{
  "title": "Norway: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway",
  "publication": "IMF Staff Country Reports, September 19, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/09/16/norway-2022-article-iv-consultation-press-release-staff-report-and-statement-by-the-523558",
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  "summary": "The economy bounced back strongly from the first wave of Covid-19 pandemic, and the recovery is well entrenched in 2022. However, risks to the outlook are considerable, given the uncertainty over spillovers from the war in Ukraine, the intensity of the pandemic globally, and in Europe, in particular",
  "sections": [
    {
      "heading": "Macroeconomic recovery and outlook",
      "content": "- The economy \"bounced back strongly from the first wave of Covid-19 pandemic, and the recovery is well entrenched in 2022.\"\n- The outlook faces \"considerable\" risks due to:\n  - \"uncertainty over spillovers from the war in Ukraine,\"\n  - \"the intensity of the pandemic globally, and in Europe, in particular,\"\n  - \"supply bottlenecks.\"\n- Given \"strong fundamentals, Norway is relatively shielded\" and faces both upside and downside risks:\n  - Upside: \"higher energy prices and export volumes.\"\n  - Downside: \"lower demand from Europe for non-energy exports.\""
    },
    {
      "heading": "Forecast sensitivities and scenarios",
      "content": "- The forecast is \"especially sensitive\" to:\n  - \"where energy prices settle,\"\n  - \"whether energy supply to Europe will be disrupted,\"\n  - \"Norway’s capacity to increase gas supplies to Europe.\""
    },
    {
      "heading": "Key subjects and thematic coverage",
      "content": "- Subject areas listed: Climate change; Environment; Expenditure; Financial institutions; Fiscal policy; Inflation; International organization; Monetary policy; Mortgages; Prices.\n- Keywords emphasized in the source: Climate change, core inflation, Europe, Global, Inflation, inflation pressure, liability positions vis-à-vis nonresident, money market rate, Mortgages, normalising economy."
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      "content": "- Publication date: September 19, 2022\n- Pages: 54\n- Volume: 2022\n- Issue: 304\n- Series: Country Report No. 2022/304\n- DOI: https://doi.org/10.5089/9798400221880.002\n- Stock No: 1NOREA2022001\n- ISBN: 9798400221880\n- ISSN: 1934-7685\n\nSource: Norway: 2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway (September 19, 2022).\n\n---\n\n Content in this bundle\n\n- 1norea2022001\n  - 1norea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1norea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: September 19, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400221880.002",
    "The economy \"bounced back strongly from the first wave of Covid-19 pandemic, and the recovery is well entrenched in 2022.\"",
    "The outlook faces \"considerable\" risks due to:",
    "Given \"strong fundamentals, Norway is relatively shielded\" and faces both upside and downside risks:",
    "The forecast is \"especially sensitive\" to:",
    "Subject areas listed: Climate change; Environment; Expenditure; Financial institutions; Fiscal policy; Inflation; International organization; Monetary policy; Mortgages; Prices.",
    "Keywords emphasized in the source: Climate change, core inflation, Europe, Global, Inflation, inflation pressure, liability positions vis-à-vis nonresident, money market rate, Mortgages, normalising economy.",
    "Publication date: September 19, 2022",
    "Pages: 54",
    "Volume: 2022",
    "Issue: 304",
    "Series: Country Report No. 2022/304",
    "DOI: https://doi.org/10.5089/9798400221880.002",
    "Stock No: 1NOREA2022001",
    "ISBN: 9798400221880",
    "ISSN: 1934-7685",
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