Tag
Type

Search by tags

Showing 101-150 of 220
Order by:
27. Sep 2019Ministry of Finance and Economic Affairs, Economic affairs and public finances, Other

Third meeting of the Financial Stability Council in 2019

NOTE: This article is more than 5 years old. 27 September 2019 / Ministry of Finance and Economic Affairs Third meeting of the Financial Stability Council in 2019 The Financial Stability Council held its third meeting in 2019 on Thursday, September 26. Growth prospects in the global economy have worsened and uncertainty in international markets has increased since the last meeting of the Financial Stability Council

06. Sep 2019Ministry of Finance and Economic Affairs, Economic affairs and public finances

Fiscal budget proposal for 2020: Strong investment and tax reductions

The fiscal budget proposal for 2020 is introduced today and will be presented before Parliament on Tuesday 10 September 2019. The introduction has not previously taken place in as timely a manner prior to the first round of discussions. The purpose is to accede to the wishes of members of Parliament for more advance notice to acquaint themselves with the topic.

24. May 2019Ministry of Finance and Economic Affairs, Economic affairs and public finances

Fitch ratings upgrades Iceland´s ST ratings to F1+; affirms LT ratings at A stable

Today Fitch ratings has published a new report on Iceland´s sovereign ratings. Iceland´s Short-Term (ST) foreign- and local currency ratings are upgraded to F1+ from F1, in line with the agency´s publication from 3rd of May. Iceland´s Long-Term (LT) ratings are affirmed at A with stable outlooks. Iceland´s country ceiling was also raised from A to A+, due to the almost full lifting of capital controls.

23. Mar 2019Ministry of Finance and Economic Affairs, Economic affairs and public finances

Fiscal Strategy Plan for 2020-2024: Increased resilience in the economy

The fiscal strategy for the years 2020-2024 reflects the strong position and discipline in government finances in a slower-paced economy. The strategy is a key factor in the important task of co-ordinating public finances, monetary policy and labour market developments to maintain economic stability and the prosperity people in Iceland are currently experiencing

04. Mar 2019Economic affairs and public finances, Ministry of Finance and Economic Affairs

Removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows

Act no. 14/2019, which amends the Foreign Exchange Act, no. 87/1992, and the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, was published in the Law and Ministerial Gazette (Stjórnartíðindi) on 4 March 2019; cf. the notice on the Law and Ministerial Gazette website. The amendments entailed in the Act were announced in a press release posted on the Central Bank website on 7 December 2018, when the bill of legislation was introduced. The Act will enter into force tomorrow, 5 March 2019.

19. Feb 2019Ministry of Finance and Economic Affairs, Economic affairs and public finances

Tax burden on people in the lowest income group reduced

The tax burden on persons in the lowest income group would be reduced by 2 percentage points if the changes to the tax system which the government is proposing are adopted. These changes are in line with the government’s policy declaration of February 2018. In particular, they would improve the position of women, people aged 18-24, people aged 25-34, persons with disabilities, senior citizens, and those who do not own their own homes or who receive housing supplements.

10. Dec 2018Ministry of Finance and Economic Affairs, Economic affairs and public finances, Operations and state assets

White Paper on a Future Vision for the Financial System

A good regulatory framework and robust supervision, efficient banking operations and sound ownership of financial undertakings are the three main pillars which must shape the future vision of the Icelandic financial system. This is the conclusion of the working group appointed in February to prepare a White Paper on the financial system.

07. Dec 2018Ministry of Finance and Economic Affairs, Economic affairs and public finances

Amending bill of legislation on liberalisation of capital controls on offshore króna holders and implementation of special reserve requirement on capital inflows

This morning the Government agreed to present to Parliament a bill of legislation from the Minister of Finance and Economic Affairs, which provides for amendments to the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, and the Foreign Exchange Act, no. 87/1992.

06. Nov 2018Legislation, Economic affairs and public finances, Ministry of Finance and Economic Affairs, Acts of Parliament

Public Finance Act

06 November 2018 / Ministry of Finance and Economic Affairs Public Finance Act Public Finance Act Nr. 123/2015(last updated 2016) Tags Economic affairs and public finances Ministry of Finance and Economic Affairs Acts of Parliament Go back Disclaimer: This section of the site details available translations on legislation relating to the Government Offices in Iceland. In case of any discrepancies between the translations and the original text in Icelandic, the original text as published in the Icelandic Legal Gazette prevails

11. Oct 2018Ministry of Finance and Economic Affairs, Economic affairs and public finances

Government accounts 2017

The results of the Government accounts for 2017 have now been published and the accounts sent to Parliament. The accounts show a surplus of ISK 39bn, showing Iceland’s strong fiscal position. Revenues totalled ISK 783bn and operating expenditures ISK 711bn. Net financial expense was negative in the amount of ISK 74bn, and the share in earnings of Government-owned companies was positive by ISK 40bn.

21. Sep 2018Operations and state assets, Economic affairs and public finances, Ministry of Finance and Economic Affairs

Intent to establish a sovereign wealth fund in Iceland

The authorities intend to establish a sovereign wealth fund, the National Fund of Iceland. The purpose of the Fund will primarily be to serve as a sort of disaster relief reserve for the nation, when the Treasury suffers a financial blow in connection with severe, unforeseen shocks to the national economy, either due to a plunge in revenues or the cost of relief measures that the government has considered unavoidable to undertake.

04. Apr 2018Ministry of Finance and Economic Affairs, Economic affairs and public finances

Fiscal plan 2019-2023 Improved social infrastructure, lower taxes and and better public services

The first Fiscal Strategy Plan of the coalition Government formed by the Left-Green Movement, the Independence Party, and the Progressive Party, reflects the Government’s commitment to ensure that society as a whole will enjoy the benefits of the ongoing economic growth phase while strengthening social stability and the quality of life for the future.

23. Feb 2018Ministry of Finance and Economic Affairs, Economic affairs and public finances

Treasury sells 13% stake in Arion Bank to Kaupskil

The Minister of Finance and Economic Affairs has, upon consultation with the Government and the Ministerial Committee on Economic Affairs and Financial System Restructuring, agreed to Icelandic State Financial Investments’ (ISFI) proposal concerning the sale of the State’s 13% holding in Arion Bank to Kaupskil ehf., a subsidiary of Kaupþing ehf., for ISK 23.4 bn. The sale is to take place on the basis of purchase rights to the holding, according to a shareholder agreement from 2009 and the Act on the Sale of State Holdings in Financial Undertakings, no. 155/2012. Article 1, Paragraph 2 of the Act explicitly discusses sales relating to the purchase option provision concerning Arion Bank; furthermore, authorisation has been included in the fiscal budgets approved by Parliament since 2014.