COPENHAGEN (Reuters) – Denmark has once more raised its outlook for financial progress, fuelled by the growth of the nation’s pharmaceutical trade and specifically by weightloss drug maker Novo Nordisk (NYSE:NVO), the Danish financial system ministry stated on Thursday.
GDP for 2024 is now anticipated to develop by 3.0%, up from 1.9% seen in August, whereas the projection for 2025 was raised to 2.9% from 2.2% beforehand, the brand new forecasts confirmed.
“Particularly the pharmaceutical trade’s manufacturing and exports are fueling progress,” the ministry stated in an announcement.
The Nordic nation of 6 million folks has benefited from the fast growth of Novo Nordisk, maker of the Wegovy weight reduction drug and the Ozempic diabetes remedy, at a time when a lot of Europe has seen sluggish progress or stagnation.
Round one fifth of Denmark’s employment progress was attributed to a rise in staffing at Novo Nordisk, which at present employs some 30,000 folks, in line with the financial system ministry.
“Though Novo Nordisk is of nice and growing significance to the Danish financial system, we do not envision a situation the place it is so in depth that it (progress) all comes all the way down to Novo Nordisk,” financial system minister Stephanie Lose instructed a press convention.
The ministry anticipated GDP progress to ease to 1.7% in 2026.
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