News

Treasury finances January-August 2006

9/28/06

Cash Flow Statement, January – August 2006

Millions of krónur

2002

2003

2004

2005

2006

Revenue

152,633

170,668

181,033

219,294

246,109

Expenditure

165,773

176,919

189,354

203,787

209,728

Current balance

-13,140

-6,251

-8,322

15,507

36,381

Receipts from sale of fixed assets

-3,175

-12,059

-

-

-

Other cash payments / receipts

-1,120

-790

1,560

791

-823

Cash flows from operations

-17,435

-19,100

-6,761

16,298

35,558

Financial transactions

8,214

17,773

7,829

11,260

-2,339

Net financial balance

-9,221

-1,327

1,068

27,558

33,219

Debt redemption

-22,123

-18,437

-29,593

-33,363

-32,592

  Domestic

-10,067

-6,028

-4,576

-14,015

-9,719

   Foreign

-12,056

-12,409

-25,017

-19,348

-22,873

Pension fund prepayments

-6,000

-5,000

-5,000

-2,600

-2,640

Gross borrowing requirement

-37,344

-24,764

-33,525

-8,406

-2,013

New borrowing

32,171

21,828

40,177

15,832

25,247

   Domestic

9,288

20,095

16,928

11,555

17,673

   Foreign

22,884

1,733

23,249

4,277

7,574

Overall cash balance

-5,172

-2,936

6,652

7,426

23,234

 

 

 

 

 



Treasury revenue, January – August 2006

 

In millions of krónur

 

Change from previous year in per cent

 

 

2004

2005

2006

 

2004

2005

2006

 

Total taxes and social security contributions

169,327

200,652

230,505

 

15.2

18.5

14.9

Taxes on income and profit

52,640

60,880

78,979

 

20.4

15.7

29.7

Personal income tax

39,040

43,108

48,151

 

12.6

10.4

11.7

Corporate income tax

6,619

7,340

15,746

 

127.4

10.9

114.5

Other taxes on income and profit

6,981

10,432

15,082

 

13.7

49.4

44.6

Taxes on property

6,344

9,537

6,358

 

16.9

50.3

-33.3

Taxes on goods and services

89,220

105,844

116,941

 

13.1

18.6

10.5

Value added tax

59,885

72,534

80,676

 

13.5

21.1

11.2

Excise tax on motor vehicles

4,111

7,053

7,590

 

36.3

71.6

7.6

Excise tax on petrol

5,679

5,872

5,968

 

19.8

3.4

1.6

Excise on oil

4,266

3,755

4,339

 

18.6

-12.0

15.5

Tobacco and liquor taxes

6,844

7,189

7,500

 

1.8

5.0

4.3

Other taxes on goods and services

8,435

9,441

10,869

 

4.9

11.9

15.1

Taxes on international trade and transactions

1,927

2,105

2,546

 

15.1

9.2

21.0

Other taxes

1,140

1,236

1,368

 

.

8.5

10.7

Social security contributions

18,056

21,050

24,311

 

9.3

16.6

15.5

Grants

216

270

736

 

-64.5

25.1

172.7

Other revenue

11,461

18,094

14,350

 

5.8

57.9

-20.7

Saleof assets

29

277

518

 

-

-

-

Total revenue

181,033

219,293

246,109

 

6.1

21.1

12.2



 

Treasury expenditure, January – August 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

32,083

39,170

33,012

 

22.1

-15.7

of which: interest

10,282

15,796

7,696

 

53.6

-51.3

Health

48,440

52,245

56,223

 

7.9

7.6

Social security and welfare

46,480

48,091

50,596

 

3.5

5.2

Economic affairs

27,836

26,728

27,226

 

-4.0

1.9

Education

17,850

20,525

23,471

 

15.0

14.4

Culture, sports and religion

8,621

8,379

9,327

 

-2.8

11.3

Law enforcement, justice, security

5,681

6,075

7,115

 

6.9

17.1

Environmental protection

2,205

2,274

2,466

 

3.1

8.5

Housing, zoning and utilities

159

300

292

 

88.5

-2.6

Total expenditure

189,354

203,787

209,728

 

7.6

2.9



 

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.