Treasury finances January-September 2008
Cash Flow Statement in January–September 2004–2008
| 2004 | 2005 | 2006 | 2007 | 2008 | |
|---|---|---|---|---|---|
| Revenue | 201 207 | 305 378 | 277 246 | 320 820 | 332 406 |
| Expenditure | 212 932 | 233 596 | 233 632 | 268 624 | 318 569 |
| Current balance |
-11 725 | 71 782 | 43 614 | 52 196 | 13 837 |
| Receipts from sale of fixed assets. |
- | -56 755 | - | - 33 | - 39 |
| Other cash payments / receipts |
1 320 | - 446 | 258 | -3 578 | 5 402 |
| Cash flows from operations |
-10 405 | 14 581 | 43 872 | 48 584 | 19 200 |
| Financial transactions |
7 969 | 45 165 | -2 245 | -66 480 | 8 540 |
| Net financial balance |
-2 436 | 59 746 | 41 627 | -17 896 | 27 740 |
| Debt re demption |
-30 843 | -47 939 | -38 071 | -33 483 | -45 486 |
| Domestic | -5 676 | -14 056 | -15 198 | -22 251 | -30 019 |
| Foreign | -25 166 | -33 883 | -22 873 | -11 232 | -15 467 |
| Pension fund prepayments | -5 625 | -2 950 | -2 970 | -2 970 | -2 970 |
| Gross borrow- ing requirement |
-38 904 | 8 857 | 586 | -54 349 | -20 716 |
| New borrowing | 40 679 | 11 698 | 24 978 | 58 453 | 208 397 |
| Domestic | 17 430 | 11 698 | 20 362 | 58 277 | 101 710 |
| Foreign | 23 249 | - | 4 616 | 176 | 106 687 |
| Overall cash balance |
1 775 | 20 555 | 25 564 | 4 105 | 187 681 |
Treasury revenue in January–September 2006–2008
|
Millions of krónur |
Change from previous year (%) |
|||||
|---|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2006 |
2007 |
2008 |
|
| Total taxes and social security contributions |
260 030 |
291 147 |
301 522 |
13.8 |
12.0 |
3.6 |
| Taxes on income and profit |
88 400 |
104 282 |
115 250 |
19.6 |
18.0 |
10.5 |
| Personal income tax |
54 830 |
60 656 |
64 054 |
12.1 |
10.6 |
5.6 |
| Corporate income tax |
17 117 |
18 681 |
19 592 |
109.3 |
9.1 |
4.9 |
| Other taxes on income and profit |
16 452 |
24 945 |
31 604 |
-2.4 |
51.6 |
26.7 |
| Taxes on property |
6 897 |
8 426 |
6 143 |
-36.6 |
22.2 |
-27.1 |
| Taxes on goods and services |
132 458 |
142 590 |
141 250 |
14.1 |
7.6 |
-0.9 |
| Value added tax |
91 137 |
99 563 |
99 015 |
16.3 |
9.2 |
-0.6 |
| Excise tax on motor vehicles |
8 256 |
8 085 |
6 711 |
5.1 |
-2.1 |
-17.0 |
| Excise tax on petrol |
6 904 |
7 076 |
6 848 |
1.1 |
2.5 |
-3.2 |
| Excise on oil |
4 994 |
5 572 |
5 687 |
27.8 |
11.6 |
2.1 |
| Tobacco and liquor taxes |
8 437 |
8 803 |
8 940 |
4.3 |
4.3 |
1.6 |
| Other taxes on goods and services |
12 730 |
13 491 |
14 049 |
15.1 |
6.0 |
4.1 |
| Taxes on international trade and transactions |
3 311 |
4 178 |
4 802 |
34.8 |
26.2 |
14.9 |
| Other taxes |
1 461 |
2 525 |
3 187 |
9.0 |
72.8 |
26.2 |
| Social security contributions |
27 504 |
29 146 |
30 890 |
16.0 |
6.0 |
6.0 |
| Grants |
885 |
853 |
331 |
175.7 |
-3.6 |
-61.2 |
| Other revenue |
15 783 |
21 890 |
27 797 |
-19.1 |
38.7 |
27.0 |
| Sale of assets |
547 |
6 930 |
2 756 |
- |
- |
- |
|
277 |
320 |
332 |
- |
- |
- |
|
| Total revenue |
246 |
820 |
406 |
-9.2 |
15.7 |
3.6 |
Treasury expenditure in January–September 2006–2008
|
Millions of krónur |
Change from previous year, % |
||||
|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2007 |
2008 |
|
| General public services | 29 003 | 35 667 | 43 939 | 23.0 | 23.2 |
| of which: interest | 7 865 | 11 218 | 13 713 | 42.0 | 22.2 |
| Defence | 450 | 593 | 810 | 31.7 | 36.6 |
| Law enforcement, justice, security | 10 045 | 11 834 | 14 681 | 17.8 | 24.1 |
| Economic affairs | 31 959 | 36 206 | 47 242 | 13.3 | 30.5 |
| Environmental protection | 2 512 | 2 947 | 3 242 | 17.3 | 10.0 |
| Housing, zoning and utilities | 299 | 320 | 401 | 6.8 | 25.5 |
| Health | 62 484 | 69 416 | 77 533 | 11.1 | 11.7 |
| Culture, sports and religion | 10 194 | 11 645 | 12 625 | 14.2 | 8.4 |
| Education | 26 153 | 28 947 | 32 596 | 10.7 | 12.6 |
| Social security and welfare | 54 806 | 64 584 | 78 848 | 17.8 | 22.1 |
| Irregular expenditure | 4 755 | 6 466 | 6 652 | 36.0 | 2.9 |
| Total expenditure | 232 660 | 268 624 | 318 569 | 15.5 | 18.6 |
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.