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Iceland's GDP grows 1.9 percent in 2014
(MENAFN) Official figures showed that Iceland's GDP reached record rates last year as the country claws its way back from the demise of its bloated financial sector in 2008, The Peninsula Qatar reported.
At constant prices, Iceland's gross domestic product (GDP) grew by 1.9 percent in 2014 to beat a GDP record dating back to pre-crisis levels, according to figures released by Statistics Iceland.
The country was hit hard as the crash of US bank Lehman Brothers caused the collapse of its three largest banks. It then became the first Western European nation to appeal to the IMF to save its economy.
"With the growth of the population the output per capita is still lower than in 2008, and even if we don't lack jobs, we lack jobs that pay well, especially for young professionals," an economist said.
At constant prices, Iceland's gross domestic product (GDP) grew by 1.9 percent in 2014 to beat a GDP record dating back to pre-crisis levels, according to figures released by Statistics Iceland.
The country was hit hard as the crash of US bank Lehman Brothers caused the collapse of its three largest banks. It then became the first Western European nation to appeal to the IMF to save its economy.
"With the growth of the population the output per capita is still lower than in 2008, and even if we don't lack jobs, we lack jobs that pay well, especially for young professionals," an economist said.
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