Treasury

Treasury finances January-October 2008

11/27/2008

Cash Flow Statement in January–October 2004–2008

  Millions of krónur
2004 2005 2006 2007 2008
Revenue
228 745
336 643
308 354
353 950
369 397
Expenditure
233 304
256 585
258 824
295 857
355 813
Current
balance
-4 558
80 058
49 530
58 093
13 584
Receipts from
sale of fixed assets.
-
-58 033
- 384
-6 170
- 39
Other cash
payments / receipts
1 710
-1 731
- 356
- 695
10 644
Cash flows
from operations
-2 848
20 294
48 791
51 229
24 189
Financial
transactions
9 273
48 377
-2 006
-63 097
5 984
Net financial
balance
6 425
68 671
46 785
-11 868
30 173
Debt re-
demption
-30 856
-61 557
-41 565
-33 503
-45 934
Domestic
-5 678
-14 064
-18 692
-22 271
-30 022
Foreign
-25 178
-47 493
-22 873
-11 232
-15 912
Pension fund prepayments
-6 250
-3 300
-3 300
-3 300
-3 300
Gross borrow-
ing requirement
-30 681
3 814
1 920
-48 671
-19 061
New borrowing
30 408
9 048
25 961
58 383
198 081
Domestic
13 136
9 048
21 345
58 206
101 710
Foreign
17 272
-
4 616
177
96 370
Overall cash
balance
- 272
12 862
27 882
9 712
179 020


 Treasury revenue in January–October 2006–2008

Millions of krónur
Change from previous year (%)
2006
2007
2008
2006
2007
2008
Total taxes and social security contributions 287 295 322 065 334 021 11.8 12.1 3.7
Taxes on income and profit 97 368 114 169 128 755 19.9 17.3 12.8
Personal income tax 62 249 68 579 72 070 13.1 10.2 5.1
Corporate income tax 17 129 18 563 20 458 103.0 8.4 10.2
Other taxes on income and profit 17 990 27 027 36 227 1.4 50.2 34.0
Taxes on property 7 627 9 527 6 725 -37.0 24.9 -29.4
Taxes on goods and services 146 878 159 047 155 999 10.3 8.3 -1.9
Value added tax 101 916 111 902 110 185 11.5 9.8 -1.5
Excise tax
on motor vehicles
8 883 8 873 7 130 3.2 -0.1 -19.6
Excise tax
on petrol
7 436 7 637 7 403 -0.4 2.7 -3.1
Excise on oil 5 577 6 141 6 259 41.2 10.1 1.9
Tobacco and liquor taxes 9 291 9 745 9 860 3.8 4.9 1.2
Other taxes on goods and services 13 776 14 747 15 162 7.5 7.0 2.8
Taxes on international trade and transactions 3 357 4 359 4 876 21.0 29.8 11.8
Other taxes 1 504 2 586 3 333 8.6 72.0 28.9
Social security contributions 30 560 32 377 34 333 16.6 5.9 6.0
Grants 1 207 973 339 255.8 -19.4 -65.2
Other revenue 19 072 25 023 32 261 -10.9 31.2 28.9
Sale of assets 781 6 931 2 776 - - -
  308 354 369 - - -
Total revenue 354 991 397 -8.4 15.1 4.1

 Treasury expenditure in January–October 2006–2008

Millions of krónur
Change from previous year, %
2006
2007
2008
2007
2008
General public services
31 847
38 250
47 126
20.1
23.2
of which: interest
8 592
11 536
13 747
34.3
19.2
Defence
487
687
921
41.0
34.1
Law enforcement, justice, security
11 262
13 115
16 179
16.5
23.4
Economic affairs
35 695
41 207
53 328
15.4
29.4
Environmental protection
2 835
3 324
3 651
17.3
9.8
Housing, zoning and utilities
333
351
445
5.3
26.8
Health
69 424
77 209
87 678
11.2
13.6
Culture, sports and religion
11 422
13 122
14 098
14.9
7.4
Education
28 528
31 991
35 963
12.1
12.4
Social security and welfare
59 331
70 084
88 904
18.1
26.9
Irregular expenditure
5 478
7 124
7 520
30.0
5.6
Total expenditure
256 642
296 464
355 813
15.5
20.0


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.