Iceland: Budget balance forecast

The latest value from 2028 is -1.57 percent, an increase from -1.6 percent in 2027. In comparison, the world average is -2.11 percent, based on data from 80 countries. Historically, the average for Iceland from 1980 to 2028 is -1.23 percent. The minimum value, -8.97 percent, was reached in 2009 while the maximum of 5.48 percent was recorded in 2006. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: The structural budget balance refers to the general government cyclically adjusted balance adjusted for nonstructural elements beyond the economic cycle. These include temporary financial sector and asset price movements as well as one-off, or temporary, revenue or expenditure items. The cyclically adjusted balance is the fiscal balance adjusted for the effects of the economic cycle. The series includes actual historical values for past years and forecast values for the current and the next few years.