Treasury

Treasury finances January-July 2009

8/27/2009

Treasury finances January-July 2009 (PDF 53K)

Cash Flow Statement in January–July 2005–2009

Millions of krónur

 

2005

2006

2007

2008

2009

Revenue

185 085

215 509

252 998

264 163

226 744

Expenditure

180 985

178 257

203 826

237 062

308 636

Current balance

4 100

37 252

49 172

27 101

-81 892

Receipts from sale of fixed assets

-

-

-6 136

- 53

-

Other cash payments / receipts

 496

- 752

-5 248

- 201

-9 342

Cash flows from operations

4 596

36 500

37 788

26 847

-91 234

Financial transactions

11 206

-2 383

-60 165

8 603

9 986

Net financial balance

15 802

34 116

-22 377

35 450

-81 248

Debt redemption

-33 343

-35 088

-26 465

-37 941

-72 736

   Domestic

-14 000

-12 215

-12 266

-22 656

-72 736

   Foreign

-19 342

-22 873

-14 199

-15 285

-

Pension fund prepayments

-2 250

-2 310

-2 310

-2 310

-

Gross borrowing requirement

-19 790

-3 282

-51 152

-4 801

-153 984

New borrowing

13 305

19 735

43 292

103 376

144 011

   Domestic

8 956

12 262

40 171

77 775

136 585

   Foreign

4 349

7 473

3 121

25 601

7 425

Overall cash balance

-6 486

16 453

-7 860

98 575

9 973



 Treasury revenue in January–July 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2007

2008

2009

Total taxes and social security contributions

228 049

240 703

196 972

 

12.7

5.5

-18.2

Taxes on income and profit

86 649

95 186

84 334

 

18.6

9.9

-11.4

Personal income tax

50 245

53 764

46 453

 

12.5

7.0

-13.6

Corporate income tax

14 604

15 418

9 161

 

1.2

5.6

-40.6

Capital income tax

21 800

26 004

28 721

 

55.7

19.3

10.4

Taxes on property

6 403

5 082

2 874

 

10.3

-20.6

-43.4

Taxes on goods and services

108 058

111 075

83 596

 

8.6

2.8

-24.7

Value added tax

76 422

79 607

56 403

 

11.0

4.2

-29.1

Excise tax on motor vehicles

5 838

5 940

1 192

 

-16.0

1.7

-79.9

Excise tax on petrol

5 318

5 157

5 844

 

3.2

-3.0

13.3

Excise on oil

3 867

4 032

3 637

 

11.8

4.3

-9.8

Tobacco and liquor taxes

6 672

6 768

7 653

 

4.5

1.4

13.1

Other taxes on goods and services

9 942

9 571

8 867

 

13.6

-3.7

-7.4

Taxes on international trade and transactions

3 262

3 878

2 776

 

32.8

18.9

-28.4

Other taxes

1 145

1 532

1 701

 

166.3

33.9

11.0

Social security contributions

22 531

23 949

21 690

 

6.8

6.3

-9.4

Grants

 562

 207

 350

 

225.6

-63.1

68.8

Other revenue

17 539

21 053

28 996

 

38.6

20.0

37.7

Sale of assets

6 848

2 200

 427

 

-

-

-

Total revenue

252 998

264 163

226 745

 

17.4

4.4

-14.2

 Treasury expenditure in January–July 2007–2009

 

Millions of krónur

 

Change from previous year in per cent

 

2007

2008

2009

 

2008

2009

General public services

29 527

35 699

59 585

 

20.9

66.9

of which: interest

10 106

11 696

34 060

 

15.7

191.2

Defence

 353

 684

 891

 

93.9

30.2

Law enforcement, justice, security

9 302

11 545

13 687

 

24.1

18.6

Economic affairs

26 037

34 185

36 910

 

31.3

8.0

Environmental protection

2 166

2 229

2 430

 

2.9

9.0

Housing, zoning and utilities

 256

 308

 365

 

20.4

18.4

Health

53 168

58 817

66 428

 

10.6

12.9

Culture, sports and religion

9 408

10 156

11 355

 

8.0

11.8

Education

23 072

25 593

28 330

 

10.9

10.7

Social security and welfare

45 372

52 881

81 516

 

16.5

54.2

Irregular expenditure

5 164

4 964

7 139

 

-3.9

43.8

Total expenditure

203 826

237 062

308 636

 

16.3

30.2



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.