IMF Staff Country Reports

Norway: 2025 Article IV Consultation-Press Release; and Staff Report

August 28, 2025

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Format: Chicago

International Monetary Fund. European Dept. "Norway: 2025 Article IV Consultation-Press Release; and Staff Report", IMF Staff Country Reports 2025, 248 (2025), accessed November 9, 2025, https://doi.org/10.5089/9798229021524.002

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Summary

Norway’s economy has shown resilience amid global uncertainty, supported by strong fiscal buffers, a credible policy framework, and a robust net external asset position. These fundamental strengths should help Norway steer through the challenging external backdrop of increasing geopolitical tensions and trade policy frictions. Ahead of the September national elections, the fiscal stance remains expansionary, driven by increased defense spending. Monetary policy remains restrictive to address above-target inflation. While structural reforms have gained new momentum, with a reinforced focus on labor participation and public sector efficiency.

Subject: Expenditure, Fiscal policy, Fiscal stance, Inflation, Labor, Labor markets, Prices

Keywords: Baltics, Bringing inflation, Economy well, Fiscal stance, GDP trend, Global, IMF Headquarters, IMF recommendation, IMF's transparency policy, Inflation, Inflation risk, Labor markets, Mainland GDP, Norway's economy, Policy coherence, Policy discussion, Policy recommendation, Services inflation

Publication Details

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