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
Iranian Asylum Seeker To Be Deported In Two Weeks

Iranian Asylum Seeker To Be Deported In Two Weeks

by

Iranian asylum seeker Morteza Songolzadeh learned today that he will be deported from Iceland. “Honestly I was not expecting this,”

News
Pokémon Go Trainers Damaging Botanical Gardens

Pokémon Go Trainers Damaging Botanical Gardens

by

The Akureyri Botanical Gardens have been experiencing significant damages lately from unwanted guests who trespass on the grounds playing Pokémon

News
Iceland’s Worst Mobile Signal Areas To Be Mapped

Iceland’s Worst Mobile Signal Areas To Be Mapped

by

The Post and Telecom Administration in Iceland (PFS) plans to make a detailed map of which areas along Iceland’s national

News
Parliament Could Change Significantly After Elections

Parliament Could Change Significantly After Elections

by

Over a quarter of Iceland’s members of parliament so far have announced they will not be running in this October’s

News
Petition Underway To Save Afghan Family From Deportation

Petition Underway To Save Afghan Family From Deportation

by

An Afghan mother and daughter who have been on the run for 15 years have been denied asylum in Iceland.

News
Family Makes Dramatic Escape From Sinking Car

Family Makes Dramatic Escape From Sinking Car

by

An American family who traveled by car around Iceland had an experience that almost cost them their lives, but by

Show Me More!