Focus on the growth agenda

Today, the Ministry of Finance publishes the Economic Survey, August 2010, with the following assessment of the economic outlook until 2011:


Budget Outlook, August 2010

The central government budget proposal for 2011 is presented today. The proposal reflects the Fiscal Consolidation Agreement from May 2010. The agreement includes expenditure cuts, higher taxes and a labour market reform. The agreement consolidates general government finances by approx. DKK 24bn in 2011-2013.


Budget Outlook, May 2010

The final account for the central government in 2009 reflects a deficit on the CIL-account of DKK 29¾bn (1.8 per cent of GDP) in 2009, and in 2010 a deficit of DKK 99½bn (5.8 per cent of GDP) is expected. In 2009 and 2010 deficits on the net balance are estimated at DKK 110bn and DKK 102¾bn respectively.


Budget Outlook, December 2009

Due to the weakened cyclical conditions and discretionary fiscal policy initiated to support growth and employment a significant deterioration of the public finances is expected. The large general government surpluses in the latter years are thus expected to be followed by deficits.


The Social Pension Fund (SPF) invests in listed bonds

Seeing that the central-government carries the interest rate risk on the financing of the subsidised housing that receives governmental debt service support, it is the intention to cover this risk in connection with the auctions of adjustable-rate mortgage bonds in December.


Economic Survey, August 2009

The Ministry of Finance has published the August 2009 edition of its Economic Survey. The main points in the survey are: