Iceland has steadily recovered from the financial crisis. Key challenges to ensuring sustained growth and high levels of wellbeing include consolidating macroeconomic stability, locking in progress in fiscal policy and lifting productivity growth.
Iceland has steadily recovered from the global financial crisis, with economic activity above pre-crisis levels and a number of other visible signs of normalisation, including falling unemployment, improved public finances and stronger household finances.
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Labour market conditions in Iceland further improved during the last year. In March 2015 the harmonised unemployment rate stood at 4.2% of the labour force, 1 percentage point lower than a year earlier.
Specific country notes have been prepared using data from the database OECD Health Statistics 2015, July 2015 version. The notes are available in PDF format.
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Iceland is ranked 22nd among the 34 OECD member countries in decreasing order with a tax wedge for an average single worker at 33.5% in 2014, compared with the OECD average of 36.0%.
The OECD Working Group on Bribery has serious concerns about Iceland’s lack of progress in combatting the bribery of foreign public officials, and to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
This page contains all information relating to implementation of the OECD Anti-Bribery Convention in Iceland.
These ready-made tables and charts provide for snapshot of aid (Official Development Assistance) for all DAC Members as well as recipient countries and territories. Summary reports by regions (Africa, America, Asia, Europe, Oceania) and the world are also available.
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This country note from Going for Growth 2015 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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The tax burden in Iceland increased by 0.2 percentage points from 35.3% to 35.5% in 2013. The corresponding figure for the OECD average was an increase of 0.4 percentage points from 33.7% to 34.1%. The Icelandic standard VAT rate is 25.5%, the second highest of the OECD countries and far above the OECD average. The average VAT/GST standard rate in the OECD was 19.1% on 1 January 2014.