Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
June 22, 2017
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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.
Subject: Balance of payments, Banking, Current account, Economic sectors, External debt, External sector statistics, Financial regulation and supervision, Financial statistics, Inflation, Prices, Tourism
Keywords: CBI transactions, CR, Current account, economy, exchange rate volatility, fiscal policy, Global, IMF staff projection, Inflation, inflation expectation, inflation prospect, ISCR, prudent fiscal policy, Tourism
Pages:
59
Volume:
2017
DOI:
Issue:
163
Series:
Country Report No. 2017/163
Stock No:
1ISLEA2017001
ISBN:
9781484304969
ISSN:
1934-7685
