Iceland recorded a Government Budget surplus equal to 1.10 percent of the country's Gross Domestic Product in 2018. Government Budget in Iceland averaged -1.32 percent of GDP from 1980 until 2018, reaching an all time high of 12.40 percent of GDP in 2016 and a record low of -12.90 percent of GDP in 2008.

Government Budget in Iceland is expected to be 1.00 percent of GDP by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Government Budget is projected to trend around 0.90 percent of GDP in 2020, according to our econometric models.

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Iceland Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.50 12.40 -12.90 1980 - 2018 percent of GDP Yearly

Iceland Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.

Iceland Government Last Previous Highest Lowest Unit
Government Debt to GDP 37.70 43.10 92.10 23.03 percent [+]
Government Budget 1.10 0.50 12.40 -12.90 percent of GDP [+]
Government Budget Value 6.10 1.90 373.20 -206.30 ISK Billion [+]
Government Spending 77006.00 79759.00 79759.00 43717.00 ISK Million [+]
Government Spending to GDP 41.70 43.30 54.50 34.10 percent [+]
Government Revenues 308.50 287.70 620.20 96.70 ISK Billion [+]
Fiscal Expenditure 302.30 285.80 370.50 97.80 ISK Billion [+]
Credit Rating 73.00 [+]
Asylum Applications 75.00 70.00 255.00 5.00 persons [+]