Gross debt in Iceland

Gross debt of the last 23 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 insurance, 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. If it is less, it is called a deficit.

The budget balance in Iceland in the period between 2005 and 2012 varied between -2.05 billion euros and +1.11 billion euros. In 2012, Iceland reached a balance of -522 million euros.

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

Budget deficit and surplus in the last 7 years

(negative numbers = deficit)