Weekly economics overview
In eight municipalities, the employment rate of male non-Europeans is higher than the employment rate of male Danes. Where? Bornholm, Langeland, Lolland, Morsø, Rebild, Vordingborg, Vesthimmerland, and Fanø.
- On a national level, the employment rate of male Danes is 67.1%, while for male non-Europeans it is 59.1%. For female Danes, it is 61.3%, while for female non-Europeans, it is 48%.
The European Central Bank lowered the interest rate by 0.25% to 3.5%. Denmark’s National Bank followed immediately by also lowering the interest rate by 0.25% to 3.25%. Good news for the first-time home buyers and current mortgage holders. Not so great for savings accounts. Why is the interest rate going down? Inflation has stabilized, and it should further push interest rates down in the next couple of months.
60,000 companies received more pandemic subsidies than they were entitled to. The state sent repayment requests in the value of 4.9 billion DKK. The highest bills have been sent to Copenhagen Airport (41 million DKK); Tvilum, H&M (18 million DKK each); HB-Care, and TEFA (10 million DKK each).
To strengthen the entrepreneurial environment in the European Union, approximately 6,000 billion DKK must be invested annually. The former president of the European Central Bank, Mario Draghi, published a report on the EU’s competitiveness compared to other markets, and the situation looks dire. To keep up with China and the US, we need massive investments of more than double the Marshall Plan after the second world war.
- What to expect? EU member states will most likely go again for joint borrowing from the financial markets. Entrepreneurs can expect a wave of opportunities in the next couple of years. The golden age of entrepreneurship is coming.
DSV might become the largest logistics company in the world. If the acquisition of the German logistics company DB Schenker goes through, it would mark the biggest merger in Danish history, and DSV will become the largest logistics company in the world. DSV was founded in 1976 by nine independent hauliers and has since grown to 75,000 employees in over 80 countries. The potential acquisition would double the DSV workforce to 150,000 employees.
Focus
51 municipalities are threatened by flooding. The Coast Directorate (Kystdirektoratet) updated the map of high-risk flooding areas and added 24 municipalities to the list. Where? The entire Limfjord area, Mariager Fjord (North Denmark); Grenaa, Aarhus, Horsens, and Himmelbjerg lakes (Central Denmark); Graasten, Rømø (South Denmark); and Roskilde Fjord (North Zealand).
- Look out for increased home insurance costs in the newly added areas.
Find out how much property tax you will pay in 2025 and 2026. Use this calculator based on the preliminary 2022 property assessment. Go to vurderingsportalen.dk, check property value (ejendomsværdi) and land value (grundværdi), insert the data in the calculator together with property type and municipality, and find out how much you stand to pay in the next two years.
- Home owners from 83 municipalities will get a lower property tax, while home owners from 15 municipalities will pay more. Why? The calculation is based on the average price change (increase or decrease) in each municipality between 2022 and 2024.
