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Iceland plans to cut debt to 60 pct of GDP by 2018

Xinhua, April 2, 2015 Adjust font size:

Iceland plans to reduce its net debt to approximately 25 percent of GDP by the end of 2018, from 40 percent of GDP at the end of 2014, according to a government plan released on Tuesday.

According to the Medium-Term Debt Management Strategy 2015-2018, released by Iceland's Ministry of Finance and Economic Affairs, the country aims to reduce its total debt to below 60 percent of GDP by 2018. In 2014, gross treasury debt was equivalent to 75 percent of GDP.

The country hopes to ensure the treasury's financing need and payment obligations are met at the lowest possible cost.

According to the strategy, Iceland will encourage further development of efficient primary and secondary markets for domestic government securities. Enditem