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Ministry of Finance and Economic Affairs

Treasury finances January-May 2006

Cash Flow Statement, January – May 2006

Millions of krónur

2002

2003

2004

2005

2006

Revenue

91,868

108,695

109,190

136,556

155,065

Expenditure

100,746

106,315

113,248

126,546

126,171

Current balance

-8,878

2,380

-4,057

10,009

28,894

Receipts from sale of fixed assets

-

-12,059

-

-

-

Other cash payments / receipts

-1,462

173

1,110

1,557

-613

Cash flows from operations

-10,340

-9,506

-2,947

11,566

28,281

Financial transactions

2,173

16,858

3,428

6,537

-2,428

Net financial balance

-8,167

7,352

481

18,102

25,853

Debt redemption

-18,348

-17,929

-28,389

-29,994

-38,104

Domestic

-8,207

-5,521

-3,389

-13,770

-15,231

  Foreign

-10,141

-12,408

-25,000

-16,224

-22,873

Pension fund prepayments

-3,750

-3,125

-3,125

-1,550

-1,650

Gross borrowing requirement

-30,265

-13,702

-31,033

-13,442

-13,901

New borrowing

28,324

16,540

40,861

9,273

11,010

   Domestic

9,035

15,160

17,318

4,005

2,910

   Foreign

19,289

1,380

23,544

5,268

8,100

Overall cash balance

-1,941

2,838

9,828

-4,168

-2,890

 

Treasury revenue, January – May 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2004

2005

2006

Total taxes and social contributions

101 481

121 223

145 768

 

15.4

19.5

20.2

Taxes on income and profit

35 893

42 189

55 847

 

17.3

17.5

32.4

Personal income tax

25 873

28 494

31 711

 

10.7

10.1

11.3

Corporate income tax

3 721

3 963

10 214

 

169.0

6.5

157.7

Other taxes on income and profit

6 298

9 732

13 922

 

7.5

54.5

43.1

Taxes on property

3 942

6 276

4 740

 

15.6

59.2

-24.5

Taxes on goods and services

49 399

58 435

68 517

 

14.1

18.3

17.3

Value added tax

33 100

39 683

46 799

 

16.1

19.9

17.9

Excise tax on motor vehicles

2 297

4 017

5 009

 

44.6

74.9

24.7

Excise tax on petrol

3 333

3 514

3 471

 

14.7

5.4

-1.2

Excise on oil

2 186

2 535

2 489

 

15.1

16.0

-1.8

Tobacco and liquor taxes

3 841

4 106

4 242

 

2.1

6.9

3.3

Other taxes on goods and services

4 643

4 580

6 506

 

0.1

-1.3

42.1

Taxes on international trade and

transactions

1 140

1 233

1 567

 

12.0

8.1

27.1

Other taxes

217

273

315

 

.

26.0

15.0

Social contributions

10 890

12 817

14 782

 

14.1

17.7

15.3

Grants

166

209

268

 

-42.5

26.0

28.3

Other revenue

7 541

15 053

8 742

 

-9.7

99.6

-41.9

Saleof assets

2

70

287

 

-

-

-

Total revenue

109 190

136 555

155 065

 

0.5

25.1

13.6



 

 

Treasury expenditure, January – May 2006

 

In millions of krónur

 

Change from previous year in per cent

 

2004

2005

2006

 

2005

2006

General public services

10 527

28 501

21 771

 

170.7

-23.6

of which: interest

8 406

14 066

6 389

 

67.3

-54.6

Health

17 146

32 614

34 526

 

90.2

5.9

Social security and welfare

15 084

27 193

29 011

 

80.3

6.7

Economic affairs

8 535

15 366

15 329

 

80.0

-0.2

Education

7 446

12 565

13 946

 

68.8

11.0

Culture, sports and religion

3 271

5 331

5 893

 

63.0

10.5

Law enforcement, justice, security

2 141

3 625

4 324

 

69.3

19.3

Environmental protection

842

1 183

1 187

 

40.5

0.4

Housing, zoning and utilities

48

169

183

 

253.7

8.4

Total expenditure

65 039

126 546

126 171

 

94.6

-0.3



 

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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