Financial accounts statistics for the years 2003-2019 have been revised according to the benchmark revision of national accounts and government financial statistics carried out late last year.
The main changes in the benchmark revision was on sector classification where twenty-four state-owned entities previously classified outside the general government have been reclassified and are now considered as a part of the general government in national accounts. Of these twenty-four entities, five were previously classified as financial corporations and nineteen as non-financial corporations.
The main impact of the revision is on financial corporations and general government financial assets and liabilities.
Statistics Iceland published a working paper on 30 November discussing the methodological basis of sector classifications within national accounts, aimed at resolving issues regarding state-owned entities and the demarcation of the general government sector. This working paper is hereby published again.