Danish Government Agrees With Opposition on Growth Plan

Denmark’s government agreed with the opposition on additional investments to boost the Nordic economy as it struggles to overcome a housing slump.

The government reached an accord on the second part of a 75 billion-krone ($13 billion) plan through 2020 to create jobs and strengthen businesses, the Copenhagen-based Finance Ministry said today in a statement.

The deal includes 15 billion kroner in additional investments and lower corporate taxes, the ministry said. The Social Democrat-led ruling coalition and the opposition earlier this week agreed on a 17 billion-krone package of measures including tax deductions on home refurbishments and reduced levies on soft drinks and beer designed to curb border trade.

Gross domestic product shrank 0.7 percent in the fourth quarter from the third as Denmark’s economy suffered its worst year since the height of the global financial crisis in 2009. The nation has yet to emerge from a housing crisis that has sent property values down more than 20 percent since 2007 and wiped out more than a dozen regional banks. GDP will grow 0.5 percent

Before it's here, it's on the Bloomberg Terminal.