Cover IMF Staff Country Reports
Buy Book in Print
Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
Author:
International Monetary Fund. European Dept.
Search for other papers by International Monetary Fund. European Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2017: Issue 163
Language:
English
Publication Date:
22 Jun 2017
DOI:
https://doi.org/10.5089/9781484304969.002
ISBN:
9781484304969
ISSN:
1934-7685
Pages:
59
Keywords:
ISCR; CR; fiscal policy; IMF staff projection; economy; inflation expectation; exchange rate volatility; prudent fiscal policy; CBI transactions; inflation prospect; Tourism; Current account; Inflation; Global
Download PDF (2 MB) Download Epub
This 2017 Article IV Consultation highlights Iceland’s continued real GDP growth, driven by tourism. Growth reached 7.2 percent in 2016 and is projected at almost 6 percent in 2017 before tapering to about 2.5 percent over the medium term. Bank credit to the nonfinancial private sector remains muted, growing only 4.3 percent in 2016, but it is expected to pick up. Thus far, growth has been driven not by leverage but by exports, private consumption, and investment. Iceland’s current account surplus is projected to shrink modestly over time, with some export sectors suffering while others thrive.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund