In 2013, the financial balance of the general government was 32 billion ISK in deficit or 1.7% of GDP, which can be compared with a deficit of 3.7% of GDP for 2012. The reduced deficit in 2013 can be explained by 7.4% increase in revenue and 2.7% increase in expenditure. The general government total revenue amounted to 42.5% of GDP in 2013 while its total expenditure amounted to 44.2% of GDP.

Statistics Iceland releases now a new issue of Statistical Series. This issue presents the preliminary figures for the General Government Finances in 2013 and its main focus is on the general government. Similar information on its subsectors is available on the Statistics Iceland’s website.

The results published here are according to the ESA2010 standard. Methodological changes and other revisions have been applied to revenue and expenditures and the results have been calculated backwards to 1998.

General Government Finances 2013, revision - Statistical Series