Denmark: 2025 Article IV Consultation-Press Release; and Staff Report
IMF Staff Country Reports, July 4, 2025
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- Denmark: 2025 Article IV Consultation-Press Release; and Staff Report
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Bibliographic details
- Published: July 4, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229015899.002
Macroeconomic performance
- Strong growth has continued, primarily driven by the expansion of pharmaceutical exports.
- Domestic demand has been relatively sluggish.
- Inflation has remained below 2 percent.
Outlook and risks
- 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.
Public finances and external position
- Public finances are robust.
- External positions are robust.
Financial sector resilience
- The financial system has demonstrated resilience to multiple shocks in recent years.
Policy developments
- In response to increasing geopolitical tensions, early in 2025, the government announced a substantial increase in defense spending.
Subjects and keywords (as listed)
- Subjects: 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
Denmark: 2025 Article IV Consultation-Press Release; and Staff Report
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- 1dnkea2025001-print-pdf