Net lending/borrowing for local government for 2009 has been corrected compared to published figures on 1 March. The corrected figures show that net lending/borrowing amounted to SEK -2.2 billion. The incorrect figure which was earlier published amounted to SEK +2.4 billion. This error does not affect GDP for the 4th quarter of 2009 or the annual figure for 2009.
Net lending/borrowing regarding local government for 2009 has been corrected compared to published figures from 1 March. This is due to an error discovered in calculations concerning revenue from transfers to the municipalities. In the calculation for total transfers, a deduction has not been made for the regulation fee within the financial equalisation system for municipalities. The correction has also affected non-financial corporations in the reconciliation process between sectors. Transfers from corporations to the municipalities were overestimated which has, in turn, resulted in an overestimation of net lending/borrowing for the local government sector.
In total, the consolidated public sector’s net lending/borrowing for 2009 amounted to SEK -24.5 billion. This means a decrease of SEK 102.3 billion compared to 2008. Net lending/borrowing for the central government (inclusive of the social insurance sector) amounted to SEK -22.4 billion and the SEK -2.2 billion for local government. The incorrect figure which was earlier published was SEK +2.4 billion. Net lending/borrowing for non-financial corporations was SEK -45 billion for 2009 which was a reduction of SEK 41 billion compared to 2008. Net lending/borrowing for the public sector amounted to -0.8 percent of GDP compared to the incorrectly and earlier published figure of -0.7 percent.
Please note that this error does not affect GDP for the 4th quarter of 2009 or the annual figure for 2009.
The tables concerned have been corrected on the website for Statistics Sweden.