Norway: Staff Report for the 2003 Article IV Consultation

April 2, 2004

Preview Citation

Format: Chicago

Norway: Staff Report for the 2003 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 22, 2024

Summary

In 2003, domestic and external factors in Norway slowed real GDP growth to an estimated 0.5 percent. With inflation pressures waning, Norges Bank cut interest rates aggressively. The non-oil fiscal position has deteriorated somewhat over the past two years, only partly reflecting the cycle. Discussions covered the short-term outlook and policy options, the monetary and fiscal policy frameworks, aging and long-term fiscal sustainability, and structural reform. The financial system has weathered the downturn, though with some weakening of profitability.

Subject: Expenditure, Fiscal policy, Fiscal stance, Inflation, Inflation targeting, Monetary policy, Prices

Keywords: Asia and Pacific, CR, Estimate, Fiscal stance, Global, Growth, Growth estimate, IMF staff estimate, Inflation, Inflation expectation, Inflation targeting, ISCR, Mainland GDP growth, Monetary policy, Third-quarter growth

Publication Details

Pages:

48
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/094
Stock No:

1NOREA0012004
ISBN:

9781451829709
ISSN:

1934-7685

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