Magazines during recession

Date of publication: November 27, 1985

Author: Søren Heede


Abroad the economic conditions of Denmark are considered to be favourable, compared with many other European countries, a truth with many modifications, participated in the general economic growth of the western societies, bringing the standard of living of the ordinary household up to a level, being almost unique in the world. However, the first and especially the second oil crisis brought Denmark to the edge of the economic catastrophy. A deficit in the balance of payment of 20 billions, a foreign debt of almost 300 billions, a deficit in the Government budget of more than 50 billions per year, and an enormous Government debt, totally at 420 billion placed Denmark in a position, where there were no degrees of freedom in the economic policy. Therefore, for the last few years, a tight economic policy has been executed by the Government. The automatic regulation of salaries in accordance with prices has been abandoned, wage negotiations have been restricted to 2 per cent increase per year, new taxes have been introduced, and in 1987 a total new tax system will be introduced.

Søren Heede


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