Gross debt in Iceland

Gross debt of the last 22 years in billion USD

Comparison of gross debt per capita with the European Union in U.S. dollars

      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.

For comparison, the average debt per capita in the European Union was in the same year at 1,220 Euro.

Budget deficit and surplus in the last 7 years

(negative numbers = deficit)