Statistics Iceland releases now a new issue of Statistical Series. This issue presents the main indicators on Government Finances in the 1st quarter of 2007. In that quarter, the financial balance of general government (i.e. the central government, the social security funds and the local governments) amounted to 22.2 billion krónur in surplus or 1.7 per cent of GDP and 15.1 per cent of general government total revenue. This can be compared with a surplus of 1.5 per cent of GDP and 13 per cent of general government total revenue in the 1st quarter of 2006. This favourable result is mainly caused by a record high surplus in central government finances, but the local government financial balance has also turned to favourable results and shown surplus in this quarter which amounted to 9.4 per cent of local government total revenue.

Quarterly government accounts, 1st quarter 2007

Statistics