Norway: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway

IMF Staff Country Reports, June 12, 2019

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Norway: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway

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Bibliographic details

• Published: June 12, 2019
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781498319157.002

Overview and near-term outlook

• Norway’s output has continued to expand strongly, helped by a robust labor market, positive terms of trade, and some competitiveness gains.
• Core inflation has picked up to close to 2¼ percent.
• Residential house price growth has softened significantly but prices remain overvalued.
• Household debt continues to rise.
• Commercial real estate risks are intensifying.
• Mounting external risks combine with domestic vulnerabilities to cloud the outlook.

Risks and vulnerabilities

• Elevated household debt alongside overvalued residential housing prices increases financial stability risks.
• Intensifying commercial real estate risks add to the banking and financial sector exposure.
• External risks (unspecified in the summary) interact with domestic imbalances to worsen the macro-financial outlook.

Political context

• The Christian Democrats have recently joined Prime Minister Solberg’s governing coalition, which now enjoys a majority in parliament.

Subjects and keywords (as listed)

• Anti-money laundering and combating the financing of terrorism (AML/CFT)
• Banking
• Crime
• Employment
• Housing prices
• Inflation
• Labor
• Labor markets
• Prices

Publication metadata (from the landing page)

• Publication date: June 12, 2019
• Series: Country Report No. 2019/159
• Pages: 73
• DOI: https://doi.org/10.5089/9781498319157.002
• ISBN: 9781498319157
• ISSN: 1934-7685

Norway: 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway (IMF Staff Country Reports 2019, 159).

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