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

_IMF Staff Country Reports, August 28, 2025_

## Source details

**Canonical URL:** [Norway: 2025 Article IV Consultation-Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2025/08/27/norway-2025-article-iv-consultation-press-release-and-staff-report-570009)

## Other formats

- [Markdown version](/en/publications/cr/issues/2025/08/27/norway-2025-article-iv-consultation-press-release-and-staff-report-570009/index.md)
- [Structured JSON version](/en/publications/cr/issues/2025/08/27/norway-2025-article-iv-consultation-press-release-and-staff-report-570009/index.json)
- [Bundle manifest](/en/publications/cr/issues/2025/08/27/norway-2025-article-iv-consultation-press-release-and-staff-report-570009/bundle-manifest.json)

## Bibliographic details
- Published: August 28, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229021524.002

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### Overview
- Publication date: August 28, 2025
- Main finding: 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.
- Context: Challenging external backdrop of increasing geopolitical tensions and trade policy frictions.
- Political calendar: Ahead of the September national elections, the fiscal stance remains expansionary, driven by increased defense spending.
- Document type: IMF Staff Country Report

### Fiscal stance and public finances
- Current stance: Expansionary fiscal stance ahead of elections.
- Primary driver: Increased defense spending.
- Fiscal strength: Presence of strong fiscal buffers.

### Monetary policy and inflation
- Monetary policy: Remains restrictive.
- Policy objective: To address above-target inflation.
- Inflation context: Referred to as "above-target inflation" in the staff assessment.

### Structural reforms and labor market
- Reform momentum: Structural reforms have gained new momentum.
- Reform focus: Reinforced focus on labor participation and public sector efficiency.
- Labor markets: Identified as a policy area of emphasis.

### External position and risks
- External position: Described as a robust net external asset position.
- External risks: Increasing geopolitical tensions and trade policy frictions pose challenges to the external backdrop.

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## Content in this bundle

- **1. Selected Economic Indicators**
  - [1. Selected Economic Indicators (Markdown version)](/-/media/files/publications/cr/2025/english/1norea2025001-source-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [1. Selected Economic Indicators (PDF)](/-/media/files/publications/cr/2025/english/1norea2025001-source-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2025/08/27/norway-2025-article-iv-consultation-press-release-and-staff-report-570009_