Iceland and Greece Bottom Out in OECD’s Rating Skip to content

Iceland and Greece Bottom Out in OECD’s Rating

The economic growth in Iceland is the second lowest among OECD countries, -6.36 percent, in a rating from the beginning of 2009 to the end of the first quarter of 2011 with Greece placing last with -9.15 percent.


The Icelandic króna. Copyright: Icelandic Photo Agency.

With a recession of more than six percent, Iceland is far behind the next two countries: Slovenia with an economic growth of -3.98 percent and Ireland with -3.96 percent, Morgunbladid reports.

On average, the economic growth in the OECD countries was 1.81 percent in this period. Turkey was rated highest with an economic growth of 15.69 percent; the Central Bank of Turkey has now lowered the key interest rates to limit the influx of funds.

As for the Nordic countries, Sweden rates highest with an economic growth of 6.65 percent, followed by Denmark, Norway and Finland where the economic growth was lower than one percent.

Click here for other recent economic news.


Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!

Share article