Iceland GDP to grow by 6%

The Icelandic economy, which grew by 7.2% in 2016, is expected to continue to boom. Statistics Iceland projects GDP will grow by 6% in 2017, Yahoo reported. This is a significant upward revision from the last projection, issued in February. According to the February 17 Economic Forecast GDP was expected to grow by “only” 4.3%. Statistics Iceland expects the strong growth to be fueled by a boom in tourism as well as strong private consumption and investment. Private consumption is expected to grow by 6.9% and investment by 9.8%.