Government Spending in Iceland decreased to 156606 ISK Million in the first quarter of 2021 from 162886 ISK Million in the fourth quarter of 2020. source: Statistics Iceland

Government Spending in Iceland averaged 68011.68 ISK Million from 1997 until 2021, reaching an all time high of 162886 ISK Million in the fourth quarter of 2020 and a record low of 43717 ISK Million in the first quarter of 1997. This page provides - Iceland Government Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Government Spending - values, historical data and charts - was last updated on June of 2021.

Government Spending in Iceland is expected to be 90396.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Spending in Iceland to stand at 165329.00 in 12 months time. In the long-term, the Iceland Government Spending is projected to trend around 167809.00 ISK Million in 2022 and 172172.00 ISK Million in 2023, according to our econometric models.

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Iceland Government Spending

Actual Previous Highest Lowest Dates Unit Frequency
156606.00 162886.00 162886.00 43717.00 1997 - 2021 ISK Million Quarterly
Constant Prices 2005, NSA

Iceland Government Last Previous Highest Lowest Unit
Government Debt to GDP 37.00 37.40 92.10 23.03 percent of GDP [+]
Government Budget -7.30 -1.50 12.50 -12.10 percent of GDP [+]
Government Budget Value -58.10 -33.20 373.20 -206.30 ISK Billion [+]
Government Spending 156606.00 162886.00 162886.00 43717.00 ISK Million [+]
Government Spending to GDP 49.70 43.40 63.40 34.10 percent of GDP [+]
Government Revenues 316.40 360.50 620.20 96.70 ISK Billion [+]
Fiscal Expenditure 374.50 393.60 393.60 97.80 ISK Billion [+]
Credit Rating 75.00 [+]
Asylum Applications 30.00 20.00 255.00 5.00 persons [+]


Iceland Government Spending
Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth.