Hoppa yfir valmynd
Ministry of Finance and Economic Affairs

Treasury finances January 2007

Cash Flow Statement, January

Millions of krónur

 

2003

2004

2005

2006

2007

Revenue

19 202

24 204

29 894

41 132

51 786

Expenditure

19 485

24 737

25 338

25 508

28 206

Current balance

-283

-533

4.556

15 624

23 580

Receipts from sale of fixed assets

-

-672

-

-

-

Other cash payments / receipts

-3 359

-590

-1 901

-1 698

-3 794

Cash flows from operations

-3 642

-1 795

2 655

13 926

19 787

Financial transactions

644

204

3 219

-1 077

-30 136

Net financial balance

-2 998

-1 591

5 874

12 849

-10 349

Debt redemption

-324

-17

-11 135

-4 049

-51

   Domestic

-324

-17

-2 142

-4 049

-51

   Foreign

-

-

-8 994

-

-

Pension fund prepayments

-625

-625

-

-330

-330

Gross borrowing requirement

-3 964

-2 233

-5 261

8 470

-10 730

New borrowing

5 964

7 674

5 563

1 532

31 861

   Domestic

5 979

8 012

-3 431

1 532

31 861

   Foreign

-14

-338

8.994

-

-

Overall cash balance

2 017

5 442

302

10 002

21 131



 

Treasury revenue, January

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2005

2006

2007

Total taxes and social security contributions

28 367

39 043

49 532

 

28.8

37.6

26.9

Taxes on income and profit

16 492

25 445

29 976

 

35.2

54.3

17.8

Personal income tax

7 247

7 766

8 714

 

17.9

7.2

12.2

Corporate income tax

397

4 143

1 232

 

24.4

942.5

-70.3

Other taxes on income and profit

8 848

13 535

20 030

 

54.4

53.0

48.0

Taxes on property

729

810

594

 

60.7

11.2

-26.8

Taxes on goods and services

8 164

9 324

14 560

 

15.6

14.2

56.2

Value added tax

4 908

5 370

10 560

 

11.9

9.4

96.6

Excise tax on motor vehicles

607

732

441

 

90.9

20.6

-39.7

Excise tax on petrol

818

834

814

 

4.6

2.0

-2.5

Excise on oil

236

451

516

 

26.2

91.1

14.4

Tobacco and liquor taxes

793

830

865

 

-2,5

4,6

4,3

Other taxes on goods and services

802

1 107

1 364

 

38.7

38.0

23.2

Taxes on international trade and transactions

236

295

748

 

-11.2

24.8

153.8

Other taxes

41

57

56

 

.

39.2

-1.3

Social security contributions

2 705

3 111

3 598

 

34.4

15.0

15.7

Grants

54

38

35

 

1,514.6

-29.6

-8.0

Other revenue

1 473

2 037

2 219

 

-2.7

38.3

8.9

Sale of assets

-0

14

-

 

-

-

-

Total revenue

29 894

41 132

51 786

 

27.0

37.6

25.9

 

Treasury expenditure, January

 

Millions of krónur

 

Change from previous year in per cent

 

2005

2006

2007

 

2006

2007

General public services

...

3 003

3 522

 

...

17.3

of which: interest

2.191

512

499

 

-76.6

-2.4

Defence

...

136

28

 

...

-79.5

Health

...

820

1 130

 

...

37.8

Social security and welfare

...

2 590

3 491

 

...

34.8

Economic affairs

...

210

224

 

...

6.6

Education

...

43

32

 

...

-26.6

Culture, sports and religion

...

7 110

7 489

 

...

5.3

Law enforcement, justice, security

...

1 422

1 675

 

...

17.8

Environmental protection

...

4 545

4 693

 

...

3.3

Housing, zoning and utilities

...

5 161

5 325

 

...

3.2

Irregular expenditure

...

468

599

 

...

28.0

Total expenditure

25 338

25 508

28 206

 

0.7

10.6



 

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.

 



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