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Treasury finances January 2006

Report date: March 2, 2006.

3/3/06

In pdf-format: Treasury finances January 2006 (PDF 52K)

Cash Flow Statement January 2006

(In millions of krónur)

2001

2002

2003

2004

2005

Revenue............................................................

18,622

19,202

24,204

29,894

41,132

Expenditure.......................................................

17,874

19,485

24,737

25,338

25,508

Current balance................................................

748

-283

-533

4,556

15,624

Receipts from sale of fixed assets. ...................

-15

-

-672

-

-

Other cash payments / receipts.........................

-1,275

-3,359

-590

-1,901

-1,698

Cash Flows from operations...........................

-542

-3.642

-1,795

2,655

13,926

Financial transactions.....................................

389

644

204

3,219

-1,077

Net financial balance......................................

-153

-2,998

-1,591

5,874

12,849

Debt redemption..............................................

-389

-324

-17

-11,135

-4,049

   Domestic........................................................

-389

-324

-17

-2,142

-4,049

   Foreign.........................................................

-

-

-

-8,994

-

Pension fund prepayments.............................

-750

-625

-625

-

-330

Gross borrowing requirement........................

-1,292

-3,947

-2,233

-5,261

8,470

New borrowing.................................................

4,400

5,964

7,674

5,563

1,532

   Domestic.........................................................

4,418

5,979

8,012

-3,431

1,532

   Foreign............................................................

-15

-14

-338

8,994

-

Overall cash balance.......................................

3,107

2,017

5,442

302

10,002

 

Treasury finances, January 2006

 

In millions of krónur

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social contributions...

22,026

28,367

39,043

 

20.9    

  28.8    

 37.6    

  Taxes on income and profit...............

12,199

16,492

25,445

 

8.7    

  35.2    

 54.3    

     Personal income tax..........................

6,149

7,247

7,766

 

1.3

17.9

7.2

     Corporate income tax........................

319

397

4,143

 

-

-

-

     Other taxes on income and profit......

5,731

8,848

13,535

 

10.8

54.4

53.0

  Taxes on property ............................

454

729

810

 

3.7

60.7

11.2

  Taxes on goods and services..........

7,065

8,164

9,324

 

43.8

15.6

14.2

     Value added tax...............................

4,387

4,908

5,370

 

76.1

11.9

9.4

     Excise tax on motor vehicles............

318

607

732

 

58.2

90.9

20.6

     Excise tax on petrol..........................

782

818

834

 

53.3

4.6

2.0

     Excise on oil ....................................

187

236

452

 

-24.3

26.2

91.6

     Tobacco and liquor taxes.................

813

793

830

 

-0.7

-2.5

4.6

     Other taxes on goods and services..

580

802

1,106

 

-10.3

38.3

37.9

  Taxes on international trade and transactions .......................................

266

236

295

 

20.1

-11.2

24.8

  Other taxes.......................................

31

41

57

 

 552.8

  34.0    

 39.2    

  Social contributions .......................

2,012

2,705

3,111

 

42.5

34.4

15.0

Grants ................................................

3

54

38

 

 -

 -

 -

Other revenue....................................

1,513

1,473

2,037

 

 -

 -

 -

Saleof assets ...................................

0

0

14

 

 -

 -

 -

Total Revenue....................................

23,543

29,894

41,132

 

  22.6    

  27.0    

 37.6    



 

 

Treasury finances, January 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Administration................................

2,534

2,760

2,940

 

46.2

8.9

6.5

General administration.....................

1,434

1,642

1,755

 

31.4

14.5

6.9

Justice and law enforcement............

1,100

1,118

1,186

 

71.3

1.6

6.1

Social affairs...................................

17,010

16,737

18,429

 

36.2

-1.6

10.1

Of which:

 

 

 

 

 

 

 

          Education and culture.............

4,974

5,399

5,939

 

67.6

8.5

10.0

          Health.....................................

5,986

6,451

7,174

 

37.4

7.8

11.2

          Social security........................

5,274

4,107

4,386

 

14.3

-22.1

6.8

Economic affairs.............................

3,289

2,639

2,572

 

49.2

-19.8

-2.5

Of which:

 

 

 

 

 

 

 

          Acriculture....................

1,486

793

798

 

84.0

-46.6

0.6

          Communicatons......................

1,176

1,199

1,026

 

39.6

2.0

-14.5

Interest expenditure.......................

909

2,190

512

 

-45.9

141.0

-76.6

Other exenditure.............................

995

1,012

1,056

 

-27.8

1.7

4.3

Total expentiture.............................

24,737

25,338

25,508

 

27.0

2.4

0.7



 

Note:

Revised revenue classification of the Treasury: The classification of Treasury revenue has been revised according to the IMF Government Finance Statistics Manual of 2001. The earlier classification was based on an earlier version of the Manual. The new classification was first published last autumn in the 2004 Treasury accounts and introduced in the 2006 fiscal budget. It is now applied in the monthly revenue statements of the Treasury.

The main changes from the previous classification is that social contributions are separated from tax revenue and classified under a new main heading"Taxes and social contributions". Taxes on international trade and transactions, such as customs duties and other import charges, are now shown separately and are no longer under the heading "Taxes on goods and services". Regarding the other revenue, the new classification provides more details than the earlier version. The new classification also calls for a revision of several other items, such as the tax for the Elderly's Construction Fund and several user and licence charges.