Category: Economy

Economy

Collective Agreement Negotiations Suspended

The labour movement cannot drive down inflation alone, the chairman of Iceland’s largest labour union told Vísir. He says wage negotiations have been put on

Jelena Ćirić November 30, 2023

Low cost of electricity in Iceland compared with the rest of Europe

Economy

Electricity Shortage “Unacceptable” Says Environment Minister

Icelandic fish processing plants will need to power their operations with oil and diesel generators for the third winter in a row due to an

Jelena Ćirić November 30, 2023

Economy

Iceland Sees Surge in Approved Short-Term Apartment Rentals

Nearly 3,400 apartments in Iceland are now approved for short-term rentals, double the number at its peak in the years before the pandemic. Homeowners are

Ragnar Tómas November 29, 2023

Economy

Central Bank Keeps Interest Rates Steady Amid Geological Unrest

The Monetary Policy Committee of the Central Bank of Iceland has decided to keep the bank’s interest rates steady at 9.25%, despite worsening inflation expectations

Ragnar Tómas November 22, 2023

Economy

Support for Labelling Farmed Salmon

The Consumers’ Association of Iceland (Neytendasamtökin) has recently expressed interest in labelling salmon raised in sea pens, following a similar statement from Norway. The interest

Erik Pomrenke November 6, 2023

Minister of Tourism, Industry, and Innovation Þórdís Kolbrún Reykfjörð Gylfadóttir

Economy

New Finance Minister Þórdís Kolbrún Moves Forward with Íslandsbanki Sale

Minister of Finance Þórdís Kolbrún Reykfjörð Gylfadóttir has recently expressed support for the continued sale of state-owned Íslandsbanki shares. RÚV reports. Formerly Minister of Foreign

Erik Pomrenke October 24, 2023

Economy

September Sees Slight Uptick in Unemployment Rate

Iceland’s unemployment rate rose from 2.9% in August to 3% in September, according to a new report from the Directorate of Labour. Foreign citizens compose

Ragnar Tómas October 11, 2023

Economy

Finance Minister Proposes Charge on Clean-Energy Vehicles

The Finance Minister has proposed a six-krona per-kilometre charge on electric and hydrogen vehicles for the upcoming year. A similar charge will be levied on

Ragnar Tómas October 6, 2023

Central Bank Ásgeir Jónsson seðlabankastjóri

Economy

Central Bank Breaks Rate Hike Streak Amid Economic Slowdown

The Monetary Policy Committee of the Central Bank of Iceland has halted a trend of interest rate hikes by maintaining the key interest rate at

Ragnar Tómas October 4, 2023

Economy

Foreign Citizens in Iceland Face More Difficulties Finding Jobs

Foreign citizens make up nearly 50% of those currently unemployed in Iceland, while they only make up 15-20% of the population, RÚV reports. This overrepresentation

Jelena Ćirić September 28, 2023