Treasury finances January-December 2008
Cash Flow Statement in January–December 2004–2008
| Millions of krónur | |||||
|---|---|---|---|---|---|
| 2005 | 2006 | 2007 | 2008 | 2009 | |
| Revenue | 280 696 | 399 289 | 381 336 | 454 066 | 444 751 |
| Expenditure | 280 382 | 308 382 | 314 716 | 369 583 | 643 935 |
| Current balance |
315 | 90 905 | 66 619 | 84 483 | -199 184 |
| Receipts from sale of fixed assets. |
- | -57 605 | - 384 | -6 170 | - 40 |
| Other cash payments / receipts |
- 607 | -1 286 | - 516 | -17 355 | 186 915 |
| Cash flows from opera- tions |
- 292 | 32 014 | 65 719 | 60 958 | -12 310 |
| Financial transactions |
22 700 | 49 874 | -91 154 | -63 102 | -386 106 |
| Net financial balance |
22 408 | 81 888 | -25 435 | -2 144 | -398 416 |
| Debt re- demption |
-32 477 | -62 305 | -46 097 | -33 837 | -120 625 |
| Domestic | -7 291 | -14 596 | -23 223 | -22 505 | -104 713 |
| Foreign | -25 186 | -47 709 | -22 873 | -11 332 | -15 912 |
| Pension fund prepayments | -7 500 | -5 482 | -4 000 | -12 500 | -4 000 |
| Gross borrow- ing requirement |
-17 569 | 14 101 | -75 531 | -48 481 | -523 041 |
| New borrowing | 25 867 | 10 234 | 115 713 | 58 939 | 601 955 |
| Domestic | 9 740 | 10 234 | 25 892 | 58 754 | 558 118 |
| Foreign | 16 127 | - | 89 821 | 185 | 43 837 |
| Overall cash balance |
8 298 | 24 335 | 40 182 | 10 457 | 78 914 |
Treasury revenue in January– December 2006–2008
|
Millions of krónur |
Change from previous year (%) |
|||||
|---|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2006 |
2007 |
2008 |
|
| Total taxes and social security contributions |
354 209 |
395 384 |
391 027 |
12.5 |
11.6 |
-1.1 |
| Taxes on income and profit |
126 192 |
143 937 |
152 935 |
24.5 |
14.1 |
6.3 |
| Personal income tax |
78 228 |
83 933 |
88 040 |
13.3 |
7.3 |
4.9 |
| Corporate income tax |
31 369 |
34 790 |
29 539 |
103.9 |
10.9 |
-15.1 |
| Other taxes on income and profit |
16 595 |
25 214 |
35 355 |
-1.8 |
51.9 |
40.2 |
| Taxes on property |
9 172 |
11 834 |
7 936 |
-38.5 |
29.0 |
-32.9 |
| Taxes on goods and services |
175 692 |
192 086 |
179 444 |
9.0 |
9.3 |
-6.6 |
| Value added tax |
122 400 |
135 388 |
127 387 |
10.1 |
10.6 |
-5.9 |
| Excise tax on motor vehicles |
10 230 |
11 005 |
7 345 |
-0.2 |
7.6 |
-33.3 |
| Excise tax on petrol |
8 995 |
9 168 |
8 738 |
2.4 |
1.9 |
-4.7 |
| Excise on oil |
6 553 |
7 292 |
7 280 |
63.2 |
11.3 |
-0.2 |
| Tobacco and liquor taxes |
11 371 |
11 949 |
11 958 |
7.7 |
5.1 |
0.1 |
| Other taxes on goods and services |
16 142 |
17 284 |
16 737 |
-1.6 |
7.1 |
-3.2 |
| Taxes on international trade and transactions |
4 170 |
5 297 |
5 693 |
20.0 |
27.0 |
7.5 |
| Other taxes |
1 758 |
3 081 |
3 946 |
7.2 |
75.3 |
28.1 |
| Social security contributions |
37 226 |
39 150 |
41 072 |
15.4 |
5.2 |
4.9 |
| Grants |
1 668 |
927 |
1 026 |
119.6 |
-44.4 |
10.7 |
| Other revenue |
24 506 |
37 354 |
49 783 |
-2.7 |
52.4 |
33.3 |
| Sale of assets |
953 |
20 401 |
2 915 |
- |
- |
- |
| Total revenue |
381 336 |
454 066 |
444 751 |
-4.5 |
19.1 |
-2.1 |
Treasury expenditure in January– December 2006–2008
|
Millions of krónur |
Change from previous year, % |
||||
|---|---|---|---|---|---|
|
2006 |
2007 |
2008 |
2007 |
2008 |
|
| General public services |
44 249 |
52 259 |
68 097 |
18.1 |
30.3 |
| of which: interest |
14 908 |
17 090 |
27 463 |
14.6 |
60.7 |
| Defence |
746 |
977 |
1 616 |
30.9 |
65.5 |
| Law enforcement, justice, security |
13 561 |
15 802 |
19 325 |
16.5 |
22.3 |
| Economic affairs |
43 622 |
52 759 |
67 685 |
20.9 |
28.3 |
| Environmental protection |
3 509 |
4 040 |
4 656 |
15.1 |
15.2 |
| Housing, zoning and utilities |
488 |
544 |
744 |
11.4 |
36.9 |
| Health |
85 959 |
93 314 |
109 240 |
8.6 |
17.1 |
| Culture, sports and religion |
14 627 |
15 906 |
17 423 |
8.7 |
9.5 |
| Education |
33 789 |
37 837 |
43 192 |
12.0 |
14.2 |
| Social security and welfare |
73 486 |
86 628 |
109 297 |
17.9 |
26.2 |
| Irregular expenditure |
23 277 |
9 518 |
202 660 |
-59.1 |
2,029.1 |
| Total expenditure |
337 311 |
369 583 |
643 935 |
9.6 |
74.2 |
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.