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
“Home Of Leifur Eiríksson” Mourns Beginning Of Trump Presidency

“Home Of Leifur Eiríksson” Mourns Beginning Of Trump Presidency

by

Today, Donald J. Trump officially becomes the 45th President of the United States of America. The entire world is aware

News
Icelanders Love Sugar, Not So Keen On Fruits And Vegetables

Icelanders Love Sugar, Not So Keen On Fruits And Vegetables

by

Icelanders eat more sugary foods and fewer fruits and vegetables than other Nordic peoples. At the same time, they also

News
Asylum Applications Triple Between The Years

Asylum Applications Triple Between The Years

by

Over 1,100 applications for asylum were submitted in 2016; about three times more than the year previous. Most of these

News
Faroese Conservatives Want To Host Trump-Putin Summit

Faroese Conservatives Want To Host Trump-Putin Summit

by

A conservative opposition party in the Faroese parliament believes their country would be the ideal hosts for a possible summit

News
First Poll Of New Year: Left-Greens Surge, Ruling Coalition Dips

First Poll Of New Year: Left-Greens Surge, Ruling Coalition Dips

by

The first Market and Media Research (MMR) poll of 2017 on levels of party support shows the ruling coalition taking

News
Arrests Made In Connection With Missing Woman

Arrests Made In Connection With Missing Woman

by

Three crew members of the Greenlandic ship Polar Nanoq were arrested by Icelandic police yesterday in connection with the disappearance

Show Me More!