Iceland recorded a Government Budget deficit equal to 7.30 percent of the country's Gross Domestic Product in 2020. source: Icelandic Ministry of Finance

Government Budget in Iceland averaged -1.17 percent of GDP from 1980 until 2020, reaching an all time high of 12.50 percent of GDP in 2016 and a record low of -12.10 percent of GDP in 2008. This page provides - Iceland Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Government Budget - values, historical data and charts - was last updated on October of 2021.

Government Budget in Iceland is expected to reach -9.90 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Government Budget is projected to trend around -8.70 percent of GDP in 2022 and -6.20 percent of GDP in 2023, according to our econometric models.

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Iceland Government Budget


Iceland Last Unit Reference Previous Highest Lowest
Government Budget -7.30 percent of GDP Dec/20 -1.50 12.50 -12.10


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.