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There is a light at the end of the tunnel…

There is a light at the end of the tunnel…. Ingunn S. Þorsteinsdóttir Economist 17. 04. 2012. Economic growth. %. Private consumption. %. Purchasing power index ( jan 2000 = 100). Gross fixed capital formation. %. Gross fixed capital formation. Public consumption.

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There is a light at the end of the tunnel…

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  1. There is a light at the end of the tunnel… Ingunn S. Þorsteinsdóttir Economist 17. 04. 2012

  2. Economic growth %

  3. Private consumption %

  4. Purchasing powerindex (jan 2000 = 100)

  5. Gross fixed capital formation %

  6. Gross fixedcapital formation

  7. Public consumption

  8. Current account balance* % of GDP *Currentaccount balance excludingunpaidaccruedinterest due to DMBs in winding - up proceedings.

  9. Unemployment% of labour force

  10. Foreign exchange rate index quarterly average Increase = depreciation

  11. Inflation 12 month inflation quarterly average

  12. Assumption for the wage contracts Unemployment rate less than 5% by the year end 2013 Investment share of GDP to 20% by year end 2013. The contract will be revised in December 2012 • Increase in real wages dec. 2011 – dec. 2012 • Inflation less than 2,5% in December 2012. • Exchange rate index 190 points by the year end 2012.

  13. The bottom line... • The economic recovery is fragile • It is driven by growth in private consumption and investments • Temporary measure to assist indebted households • Households and businesses are still highly indebted • We need direct foreign investment... • strengthen the krona • Increase business investment and increase output in the future. • Lifting the currency control – is going to be difficult task

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