Treasury finances January-October 2008
Cash Flow Statement in January–October 2004–2008
| Millions of krónur | |||||
|---|---|---|---|---|---|
| 2004 | 2005 | 2006 | 2007 | 2008 | |
| Revenue |
228 745 |
336 643 |
308 354 |
353 950 |
369 397 |
| Expenditure |
233 304 |
256 585 |
258 824 |
295 857 |
355 813 |
| Current balance |
-4 558 |
80 058 |
49 530 |
58 093 |
13 584 |
| Receipts from sale of fixed assets. |
- |
-58 033 |
- 384 |
-6 170 |
- 39 |
| Other cash payments / receipts |
1 710 |
-1 731 |
- 356 |
- 695 |
10 644 |
| Cash flows from operations |
-2 848 |
20 294 |
48 791 |
51 229 |
24 189 |
| Financial transactions |
9 273 |
48 377 |
-2 006 |
-63 097 |
5 984 |
| Net financial balance |
6 425 |
68 671 |
46 785 |
-11 868 |
30 173 |
| Debt re- demption |
-30 856 |
-61 557 |
-41 565 |
-33 503 |
-45 934 |
| Domestic |
-5 678 |
-14 064 |
-18 692 |
-22 271 |
-30 022 |
| Foreign |
-25 178 |
-47 493 |
-22 873 |
-11 232 |
-15 912 |
| Pension fund prepayments |
-6 250 |
-3 300 |
-3 300 |
-3 300 |
-3 300 |
| Gross borrow- ing requirement |
-30 681 |
3 814 |
1 920 |
-48 671 |
-19 061 |
| New borrowing |
30 408 |
9 048 |
25 961 |
58 383 |
198 081 |
| Domestic |
13 136 |
9 048 |
21 345 |
58 206 |
101 710 |
| Foreign |
17 272 |
- |
4 616 |
177 |
96 370 |
| Overall cash balance |
- 272 |
12 862 |
27 882 |
9 712 |
179 020 |
Treasury revenue in January–October 2006–2008
|
Millions of krónur |
Change from previous year (%) |
|||||
|---|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2006 |
2007 |
2008 |
|
| Total taxes and social security contributions | 287 295 | 322 065 | 334 021 | 11.8 | 12.1 | 3.7 |
| Taxes on income and profit | 97 368 | 114 169 | 128 755 | 19.9 | 17.3 | 12.8 |
| Personal income tax | 62 249 | 68 579 | 72 070 | 13.1 | 10.2 | 5.1 |
| Corporate income tax | 17 129 | 18 563 | 20 458 | 103.0 | 8.4 | 10.2 |
| Other taxes on income and profit | 17 990 | 27 027 | 36 227 | 1.4 | 50.2 | 34.0 |
| Taxes on property | 7 627 | 9 527 | 6 725 | -37.0 | 24.9 | -29.4 |
| Taxes on goods and services | 146 878 | 159 047 | 155 999 | 10.3 | 8.3 | -1.9 |
| Value added tax | 101 916 | 111 902 | 110 185 | 11.5 | 9.8 | -1.5 |
| Excise tax on motor vehicles |
8 883 | 8 873 | 7 130 | 3.2 | -0.1 | -19.6 |
| Excise tax on petrol |
7 436 | 7 637 | 7 403 | -0.4 | 2.7 | -3.1 |
| Excise on oil | 5 577 | 6 141 | 6 259 | 41.2 | 10.1 | 1.9 |
| Tobacco and liquor taxes | 9 291 | 9 745 | 9 860 | 3.8 | 4.9 | 1.2 |
| Other taxes on goods and services | 13 776 | 14 747 | 15 162 | 7.5 | 7.0 | 2.8 |
| Taxes on international trade and transactions | 3 357 | 4 359 | 4 876 | 21.0 | 29.8 | 11.8 |
| Other taxes | 1 504 | 2 586 | 3 333 | 8.6 | 72.0 | 28.9 |
| Social security contributions | 30 560 | 32 377 | 34 333 | 16.6 | 5.9 | 6.0 |
| Grants | 1 207 | 973 | 339 | 255.8 | -19.4 | -65.2 |
| Other revenue | 19 072 | 25 023 | 32 261 | -10.9 | 31.2 | 28.9 |
| Sale of assets | 781 | 6 931 | 2 776 | - | - | - |
| 308 | 354 | 369 | - | - | - | |
| Total revenue | 354 | 991 | 397 | -8.4 | 15.1 | 4.1 |
Treasury expenditure in January–October 2006–2008
|
Millions of krónur |
Change from previous year, % |
||||
|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2007 |
2008 |
|
| General public services |
31 847 |
38 250 |
47 126 |
20.1 |
23.2 |
| of which: interest |
8 592 |
11 536 |
13 747 |
34.3 |
19.2 |
| Defence |
487 |
687 |
921 |
41.0 |
34.1 |
| Law enforcement, justice, security |
11 262 |
13 115 |
16 179 |
16.5 |
23.4 |
| Economic affairs |
35 695 |
41 207 |
53 328 |
15.4 |
29.4 |
| Environmental protection |
2 835 |
3 324 |
3 651 |
17.3 |
9.8 |
| Housing, zoning and utilities |
333 |
351 |
445 |
5.3 |
26.8 |
| Health |
69 424 |
77 209 |
87 678 |
11.2 |
13.6 |
| Culture, sports and religion |
11 422 |
13 122 |
14 098 |
14.9 |
7.4 |
| Education |
28 528 |
31 991 |
35 963 |
12.1 |
12.4 |
| Social security and welfare |
59 331 |
70 084 |
88 904 |
18.1 |
26.9 |
| Irregular expenditure |
5 478 |
7 124 |
7 520 |
30.0 |
5.6 |
| Total expenditure |
256 642 |
296 464 |
355 813 |
15.5 |
20.0 |
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.