Statistics Iceland releases now a new issue of Statistical Series. This issue presents the main indicators on Government Finances in the 2nd quarter of 2007. In that quarter, the financial balance of general government (i.e. the central government, the social security funds and the local governments) amounted to 9.7 billion krónur in surplus or 0.7 per cent of GDP and 6.5 per cent of general government total revenue. This can be compared with a surplus of 1.4 per cent of GDP and 11.3 per cent of general government total revenue in the 2nd quarter of 2006. This can also be compared with a surplus of 2.2 per cent of GDP in the 4th quarter of 2006 and 1.6 per cent surplus in the 1st quarter of 2007.

The financial balance of the central government and the social security funds was in surplus by 8.3 billion krónur in the 2nd quarter and of the local governments in surplus by 1.4 billion krónur. The financial balance of the local governments has largely impoved since 2004 when it was in deficit by 5.8 billion krónur. In 2005, it was in surplus by 4.4 billion krónur and in 2006 by 11 billion krónur.

Quarterly government accounts, 2nd quarter 2007- Statistical Series

Statistics