News

Treasury finances January-July 2006

8/31/06

Cash Flow Statement, January – July 2006

Millions of krónur

2002

2003

2004

2005

2006

Revenue

131 399

147 465

150 429

185 085

215 509

Expenditure

141 957

150 807

164 139

180 985

178 257

Current balance

-10 558

-3 342

-15 428

4 100

37 252

Receipts from sale of fixed assets

-3 175

-12 059

-

-

-

Other cash payments / receipts

-2 236

-577

577

496

-752

Cash flows from operations

-15 969

-15 978

-16 005

4 596

36 500

Financial transactions

8 449

17 783

1 840

11 206

-2 383

Net financial balance

-7 520

1 805

-14 165

15 802

34 116

Debt redemption

-19 877

-18 021

-29 142

-33 343

-35 088

   Domestic

-9 737

-5 612

-4 139

-14 000

-12 215

   Foreign

-10 140

-12 409

-25 004

-19 342

-22 873

Pension fund prepayments

-5 250

-4 375

-4 375

-2 250

-2 310

Gross borrowing requirement

-32 647

-20 591

-47 683

-19 790

-3 282

New borrowing

30 324

24 245

39 386

13 305

19 735

   Domestic

12 370

22 868

16 127

8 956

12 262

   Foreign

17 954

1 377

23 259

4 349

7 473

Overall cash balance

-2 323

3 654

-8 296

-6 486

16 453

 

 

 

 

 



Treasury revenue, January – July 2006

 

In millions of krónur

 

Change from previous year in per cent

 

 

2004

2005

2006

 

2004

2005

2006

 

Total taxes and social security contributions

140 246

166 490

202 398

 

12.6

18.7

21.6

Taxes on income and profit

45 406

52 322

73 074

 

11.3

15.2

39.7

Personal income tax

33 286

37 096

44 648

 

2.5

11.4

20.4

Corporate income tax

5 783

5 459

14 426

 

129.0

-5.6

164.3

Other taxes on income and profit

6 337

9 768

14 001

 

9.9

54.1

43.3

Taxes on property

5 501

8 240

5 806

 

17.6

49.8

-29.5

Taxes on goods and services

71 669

85 557

99 534

 

13.1

19.4

16.3

Value added tax

47 764

58 491

68 842

 

14.0

22.5

17.7

Excise tax on motor vehicles

3 519

6 211

6 951

 

35.3

76.5

11.9

Excise tax on petrol

4 744

4 985

5 151

 

13.2

5.1

3.3

Excise on oil

3 242

2 740

3 458

 

17.5

-15.5

26.2

Tobacco and liquor taxes

5 805

6 174

6 383

 

2.6

6.4

3.4

Other taxes on goods and services

6 594

6 956

8 750

 

5.6

5.5

25.8

Taxes on international trade and transactions

1 691

1 795

2 457

 

19.7

6.2

36.8

Other taxes

335

396

430

 

.

18.2

8.7

Social security contributions

15 645

18 179

21 097

 

9.7

16.2

16.0

Grants

193

252

173

 

-64.5

30.5

-31.5

Other revenue

9 960

18 103

12 652

 

-2.2

81.8

-30.1

Saleof assets

29

239

287

 

-

-

-

Total revenue

150 429

185 084

215 509

 

2.0

23.0

16.4



 

Treasury expenditure, January – July 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

28 841

35 848

29 338

 

24.3

-18.2

of which: interest

9 748

15 478

7 322

 

58.8

-52.7

Health

41 566

46 299

49 138

 

11.4

6.1

Social security and welfare

41 744

42 211

39 338

 

1.1

-6.8

Economic affairs

23 630

23 262

23 044

 

-1.6

-0.9

Education

15 587

18 516

20 547

 

18.8

11.0

Culture, sports and religion

7 541

7 459

8 291

 

-1.1

11.2

Law enforcement, justice, security

4 948

5 199

6 195

 

5.1

19.2

Environmental protection

1 895

1 926

2 108

 

1.7

9.4

Housing, zoning and utilities

105

266

258

 

154.2

-3.2

Total expenditure

165 856

180 985

178 257

 

9.1

-1.5



 

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.