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.
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.
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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The tax wedge for the average single worker in Iceland increased by 0.1 percentage points from 33.1 in 2017 to 33.2 in 2018. The OECD average tax wedge in 2018 was 36.1 (2017, 36.2).
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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The tax-to-GDP ratio in Iceland decreased by 13.9 percentage points, from 51.6% in 2016 to 37.7% in 2017. This decrease was due to the one-off stability contributions in 2016. The corresponding figures for the OECD average were an increase of 0.2 percentage points from 34.0% to 34.2% over thesame period.
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The digital revolution, globalisation and demographic changes are transforming labour markets at a time when policy makers are also struggling with slow productivity and wage growth and high levels of income inequality. The new OECD Jobs Strategy provides a comprehensive framework and policy recommendations to help countries address these challenges.
Data on government support to agriculture in the OECD area and other major economies, measured by the Producer Support Estimate (PSE) and Consumer Support Estimate.
The family-friendly policies introduced by Nordic countries over the past 50 years and associated increases in female employment have boosted growth in GDP per capita by between 10% and 20%, according to a new OECD report.