Overview
Discussions Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
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Highest
12.50 % of GDP on Dec 31, 2016
Lowest
−12.10 % of GDP on Dec 31, 2008
About Iceland Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.