Statistics Iceland releases now a new issue of Statistical Series. This issue presents the main indicators on Government Finances in the 4th quarter of 2007. In that quarter, the financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to 17.8 billion ISK in surplus or 1.4% of GDP and 11.2% of general government total revenue. This can be compared with a surplus of 2.0% of GDP and 15.9% of general government total revenue in the 4th quarter of 2006. In 2007, the financial balance of the general government was 66.6 billion ISK in surplus or 5.2% of GDP, which can be compared with a surplus of 6.3% of GDP for 2006 or 73.8 billion ISK.

In 2007, the general government total revenue amounted to 617.5 billion ISK or 48.3% of GDP and increased by 10.2% from 2006. The total expenditure in¬creased by 13.2% and amounted to 551 billion ISK or 43.1% of GDP. The general government investment in 2007 was 55 billion ISK and increased by 20%. 

The financial balance of the central government and the social security funds was in surplus by 16.5 billion ISK in the 4th quarter of 2007 and by 60.6 billion ISK for the whole year. This can be compared with a surplus of 22.4 billion ISK in the 4th quarter of 2006 and 70.1 billion ISK for the year 2006. The financial balance of the local governments was in surplus by 1.2 billion ISK in the 4th quarter of 2007 or by 5.9 billion ISK for the year 2007.

Quarterly government accounts, 4th quarter 2007 - Statistical Series