News

Treasury finances January-March 2006

4/27/06

In pdf-format: Treasury finances January-March 2006 (PDF 49K)

Cash Flow Statement January–March 2006

(In millions of krónur)

2002

2003

2004

2005

2006

Revenue

55,454

68,337

64,635

79,449

99,704

Expenditure

55,945

61,957

65,039

70,255

74,371

Current balance

-491

6,380

-404

9,194

25,334

Receipts from sale of fixed assets

-31

-10,720

-

-

-

Other cash payments / receipts

-1,427

-3,595

838

108

-1,593

Cash Flows from operations

-1,949

-7,935

435

9,301

23,741

Financial transactions

2,015

14,340

3,177

6,210

-2,455

Net financial balance

65

6,405

3,611

15,511

21,286

Debt redemption

-10,753

-4,953

-13,950

-11,404

-9,070

   Domestic

-612

-4,913

-57

-2,220

-9,064

   Foreign

-10,141

-40

-13,893

-9,184

-6

Pension fund prepayments

-2,250

-1,875

-1,875

-850

-990

Gross borrowing requirement

-12,938

-423

-12,214

3,257

11,226

New borrowing

15,634

5,081

34,626

1,094

1,532

   Domestic

5,516

12,040

14,240

-3,831

1,532

   Foreign

10,118

-6,960

20,387

4,925

-

Overall cash balance

2,696

4,657

5,064

4,351

12,758

 

Treasury finances, January–March 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social contributions

61,193

75,135

94,593

 

13.1

22.8

25.9

  Taxes on income and profit

23,770

29,299

41,004

 

16.0

23.3

40.0

     Personal income tax

15,506

17,572

19,592

 

10.3

13.3

11.5

     Corporate income tax

2,021

2,142

7,475

 

-

-

-

     Other taxes on income and profit

6,243

9,585

13,937

 

8.9

53.5

45.4

  Taxes on property

2,392

3,621

3,032

 

21.2

51.4

-16.3

  Taxes on goods and services

27,963

33,760

40,683

 

10.3

20.7

20.5

     Value added tax

17,895

21,990

27,511

 

11.8

22.9

25.1

     Excise tax on motor vehicles

1,141

2,027

2,677

 

32.8

77.7

32.1

     Excise tax on petrol

1,975

2,041

2,279

 

14.3

3.3

11.7

     Excise on oil

1,929

2,172

1,630

 

18.3

12.6

-24.9

     Tobacco and liquor taxes

2,188

2,368

2,491

 

-2.6

8.2

5.2

     Other taxes on goods and services

2,835

3,162

4,095

 

-1.3

11.5

29.5

Taxes on international trade and transactions

634

673

854

 

4.5

6.2

26.9

  Other taxes

111

161

174

 

815.4

45.6

8.2

  Social contributions

6,324

7,621

8,845

 

11.0

20.5

16.1

Grants

99

153

220

 

-10.9

54.2

43.9

Other revenue

3,341

4,092

4,877

 

0.8

22.5

19.2

Saleof assets

2

70

14

 

-

-

-

Total Revenue

64,635

79,449

99,704

 

-5.4

22.9

25.5

 

Treasury finances, January–March 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

10,527

11,794

11,559

 

12.0

-2.0

of which: interest

2,687

3,698

2,520

 

37.6

-31.9

Health

17,146

19,392

20,620

 

13.1

6.3

Social security and welfare

1,084

15,590

16,937

 

3.4

8.6

Economic affairs

535

8,977

8,586

 

5.2

-4.4

Education

7,446

8,304

9,461

 

11.5

13.9

Culture, sports and religion

3,271

3,263

3,734

 

-0.2

14.5

Law enforcement, justice, security

2,141

2,178

2,680

 

1.8

23.0

Environmental protection

842

658

688

 

-21.8

4.6

Housing, zoning and utilities

48

100

106

 

108.7

5.9

Total expenditure

65,039

70,255

74,371

 

8.0

5.9



 

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.