The International Monetary Fund (IMF) said the economy of Scandinavian country may grow by 1.9 per cent this year and 1.6 per cent next year, down from 2.5 per cent last year, according to the IMF’s 2024 Article IV Staff Concluding Statement.
The Executive Board of the IMF concluded the Article IV consultation with Denmark by stating the following regarding the country’s economy on Friday:
The Danish economy has continued to expand at a robust pace, driven by an exceptional surge in the pharmaceutical. In contrast, the rest of the economy has remained relatively subdued, aside from the maritime and information and communication technology industries, reflecting sluggish demand, according to the statement.
Inflation averaged 3.4 per cent last year and may reach 1.8 percent in 2024 and 2.2 per cent in 2025. Inflationary pressures have eased significantly in recent months amid lower global energy prices and weak domestic demand, according to the IMF.
However, inflation “might temporarily edge up in the coming months due to the lagged effect of last year’s wage collective bargaining agreement before stabilizing at around 2 percent during the second half of 2025,” the statement said.
