Treasury

Treasury finances January-April 2008

6/5/2008

Cash Flow Statement in January–April 2004–2008

Millions of krónur

 

2004

2005

2006

2007

2008

Revenue

91 117

114 301

124 598

149 248

160 788

Expenditure

91 818

103 202

100 458

115 320

125 208

Current balance

- 701

11 099

24 140

33 928

35 581

Receipts from sale of fixed assets

-

-

-

-

-

Other cash payments / receipts

 908

1 993

 207

-3 043

-7 202

Cash flows from operations

 207

13 092

24 347

30 885

28 379

Financial transactions

 365

7 518

-2 478

-29 401

-2 354

Net financial balance

 536

19 356

21 869

1 484

26 025

Debt redemption

-25 018

-29 826

-31 685

-32 024

- 804

   Domestic

-3 170

-13 607

-9 179

-20 915

- 700

   Foreign

-21 848

-16 219

-22 506

-11 109

- 104

Pension fund prepayments

-2 500

-1 200

-1 320

-1 320

-1 320

Gross borrowing requirement

-26 982

-11 670

-11 136

-31 864

23 901

New borrowing

32 004

13 949

6 456

46 052

9 701

   Domestic

11 618

2 169

2 910

41 661

9 701

   Foreign

20 386

11 780

3 545

4 391

-

Overall cash balance

5 022

2 279

-4 680

14 188

33 602



 

Treasury revenue in January–April 2006–2008

 

Millions of krónur

 

Change from previous year in per cent

 

2006

2007

2008

 

2006

2007

2008

Total taxes and social security contributions

117 173

138 420

148 094

 

15.0

18.1

7.0

Taxes on income and profit

47 734

58 370

64 877

 

34.0

22.3

11.1

Personal income tax

25 759

29 985

31 045

 

12.2

16.4

3.5

Corporate income tax

8 076

7 678

7 842

 

167.0

-4.9

2.1

Other taxes on income and profit

13 899

20 707

25 990

 

44.2

49.0

25.5

Taxes on property

3 621

3 596

2 956

 

-29.1

-0.7

-17.8

Taxes on goods and services

53 000

61 601

63 859

 

6.5

16.2

3.7

Value added tax

35 906

44 627

44 959

 

4.2

24.3

0.7

Excise tax on motor vehicles

4 112

2 652

3 962

 

42.3

-35.5

49.4

Excise tax on petrol

2 812

2 855

2 757

 

1.9

1.5

-3.4

Excise on oil

2 021

2 310

2 494

 

-16.6

14.3

8.0

Tobacco and liquor taxes

3 397

3 549

3 579

 

4.9

4.5

0.9

Other taxes on goods and services

4 754

5 606

6 107

 

18.9

17.9

8.9

Taxes on international trade and transactions

 886

1 431

1 940

 

-7.3

61.4

35.6

Other taxes

 232

 324

 723

 

5.1

39.5

123.1

Social security contributions

11 699

13 099

13 739

 

14.3

12.0

4.9

Grants

 253

 355

 57

 

36.2

40.4

-84.0

Other revenue

7 153

9 560

10 559

 

-41.0

33.7

10.5

Sale of assets

 19

 568

2 077

 

-

-

-

Total revenue

124 598

148 904

160 788

 

9.0

19.5

8.0

Treasury expenditure in January–April 2006–2008

 

Millions of krónur

 

Change from previous year in per cent

 

2006

2007

2008

 

2007

2008

General public services

13 298

15 172

17 174

 

14.1

13.2

of which: interest

4 072

4 905

5 181

 

20.5

5.6

Defence

 208

 193

 508

 

-7.2

163.4

Health

4 277

5 355

6 410

 

25.2

19.7

Social security and welfare

12 005

15 040

15 255

 

25.3

1.4

Economic affairs

 895

1 164

1 069

 

30.1

-8.2

Education

 140

 147

 174

 

5.0

18.2

Culture, sports and religion

26 501

29 468

31 278

 

11.2

6.1

Law enforcement, justice, security

4 748

5 721

6 113

 

20.5

6.9

Environmental protection

11 827

13 437

14 745

 

13.6

9.7

Housing, zoning and utilities

23 103

27 004

29 087

 

16.9

7.7

Irregular expenditure

2 022

2 619

3 396

 

29.5

29.7

Total expenditure

99 024

115 320

125 208

 

16.5

8.6



 

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.