In 2012, the financial balance of the general government was 65.3 billion ISK in deficit or 3.8% of GDP, which can be compared with a deficit of 5.6% of GDP for 2011. The reduced deficit in 2012 can be explained by 8.7% increase in revenue and 4.4% increase in expenditure. The general government total revenue amounted to 43.6% of GDP in 2012, compared with 41.8% in 2011 and 41.5% in 2010. The general government total expenditure amounted to 47.4% of GDP in 2012 which is equal share as in 2011 to compare with 51.6% in 2010.
Statistics Iceland releases now a new issue of Statistical Series. This issue presents the General Government Finances in 2012 and its main focus is on the general government. Similar information is available on its subsectors on the SI website.
General Government Finances 2012, revision - Statistical Series