Treasury

Treasury finances January-March 2009

4/30/2009

Cash Flow Statement in January–March 2005–2009

Millions of krónur

 

2005

2006

2007

2008

2009

Revenue

79 449

99 707

118 420

128 597

122 177

Expenditure

70 255

73 891

85 628

91 129

123 232

Current balance

9 194

25 816

32 792

37 468

-1 055

Receipts from sale of fixed assets

-

-

-

-

-

Other cash payments / receipts

 108

-2 730

-2 434

 295

-3 823

Cash flows from operations

9 301

23 086

30 357

37 763

-4 878

Financial transactions

6 210

-2 529

-32 020

-2 306

4 814

Net financial balance

15 511

20 557

-1 663

35 457

- 64

Debt redemption

-11 404

-9 096

-31 921

- 808

-1 339

   Domestic

-2 220

-9 096

-20 810

- 704

-1 339

   Foreign

-9 184

-

-11 111

- 104

-

Pension fund prepayments

- 850

- 990

- 990

- 990

-

Gross borrowing requirement

3 257

10 471

-34 574

33 659

-1 403

New borrowing

1 094

1 532

43 753

- 322

36 880

   Domestic

-3 831

1 532

39 362

- 322

30 403

   Foreign

4 925

-

4 391

-

6 477

Overall cash balance

4 351

12 003

9 180

33 337

35 477



 Treasury revenue in January– March 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2007

2008

2009

Total taxes and social security contributions

111 812

119 556

106 527

 

18.2

6.9

-10.9

Taxes on income and profit

49 294

54 407

54 730

 

20.2

10.4

0.6

Personal income tax

22 968

23 110

22 807

 

17.2

0.6

-1.3

Corporate income tax

5 369

4 754

3 798

 

-28.2

-11.5

-20.1

Capital income tax

20 957

26 543

28 125

 

50.4

26.7

6.0

Taxes on property

2 713

2 279

1 371

 

-10.5

-16.0

-39.8

Taxes on goods and services

48 276

50 158

39 227

 

18.7

3.9

-21.8

Value added tax

35 000

34 449

28 119

 

27.2

-1.6

-18.4

Excise tax on motor vehicles

1 809

3 193

 298

 

-32.4

76.5

-90.7

Excise tax on petrol

2 218

2 079

2 160

 

-2.7

-6.3

3.9

Excise on oil

1 865

2 006

1 740

 

14.4

7.6

-13.3

Tobacco and liquor taxes

2 592

2 744

2 716

 

4.1

5.9

-1.0

Other taxes on goods and services

4 792

5 687

4 196

 

17.0

18.7

-26.2

Taxes on international trade and transactions

1 387

1 900

1 194

 

62.4

37.0

-37.2

Other taxes

 259

 552

 613

 

48.7

113.0

11.2

Social security contributions

9 884

10 260

9 391

 

11.7

3.8

-8.5

Grants

 205

 83

 29

 

-6.7

-59.5

-64.7

Other revenue

6 683

7 723

15 362

 

37.0

15.6

98.9

Sale of assets

 501

1 234

 259

 

-

-

1.0

Total revenue

119 201

128 597

122 177

 

19.6

7.9

-5.0

 Treasury expenditure in January– March 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2008

2009

General public services

11 332

9 659

25 469

 

-14.8

163.7

of which: interest

3 502

 659

14 957

 

-81.2

2,169.7

Defence

 158

 406

 385

 

157.0

-5.3

Law enforcement, justice, security

4 143

5 273

4 034

 

27.3

-23.5

Economic affairs

11 384

12 137

14 858

 

6.6

22.4

Environmental protection

 860

 827

 846

 

-3.8

2.3

Housing, zoning and utilities

 114

 130

 40

 

14.0

-69.3

Health

21 666

23 803

27 062

 

9.9

13.7

Culture, sports and religion

4 378

4 867

4 990

 

11.2

2.5

Education

10 525

11 982

13 343

 

13.8

11.4

Social security and welfare

19 249

20 104

29 454

 

4.4

46.5

Irregular expenditure

1 814

1 941

2 751

 

7.0

41.8

Total expenditure

85 623

91 129

123 232

 

6.4

35.2



 

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.