National Economic Institute to Be Resurrected Skip to content

National Economic Institute to Be Resurrected

The government is planning to establish a new institution modeled on the National Economic Institute (Þjóðhagsstofnun) which was shut down ten years ago, reorganize the operations of some ministries and relocate projects from the Ministry of Economic Affairs to other ministries.


Copyright: Icelandic Photo Agency.

A proposal on these changes was discussed by the Administration and Supervision Committee of Alþingi, the Icelandic parliament, in late April, reports.

Valgerður Bjarnadóttir of the Social Democrats, the committee’s chair, said the new institution’s purpose would be to independently monitor economic matters.

However, earlier ideas on merging the Central Bank and the Financial Supervisory Authority have been abandoned.

The opposition is critical of these proposed changes. Birgir Ármannsson of the Independence Party said the matter is being handled too quickly by the committee and that the changes must be worked out in detail.


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