The Icelandic government will increase foreign aid in the coming years from 0.28% of GDP to 0.35% of GDP by 2022. Iceland will not be able to meet the UN's target of 0.7% of GDP being spent on foreign aid by 2022 Guðlaugur Þór Þórðarson, the Minister of Foreign Affairs, told the local TV station Stöð 2.
Icelandic spending on foreign aid has increased significantly in recent years. Since 2013 spending on foreign aid has been increased by 70%. Spending on foreign aid was cut significantly following the 2008 financial collapse. Guðlaugur told Stöð 2 that spending on foreign aid has increased more in recent years than virtually any other budget item. Total spending on foreign aid was 7.2 billion ISK (67 million USD/57 million EUR) in 2017.
Iceland now spends slightly more on foreign aid than the OECD average, but still spends significantly less on foreign aid than the other Nordic countries. Guðlaugur Þór told Stöð 2 that it was important Iceland learn from the lessons of the other Nordic countries.
The Icelandic government will increase foreign aid in the coming years from 0.28% of GDP to 0.35% of GDP by 2022. Iceland will not be able to meet the UN's target of 0.7% of GDP being spent on foreign aid by 2022 Guðlaugur Þór Þórðarson, the Minister of Foreign Affairs, told the local TV station Stöð 2.
Icelandic spending on foreign aid has increased significantly in recent years. Since 2013 spending on foreign aid has been increased by 70%. Spending on foreign aid was cut significantly following the 2008 financial collapse. Guðlaugur told Stöð 2 that spending on foreign aid has increased more in recent years than virtually any other budget item. Total spending on foreign aid was 7.2 billion ISK (67 million USD/57 million EUR) in 2017.
Iceland now spends slightly more on foreign aid than the OECD average, but still spends significantly less on foreign aid than the other Nordic countries. Guðlaugur Þór told Stöð 2 that it was important Iceland learn from the lessons of the other Nordic countries.
