Iceland’s robust economic growth will
push economic activity past its pre-crisis peak
this year. The economy grew by 2¼ percent on
average in the past 3 years—a turnaround from
negative growth in 2009–10—exceeding growth
among the euro area crisis economies and the
OECD average. Economic activity is expected to
surpass pre-crisis levels this year. Inflation has
fallen in range with the CBI target, helped by an
appreciating króna, after peaking at 18½ percent
at end-2008 and early 2009. Iceland remains a
wealthy country with low unemployment