IMF Staff Country Reports

Denmark: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Alternate Executive Director for Denmark

September 13, 2024

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International Monetary Fund. European Dept. "Denmark: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Alternate Executive Director for Denmark", IMF Staff Country Reports 2024, 292 (2024), accessed September 26, 2024, https://doi.org/10.5089/9798400287480.002

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Summary

Denmark has demonstrated remarkable resilience in the face of the energy crisis, high inflation, and tighter financial conditions. In recent years, growth has been increasingly driven by an exceptional surge in the pharmaceutical sector, while the rest of the economy has largely stagnated. Staff expect robust growth to continue in the near term, driven by pharmaceutical exports, the reopening of the Tyra natural gas field, and a gradual recovery in the non-pharmaceutical sectors. With the sharp decrease in global energy prices and lackluster domestic demand, inflation has fallen sharply. The positive outlook is, however, clouded by considerable external risks, most notably geopolitical tensions. The financial system has remained stable, although risks remain due to still-high interest rates and vulnerabilities in the commercial real estate markets.

Subject: Financial institutions, Fiscal policy, Fiscal stance, Labor, Labor markets, Loans, Securities

Keywords: CPI data, Currency of Denmark, Fiscal stance, Fluctuation band, Global, Labor markets, Loans, Securities, Staff appraisal, Staff expectation

Publication Details

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