Quarterly government accounts, 1st quarter 2018

  • Statistical Series
  • 14. June 2018
  • Vol 103, Issue 17
  • ISSN: 1670-4770

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According to preliminary figures in the 1st quarter of 2018, the financial balance of the general government amounted to 9.6 billion ISK surplus or 1.5% of quarterly GDP and 3.5% of general government total revenue. This can be compared with 8.4 billion ISK in surplus in the 1st quarter 2017 or 1.5% of GDP in that quarter. The general government total revenue is estimated 275.0 billion ISK in the 1st quarter 2018, an increase of 5.3% from previous year. The increase is mainly due to increase in tax revenues. The total expenditure increased at the same time by 5.0%. Compensation of employees increased by 7.9% but interest expense decreased by 14.9%.

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