Gross debt in Iceland
The government gross debt refers to the total of all sums of money that have to be paid to other countries, communities or institutions. On the other hand not included in the gross debt are the demands of a country to foreign ones.
The gross debt in Iceland in the period from 1998 to 2016 was between 4.9 billion and 18.0 billion USD. The hightest level within the past 18 years was reached in 2014. However, the liabilities in 2016 have been only 15.16 billion USD
Based on the number of inhabitants, this is in Iceland a debt of 45,195 USD per person. For comparison: The average debt per person in the same year in the European Union was 31,202 USD.Back to overview: Iceland
Gross debt of the last 18 years in billion USD
Comparison of the gross debt per capita with the European Union in Euro Iceland European Union
Budget deficit in Iceland
The budget deficit of a country is the result of all its claims and liabilities. This includes incomes and expenses, repayments and building of new debts in other countries, but also domestic positions of the government, such as social insurances, local authorities and communities. It is the financial balance of the economic accounts. In simple terms: If a country at the end of the year has more money, than at at the beginning, it is a surplus - it is less, it is called deficit.
The budget balance in Iceland in the period between 2005 and 2012 varied between -2.05 billion Euro and +1.11 billion Euro. In 2012 was reached a balance of -522 million Euro.
In ratio to population, this equals a surplus of 0 Euro per capita in Iceland. For comparison, the average debt per capita in the European Union
was in the same year at 1,689 Euro.
Budget deficit and surplus in the last 7 years(negative numbers = deficit)