Norway: Staff Report for the 2003 Article IV Consultation
Electronic Access:
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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.
Series:
Country Report No. 2004/094
Subject:
Expenditure Fiscal policy Fiscal stance Inflation Inflation targeting Monetary policy Prices
English
Publication Date:
April 2, 2004
ISBN/ISSN:
9781451829709/1934-7685
Stock No:
1NOREA0012004
Pages:
48
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