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Faroe Islands: big economic growth yet increasing poverty

The Faroe Islands are doing very well. But things are also going very badly. One survey shows the Faroes had the greatest economic growth in Europe last year. At the same time, the number of Faroese at risk of poverty rose from 9 to 10.7 %. “A worrying trend,” says trade union coordinator Sonja Jógvansdóttir.
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Billionaires also in the Faroe Islands

It does not abound with billionaires in the Faroe Islands. But Regin Jacobsen and Oddvør Jacobsen became the first billionaires there in 2016. They are major shareholders in Bakkafrost, with production facilities in, among others, Fuglafjørður (pictured above).

Faroe Islands heading for dream target – 50,000 citizens

Foto: Björn Lindahl

For several months – in fact for many years – the Faroese have been waiting for the magical number 50,000. And it is about to arrive! The latest official update says 49,820, the real figure is even closer to 50,000 and it is now only a matter of weeks.

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