Iceland set for change of government as polls close in snap election

1/12/2024 8:13

        Iceland’s centre-left Social Democrats looked on course to win the most votes when polls closed in a snap election on Nov 30, suggesting the political landscape was likely to be shaken up, although a snowstorm could still delay tallying of ballots.
        The North Atlantic island nation, home to 384,000 people, has enjoyed relative political stability since 2017 and ranks among the wealthiest countries in Europe per capita, bolstered by tourism, fisheries, and cheap geothermal- and hydroelectric-powered aluminium production.
        However, inflation and borrowing costs that are near their highest level since the 2008 financial crisis have helped spark an economic slowdown, propelling growing hardship to the forefront of voters’ concerns.