Denmark: Staff Report for the 1999 Article IV Consultation

IMF Staff Country Reports, August 26, 1999

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Denmark: Staff Report for the 1999 Article IV Consultation

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Bibliographic details

• Published: August 26, 1999
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451811032.002

Overview

• The Danish economy continued to perform well in 1997–98.
• Real GDP growth of about 3 percent remained above potential.
• Unemployment fell to 6 percent, less than half its level only five years earlier.
• Consumer price inflation remained subdued at slightly below 2 percent.
• The external current account balance showed a deficit—for the first time since 1989—of 1.4 percent of GDP.
• Wage inflation was 4½ percent, remaining higher than in the main trading partner countries.

Key economic indicators (as reported)

• Real GDP growth: about 3 percent.
• Unemployment rate: 6 percent.
• Consumer price inflation: slightly below 2 percent.
• Current account balance: deficit of 1.4 percent of GDP.
• Wage inflation: 4½ percent.

Analysis and risks highlighted

• Growth above potential contributed to increasingly evident capacity constraints.
• The emergence of a current account deficit marked the first external deficit since 1989, signaling a shift in external balances.
• Elevated wage inflation relative to main trading partners posed competitiveness and inflationary risks.

Notes

• Included with the Staff Report are the text of Public Information Notice No. 99/83--IMF Concludes Article IV Consultation with Denmark and a Statement by Kai Aaen Hansen, Executive Director, on August 5, 1999.
• Report length: 41 pages; Series: Country Report No. 1999/088; Issue: 088; Volume: 1999; ISBN: 9781451811032; DOI: https://doi.org/10.5089/9781451811032.002

International Monetary Fund. "Denmark: Staff Report for the 1999 Article IV Consultation", IMF Staff Country Reports 1999, 088 (1999).

Content in this bundle

• Denmark: Staff Report for the 1999 Article IV Consultation- ISCR/99/88
  • Denmark: Staff Report for the 1999 Article IV Consultation- ISCR/99/88 (Markdown version)
  • Denmark: Staff Report for the 1999 Article IV Consultation- ISCR/99/88 (PDF)
• Statement by Kai Aaen Hansen, Executive Director for Denmark, August 5, 1999
  • Statement by Kai Aaen Hansen, Executive Director for Denmark, August 5, 1999 (Markdown version)
  • Statement by Kai Aaen Hansen, Executive Director for Denmark, August 5, 1999 (PDF)