2018 Economic Report issued

The 2018 Economic Report indicates that the current economic conditions are favourable. The positive economic trends will, among other things, permit smart investment to boost positive development in society through the achievement of structural and long-term gains.

This will allow us to keep spending to the absolute minimum in order to sustain and, where possible, further improve our competitiveness as a nation.

The Report also points to the need to carry out structural changes in the setup of Greenland society, as part of the efforts to achieve overall political objectives.

Based on the new coalition agreement, the Government of Greenland will thus be aiming to create a more self-sustaining economy, and prepare for the hand-over of areas from the Danish State. This will be achieved by pursuing a balanced fiscal policy, based on prudent spending informed by visions and objectives.

In general, the coalition parties will seek to boost the development of Greenland, and raise its standing in the global community through concerted efforts in all parts of society. This will entail the necessary reforms to improve the standard of living of the population, and ensure sustained economic development by creating jobs and raising the employment rate.

The present 2018 Economic Report describes the basis for achieving these objectives. On the one hand, it describes the current and projected economic situation, and on the other hand provides a situation report on trends in key areas of society.

The Report also describes the Government of Greenland's recently adopted goals and principles for its economic policy, which will have a bearing on the efforts to realise the coalition agreement's objectives and initiatives.

2018 Economic Report issued

Any further questions contact: Private Secretary to the Minister for Finance Qarsoq Høegh-Dam direct +299 34 52 12 qars@nanoq.gl