Treasury

Treasury finances January-November 2008

1/8/2009

Cash Flow Statement in January–November 2004–2008

  Millions of krónur
2004 2005 2006 2007 2008
Revenue
247 748
360 791
338 507
389 404
392 733
Expenditure
256 960
279 860
284 909
328 012
392 519
Current
balance
-9 213
80 931
53 598
61 391
214
Receipts from
sale of fixed assets.
-
-58 088
- 384
- 33
- 40
Other cash
payments / receipts
1 036
-1 382
-1 182
-7 809
7 128
Cash flows
from operations
-8 177
21 461
52 031
53 550
7 302
Financial
transactions
17 734
48 960
-2 138
-67 660
-37 286
Net financial
balance
9 557
70 420
49 893
-11 484
-29 984
Debt re-
demption
-32 321
-61 597
-44 583
-33 828
-45 490
Domestic
-7 138
-14 089
-21 710
-22 496
-30 019
Foreign
-25 183
-47 508
-22 873
-11 332
-15 471
Pension fund prepayments
-6 875
-5 132
-3 650
-3 650
-3 650
Gross borrow-
ing requirement
-29 639
3 691
1 660
-48 961
-79 124
New borrowing
27 567
7 734
21 587
63 392
145 286
Domestic
11 440
7 734
21 345
63 207
101 712
Foreign
16 127
-
242
185
43 574
Overall cash
balance
-2 072
11 425
23 248
14 430
66 162


 Treasury revenue in January– November 2006–2008

Millions of krónur
Change from previous year (%)
2006
2007
2008
2006
2007
2008
Total taxes and social security contributions
315 415
353 502
354 181
12.9
12.1
0.2
Taxes on income and profit
107 233
124 371
133 806
20.1
16.0
7.6
Personal income tax
69 602
76 003
79 592
13.0
9.2
4.7
Corporate income tax
22 730
25 016
22 699
89.8
10.1
-9.3
Other taxes on income and profit
14 900
23 352
31 516
-5.3
56.7
35.0
Taxes on property
8 256
10 525
7 164
-42.6
27.5
-31.9
Taxes on goods and services
160 341
174 962
166 617
12.9
9.1
-4.8
Value added tax
111 166
123 046
117 634
14.9
10.7
-4.4
Excise tax
on motor vehicles
9 523
9 833
7 265
1.5
3.3
-26.1
Excise tax
on petrol
8 486
8 576
8 157
2.7
1.1
-4.9
Excise on oil
6 070
6 723
6 774
52.0
10.8
0.8
Tobacco and liquor taxes
10 245
10 745
10 892
4.7
4.9
1.4
Other taxes on goods and services
14 852
16 040
15 894
7.4
8.0
-0.9
Taxes on international trade and transactions
4 131
5 233
5 462
34.4
26.7
4.4
Other taxes
1 643
2 763
3 518
10.3
68.2
27.3
Social security contributions
33 811
35 649
37 614
16.1
5.4
5.5
Grants
1 347
1 008
348
277.1
-25.1
-65.5
Other revenue
20 793
27 936
35 416
-9.4
34.4
26.8
Sale of assets
952
6 957
2 787
-
-
-
 
338
389
392
-
-
-
Total revenue
507
404
733
-6.2
15.0
0.9

 Treasury expenditure in January– November 2006–2008

Millions of krónur
Change from previous year, %
2006
2007
2008
2007
2008
General public services
34 235
41 349
50 443
20.8
22.0
of which: interest
9 018
12 300
14 137
36.4
14.9
Defence
549
842
991
53.4
17.7
Law enforcement, justice, security
12 478
14 473
17 733
16.0
22.5
Economic affairs
39 568
46 869
60 094
18.5
28.2
Environmental protection
3 038
3 550
4 025
16.9
13.4
Housing, zoning and utilities
364
401
488
10.3
21.7
Health
76 800
85 439
97 600
11.2
14.2
Culture, sports and religion
12 574
14 171
15 359
12.7
8.4
Education
31 267
34 930
39 014
11.7
11.7
Social security and welfare
66 351
78 178
98 229
17.8
25.6
Irregular expenditure
6 102
7 809
8 544
28.0
9.4
Total expenditure
283 325
328 012
392 519
15.8
19.7


 

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.