Klaksvík municipality falls 44 million below debt ceiling

The net debt of Klaksvík municipality stands at 358 million krona, 44 million below the legal debt limit, according to figures published on the municipality’s website.

The municipal council approved the 2025 financial statements in its most recent meeting, showing a surplus of 22 million krona after deductions. Total revenue for the year reached 401.8 million krona, while operating expenses amounted to 306.2 million krona.

Investments in 2025 totalled 54.1 million krona. Bank debt rose from 391.1 million krona at the start of the year to 413.1 million krona by year-end, a net increase of 22 million krona.

The municipality borrowed 40 million krona over the year, with 18 million krona allocated to repayments. Creditors account for 25.1 million krona in liabilities, while other debts total 12 million krona—including 6.3 million krona set aside for land purchases related to gravel supplies for Norðhavn port.