Government Spending in Iceland increased to 83085 ISK Million in the second quarter of 2020 from 78582 ISK Million in the first quarter of 2020.

Government Spending in Iceland averaged 65103.85 ISK Million from 1997 until 2020, reaching an all time high of 83594 ISK Million in the fourth quarter of 2019 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 October of 2020.

Government Spending in Iceland is expected to be 76971.00 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 90396.00 in 12 months time. In the long-term, the Iceland Government Spending is projected to trend around 81454.00 ISK Million in 2021 and 83572.00 ISK Million in 2022, according to our econometric models.

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Iceland Government Spending

Actual Previous Highest Lowest Dates Unit Frequency
83085.00 78582.00 83594.00 43717.00 1997 - 2020 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 [+]
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 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.