News

Treasury finances January-February 2006

Report date: March 30, 2006.

3/30/06

In pdf-format: Treasury_finances January-February 2006 (PDF 50K)

Cash Flow Statement January - February 2006

(In millions of krónur)

2002

2003

2004

2005

2006

Revenue

41,483

44,155

48,732

60,718

72,244

Expenditure

38,173

42,266

44,897

47,897

49,967

Current balance

3,309

1,889

3,836

12,821

22,277

Receipts from sale of fixed assets

-

-425

-

-

-

Other cash payments / receipts

80

659

121

1,117

1,084

Cash Flows from operations

3,389

2,123

3,957

13,938

23,361

Financial transactions

-235

333

-1,335

4,011

-2,469

Net financial balance

3,154

2,456

2,622

17,948

20,892

Debt redemption

-10,688

-4,851

-13,878

-11,215

-8,064

Domestic

-599

-4,851

-22

-2,216

-8,058

   Foreign

-10,088

-

-13,857

-9,000

-6

Pension fund prepayments

-1,500

-1,250

-1,250

-500

-660

Gross borrowing requirement

-9,033

-3,645

-12,506

6,233

12,168

New borrowing

11,185

175

17,571

1,016

1,532

   Domestic

1,062

4,022

3,218

-3,931

1,532

   Foreign

10,123

-3,848

14,353

4,947

-

Overall cash balance

2,152

2,017

5,064

7,249

13,700

 

Treasury finances, January - February 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social contributions

45,704

57,404

68,547

 

11.8

25.6

19.4

  Taxes on income and profit

17,819

22,788

33,228

 

13.2

27.9

45.8

     Personal income tax

10,572

12,086

13,405

 

9.3

14.3

10.9

     Corporate income tax

1,034

1,375

5,966

 

-

-

-

     Other taxes on income and profit

6,213

9,328

13,856

 

9.3

50.1

48.5

  Taxes on property

1,580

2,380

2,016

 

24.3

50.7

-15.3

  Taxes on goods and services

21,710

26,638

26,973

 

9.8

22.7

1.3

     Value added tax

15,139

18,659

18,133

 

13.0

23.3

-2.8

     Excise tax on motor vehicles

709

1,339

1,618

 

34.3

88.9

20.8

     Excise tax on petrol

1,311

1,374

1,441

 

10.6

4.8

4.9

     Excise on oil

1,122

1,293

787

 

13.9

15.2

-39.1

     Tobacco and liquor taxes

1,526

1,578

1,656

 

-12.3

3.4

4.9

     Other taxes on goods and services

1,903

2,394

3,338

 

-1.8

25.8

39.4

Taxes on international trade and transactions

397

425

362

 

0.5

7.0

-14.8

  Other taxes

75

103

112

 

735.2

37.0

8.9

  Social contributions

4,124

5,071

5,857

 

11.4

23.0

15.5

Grants

66

120

111

 

8.4

81.0

-7.1

Other revenue

2,960

3,123

3,571

 

8.1

5.5

14.3

Saleof assets

0

70

14

 

-

-

-

Total revenue

48,730

60,718

72,244

 

10.4

24.6

19.0



  

Treasury finances, January - February 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

7,131

7,866

6,745

 

10.3

-14.3

of which: interest

1,911

2,385

591

 

24.8

-75.2

Health

11,605

12,876

13,812

 

10.9

7.3

Social security and welfare

10,524

10,687

11,819

 

1.6

10.6

Economic affairs

6,002

5,936

5,672

 

-1.1

-4.5

Education

5,459

6,253

7,089

 

14.5

13.4

Culture, sports and religion

2,284

2,332

2,628

 

2.1

12.7

Law enforcement, justice, security

1,415

1,452

1,641

 

2.7

13.0

Environmental protection

445

430

495

 

-3.3

15.0

Housing, zoning and utilities

32

64

67

 

102.6

4.5

Total expenditure

44,897

47,897

49,967

 

6.7

4.3



 

Note:

Revised revenue classification of the Treasury in January 2006: 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.

Grein