700,000 liters of alcohol are forecast be consumed in Iceland before and during the upcoming labor day weekend. Fréttabladid quotes Höskuldur Jónsson, CEO of ÁTVR, the state alcohol monopoly, saying that this translates in to record-breaking weekly sale of half a billion ISK, a 10% year-over-year increase. 100,000 liters of alcohol will be sold in Akureyri, four times more than is sold in a normal week. Ninety per cent of the alcohol sold is beer. Fréttabladid reports that according to these figures Icelanders over the legal drinking age of 20 (209,000) will consume on average 3.4 liters of beer over the weekend which is about nine 350ml beer bottles.