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Iceland


  • 16-September-2019

    English

    Launch of the 2019 Economic Survey of Iceland

    Over the past years, favourable external conditions and good macroeconomic policies helped Iceland to nurture high growth, low unemployment, low inflation, and sustainable public finances. Living standards are among the highest in the OECD.

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  • 16-September-2019

    English

    Iceland’s slowdown underlines the need to fix structural issues

    Sound macroeconomic policies and favourable external conditions have enabled Iceland’s economy to emerge stronger from a decade of post-crisis management. Yet the impact on growth from a drop in tourist arrivals and seafood exports underlines the need for reforms to open up and diversify the economy and improve its resiliency to sectoral shocks, according to the latest OECD Economic Survey of Iceland.

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  • 13-September-2019

    English

    Mr. Angel Gurría, Secretary-General of the OECD, in Reykjavik on 15-16 September 2019

    Mr. Angel Gurría, Secretary-General of the OECD, will be in Reykjavik on 15-16 September 2019 to present the 2019 OECD Economic Survey of Iceland, alongside Mr. Bjarni Benediktsson, Minister of Finance and Economic Affairs, and Ms. Lilja Alfredsdottir, Minister of Education, Science and Culture of Iceland.

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  • 27-November-2017

    English

    Labour market and collective bargaining in Iceland: sharing the spoils without spoiling the shares

    Iceland has high living standards, low poverty, high inclusiveness and one of the most sustainable pension systems.

  • 9-October-2017

    English

    Sustaining nature-based tourism in Iceland

    celand has been experiencing a tourism boom. The number of tourists visiting annually quadrupled between 2010 and 2016 and shows continued strength. The tourism sector is now the major export earner and is also creating new jobs and supporting new businesses.

  • 8-August-2017

    English

    Collective bargaining in Iceland: sharing the spoils without spoiling the shares

    Icelandic labour market is flexible with high labour market participation, low unemployment, and labour supply dynamically responds to the economic cycle.

  • 27-June-2017

    English

    Economic Survey of Iceland 2017

    Iceland is the OECD’s smallest economy and,currently,the fastest growing. A booming financial services and construction led to a deep financial crisis in 2008. However, Iceland has made a remarkable turnaround, helped by spectacular growth of tourism, prudent economic policies and a favourable external environment.

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  • 27-June-2017

    English

    OECD Economic Surveys: Iceland 2017

    Iceland is the OECD's fastest growing economy. It has made a remarkable turnaround from the crisis, helped by booming tourism, prudent economic policies and a favourable external environment. Iceland has an egalitarian society with strong trade unions, very low inequality and high gender balance. Nevertheless, as a very small open economy Iceland is prone to boom and bust cycles. Prudent fiscal and monetary policy are warranted in the current economic boom.

    The spectacular growth in tourist numbers has provided new jobs, boosted tax revenues and attracted currency inflows, but there are some growing pains with social pressures emerging. Growing tourist numbers are putting pressure on the environment, infrastructure and housing. Furthermore, the strengthening króna has created difficulties for other internationally-exposed sectors.

    Iceland is the most highly unionised OECD country and the wage-bargaining system has contributed to high living standards and an inclusive society. Nevertheless, recent disruptive strikes and high wage awards have intensified inflationary pressures and threaten competiveness. Fostering trust among the social partners and increasing wage coordination would make collective bargaining more effective and help sustain the benefits of the system for future generations.

    SPECIAL FEATURES: SUSTAINABLE TOURISM; EFFECTIVE LABOUR RELATIONS
     

  • 22-June-2017

    English

    OECD Economic Survey of Iceland launches Tuesday 27 June 2017

    The latest OECD Economic Survey of Iceland, to be published on Tuesday 27 June, analyses the factors behind the country’s remarkable economic turnaround as well as steps that can be taken to preserve sustainable and inclusive growth.

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  • 17-March-2017

    English, PDF, 99kb

    Going for Growth 2017 - Iceland

    This country note from Going for Growth 2017 for Iceland identifies and assesses progress made on key reforms to boost long-term growth, improve competitiveness and productivity and create jobs.

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