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Iceland sees government financial balance increase in Q2

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Staff writer ▼ | September 17, 2015
Iceland
Europe   The total revenue of Iceland was 216.5 billion

Iceland's general government saw its financial balance increase to a 10.3-billion-Icelandic krona ($80 million) deficit in the second quarter of 2015, up from a 3.1-billion-Icelandic-krona deficit in the same period of 2014, Statistics Iceland said.

The total revenue of the general government, which includes income from the central government, social security funds, and local governments, amounted to 216.5 billion Icelandic krona in the second quarter of 2015, an increase of 0.9 percent from the previous year. Tax revenue increased by 4.0 percent, but other revenue decreased.

At the same time, the total expenditure increased by 4.2 percent, from 217.6 billion Icelandic krona in 2014 to 226.8 billion Icelandic krona in 2015, mainly due to an increase in wages and salaries.

The central government's net financial asset position decreased by 5.7 billion Icelandic krona between the second quarters of 2014 and 2015, said the report.


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