Iceland
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2012-04-12
Total Pages: 39
ISBN-13: 1475503121
DOWNLOAD EBOOKThis 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 21⁄2 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.