Treasury

Treasury finances January-November 2007

1/10/2008

Cash Flow Statement, January – November

Millions of krónur

 

2003

2004

2005

2006

2007

Revenue

229 442

247 748

360 791

338 507

388 491

Expenditure

240 313

256 960

279 860

284 909

326 925

Current balance

-10 871

-9 213

80 931

53 598

61 566

Receipts from sale of fixed assets

-11 313

-

-58 088

- 384

-6 170

Other cash payments / receipts

- 503

1 036

-1 382

-1 182

-1 867

Cash flows from operations

-22 687

-8 177

21 461

52 031

53 529

Financial transactions

21 056

17 734

48 960

-2 138

-61 645

Net financial balance

-1 631

9 557

70 420

49 893

-8 116

Debt redemption

-30 666

-32 321

-61 597

-44 583

-33 828

   Domestic

-18 216

-7 138

-14 089

-21 710

-22 496

   Foreign

-12 450

-25 183

-47 508

-22 873

-11 332

Pension fund prepayments

-6 875

-6 875

-5 132

-3 650

-3 650

Gross borrowing requirement

-39 172

-29 639

3 691

1 661

-45 594

New borrowing

39 087

27 567

7 734

21 587

58 392

   Domestic

33 367

11 440

7 734

21 345

58 207

   Foreign

5 720

16 127

-

 242

 185

Overall cash balance

- 86

-2 072

11 425

23 248

12 798



Treasury revenue, January – November

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2005

2006

2007

Total taxes and social security contributions

279 390

315 415

352 845

 

21.3

12.9

11.9

Taxes on income and profit

89 310

107 233

123 700

 

24.8

20.1

15.4

Personal income tax

61 599

69 602

75 645

 

10.6

13.0

8.7

Corporate income tax

11 978

22 730

25 016

 

53.0

89.8

10.1

Other taxes on income and profit

15 733

14 900

23 039

 

95.7

-5.3

54.6

Taxes on property

14 381

8 256

10 525

 

31.6

-42.6

27.5

Taxes on goods and services

142 024

160 341

174 937

 

19.6

12.9

9.1

Value added tax

96 785

111 166

123 541

 

21.1

14.9

11.1

Excise tax on motor vehicles

9 378

9 523

9 833

 

67.9

1.5

3.3

Excise tax on petrol

8 261

8 486

8 576

 

5.1

2.7

1.1

Excise on oil

3 993

6 070

6 723

 

-29.7

52.0

10.8

Tobacco and liquor taxes

9 782

10 245

10 745

 

6.6

4.7

4.9

Other taxes on goods and services

13 825

14 852

15 519

 

31.7

7.4

4.5

Taxes on international trade and transactions

3 074

4 131

5 230

 

11.2

34.4

26.6

Other taxes

1 490

1 643

2 805

 

10.2

10.3

70.8

Social security contributions

29 112

33 811

35 649

 

16.4

16.1

5.4

Grants

 357

1 347

1 010

 

-12.9

277.1

-25.0

Other revenue

22 957

20 793

27 679

 

38.3

-9.4

33.1

Sale of assets

58 086

 952

6 957

 

-

-

-

Total revenue

360 790

338 507

388 491

 

45.6

-6.2

14.8

 Treasury expenditure, January – November

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2006

2007

General public services

40 036

34 235

41 157

 

-14.5

20.2

of which: interest

17 203

9 018

11 541

 

-47.6

28.0

Defence

 228

 549

 861

 

141.2

56.9

Health

10 451

12 478

14 299

 

19.4

14.6

Social security and welfare

23 490

39 568

46 450

 

68.4

17.4

Economic affairs

2 735

3 038

3 510

 

11.1

15.5

Education

 376

 364

 397

 

-3.2

9.0

Culture, sports and religion

75 295

76 800

85 016

 

2.0

10.7

Law enforcement, justice, security

11 212

12 574

14 141

 

12.1

12.5

Environmental protection

27 402

31 267

35 098

 

14.1

12.3

Housing, zoning and utilities

60 357

66 351

78 188

 

9.9

17.8

Irregular expenditure

11 635

7 686

7 809

 

-33.9

1.6

Total expenditure

263 216

284 909

326 925

 

8.2

14.7



 

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.