Norway: 2025 Article IV Consultation-Press Release; and Staff Report
August 28, 2025
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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.
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
Pages:
72
Volume:
2025
DOI:
Issue:
248
Series:
Country Report No. 2025/248
Stock No:
1NOREA2025001
ISBN:
9798229021524
ISSN:
1934-7685
