News

Treasury finances January-June 2006

8/10/06

Cash Flow Statement, January – June 2006

Millions of krónur

2002

2003

2004

2005

2006

Revenue

113,244

130,556

133,583

165,540

182,826

Expenditure

120,944

127,670

138,399

151,887

153,160

Current balance

-7,700

2,886

-4816

13,653

29,666

Receipts from sale of fixed assets

-39

-12,059

-

-

-

Other cash payments / receipts

277

114

2574

1,883

40

Cash flows from operations

-7,462

-9,059

-2243

15,536

29,706

Financial transactions

3,118

17,596

4251

10,379

-2,208

Net financial balance

-4,343

8,424

-858

25,915

27,498

Debt redemption

-19,484

-17,952

-28,604

-30,002

-38,873

  Domestic

-9,344

-5,545

-3,601

-13,775

-24,100

   Foreign

-10,141

-12408

-25,004

-16,227

-14,773

Pension fund prepayments

-4,500

-3,750

-3,750

-1,900

-1,980

Gross borrowing requirement

-28,328

-13,279

-33,212

-5,988

-13,355

New borrowing

24,892

14038

34,780

9,579

16,246

   Domestic

6,937

12,661

11,228

5,305

8,146

   Foreign

17,955

1,377

23,552

4,274

8,100

Overall cash balance

-3,435

760

9,828

3,591

2,890



 

Treasury revenue, January – June 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social security contributions

124,698

148,057

172,169

 

14.7

18.7

16.3

Taxes on income and profit

42,172

48,725

65,047

 

17.8

15.5

33.5

Personal income tax

30,973

34,156

38,315

 

11.0

10.3

12.2

Corporate income tax

4,876

4,820

12,787

 

126.0

-1.2

165.3

Other taxes on income and profit

6,323

9,750

13,945

 

9.9

54.2

43.0

Taxes on property

4,781

7,497

5,449

 

17.2

56.8

-27.3

Taxes on goods and services

62,599

74,415

81,743

 

12.5

18.9

9.8

Value added tax

43,200

52,290

56,145

 

13.6

21.0

7.4

Excise tax on motor vehicles

2,904

5,120

5,879

 

39.5

76.3

14.8

Excise tax on petrol

3,934

3,887

4,265

 

13.2

-1.2

9.7

Excise on oil

2,273

2,603

2,903

 

14.5

14.5

11.5

Tobacco and liquor taxes

4,823

5,129

5,338

 

2.4

6.3

4.1

Other taxes on goods and services

5,465

5,386

7,213

 

1.6

-1.5

33.9

Taxes on international trade and transactions

1,430

1,511

1,601

 

19.2

5.7

5.9

Other taxes

268

337

375

 

.

26.0

11.1

Social security contributions

13,449

15,571

17,955

 

12.3

15.8

15.3

Grants

170

234

306

 

-58.9

37.7

30.9

Other revenue

8,692

17,010

10,065

 

-5.6

95.7

-40.8

Saleof assets

23

239

287

 

-

-

-

Total revenue

133,583

165,539

182,826

 

2.3

23.9

10.4



 

Treasury expenditure, January – June 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

24,694

31,884

25,513

 

29.1

-20.0

of which: interest

8,732

14,393

6,725

 

64.8

-53.3

Health

35,624

39,377

41,862

 

10.5

6.3

Social security and welfare

32,486

32,251

34,180

 

-0.7

6.0

Economic affairs

19,312

19,410

19,342

 

0.5

-0.4

Education

13,873

16,329

17,917

 

17.7

9.7

Culture, sports and religion

6,441

6,366

6,933

 

-1.2

8.9

Law enforcement, justice, security

4,253

4,387

5,398

 

3.2

23.0

Environmental protection

1,626

1,652

1,793

 

1.6

8.5

Housing, zoning and utilities

91

230

223

 

153.0

-3.0

Total expenditure

138,399

151,887

153,160

 

9.7

0.8



 

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.