General government finances, preliminary accounts
In 2014, the financial balance of the general government was 3 billion ISK in deficit or 0.2% of GDP, which can be compared with a deficit of 32 billion ISK in 2013 or 1.7% of GDP. The reduced deficit in 2014 can be explained by 13.3% increase in revenue and 9.3% increase in expenditure. The general government total revenue in 2014 of 903 billion ISK amounted to 45.3% of GDP, compared with 42.4% in 2013.
