• Statistical Series
• 09. March 2012
• Vol 97, Issue 7
• ISSN: 1670-4665



• Download PDF

In 2011, the financial balance of the general government was 71.5 billion ISK in deficit or 4.4% of GDP, which can be compared with a deficit of 10% of GDP for 2010 or deficit of 6.5% if called guarantees are excluded. The reduced deficit in 2011 can be explained by 6.6% increase in revenue and 5.2% decrease in expenditure. The general government total revenue amounted to 41.7% of GDP in 2011, compared with 41.5% in 2010 and 41.1% in 2009. The general government total expenditure amounted to 46.1% of GDP in 2011 compared with 51.6% in 2010 and 51.0% in 2009.