IMF Staff Country Reports

Denmark: 2025 Article IV Consultation-Press Release; and Staff Report

July 4, 2025

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Format: Chicago

International Monetary Fund. European Dept. "Denmark: 2025 Article IV Consultation-Press Release; and Staff Report", IMF Staff Country Reports 2025, 165 (2025), accessed July 20, 2025, https://doi.org/10.5089/9798229015899.002

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Summary

Strong growth has continued, primarily driven by the expansion of pharmaceutical exports, while domestic demand has been relatively sluggish. Inflation has remained below 2 percent. Public finances and external positions are robust, and the financial system has demonstrated resilience to multiple shocks in recent years. Staff expects growth to moderate in the near term as external demand weakens, and the exceptional pharmaceutical expansion begins to normalize. While direct impacts from U.S. tariffs are expected to be limited, the escalated global trade tensions pose risks to the outlook. In response to increasing geopolitical tensions, early in 2025, the government announced a substantial increase in defense spending.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Defense spending, Expenditure, Financial institutions, Fiscal policy, Fiscal stance, Labor, Labor markets, Securities

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Baltics, Currency of Denmark, Defense spending, ERM II, Europe, Fiscal stance, Fluctuation band, Global, IMF staff calculation, Labor markets, Securities, Single market

Publication Details

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