Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland

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...

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Main Author: International Monetary Fund
Format: Report
Language:unknown
Subjects:
Iceland
Online Access:http://www.imf.org/external/pubs/cat/longres.aspx?sk=44998
id ftrepec:oai:RePEc:imf:imfscr:2017/163
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spelling ftrepec:oai:RePEc:imf:imfscr:2017/163 2024-04-14T08:13:32+00:00 Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland International Monetary Fund http://www.imf.org/external/pubs/cat/longres.aspx?sk=44998 unknown http://www.imf.org/external/pubs/cat/longres.aspx?sk=44998 preprint ftrepec 2024-03-19T10:41:22Z 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. 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 Report Iceland RePEc (Research Papers in Economics)
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collection RePEc (Research Papers in Economics)
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language unknown
description 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. 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
format Report
author International Monetary Fund
spellingShingle International Monetary Fund
Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
author_facet International Monetary Fund
author_sort International Monetary Fund
title Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
title_short Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
title_full Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
title_fullStr Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
title_full_unstemmed Iceland: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Iceland
title_sort iceland: 2017 article iv consultation-press release; staff report; and statement by the executive director for iceland
url http://www.imf.org/external/pubs/cat/longres.aspx?sk=44998
genre Iceland
genre_facet Iceland
op_relation http://www.imf.org/external/pubs/cat/longres.aspx?sk=44998
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