In the 2nd quarter of 2017 the financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to a surplus of 12.9 billion ISK or 2.1% of quarterly GDP and 4.8% of general government total revenue. Last year the surplus in the 2nd quarter amounted to 2.2% of quarterly GDP. In the first half of 2017 the surplus amounts to 35.0 billion ISK or 6.5% of general government total revenue.
Due to changes in source data that have taken place in connection with the implementation of the Act on Public Finance, uncertainty in public sector accounts is greater now than under normal circumstances. The results of public finances in Q2 are therefore presented subject to changes that may be due to more information.
Quarterly government accounts, 2nd quarter 2017 - Statistical Series