Iceland recorded a government budget deficit of 78.40 ISK Billion in the second quarter of 2020.

Government Budget Value in Iceland averaged -5.18 ISK Billion from 2004 until 2020, reaching an all time high of 373.20 ISK Billion in the first quarter of 2016 and a record low of -206.30 ISK Billion in the fourth quarter of 2008. This page provides - Iceland Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. Iceland Government Budget Value - values, historical data and charts - was last updated on October of 2020.

Government Budget Value in Iceland is expected to be 8.81 ISK Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Iceland to stand at 9.13 in 12 months time. In the long-term, the Iceland Government Budget Value is projected to trend around 9.17 ISK Billion in 2021, according to our econometric models.

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Iceland Government Budget Value

Actual Previous Highest Lowest Dates Unit Frequency
-78.40 -32.20 373.20 -206.30 2004 - 2020 ISK Billion Quarterly
Current Prices, NSA

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 -78.40 -32.20 373.20 -206.30 ISK Billion [+]
Government Spending 83085.00 78582.00 83594.00 43717.00 ISK Million [+]
Government Spending to GDP 41.90 42.30 54.50 34.10 percent [+]
Government Revenues 279.70 268.10 620.20 96.70 ISK Billion [+]
Fiscal Expenditure 358.00 300.30 370.50 97.80 ISK Billion [+]
Credit Rating 75.00 [+]
Asylum Applications 60.00 95.00 255.00 0.00 persons [+]


Iceland Government Budget Value
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.