In the 3rd quarter of 2013, the financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to 2.4 billion ISK in deficit or 0.5% of quarterly GDP and 1.2% of general government total revenue. This can be compared with 6.7 billion ISK in deficit in the 3rd quarter of 2012 or 1.5% of GDP in that quarter. The first nine months the deficit was 1.4% of GDP of the period and 3.1% of its revenue.
The central government total liabilities at the end of the 3rd quarter 2013 amounted to 1,933 billion ISK or 108.5% of the GDP. Taking account of its financial assets, the net financial assets, i.e. the financial assets less liabilities, was negative by 878 billion ISK or 49.3% of the GDP, compared with a negative net financial asset of 48.5% of the GDP in the same period in 2012. Consequently, the central government net financial asset position has deteriorated by 55 billion ISK between the 3rd quarters 2012 and 2013.
Statistics Iceland releases now a new issue of Statistical Series. This issue presents the main indicators on Government Finances in the 3rd quarter of 2013.
Quarterly government accounts, 3rd quarter 2013 - Statistical Series