European Parliament Library

Iceland :, Selected Issues Paper

This selected issues paper on Iceland reports that since mid-2009, Iceland has undergone a heavily frontloaded fiscal consolidation program to bring government finances to a sustainable level. To maintain the adjustment gains achieved during the last 2½ years, the authorities have started drafting a new organic budget law, which would codify recent reforms in the budget framework and introduce principles for fiscal policymaking. Iceland’s economy is exposed to adverse shocks. The external outlook continues to pose challenges, as key trading partners face weak growth prospects
Table Of Contents
Cover; Contents; I. Iceland's Policy Objectives under a New Fiscal Rule; A. Introduction; B. Modeling the Fiscal Objectives; Tables; 1.Description of Fiscal Objectives; C. Results; Figures; 1. GDP Gap Volatility under Shocks; 2. GDP Growth volatility; 3. Primary Expenditure Volatility; 4. Deviation of Primary Expenditure from the Baseline; 5. Deviation of the Overall Balance from a Surplus of 1.5 Percent of GDP; D. Summary Assessment; 2. Assessment Criteria; E. Robustness; 3. Summary Scores; 6. Summary Assessment; F. Conclusions
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (40 p.)
Specific Material Designation
Form Of Item

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