Public spending in Faroe Islands reaches record 13.2 billion Danish kroner

Public spending in the Faroe Islands reached an unprecedented level last year, amounting to approximately 13.2 billion Danish kroner. According to Statistics Faroe Islands, this figure marks an increase from 2022, when public expenditures totaled around 12 billion kroner.

Public spending includes all expenses associated with public administration and services. It is divided into sectors, which are organized into two tiers comprising 10 main sectors and 69 sub-sectors.

The largest main sector in the previous year was social welfare, which accounted for 4.6 billion kroner.