Norway: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway
IMF Staff Country Reports, June 11, 2007
Source details
- Canonical URL
- Norway: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Norway
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Bibliographic details
- Published: June 11, 2007
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451829808.002
Overview and key findings
- The Norwegian economy is set to grow strongly in 2007 for the fourth consecutive year.
- Economic performance is underpinned by strong monetary and fiscal policy frameworks.
- External demand is strong for both petroleum products and other Norwegian exports.
- Domestic demand is supported by:
- rapid credit growth,
- rising house prices,
- tight labor markets.
- Unit labor cost increases and core inflation have been subdued.
- Intensifying pressures are indicated by:
- rapidly rising employment,
- increasing reports of labor shortages,
- reports of wage drift.
Subject areas and keywords highlighted
- Subjects: Banking, Expenditure, Fiscal policy, Fiscal stance, Inflation, Labor, Oil prices, Pension spending, Prices
- Keywords: competition authorities, core inflation, CR, Eastern Europe, estimate, fiscal policy framework, Fiscal stance, Global, Inflation, ISCR, mainland GDP, Oil prices, Pension spending, rate, state, state account