2006 release of Information Memorandum on the Faroe Islands

The Faroe Islands: Information Memorandum 2006 is now available from Landsbanki Føroya

Excerpt:

There was negative growth of –2.75% in 2003. Only estimates are available for 2004, 2005 and 2006: For 2004, the growth is estimated to have been 0.7%, for 2005 2.4%, while the estimated growth for 2006 is 6.4%.

Despite contractual wage increases of 4% in 2004, total wages and salaries paid in 2004 increased by only 0.9%. Total wages increased 2.9% in 2005. The first six months of 2006 saw total wages increase by 6.1%, compared to the same period in 2005.

Tags: Landsbanki Føroya Landsbankin Føroyar Faroe Islands Information Memorandum economy fact sheet búskapur currency DKK Faroese króna privatization Faroese securities market factbook