Iceland

Stephen Ciennik

Overall Score: 72 World Ranking: 26

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Population: .3 million/316.4 million

GDP: $13.2 billion/16.8 trillion 2.9% Growth/1.9% 41k Capita/53101 Unemployment: 5.6%/7.5% Inflation: 3.9%/1.5% FDI Inflow: 347.4 million/187.5 billion

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7 Major Sources of Economic Progress

Legal System

  • 1.All learners have equal opportunities to attend school and acquire education in accordance with their ability and needs.
  • 2.Schools must attend to the ability and needs of all learners.
  • 3.Learners and/or their parents decide on which school they attend.
  • 4.Learners in need of special support have the right to additional support and special provision.
  • Competitive Markets

    The markets are very competitive in Iceland because there is somewhat a high percent of unemployment.

    Limits of government regulation

    According to the Icelandic constitution everyone is equal before the law and enjoy human rights regardless of gender, religion, opinions, nationality, race, skin colour, financial status, family, and status in any way. Men and women shall have equal rights in every regard.

    An efficient capital market

    Stock markets are the best spot of find this information in Iceland. They show the prices right when the prices go up or go down.

    Monetary Stability

    The Central Bank implements its monetary policy by managing money market interest rates, primarily through interest rate decisions on deposits and loans with credit institutions, which then affect other interest rates. Yields in the money market also have a strong impact on currency flows and thereby on the exchange rate, and in the long run on domestic demand.

    Low Tax Rates

    The Corporate Tax Rate in Iceland stands at 20 percent. Corporate Tax Rate in Iceland averaged 22.90 percent from 1995 until 2014, reaching an all time high of 33 percent in 1996 and a record low of 15 percent in 2008. Corporate Tax Rate in Iceland is reported by the Directorate of Internal Revenue.

    Free Trade

    Iceland is the first country to allow free trade with china but they do not allow free trade with every country.

    This video shows how iceland is and sshows all the agriculture and just about a little of everything about the great country of Iceland

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