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Ministry of Finance and Economic Affairs

Treasury finances January-February 2009

  • Treasury finances January-February 2009 (PDF 53K)

  • Cash Flow Statement in January–February 2005–2009

      Millions of krónur
    2005 2006 2007 2008 2009
    Revenue
    60 718
    72 244
    87 597
    96 555
    90 587
    Expenditure
    47 897
    47 897
    56 895
    60 274
    80 450
    Current
    balance
    12 821
    22 277
    30 702
    36 281
    10 136
    Receipts from
    sale of fixed assets.
    -
    -
    -
    -
    -
    Other cash
    payments / receipts
    1 117
    1 084
    - 570
    -1 302
    1 917
    Cash flows
    from opera-
    tions
    13 938
    23 361
    30 133
    34 979
    12 053
    Financial
    transactions
    4 011
    -2 469
    -31 733
    -2 312
    -2 279
    Net financial
    balance
    17 948
    20 892
    -1 601
    32 668
    9 774
    Debt re-
    demption
    -11 215
    -8 064
    -20 583
    - 808
    -1 327
    Domestic
    -2 216
    -8 058
    -20 583
    - 704
    -1 327
    Foreign
    -9 000
    - 6
    -
    - 104
    -
    Pension fund prepayments
    - 500
    - 660
    - 660
    - 660
    -
    Gross borrow-
    ing requirement
    6 233
    12 168
    -22 844
    31 201
    8 447
    New borrowing
    1 016
    1 532
    38 519
    2 327
    32 389
    Domestic
    -3 931
    1 532
    38 519
    2 327
    32 684
    Foreign
    4 947
    -
    -
    -
    - 295
    Overall cash
    balance
    7 249
    13 700
    15 676
    33 529
    40 836

    Treasury revenue in January– February 2007–2009

    Millions of krónur
    Change from previous year (%)
    2007
    2008
    2009
    2007
    2008
    2009
    Total taxes and social security contributions
    82 517
    91 056
    84 983
    20.4
    10.3
    -6.7
    Taxes on income and profit
    39 781
    45 216
    46 205
    19.7
    13.7
    2.2
    Personal income tax
    15 537
    15 741
    15 498
    15.9
    1.3
    -1.5
    Corporate income tax
    3 280
    2 954
    2 160
    -45.0
    -9.9
    -26.9
    Other taxes on income and profit
    20 964
    26 521
    28 547
    51.3
    26.5
    7.6
    Taxes on property
    1 703
    1 655
    833
    -15.5
    -2.9
    -49.6
    Taxes on goods and services
    33 511
    35 809
    30 144
    24.2
    6.9
    -15.8
    Value added tax
    24 718
    25 084
    22 260
    36.3
    1.5
    -11.3
    Excise tax
    on motor vehicles
    1 063
    2 472
    201
    -34.3
    132.5
    -91.9
    Excise tax
    on petrol
    1 331
    1 391
    1 489
    -7.7
    4.5
    7.0
    Excise on oil
    1 320
    1 403
    1 162
    14.4
    6.3
    -17.1
    Tobacco and liquor taxes
    1 764
    1 776
    1 853
    6.5
    0.7
    4.4
    Other taxes on goods and services
    3 316
    3 684
    3 179
    11.6
    11.1
    -13.7
    Taxes on international trade and transactions
    779
    1 158
    1 072
    115.4
    48.7
    -7.4
    Other taxes
    170
    322
    409
    52.0
    89.3
    26.8
    Social security contributions
    6 572
    6 896
    6 319
    12.2
    4.9
    -8.4
    Grants
    95
    17
    20
    -14.7
    -81.9
    14.1
    Other revenue
    4 671
    5 364
    5 583
    30.8
    14.9
    4.1
    Sale of assets
    314
    117
    1
    -
    -
    1.0
    Total revenue
    87 597
    96 555
    90 587
    21.3
    10.2
    -6.2

    Treasury expenditure in January– February 2007–2009

    Millions of krónur
    Change from previous year, %
    2007
    2008
    2009
    2008
    2009
    General public services
    6 184
    6 833
    14 894
    10.5
    118.0
    of which: interest
    912
    788
    7 012
    -13.6
    789.8
    Defence
    105
    244
    205
    132.6
    -16.1
    Law enforcement, justice, security
    2 520
    2 664
    2 768
    5.7
    3.9
    Economic affairs
    7 288
    6 840
    9 151
    -6.1
    33.8
    Environmental protection
    591
    596
    418
    0.8
    -29.9
    Housing, zoning and utilities
    80
    88
    26
    10.6
    -70.2
    Health
    14 261
    15 637
    17 853
    9.7
    14.2
    Culture, sports and religion
    3 114
    3 355
    3 304
    7.7
    -1.5
    Education
    7 823
    9 049
    10 185
    15.7
    12.6
    Social security and welfare
    13 404
    13 728
    20 061
    2.4
    46.1
    Irregular expenditure
    1 143
    1 240
    1 585
    8.5
    27.8
    Total expenditure
    56 514
    60 274
    80 450
    6.7
    33.5

    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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Economic affairs and public finances

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