Iceland: Government expenditure
* indicates monthly or quarterly data series
The most recent value is 336.83 billion Icelandic Krona as of Q1 2026, a decline compared to the previous value of 337.09 billion Icelandic Krona. Historically, the average for Iceland from Q1 1995 to Q1 2026 is 126.03 billion Icelandic Krona. The minimum of 27.39 billion Icelandic Krona was recorded in Q1 1995, while the maximum of 337.09 billion Icelandic Krona was reached in Q4 2025.
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* indicates monthly or quarterly data series
- Measure: billion Icelandic Krona
- Source: Statistics Iceland
| Recent values | Iceland: Government expenditure, billion currency units |
|---|---|
| 2026 Q1 | 336.83 |
| 2025 Q4 | 337.09 |
| 2025 Q3 | 321.09 |
| 2025 Q2 | 322.38 |
| 2025 Q1 | 311.09 |
| 2024 Q4 | 309.8 |
| 2024 Q3 | 294.73 |
| 2024 Q2 | 295.7 |
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Definition: Total spending by all levels of government but excluding public enterprises.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 25.14 | 2023 | percent |
| Government spending, in dollars | 10.06 | 2025 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -3.51 | 2024 | percent |
| Primary budget balance | -0.98 | 2024 | percent |
| Government expenditure | 336.83 | Q1/2026 | billion |
| Long-term interest rate | 5.87 | 8/2022 | percent |
| Tax revenue | 23.16 | 2023 | percent |
| Commercial tax rate | 31.90 | 2019 | percent |
| Tax preparation time | 140 | 2019 | hours |
| Taxes on goods and services | 35.19 | 2023 | percent |
| Taxes on international trade | 0.45 | 2023 | percent |
| Income and profits taxes | 34.56 | 2023 | percent |
| Government debt | 59.45 | 2024 | percent |
| Sovereign debt average maturity | 6.79 | 2024 | percent |
| Short-term government debt | 7.06 | 2024 | percent |