Government forecasts 13.5 million kroner surplus in 2027

The Faroe Islands government expects a budget surplus of 13.5 million kroner in 2027 after accounting for a state pension offset, according to a budget proposal reported by KVF.

The government forecasts a surplus of 38.5 million kroner before including the offset, which is estimated to cost 25 million kroner. Finance Minister Aksel V. Johannesen presented the 2027 budget proposal to parliament.

Operating expenditure is estimated at 7.458 billion kroner, 4.3 per cent above the current budget. The proposal allocates just under 581 million kroner to investment.