The household finances of Icelanders continue to improve, the latest data from Statistics Iceland reveal as fewer households report to be in trouble paying their monthly bills. In 2016 13% of Icelandic households had trouble paying their bills due to financial difficulties, compared to 19% in 2010.
The Icelandic figure is above the European average. According to Eurostat 10.4% of the population in the European Union (EU) were in arrears with their mortgage, rent or other items, such as utility bills. Looking only at mortgage or rental payments, the proportion stood at 3.5% in the EU, compared to 8% for Iceland.
While the figures for Iceland are higher than the EU average they are lower than for some other countries that were particularly hard hit by the 2008 financial crash, including Ireland and Greece. They also represent a significant drop since 2010 when 19% of Icelandic families were in arrears on payments.
The number of families who report they have experienced financial difficulties, meeting unexpected but necessary expenses, has also dropped from nearly half in 2010 to a third in 2016.
The household finances of Icelanders continue to improve, the latest data from Statistics Iceland reveal as fewer households report to be in trouble paying their monthly bills. In 2016 13% of Icelandic households had trouble paying their bills due to financial difficulties, compared to 19% in 2010.
The Icelandic figure is above the European average. According to Eurostat 10.4% of the population in the European Union (EU) were in arrears with their mortgage, rent or other items, such as utility bills. Looking only at mortgage or rental payments, the proportion stood at 3.5% in the EU, compared to 8% for Iceland.
While the figures for Iceland are higher than the EU average they are lower than for some other countries that were particularly hard hit by the 2008 financial crash, including Ireland and Greece. They also represent a significant drop since 2010 when 19% of Icelandic families were in arrears on payments.
The number of families who report they have experienced financial difficulties, meeting unexpected but necessary expenses, has also dropped from nearly half in 2010 to a third in 2016.
