Norway: Staff Report for the 1999 Article IV Consultation

IMF Staff Country Reports, February 14, 2000

Source details

Publication date: February 14, 2000.
Executive Directors found Norway's economic performance over the past decade "exemplary," highlighted by strong economic growth and low inflation.
The report includes the text of Public Information Notice No. 00/07—IMF Concludes Article IV Consultation with Norway—and a statement by Mr. O.-P. Lehmussaari, Executive Director, on January 28, 2000.

Norway exhibited strong economic growth and low inflation over the past decade.
Executive Directors commended the development and emphasized the need to:
- maintain monetary and fiscal stances;
- improve efficiency; and
- improve corporate governance.
The Solidarity Alternative policy framework was appreciated for:
- preserving the competitiveness of the non-oil economy, and
- preserving employment through a combination of incomes policy and prudent management of the country's oil wealth.
The country's economic statistics were judged adequate for surveillance purposes in their coverage, quality, and timeliness.

Maintain prudent monetary and fiscal stances.
Improve efficiency across the economy.
Strengthen corporate governance.
Continue the Solidarity Alternative framework to preserve non-oil competitiveness and employment, combined with prudent management of oil wealth and incomes policy.

Subjects: Commodities, Fiscal policy, Fiscal stance, Labor, Oil, Pensions, Wages.
Keywords: consumer price inflation, CR, differential vis-à-vis Germany, electricity price, Europe, Fiscal stance, inflation, inflation report, ISCR, key interest rate, Oil, Pensions, staff appraisal, Wages.

Source: Norway: Staff Report for the 1999 Article IV Consultation, IMF Staff Country Reports.