Economic statistics - 01.10.1979, Síða 2

Economic statistics - 01.10.1979, Síða 2
Government In 1918 lceland became a sovereign state in union with Denmark, and total independence was declared in 1944. The legislative power of the country is vested in the Parliament, the Althing, which consists of 60 members and is divided into two chambers. The Althing is chosen by popular vote for a term of four years. Presently, four political parties are represented in the Althing. The Inde- pendence Party has 20 seats, the Progressive Party 12, the Social Democratic Party and the Peoples' Party 14 seats each. The current government is a coalition government consisting of the Progressive Party, the Social Democrats and the Peoples's Party. Prime Minister is Mr. Ólafur Jóhannesson. The highest offiœ in the state is that of the Presidency with similar powers as a constitutional monarch. The Presi- dent is elected by popular vote for a term of four years. The current President and the the third President of the Republic of Iceland is Dr. Kristján Eldjárn, first elected to that post in 1968. The seat of the Government is in Reykjavík, the Capital. Geographv Thousands of square kilometers Geographic size .............................. 103.0 Thereof: Altitude 0-200 meters ...................... 24.7 Altitude 200-400 meters .................... 18.4 Altitude above 400 meters .................. 59.9 Glaciers ...................................... 12.0 Lavafields .................................... 11.0 Lakes .......................................... 3.0 Cultivated area ................................ 1.1 Cultivatable area ............................. 20.0 The seabed out to 200 meter depth ............ 111.0 The seabed out to 400 meter depth ............ 183.0 The fishing zone (200 miles) ................. 758.0 The nation Population December lst 1976 ................ 220918 Population December lst 1977 ................ 222470 Population December lst 1978 ................ 224384 Thereof Reykjavík and neighbouring localities ............................... 118437 Life expectancy, males: 73.0 years Life expectancy, females: 79.2 years Average annual population growth: 1966-1970 I.lpercent 1971-1975 .....................1.4 per cent 1975 l.lpercent 1976 ..................... 0.7 per cent 1977 ..................... 0.7 per cent 1978 ..................... 0.9 per cent Language The language in Iceland is Icelandic, which belongs to the Nordic group of the Germanic languages. Education Education in Iceland is compulsory. There is one uni- versity, located in Reykjavík, with an enrollment of some 3000 students. Membership in international organizations The United Nations (1946), The Nordic Council, IMF (1947), TheWorldBank (1946), IFC( ), IDA( ), GATT ( ), OECD ( ), EFTA (1970), NATO (1949) Occupational distribution 1977 Agricuiture.......................... 10.9 per cent Fisheries and processing ............ 13.8 per cent Manufacturing ..................... 16.9percent Construction ........................ 10.7 per cent Commerce ............................ 14.4 per cent Communications.........................7.8 per cent Services .............................25.5 per cent 100.0 per cent Currency The Icelandic currency is the króna. At theend óf 1978 I króna was roughly equivalent to 0.31 U.S. cents (See, furthermore, the table on exchange rates on page 17). The Central Bank The responsibility of note issue in Iceland is in the hands of the Central Bank (Seðlabanki fslands). The Central Bank was formally established in 1961, but before that the central banking functions were carried out within the National Bank, currently the largest commercial bank in Iceland. The Board of Directors is elected by the Althing for af term of four years. Its current chairman is Mr. Ingi R. Helgason, attorney. The gov- ernors of the Bank are appointed by the Minister of Commerce and Banking for an indefinite term. Foll- owing is a list of the principal officials of the Central Bank of Iceland. Board of Govemors:Dr. Jóhannes Nordal, Chairman Mr. Davíð Ólafsson Mr. Guðmundur Hjartarson Directors: Mr. Björn Tryggvason Mr. Sigurgeir Jónsson Mr. Bjarni Bragi Jónsson Banking There are 7 commercial banks in Iceland, 3 of which are government owned. Furthermore there are 42 savings banks. These institutions carry out all the traditional operations of banking.

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Economic statistics

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