Economy Continues to Recover

Published June 15, 2010

Both inflation and unemployment will continue to decrease, predicts Statistics Iceland. Minister of Finance says that country is “a year and a half of everyone else” in terms of economic recovery.
According to the latest figures from Statistics Iceland, inflation will drop from 6% to 4% by the end of the year, and has been dropping for some time now. Unemployment – which has been steadily decreasing – will keep falling as well. In both cases, things are expected to level out next year, with prices brought back down to the global average, and unemployment returning to pre-crisis levels.
This shows remarkable recovery for a nation that barely a year and a half ago experienced the complete collapse of its banking system, and in fact, Moody’s raised Iceland’s economic assessment from Negative to Stable just last April.
Minister of Finance Steingrímur J. Sigfússon, addressing parliament yesterday, remarked that Iceland was the first country to experience the global economic crisis, and is proving to be a year and a half ahead of every other country in terms of recovery. He added that he was especially optimistic about the future, as Iceland had proven the dimmest predictions about the company to be wrong.



News
Volcano Has Maybe Stopped Erupting, Not 100% Sure

Volcano Has Maybe Stopped Erupting, Not 100% Sure

by

Víðir Reynisson, Department Head at Iceland’s Civil Protection has told RÚV that although it looks as if Holuhraun has stopped

News
Netflix Coming To Iceland

Netflix Coming To Iceland

by

Sam Film have closed a deal with streaming giant Netflix to bring the service to Iceland, reports RÚV. It is

News
Banks Made Over 80 Billion ISK Last Year

Banks Made Over 80 Billion ISK Last Year

by

Iceland’s three banks made a combined total of 81.2 billion ISK last year alone, showing an increase of over 25%

News
Tourist Business Unhappy With Civic Protection

Tourist Business Unhappy With Civic Protection

by

While Civic Protection in Iceland has been diligent about protecting Icelanders and tourists alike from the dangers of the Holuhraun

News
Pirate Party Reacts To Proactive Police Investigations

Pirate Party Reacts To Proactive Police Investigations

by

Pirate Party MP, Birgitta Jónsdóttir, has expressed concern over the police’s request for proactive investigative powers, reports Vísir. Independence Party

News
Police Want Authority To Spy On Citizens

Police Want Authority To Spy On Citizens

by

The Icelandic police want the authority to “gather information” on individuals they deem a threat to public safety; the qualifications

Show Me More!