STOCKHOLM: Sweden's Debt Office said on Wednesday it expected the government to run a smaller surplus this year than previously expected while an economic slowdown would mean a bigger deficit in 2020.
"The new forecast shows that the budget balance will turn from a surplus of 40 billion Swedish crowns ($4.30 billion) in 2019 to a deficit of SEK 30 billion in 2020," the Debt Office said in a statement.
The Debt Office said the government ran an 80 billion crown surplus in 2018.
It said borrowing in government bonds, linkers and T-bills would be unchanged from the previous forecast, but it would borrow more in foreign currency - 90 billion crowns this year against its previous forecast of 44 billion.
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