Treasury

Treasury finances January-April 2009

5/28/2009

Cash Flow Statement in January–April 2005–2009

 

Millions of krónur

 

2005

2006

2007

2008

2009

Revenue

114 301

124 598

149 248

160 788

151 271

Expenditure

103 202

100 458

115 320

125 208

167 742

Current balance

11 099

24 140

33 928

35 581

-16 471

Receipts from sale of fixed assets

-

-

-

-

-

Other cash payments / receipts

1 993

 207

-3 043

-7 202

-4 249

Cash flows from operations

13 092

24 347

30 885

28 379

-20 720

Financial transactions

7 518

-2 478

-29 401

-2 354

8 176

Net financial balance

19 356

21 869

1 484

26 025

-12 544

Debt redemption

-29 826

-31 685

-32 024

- 804

-1 337

   Domestic

-13 607

-9 179

-20 915

- 700

-1 337

   Foreign

-16 219

-22 506

-11 109

- 104

-

Pension fund prepayments

-1 200

-1 320

-1 320

-1 320

-

Gross borrowing requirement

-11 670

-11 136

-31 864

23 901

-13 881

New borrowing

13 949

6 456

46 052

9 701

43 706

   Domestic

2 169

2 910

41 661

9 701

37 138

   Foreign

11 780

3 545

4 391

-

6 568

Overall cash balance

2 279

-4 680

14 188

33 602

29 825



 Treasury revenue in January– April 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2007

2008

2009

Total taxes and social security contributions

138 420

148 094

131 615

 

18.1

7.0

-11.1

Taxes on income and profit

58 370

64 877

63 187

 

22.3

11.1

-2.6

Personal income tax

29 985

31 045

29 657

 

16.4

3.5

-4.5

Corporate income tax

7 678

7 842

5 400

 

-4.9

2.1

-31.1

Capital income tax

20 707

25 990

28 130

 

49.0

25.5

8.2

Taxes on property

3 596

2 956

1 725

 

-0.7

-17.8

-41.6

Taxes on goods and services

61 601

63 859

51 842

 

16.2

3.7

-18.8

Value added tax

44 627

44 959

36 915

 

24.3

0.7

-17.9

Excise tax on motor vehicles

2 652

3 962

 343

 

-35.5

49.4

-91.3

Excise tax on petrol

2 855

2 757

3 019

 

1.5

-3.4

9.5

Excise on oil

2 310

2 494

2 160

 

14.3

8.0

-13.4

Tobacco and liquor taxes

3 549

3 579

3 845

 

4.5

0.9

7.4

Other taxes on goods and services

5 606

6 107

5 561

 

17.9

8.9

-8.9

Taxes on international trade and transactions

1 431

1 940

1 640

 

61.4

35.6

-15.5

Other taxes

 324

 723

 827

 

39.5

123.1

14.4

Social security contributions

13 099

13 739

12 395

 

12.0

4.9

-9.8

Grants

 355

 57

 140

 

40.4

-84.0

145.3

Other revenue

9 560

10 559

19 222

 

33.7

10.5

82.0

Sale of assets

 568

2 077

 294

 

-

-

-

Total revenue

148 904

160 788

151 271

 

19.5

8.0

-5.9

 Treasury expenditure in January– April 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2008

2009

General public services

15 172

17 174

34 363

 

13.2

100.1

of which: interest

4 905

4 980

19 770

 

1.5

297.0

Defence

 193

 508

 507

 

163.4

-0.2

Law enforcement, justice, security

5 355

6 410

5 447

 

19.7

-15.0

Economic affairs

15 040

15 255

19 621

 

1.4

28.6

Environmental protection

1 164

1 069

1 339

 

-8.2

25.3

Housing, zoning and utilities

 147

 174

 51

 

18.2

-70.7

Health

29 468

31 278

37 652

 

6.1

20.4

Culture, sports and religion

5 721

6 113

6 575

 

6.9

7.6

Education

13 437

14 745

16 504

 

9.7

11.9

Social security and welfare

27 004

29 087

41 854

 

7.7

43.9

Irregular expenditure

2 619

3 396

3 830

 

29.7

12.8

Total expenditure

115 320

125 208

167 742

 

8.6

34.0



 

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.