The harmonised index of consumer prices in the European Economic Area in August 2020 decreased by 0.4% from the previous month. Figures have been updated.
The effect of Covid-19 on the financial balance of the general government (i.e. the central government, the social security funds and the local governments) is significant in the second quarter of 2020 and is estimated at 78.4 billion ISK in deficit or 11.2% of quarterly GDP.
The financial balance of the general government (i.e. the central government, the social security funds and the local governments) was 45.4 billion ISK in deficit in 2019, a deficit amounting to 1.5% of GDP, compared with a surplus of 22.1 billion ISK in 2018 or 0.8% of GDP.
Total financial liabilities of Iceland’s domestic sector stood at ISK 27,363 billion or 921% of Gross Domestic Product (GDP) in year-end 2019. Total financial assets stood at ISK 27,881 billion or 939% of GDP according to preliminary figures from Statistics Iceland.