“The Treasury has run a deficit for eight consecutive years. We have now turned that deficit into a surplus and placed public finances on a firmer footing. This has been made possible by limiting spending growth, streamlining government operations, and prioritising funding for welfare and essential services. A balanced budget is not an end in itself; it is a prerequisite for lowering inflation and interest burdens, while ensuring that the government can continue to provide vital services in the future,” says Daði Már. Austerity measures totalling ISK 44.2 billion will be implemented to improv…

According to S&P, the positive outlook primarily reflects the potential for Iceland's budgetary performance to strengthen over the next two years, supporting a sustained decline in net general government debt. The agency forecasts that the general government budget will move close to balance after 2027. S&P highlights Iceland’s strong institutional framework and very high per capita income. The country's swift and effective response to recent shocks, including the pandemic and volcanic eruptions, underpins the agency's view that policymaking is generally effective and stable. However, S&P not…

1. The Government of Israel’s actions in the West Bank are undermining the possibility of a two-State solution. The situation is rapidly deteriorating amid unprecedented levels of settler violence and settlement expansion, including the unacceptable decision to publish tenders for the E1 settlement project. UK Prime Minister Andy Burnham, the President of France Emmanuel Macron and Prime Minister of Canada Mark Carney have agreed on the need to take action to prevent further damage. 2. Today,Canada, Denmark, Finland, France, Iceland, Ireland, Norway, Poland, Portugal, Spain, Sweden and the UK…