Treasury

Treasury finances January-December 2007

2/7/2008

Treasury finances January-December 2007 (PDF 55K)

Cash Flow Statement, January – December

Millions of krónur

 

2003

2004

2005

2006

2007

Revenue

259 783

280 696

399 289

381 336

452 673

Expenditure

268 714

280 382

308 382

314 716

369 583

Current balance

-8 931

 315

90 905

66 619

83 090

Receipts from sale of fixed assets

-10 177

-

-57 605

- 384

-6 170

Other cash payments / receipts

9 836

- 607

-1 286

- 516

-15 962

Cash flows from operations

-9 272

- 292

32 014

65 719

60 958

Financial transactions

21 115

22 700

49 874

-91 154

-63 102

Net financial balance

11 843

22 408

81 888

-25 435

-2 144

Debt redemption

-30 702

-32 477

-62 305

-46 097

-33 837

   Domestic

-18 252

-7 291

-14 596

-23 223

-22 505

   Foreign

-12 450

-25 186

-47 709

-22 873

-11 332

Pension fund prepayments

-7 500

-7 500

-5 482

-4 000

-12 500

Gross borrowing requirement

-26 359

-17 569

14 101

-75 531

-48 481

New borrowing

24 749

25 867

10 234

115 713

58 939

   Domestic

28 334

9 740

10 234

25 892

58 754

   Foreign

-3 584

16 127

-

89 821

 185

Overall cash balance

-1 610

8 298

24 335

40 182

10 457



 

Treasury revenue, January – December

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2005

2006

2007

Total taxes and social security contributions

314 820

354 209

395 666

 

20.7

12.5

11.7

Taxes on income and profit

101 341

126 192

144 637

 

22.8

24.5

14.6

Personal income tax

69 056

78 228

84 101

 

10.3

13.3

7.5

Corporate income tax

15 384

31 369

35 366

 

40.9

103.9

12.7

Other taxes on income and profit

16 901

16 595

25 170

 

88.3

-1.8

51.7

Taxes on property

14 906

9 172

11 712

 

23.7

-38.5

27.7

Taxes on goods and services

161 210

175 692

191 834

 

20.4

9.0

9.2

Value added tax

111 205

122 400

135 381

 

22.1

10.1

10.6

Excise tax on motor vehicles

10 250

10 230

11 005

 

68.8

-0.2

7.6

Excise tax on petrol

8 783

8 995

9 168

 

5.6

2.4

1.9

Excise on oil

4 015

6 553

7 292

 

-31.1

63.2

11.3

Tobacco and liquor taxes

10 560

11 371

11 949

 

3.4

7.7

5.1

Other taxes on goods and services

16 397

16 142

17 040

 

32.4

-1.6

5.6

Taxes on international trade and transactions

3 474

4 170

5 292

 

13.8

20.0

26.9

Other taxes

1 641

1 758

3 024

 

13.3

7.2

72.0

Social security contributions

32 249

37 226

39 167

 

16.2

15.4

5.2

Grants

 760

1 668

1 868

 

8.6

119.6

12.0

Other revenue

25 189

24 506

35 104

 

34.0

-2.7

43.2

Sale of assets

58 519

 953

20 035

 

-

-

-

Total revenue

399 288

381 336

452 673

 

42.2

-4.5

18.7

 

Treasury expenditure, January – December

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2006

2007

General public services

...

37 817

52 259

 

...

38.2

of which: interest

...

9 884

17 090

 

...

72.9

Defence

...

 606

 977

 

...

61.2

Health

...

13 784

15 802

 

...

14.6

Social security and welfare

...

43 708

52 759

 

...

20.7

Economic affairs

...

3 356

4 040

 

...

20.4

Education

 ...

 402

 544

 

...

35.2

Culture, sports and religion

...

84 836

93 314

 

...

10.0

Law enforcement, justice, security

...

13 890

15 906

 

...

14.5

Environmental protection

...

34 539

37 837

 

...

9.5

Housing, zoning and utilities

...

73 294

86 628

 

...

18.2

Irregular expenditure

...

8 484

9 518

 

...

12.2

Total expenditure

308 382

314 716

369 583

 

2.1

17.4



 

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.