Iceland - Subsidies and other transfers (% of expense)

Subsidies and other transfers (% of expense) in Iceland was 30.49 as of 2019. Its highest value over the past 29 years was 34.10 in 1997, while its lowest value was 16.22 in 2008.

Definition: Subsidies, grants, and other social benefits include all unrequited, nonrepayable transfers on current account to private and public enterprises; grants to foreign governments, international organizations, and other government units; and social security, social assistance benefits, and employer social benefits in cash and in kind.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files.

See also:

Year Value
1990 32.76
1991 32.54
1992 33.83
1993 33.27
1994 32.15
1995 32.35
1996 33.40
1997 34.10
1998 21.71
1999 21.67
2000 21.89
2001 26.27
2002 26.78
2003 28.60
2004 28.57
2005 25.63
2006 24.23
2007 24.85
2008 16.22
2009 24.17
2010 25.52
2011 26.52
2012 25.80
2013 26.09
2014 25.74
2015 25.22
2016 22.72
2017 27.56
2018 28.61
2019 30.49

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: Median

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance