Iceland recorded a Government Budget deficit equal to 1 percent of the country's Gross Domestic Product in 2019.

Government Budget in Iceland averaged -1.32 percent of GDP from 1980 until 2019, 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. 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 July of 2020.

Government Budget in Iceland is expected to reach -8.40 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Government Budget is projected to trend around -9.90 percent of GDP in 2021 and -6.20 percent of GDP in 2022, according to our econometric models.

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Iceland Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-1.00 0.80 12.40 -12.90 1980 - 2019 percent of GDP Yearly

Iceland Government Last Previous Highest Lowest Unit
Government Debt to GDP 37.00 37.40 92.10 23.03 percent [+]
Government Budget -1.00 0.80 12.40 -12.90 percent of GDP [+]
Government Budget Value -8.30 -12.10 373.20 -206.30 ISK Billion [+]
Government Spending 78789.00 83258.00 83258.00 43717.00 ISK Million [+]
Government Spending to GDP 41.90 42.30 54.50 34.10 percent [+]
Government Revenues 320.20 302.60 620.20 96.70 ISK Billion [+]
Fiscal Expenditure 328.50 314.80 370.50 97.80 ISK Billion [+]
Credit Rating 75.00 [+]
Asylum Applications 5.00 5.00 255.00 5.00 persons [+]


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.