News

Treasury finances January-October 2006

11/30/06

Cash Flow Statement, January–October

 

Millions of krónur

 

2002

2003

2004

2005

2006

Revenue

190 965

211 559

228 745

336 643

308 354

Expenditure

202 110

218 708

233 304

256 585

258 824

Current balance

-11 145

-7 149

-4 558

80 058

49 531

Receipts from sale of fixed assets

-3 252

-12 013

-

-58 033

- 384

Other cash payments / receipts

-2 167

 23

1 710

-1 731

- 356

Cash flows from operations

-16 533

-19 139

-2 848

20 294

48 791

Financial transactions

9 188

20 614

9 273

48 377

-2 006

Net financial balance

-7 345

1 475

6 425

68 671

46 785

Debt redemption

-28 558

-30 654

-30 856

-61 557

-41 565

   Domestic

-10 598

-18 204

-5 678

-14 064

-18 692

   Foreign

-17 960

-12 450

-25 178

-47 493

-22 873

Pension fund prepayments

-7 500

-6 250

-6 250

-3 300

-3 300

Gross borrowing requirement

-43 403

-35 429

-30 681

3 814

1 921

New borrowing

43 465

27 439

30 408

9 048

25 961

   Domestic

11 398

22 225

13 136

9 048

21 345

   Foreign

32 067

5 214

17 272

-

4 616

Overall cash balance

 62

-7 989

- 272

12 862

27 882



 

Treasury revenue, January–October

 

Millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social security contributions

212 694

256 866

287 295

 

14.8

20.8

11.8

Taxes on income and profit

63 767

81 199

97 368

 

15.4

27.3

19.9

Personal income tax

50 014

55 020

62 249

 

12.0

10.0

13.1

Corporate income tax

5 240

8 437

17 129

 

55.8

61.0

103.0

Other taxes on income and profit

8 514

17 741

17 990

 

17.5

108.4

1.4

Taxes on property

11 305

12 114

7 627

 

57.2

7.2

-37.0

Taxes on goods and services

111 202

133 175

146 878

 

12.1

19.8

10.3

Value added tax

76 016

91 389

101 916

 

13.0

20.2

11.5

Excise tax on motor vehicles

5 095

8 605

8 883

 

37.0

68.9

3.2

Excise tax on petrol

7 135

7 468

7 436

 

11.7

4.7

-0.4

Excise on oil

4 664

3 949

5 577

 

17.8

-15.3

41.2

Tobacco and liquor taxes

8 429

8 948

9 291

 

3.1

6.2

3.8

Other taxes on goods and services

9 863

12 815

13 776

 

1.9

29.9

7.5

Taxes on international trade and transactions

2 499

2 775

3 357

 

18.3

11.0

21.0

Other taxes

1 252

1 385

1 504

 

.

10.6

8.6

Social security contributions

22 669

26 219

30 560

 

9.3

15.7

16.6

Grants

 292

 339

1 207

 

-67.2

16.2

255.8

Other revenue

15 346

21 407

19 072

 

19.2

39.5

-10.9

Sale of assets

 413

58 031

 781

 

-

-

-

Total revenue

228 745

336 642

308 354

 

8.1

47.2

-8.4

 

Treasury expenditure, January–October

 

Millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

38 473

52 250

40 210

 

35.8

-23.0

of which: interest

11 854

16 825

8 592

 

41.9

-48.9

Health

61 407

65 527

70 421

 

6.7

7.5

Social security and welfare

55 278

58 065

60 520

 

5.0

4.2

Economic affairs

35 541

34 243

35 034

 

-3.7

2.3

Education

22 006

25 600

28 716

 

16.3

12.2

Culture, sports and religion

10 476

10 227

11 568

 

-2.4

13.1

Law enforcement, justice, security

7 277

7 443

8 904

 

2.3

19.6

Environmental protection

2 663

2 857

3 093

 

7.3

8.2

Housing, zoning and utilities

 193

 372

 358

 

92.5

-3.6

Total expenditure

233 314

256 585

258 824

 

10.0

0.9



 

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.