## Norway: Staff Report for the 2003 Article IV Consultation

_IMF Staff Country Reports, April 2, 2004_

## Source details

**Canonical URL:** [Norway: Staff Report for the 2003 Article IV Consultation](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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## Bibliographic details
- Published: April 2, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451829709.002

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### Economic performance (2003)
- Real GDP growth slowed to an estimated 0.5 percent in 2003.
- Domestic and external factors contributed to the slowdown.

### Monetary policy
- With inflation pressures waning, Norges Bank cut interest rates aggressively.
- Subject tags include Inflation and Inflation targeting.

### Fiscal position
- 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.

### Key policy discussions and themes
- Short-term outlook and policy options.
- Monetary and fiscal policy frameworks.
- Aging and long-term fiscal sustainability.
- Structural reform.

### Financial system
- The financial system has weathered the downturn, though with some weakening of profitability.

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/norway-staff-report-for-the-2003-article-iv-consultation-17307_