General government finances 2010

  • Statistical Series
  • 12. September 2011
  • Vol 96, Issue 49
  • ISSN: 1670-4665

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In 2010, the financial balance of the general government was 155 billion ISK in deficit or 10.1% of GDP, which can be compared with a deficit of 10% of GDP for 2009. These unfavorable results can be explained by a drastic decrease in revenue due to a 11% fall in GDP in 2009-2010 in real terms. At the same time, the expenditure increased heavily due to an increase in financial liabilities and unemployment.

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