Norway: 2017 Article IV Consultation-Press Release; and Staff Report

July 5, 2017

Preview Citation

Format: Chicago

Norway: 2017 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed December 22, 2024

Summary

This 2017 Article IV Consultation highlights that the Norwegian economy is slowly recovering from the oil shock as domestic demand grew stronger aided by accommodative macroeconomic policies. Inflation declined recently owing to the pass-through of krone appreciation, but expectations remain well-anchored. In addition, banks remain profitable and well capitalized. Mainland growth is projected to increase from just below 1 percent in 2016 to 1.75 and 2.25 percent in 2017 and 2018 respectively, supported by the recovery of exports and stronger private demand. Inflation is projected to edge down further in pace with the unwinding of krone depreciation, before converging to the target over the medium term as trading-partner inflation rises.

Subject: Housing, Housing prices, Inflation, Labor, Labor markets, National accounts, Oil prices, Prices

Keywords: Central government debt, CR, Debt, Fiscal policy, Global, Holding, Housing, Housing market, Housing prices, Inflation, Inflation expectation, ISCR, Liability positions vis-à-vis nonresident, Money market rate, Oil prices, Trading-partner inflation rise

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/182
Stock No:

1NOREA2017002
ISBN:

9781484306789
ISSN:

1934-7685

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