Norway: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway

September 17, 2018

Preview Citation

Format: Chicago

Norway: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

This 2018 Article IV Consultation highlights that Norway is in the midst of a healthy recovery from the oil downturn, supported by positive trends in oil prices and a strengthening labor market. In addition, banks remain profitable and well capitalized. However, household debt continues to increase and house prices have resumed their rise, especially in the Oslo area, after a correction during 2017. Mainland growth is projected to increase from 2 percent in 2017 to 2.5 percent in each 2018 and 2019, underpinned by solid consumption, stronger business investment and an export recovery. Petroleum investment will also pick up. As a result, output will likely start to exceed potential in 2019.

Subject: Commodities, Housing prices, Labor, Labor markets, Oil, Prices, Wages

Keywords: Core inflation, CR, Debt, Exchange arrangement, Global, Government, Headline inflation, Housing prices, ISCR, Labor markets, Liability positions vis-à-vis nonresident, Mainland GDP, Oil, Output gap, Price growth, Wages

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/279
Stock No:

1NOREA2018001
ISBN:

9781484377055
ISSN:

1934-7685

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