News

Monday - 7 December 2009
No. 199/2009

Quarterly government accounts, 3rd quarter 2009

Statistics Iceland releases now a new issue of Statistical Series. This issue presents the main indicators on Government Finances in the 3rd quarter of 2009. The financial balance of the general government (i.e. the central government, the social security funds and the local governments) amounted to 33 billion ISK in deficit or 8.4% of the GDP in the 3rd quarter and 20.4% of general government total revenue. This can be compared with a deficit of 41 billion ISK in the 2nd quarter 2009 and a deficit of 13 billion ISK in 3rd quarter 2008. In the first nine months of 2009, the financial balance of the general government was 100 billion ISK in deficit or 6.6% of GDP, which can be compared with a surplus of 0.4% of GDP for the same period in 2008 (see diagram). 

The financial balance of the central government and the social security funds was in deficit by 28.5 billion ISK in the 3rd quarter of 2009 and in deficit by 85.7 billion ISK for the first nine months of the year. This can be compared with a deficit of 8.3 billion ISK in the 3rd quarter of 2008 and 16 billion ISK in surplus for the first nine months of 2008. The financial balance of the local governments was in deficit by 4.1 billion ISK in the 3rd quarter of 2009 and by 14.5 billion ISK for the first nine months of 2009.
 
The central government net financial assets, i.e. the financial assets less liabilities, was negative by 441 billion ISK or 29% of GDP in end of 3rd quarter 2009 compared with a positive net financial assets of 23.5 billion ISK or 1.6% of GDP in the same period 2008. The central government total liabilities amounted to 1,419 billion ISK in the end of 3rd quarter 2009 or 93% of estimated GDP. This can be compared with 722 billion ISK or 49% of GDP in end of 3rd quarter 2008.   

Quarterly government accounts, 3rd quarter 2009 - Statistical Series

Statistics



Use of this press release is free. Please quote the source.

For further information contact National Accounts tel. +354-528 1100

 

Search site

Built with LiSA CMS. Eskill -LiSA, Sharepoint, Veflausnir og Vefumsjˇnarkerfi