Iceland - Central government debt, total (% of GDP)

Central government debt, total (% of GDP) in Iceland was 72.91 as of 2016. Its highest value over the past 26 years was 108.90 in 2011, while its lowest value was 29.91 in 1990.

Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1990 29.91
1991 31.32
1992 37.65
1993 43.06
1994 44.10
1995 46.34
1996 45.70
1997 68.47
1998 63.18
1999 59.16
2000 58.26
2001 60.28
2002 56.30
2003 54.44
2004 48.28
2005 38.09
2006 42.29
2007 40.52
2008 77.21
2009 97.00
2010 101.92
2011 108.90
2012 108.26
2016 72.91

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance