Iceland’s economy is set to remain largely stagnant this year in a revised forecast by the nation’s statistics agency, adding to evidence that the western Europe’s highest borrowing costs are weighing down the Atlantic island’s output.
Statistics Iceland sees the country’s gross domestic product eking out a gain of 0.1% this year, down from the 0.9% expansion it saw in June, according to a statement on Monday. GDP shrank 1.9% in the first half, mainly due to weaker fish exports and changes in inventories, it said.
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Publish date : 2024-11-04 05:15:00
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