This program is focused onto the following directions:
Generating stability with exchange rates
Rebuilding confidence in the monetary policy
Better managing and restricting public debt
Reforming and restructuring the banking sector to insure more transparency and the implementation of internationally recognized policies (The Icelandic Government Information Center, 2008).
4. Short-term forecast for the economy
The 2008 has severely impacted the Icelandic economy. In light of the dramatic effects as well as the efforts put into the reconstruction and reconsolidation of the Islanding economy, major growths are not expected. In other words, it is generally assumed that the country will regain its stability through small and gradual victories, which will, for the time being, only manage to stabilize the economy. Growth rates are expected to remain low and for 2010 for instance, the growth rate of the gross domestic product is expected to be close to zero (Central Intelligence Agency, 2010).
In terms of actually achieved stability, this is expected to be accomplished by 2013, and it would constitute the results of years of austerity strategies. Throughout the austerity program, the spending of the government would be decreased and the federal budget would be better balanced among revenues and expenditures (The Icelandic Government Information Center, 2008).
Other aspects which could be forecasted include:
2010 is expected to close on a negative growth in GDP of 3.042 per cent; 2011 could however witness an increase in the gross domestic product. Economy Watch for instance estimates a 2.3 per cent increase in the country's national output. By 2012, the GDP growth rate could be of 4.5 per cent (Lansbanki, 2008)
Inflation in 2011 is expected to reach a value of 3.815 per cent, a significant decrease when compared to the current 12 per cent
The unemployment rate is expected to remain rather constant. Its 2011 value is estimated at 8.47 per cent of the labor force (Economy Watch, 2009)
At a national level, it is expected that the focus on private pension...
This could indicate that the latter two countries seek to join the EU in hopes of more prosperous futures. e) State of education in the country From the standpoint of education, this is best ranked in Belgium, with a score of 8.8 on a scale from 1 to ten, and it is closely followed by France, with a score of 8.5, on the same scale. The Germans ranked their educational system
Over the next three and a half years they grew to over $140 billion" (Lewis 2009, p.1). "By 2006 the average Icelandic family was three times as wealthy as it had been in 2003, and virtually all of this new wealth was one way or another tied to the new investment-banking industry," while the real estate market, so vitally necessary to the lifestyle of most Icelanders, also expanded stratospherically.
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Significance of the Study This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections
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