Treasury

Treasury finances January-November 2006

1/4/2007

Cash Flow Statement, January–November

 

Millions of krónur

 

2002

2003

2004

2005

2006

Revenue

206 478

229 442

247 748

360 791

338 507

Expenditure

221 362

240 313

256 960

279 860

284 909

Current balance

-14 884

-10 871

-9 213

80 931

53 598

Receipts from sale of fixed assets

-3 252

-11 313

-

-58 088

- 384

Other cash payments / receipts

-1 465

- 503

1 036

-1 382

-1 182

Cash flows from operations

-19 601

-22 687

-8 177

21 461

52 031

Financial transactions

9 585

21 056

17 734

48 960

-2 138

Net financial balance

-10 016

-1 631

9 557

70 420

49 893

Debt redemption

-32 463

-30 666

-32 321

-61 597

-44 583

   Domestic

-12 382

-18 216

-7 138

-14 089

-21 710

   Foreign

-20 081

-12 450

-25 183

-47 508

-22 873

Pension fund prepayments

-8 250

-6 875

-6 875

-5 132

-3 650

Gross borrowing requirement

-50 728

-39 172

-29 639

3 691

1 661

New borrowing

46 826

39 087

27 567

7 734

21 587

   Domestic

16 054

33 367

11 440

7 734

21 345

   Foreign

30 772

5 720

16 127

-

 242

Overall cash balance

-3 902

- 86

-2 072

11 425

23 248



 

Treasury revenue, January– November

 

Millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social security contributions

230 318

279 390

315 415

 

13.6

21.3

12.9

Taxes on income and profit

71 555

89 310

107 233

 

13.1

24.8

20.1

Personal income tax

55 686

61 599

69 602

 

11.3

10.6

13.0

Corporate income tax

7 830

11 978

22 730

 

30.6

53.0

89.8

Other taxes on income and profit

8 039

15 733

14 900

 

11.1

95.7

-5.3

Taxes on property

10 931

14 381

8 256

 

42.6

31.6

-42.6

Taxes on goods and services

118 705

142 024

160 341

 

12.3

19.6

12.9

Value added tax

79 903

96 785

111 166

 

13.1

21.1

14.9

Excise tax on motor vehicles

5 585

9 378

9 523

 

36.4

67.9

1.5

Excise tax on petrol

7 859

8 261

8 486

 

12.7

5.1

2.7

Excise on oil

5 683

3 993

6 070

 

18.9

-29.7

52.0

Tobacco and liquor taxes

9 180

9 782

10 245

 

2.9

6.6

4.7

Other taxes on goods and services

10 495

13 825

14 852

 

2.2

31.7

7.4

Taxes on international trade and transactions

2 765

3 074

4 131

 

16.2

11.2

34.4

Other taxes

1 352

1 490

1 643

 

.

10.2

10.3

Social security contributions

25 010

29 112

33 811

 

9.3

16.4

16.1

Grants

 410

 357

1 347

 

-57.8

-12.9

277.1

Other revenue

16 597

22 957

20 793

 

19.2

38.3

-9.4

Sale of assets

 423

58 086

 952

 

-

-

-

Total revenue

247 747

360 790

338 507

 

8.0

45.6

-6.2

 

Treasury expenditure, January– November

 

Millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

42 018

55 116

43 419

 

31.2

-21.2

of which: interest

12 672

17 203

9 018

 

35.8

-47.6

Health

68 233

71 952

77 894

 

5.5

8.3

Social security and welfare

61 344

64 328

67 437

 

4.9

4.8

Economic affairs

38 762

37 794

38 736

 

-2.5

2.5

Education

24 098

27 644

30 975

 

14.7

12.1

Culture, sports and religion

11 325

11 270

12 764

 

-0.5

13.3

Law enforcement, justice, security

8 097

8 243

9 917

 

1.8

20.3

Environmental protection

2 876

3 110

3 374

 

8.1

8.5

Housing, zoning and utilities

 219

 403

 395

 

84.2

-2.1

Total expenditure

256 972

279 860

284 909

 

8.9

1.8



 

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.