{
  "title": "Norway: Staff Report for the 2003 Article IV Consultation",
  "publication": "IMF Staff Country Reports, April 2, 2004",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/norway-staff-report-for-the-2003-article-iv-consultation-17307",
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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.",
  "sections": [
    {
      "heading": "Economic performance (2003)",
      "content": "- Real GDP growth slowed to an estimated 0.5 percent in 2003.\n- Domestic and external factors contributed to the slowdown."
    },
    {
      "heading": "Monetary policy",
      "content": "- With inflation pressures waning, Norges Bank cut interest rates aggressively.\n- Subject tags include Inflation and Inflation targeting."
    },
    {
      "heading": "Fiscal position",
      "content": "- The non-oil fiscal position deteriorated somewhat over the past two years, only partly reflecting the cycle.\n- Subject tags include Expenditure, Fiscal policy, and Fiscal stance."
    },
    {
      "heading": "Key policy discussions and themes",
      "content": "- Short-term outlook and policy options.\n- Monetary and fiscal policy frameworks.\n- Aging and long-term fiscal sustainability.\n- Structural reform."
    },
    {
      "heading": "Financial system",
      "content": "- The financial system has weathered the downturn, though with some weakening of profitability.\n\n---\n\n Content in this bundle\n\n- cr0494\n  - cr0494 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr0494 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 2, 2004",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451829709.002",
    "Real GDP growth slowed to an estimated 0.5 percent in 2003.",
    "Domestic and external factors contributed to the slowdown.",
    "With inflation pressures waning, Norges Bank cut interest rates aggressively.",
    "Subject tags include Inflation and Inflation targeting.",
    "The non-oil fiscal position deteriorated somewhat over the past two years, only partly reflecting the cycle.",
    "Subject tags include Expenditure, Fiscal policy, and Fiscal stance.",
    "Short-term outlook and policy options.",
    "Monetary and fiscal policy frameworks.",
    "Aging and long-term fiscal sustainability.",
    "Structural reform.",
    "The financial system has weathered the downturn, though with some weakening of profitability.",
    "**_cr0494**"
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