Bloomberg News

Iceland Parliament Approves Reductions in Ministries to Eight

May 11, 2012

Iceland’s parliament passed a motion allowing the government to cut the number of ministries to eight from 10 through mergers and a redistribution of roles.

The changes were backed by 28 lawmakers in the 63-member Althingi, according to a statement on the Reykjavik-based legislature’s website. Twenty-one lawmakers opposed the move.

A new Industry and Innovation Ministry will replace the current Ministry of Industry, Energy and Tourism and the Ministry of Fisheries and Agriculture.

The duties of the Ministry of Economic and Business Affairs will be divided between that new ministry and the Ministry of Finance, which will be renamed the Ministry of Finance and Economic Affairs. The Environment Ministry will be renamed the Ministry for the Environment and Natural Resources.

“The intention of these changes is to make the government more powerful and productive,” according to the motion.

The changes will take effect on Sept. 1.

To contact the reporter on this story: Omar R. Valdimarsson in Reykjavik valdimarsson@bloomberg.net.

To contact the editor responsible for this story: Jonas Bergman at jbergman@bloomberg.net


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