Sweden boasts hefty budget surplus for 2011
Published: 10 Jan 12 13:35 CET | Print version
Online: http://www.thelocal.se/38424/20120110/
Sweden’s national debt office (Riksgälden) stated on Tuesday that the country’s budget surplus from 2011 stood at 68 billion kronor ($9.85 billion).
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While Sweden, with its heavily export reliant economy was hard-hit during the 2008-2009 financial crisis, its recovery "continued to be strong in 2011, which generated higher tax income," the office said.
The debt office pointed out that the government during the year had also sold off shares worth 23 billion kronor in the Nordic region's biggest bank, Nordea, and in Swedish-Finnish telecom giant Telia Sonera.
Sweden's central government debt meanwhile stood at 1,108 billion kronor at the end of 2011, which corresponds to 32 percent of the non-euro-member's gross domestic product (GDP), far below the 60-percent level allowed within the eurozone.
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