Denmark: Staff Report for the 2004 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 240

Publication date: August 2004

ISBN: 9781451811056

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Economics- Macroeconomics , Public Finance , Taxation - General , ISCR , CR , expenditure growth , growth , staff appraisal , reform , product market reform , wage distribution , employment outcome , Lisbon employment objective , Employment , Labor markets , Labor supply , Labor taxes , Global

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Summary

The staff report for the 2004 Article IV Consultation on Denmark focuses on economic developments and policies. Labor market reforms led to a sustained increase in structural employment, while careful fiscal policy in the context of a clear medium-term sustainability strategy delivered budget surpluses and a steady decline in government debt as a share of GDP. Fiscal policy in Denmark is based on a medium-term strategy to accommodate the pressures from an aging population while maintaining the welfare state without increasing taxes.