IMD Business School ranks Iceland 16th in the world’s competitiveness ranking, Denmark 1st, Sweden 4th, Finland 8th and Norway 9th, how to make the country stand out in the world. Is urging authorities to consider. scale.

Culture and Trade Minister Lilja Alfreðsdóttir said at a meeting between the Icelandic Chamber of Commerce and the Bank of Allion that long summer vacations and shorter working hours would boost inflation, Vísir reports. There are not enough workers to meet the demands of inflationary pressure, Lilya said.

She also compared the Icelandic and American economies. “Inflationary pressures are similar. They are experiencing the same thing as we are because of the labor shortage. This will be a persistent problem in Western countries for the next two to five years. If we don’t see 2% growth in the workforce, we can’t expect long-term economic growth. Japan is a good example. They fell asleep at the expense of population growth. “

Lilja wants to lift age-related retirement restrictions and give him more freedom of choice in employment. She says it’s “wrong” to get people out of the labor market because of their age.

Regarding foreigners’ competitiveness and direct investment, Lilja believes that restrictions on foreign investment need to be relaxed. In this context, the tourism industry has changed the economy significantly in recent years.

“Suddenly we have an economy that produces a larger surplus than we use,” Lilja mentions the fact that the tourism industry has generated so much foreign currency income and foreign exchange reserves have grown. Said.

She believes that the next step is to select where the state should receive direct investment. “It’s about entering an area where things are going well. It has worked in many economies.”

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