Efnahagsstjórnun

Efnahagsstjórnun is an Icelandic term referring to economic governance or economic management, encompassing the systems and processes through which a nation or region plans, regulates, and coordinates economic activities. At its core, it involves macroeconomic policy formulation—including fiscal and monetary measures, market regulation, industrial policy, and social welfare frameworks—with the goal of achieving economic stability, sustainable growth, and social equity. In contexts like Iceland, this approach often emphasizes collaborative governance, integrating government, private sector, and civil society stakeholders to balance efficiency with societal objectives through legislation, agreements, and institutional oversight. The effectiveness of such governance is critical for mitigating economic shocks, fostering inclusive development, and ensuring long-term economic resilience. As a framework for managing economic systems, efnahagsstjórnun reflects the integration of policy design and practical implementation to serve broader national development goals.