- Treasury operates without deficit for fourth consecutive year
- Treasury debt ratio on the decline
- Social security allocations increased
- Increased funding for healthcare
The fiscal budget proposal for 2017 has been presented before Parliament, in accordance with the fiscal strategy and fiscal plan over a horizon of five years, both of which were approved in August and are based on a new organic budget law.
The budget proposal for 2017 is based on the foundations that have been laid with the past three years’ balanced budgets. The Treasury’s performance has improved year by year since automatic debt accumulation was halted with the 2014 National Budget, and the 2017 budget proposal is the fourth in a row based on Treasury operations without a deficit.
The bill assumes an overall surplus of ISK 28.4 bn. This is virtually unchanged Treasury performance from the 2017–2021 fiscal plan presented last spring, or 1% of GDP.
The primary surplus is substantial, at ISK 90.9 bn.
Further information is in attached press release.
For National Budget 2017 see website http://www.fjarlog.is
