Economy Of Iceland


Economy Of Iceland

Inflation over 2006 topped at 8.6%, with a price of 6.9% as of January 2007. Standard & Poor’s lowered their rating for Iceland to AA- from A+ in December 2006, following a loosening of fiscal policy by the Icelandic authorities forward of the 2007 elections. Foreign debt rose to greater than 5 times the value of Iceland’s GDP, and Iceland’s Central Bank raised short-time period interest rates to just about 15% in 2007. Due to the plunging forex towards the euro and dollar, in 2008 inflation was alleged to be at 20-25%.

It has the costliest Iceland properties due to its proximity to facilities such as the airport, hospital as well as a college. If you might be in search of Reykjavik properties on the market, you will most likely discover the cheapest value within the towns of Hafnarfjordur and Mosfellsbaer. The peninsula of Westfjords off the Ring Road is the most thinly populated space of the nation which has the most affordable Iceland actual property. As a matter of truth, the local municipality used to distribute the land free of price to extend Westfjords’ population.

The second plant began manufacturing in 1998 and is operated by Norðurál, a wholly owned subsidiary of U.S.-based mostly Century Aluminum Company. It is located in Grundartangi in Western Iceland near the town of Akranes. Its former capacity was 220,000 mtpy but an growth to 260,000 mtpy has already finished. In 2012 the plant produced 280,000 metric tons which was valued at 610 million dollars or seventy six billion krónur.

Pulling The Strings: The Influential Power Of Women In Viking Age Iceland

The Icelandic government isn’t paying men to marry Icelandic women. The following yr, the Icelandic parliament passed a legislation guaranteeing equal pay. The strike is believed to have paved the way in which for Vigdís Finnbogadóttir who five years later was elected the primary feminine president. Employers prepared for the twenty fourth of October, the day without women, by shopping for candy, paper and pencils as undeniably fathers would have to convey their youngsters into work. Humorously, sizzling canine, one of the best Iceland meals to make sold out in lots of grocery stores.

If Edda had had this app, nevertheless, she could have prevented that whole problem. So whereas in many nations individuals are utilizing their iPhones to maximise their dates, in Iceland, more isn’t always better, as a result of the extra you date, the extra likely you’re to date your cousin.

Revisiting The Gender Pay Gap In Europe

In Iceland it’s neither unusual nor is it frowned upon for people to have kids with more than one associate. Iceland was the second country to set up a SlutWalk occasion only months after it originated in Canada. Iceland had the first democratically elected female president on the earth, Vigdís Finnbogadóttir.

Women don’t take up their husband’s final name after they get married. However, their last names normally come from their father’s first name. Although there has been a huge change in this over the last 20 years. More and extra women are giving their kids their first name as their children’s last.

Of The Candidates For The Last Elections In Iceland ( Were Women

Growth slowed between 2000 and 2002, but the economy expanded by four.3% in 2003 and grew by 6.2% in 2004. Inflation averaged merely 1.5% from 1993 to 1994, and only one.7% from 1994 to 1995.

Okay, technically all people everywhere is said, but in Iceland persons are far more related than they are in, say, the United States. The inhabitants of Iceland right now is about 320,000, and, accord to the family tree web site, the whole population of native Icelanders derives from a single family tree. As the Icelandic information web site News of Iceland says, that’s sufficient people who not everyone is aware of one another, but few sufficient to imply that two Icelanders who’re relationship would possibly truly be cousins. Inflation rose to 43% in 1974 and fifty nine% in 1980, falling to 15% in 1987 however rising to 30% in 1988. Iceland experienced reasonably sturdy GDP growth (three% on average) from 1995 to 2004.

By the top of 2018, Bitcoin mining is anticipated to consume more electrical energy in Iceland than all the nation’s residents mixed. Fisheries and related sectors—in recent years labelled «the ocean cluster»—was the one most important a part of the Icelandic financial system representing an total contribution to GDP of 27.1% in 2011. Many of those jobs are supplied by technological firms that manufacture gear for fisheries companies and by companies engaged within the superior processing of marine merchandise or in biotechnical production. By distinction, aquaculture remains a really small trade in Iceland, using solely around 250 folks for a production of 5,000 tonnes.

four,300 gigawatts hours were used in the production that year, amounting to just about one-fourth of all electrical energy produced in the country. In October 2013, Norðurál announced the beginning of a 5-yr project aimed click here for more at rising its production by an additional 50,000 mtpy. Egilsstadir is the biggest metropolis in terms of population with approximately 2,350 folks and is located in East Iceland.

They decided to name the strike “a day off” as they figured that this phrasing could be more interesting to attract in individuals. Moreover that ladies who would partake couldn’t be fired as they’re allowed to “take a time off” however may have been punished or even fired for simply walking out without an evidence. In 1975, Icelandic women who worked outside the house earned lower than sixty percent of what men would get for the same job. So, when the United Nations announced that 1975 would be International Women’s Year an concept sparked within the Redstockings women’s group to strike as one of the honorary occasions celebrating the International Women’s Year. When the monetary crash occurred in 2008 it was, in massive part, women who led the rescue.