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Economic Growth on Hold

According to outlook forecast from the International Monetary Found, Iceland will exhibit the third lowest economic growth in the world in 2008.

According to the forecast, Iceland’s economic growth will be 0.4 percent and only Italy and Zimbabwe are predicted to have lower growth. Economic growth in Iceland will be even lower in 2009 or 0.1 percent according to the forecast. Fréttabladid reports.

Economic growth in Iceland will not reach the average growth of developed countries until 2012, if the forecast proves accurate.

However, this is an improvement since the last forecast, which was released in 2007. In that forecast, Iceland and Zimbabwe were the only countries in the world where economic growth was predicted to be negative.

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