Denmark is one of the few countries that has been able to boost its economy’s output and achieve growth in household incomes and at the same time dramatically increase its public debt in less than two years of the coronavirus pandemic.
The success of the fight against the coronavirus pandemic can be evaluated according to various aspects. It can be measured by the number of deaths from covid, the duration of school closures, but also by the impact on the economy of a particular country. And it is from the latter point of view that Denmark has managed the pandemic best among OECD countries. Analysts at The Economist are convinced of this.
Denmark seems to have found the optimal combination of economic growth, an increase in debt, household incomes or a change in the volume of investment. In the third quarter of last year, the Danish economy exceeded by more than two percent its performance from the third quarter of 2019, when the new type of coronavirus was barely known in China.
During the two years, investment in Denmark also grew by 12.1 percent, the highest of any OECD country. At the same time, household incomes increased by 3.4 percent, all while public debt increased by only 3.5 percentage points. Slovenia is the second best in the comparison, Spain is the worst.