Norway: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway
September 17, 2018
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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
Pages:
70
Volume:
2018
DOI:
Issue:
279
Series:
Country Report No. 2018/279
Stock No:
1NOREA2018001
ISBN:
9781484377055
ISSN:
1934-7685
