In the 3rd quarter of 2014, the financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to 0.3 billion ISK in surplus or 0.1% of quarterly GDP and 0.1% of general government total revenue.

This can be compared with 0.4 billion ISK surplus in the 3rd quarter of 2013 or 0.2% of GDP in that quarter. In the first nine months of the year there is a surplus of 15.5 billion ISK in the balance that can mainly be explained by increased dividends from Landsbankinn Bank to it’s main owner, the central government.

The general government total revenue has increased by 4.9% between the 3rd quarters of 2013 and 2014. The total expenditure increased at the same time by 5.0% mainly owing to increase in wages and gross capital formation.

Quarterly government accounts, 3rd quarter 2014 - Statistical Series