Debt Office's forecast was a deficit of SEK 10.6 billion.

The primary balance was SEK 15.8 billion higher than forecasted. Tax income were approximately SEK 9 billion higher than calculated. This is partly due to higher payments than expected from municipalities to the central government in the 2019 settlement of municipal tax payments. The settlement is made between municipalities and the central government in January each year and is a final calculation of municipal tax. In addition, payments from a number of agencies, for example the universities and the Swedish National Agency for Education, were lower than expected.

The Debt Office’s net lending to government agencies etc. were SEK 1.4 billion lower than forecasted.

Interest payments on central government debt were were SEK 1.1 billion lower than calculated.

For the twelve-month period up to the end of January 2021, central government payments resulted in a deficit of SEK 209.8 billion.

Central government debt amounted to SEK 1 270 billion at the end of January.

New forecasts for 2021 and 2022 will be published on 24 February at 9.30 a.m.

The outcome for February 2021 will be published on 5 March at 9.30 a.m.

Contact

Press Secretary, +46 (0)8 613 47 01

Budget balance and central government net borrowing requirement1
(SEK million)

Outcome January

Forecast January

Deviation January

Acc. Dev2

Outcome 12-month

Budget balance

7 731

-10 593

18 324

53 863

-209 834

Net borrowing requirement1

-7 731

10 593

-18 324

-53 863

209 834

Primary balance3

-2 570

13 243

-15 813

-48 109

163 972

Net lending to agencies etc.4

-2 955

-1 508

-1 447

-3 427

27 511

Interest payments on central government debt

-2 207

-1 143

-1 064

-2 327

18 352

- Interest on loans in SEK

-2 048

-1 289

-759

-1 139

17 045

- Interest on loans in foreign currency

-45

-64

19

-133

-943

- Realised currency gains and losses

-114

210

-324

-1 055

2 250

1 The net borrowing requirement corresponds to the budget balance with opposite sign.

2 Sum of monthly forecast deviations since last forecast (October 2020).

3 Net of the state's primary expenditure and income.

4 The net of government agencies etc. deposits and loans in the state’s internal bank. The net lending includes both current government operations and temporary occurrences which can be decided on short notice. The net lending affects the net borrowing requirement and central government debt, but are not covered by the Central government expenditure ceiling.

More data on the borrowing requirement and government debt: https://www.riksgalden.se/en/statistics/statistics-on-central-government-borrowing/

The monthly outcome of the central government net borrowing requirement is included in the official statistics of Sweden.

The Debt Office published their latest prognosis on the Swedish economy and central government borrowing on 21 October

Attachment


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CNS plans to start the mid-stage trial in 1Q21. Based on the potential of the company’s asset in glioblastoma, and with its share price at $2.22, several analysts believe that now is the time to buy. Among the bulls is Brookline’s 5-star analyst Kumaraguru Raja who takes a bullish stance on CNSP shares. “Until now, the inability of anthracyclines to cross the blood brain barrier prevented its use for treatment of brain cancers. Berubicin is the first anthracycline to cross the blood-brain barrier in adults and access brain tumors… Berubicin has promising clinical data in a Phase 1 trial in recurrent glioblastoma (rGBM) and has Orphan drug designation for treatment of malignant gliomas from the FDA. We model approval of Berubicin for treatment of recurrent glioblastoma in 2025 based on the Phase 2 data with 55% probability of success for approval. We model peak sales of $533 million in 2032,” Raja opined. “CNS pipeline also includes WP1244 (novel DNA binding agent) that is 500x more potent than daunorubicin in inhibiting tumor cell proliferation is expected to enter the clinic in 2021… In vivo testing in orthotopic models of brain cancer showed high uptake of WP1244 by brain and subsequent antitumor activity,” the analyst added. To this end, Raja rates CNSP a Buy, and his $10 price target implies room for a stunning 350% upside potential in the next 12 months. (To watch Raja’s track record, click here) What does the rest of the Street have to say? 3 Buys and 1 Hold add up to a Strong Buy consensus rating. Given the $8.33 average price target, shares could climb ~275% in the year ahead. (See CNSP stock analysis on TipRanks) aTyr Pharma (LIFE) The next stock we’re looking at, aTyr Pharma, has a focus on inflammatory disease. Its leading drug candidate, ATYR1923, is a Neuropilin-2 (NRP2) agonist, working through the receptor proteins expressed by the NRP2 gene. These pathways are important for cardiovascular development and disease, and play a role in the inflammatory lung disease pulmonary sarcoidosis. In December, the company reported that the drug candidate had completed enrollment of 36 patients in a Phase 1b/2a clinical trial, testing the drug in the treatment of pulmonary sarcoidosis. Results of the current study are expected in 3Q21, and will inform further trials of ATYR1923, including against other forms of inflammatory lung disease. On a more immediate note, in early January the company announced top-line results of another Phase 2 clinical involving ATRY1923 – this time in the treatment of patients hospitalized with severe respiratory complications from COVID-19. The results were positive, showing that a single dose of ATYR1923 (at 3 mg/kg) resulted in a 5.5-day median recovery time. Overall, of the patients dosed in this manner, 83% saw recovery in less than one week. Covering LIFE for Roth Capital, 5-star analyst Zegbeh Jallah noted, “We like the risk profile here, with two shots on goal, and updated data details from the COVID study is expected in the coming months. Also announced recently, is that data from aTyr's Pulmonary Sarcoidosis program, will be reported in 3Q21… the success of either of these studies could result in a doubling or more of the market cap as these opportunities appear to barely be accounted for by investors.” In line with his optimistic approach, Jallah gives LIFE shares a Buy rating and his $15 price target suggests an impressive 277% potential upside for the coming year. (To watch Jallah’s track record, click here) Other analysts are on the same page. With 2 additional Buy ratings, the word on the Street is that LIFE is a Strong Buy. On top of this, the average price target is $13.33, suggesting robust growth of ~236% from the current price of $3.97. (See LIFE stock analysis on TipRanks) To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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  • Keystone XL’s Collapse Leaves Canada’s Oil Heartland Seeking Payback

    (Bloomberg) -- The oil-rich Canadian province that was hit hard by Joe Biden’s move to kill the Keystone XL pipeline is considering seeking compensation from the U.S. through an old free-trade rule that’s still in place.Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade Agreement provision allowing compensation claims for lost investments, Alberta Premier Jason Kenney said. While Nafta was replaced by the United States-Mexico-Canada Agreement during the Trump administration, the rule remains in place during a phase-out period.To “retroactively remove regulatory approval on the basis of which an investment was made is, in my view, a slam dunk case of a claim for damages through Nafta under the investor protection provisions,” Kenney said on a Facebook live Tuesday. “We believe we have a very strong case for damages, and we’ll be continuing to work with TC Energy on that.”The pipeline cancellation dealt another blow to an oil-dependent province that was already reeling from two crude-market crashes since 2014. TC Energy Corp.’s Keystone XL would ship more than 800,000 barrels a day of crude from Alberta’s oil sands to U.S. refineries.The project’s demise prompted TC Energy to let go of about 1,000 union workers on both sides of the border.Biden’s Keystone XL Cutoff Shocks Town Where Population DoubledAfter the U.S. president’s decision on his first day in office, Kenney said that Alberta would consider legal action and urged Canadian Prime Minister Justin Trudeau to impose trade sanctions if the Biden administration didn’t negotiate.In 2016, TC Energy sought $15 billion in compensation under Nafta after President Barack Obama rejected the project the previous year on environmental grounds, but the case was dropped after President Donald Trump approved the project early in his term.(Adds premier Kenney’s comments in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Why Plug Power Is Rising For Fourth Straight Session

    Plug Power Inc (NASDAQ: PLUG) shares have been on roll this week and are gaining for the fourth consecutive session. Plug Power Shares Northward Bound: Plug Power stock, which began to lose some momentum after it hit an all-time high of $75.49 on Jan. 26, has got its mojo back. After settling the week ended Jan. 29 down about 5.5% at $63.17, the stock started the running week on a firm note. The stock gained a little over 1% Monday and a more modest 0.6% Tuesday. The rally picked up steam Wednesday, with the hydrogen fuel cell energy company adding about 5% in the session. The stock is higher yet again Thursday. The Drivers Behind the Rally: In general, green energy stocks are in favor amid the thrust to move away from non-renewable, pollution-causing fossil fuels. The change of guard at White House, which is pro-green energy only added to the enthusiasm. Related Link: Why Plug Power's Lead In Fuel Cell, Hydrogen Space Could Create 'Outsized Winner' In company-specific news, Plug Power is planning to build a green hydrogen plant in New York's Genesee County, Buffalo News reported Wednesday. The plant will supply to freight transportation and materials handling equipment, the report said. Construction is set to start in March and is expected to be completed by December 2022. The report also said the Western New York Power Proceeds Allocation Board has recommended awarding $1.5 million to support Plug Power's project. Some of the buoyancy in the stock Wednesday may also have to do with Bernstein initiating coverage of Plug Power shares with an Outperform rating and $75 price target. Wall Street analysts, on average, have a Strong Buy rating on Plug Power shares. The average 12-month price target for the shares is $65.65, which incidentally suggests downside from current levels. PLUG Price Action: At last check, Plug Power shares were up 1.37% at $68.30. Related Link: Plug Power CEO Nets .4M In Planned Sale Of Hydrogen Fuel Cell Company's Stock See more from BenzingaClick here for options trades from BenzingaPlug Power Shares Pull Back: What Investors Need To KnowPlug Power Resumes Rally After Raising 2021 Gross Billings Guidance© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.