Iceland 2013 Article IV Consultations and Third Post-Program Monitoring Discussions
This 2013 Article IV Consultation highlights that Iceland's economy is on a path to recovery, but legacy vulnerabilities are weighing on growth. GDP growth-which reached 2.9 percent in 2011-slowed to 1.6 percent in 2012 amid private sector deleveraging and weak external demand. Unemployment has...
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| Format: | eBook |
| Language: | English |
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Washington, D.C.
International Monetary Fund
2013
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| Series: | IMF Staff Country Reports
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| Collection: | International Monetary Fund - Collection details see MPG.ReNa |
| Summary: | This 2013 Article IV Consultation highlights that Iceland's economy is on a path to recovery, but legacy vulnerabilities are weighing on growth. GDP growth-which reached 2.9 percent in 2011-slowed to 1.6 percent in 2012 amid private sector deleveraging and weak external demand. Unemployment has continued to decline however, standing at 5.1 percent in May, down from a peak of 9.2 percent in September 2010. Inflation has come down to 3.3 percent in June from a peak of 18.6 in January 2009, but remains above the central bank's target of 2½ percent. The outlook is for modest growth, declining inflation, and improving fiscal and external position |
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| Physical Description: | 63 pages |
| ISBN: | 9781475558401 |