Norway: Selected Issues

International Monetary Fund

No 2016/215, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses the oil economy, outlook, and risk for Norway. Growth has continued to slow in the mainland economy. At the start of this year, oil prices had dropped by roughly 60 percent from their peak in June 2014 to less than US$40 a barrel. The labor market is feeling the sting of the oil price crash. The krone has weakened substantially along with the decline in oil prices. However, a modest recovery should take root next year. Mainland economy growth should be about 1 percent this year and pick up to close to 1¾ percent in 2017.

Keywords: ISCR; CR; mortgage; firm; risk; firm TFP; oil price; mortgage risk weight; development enterprise; labor market; LTV ratio guideline; tax deductibility; valuation gap; firm productivity; Housing prices; Mortgages; Productivity; Macroprudential policy instruments; Oil; Global; Western Europe (search for similar items in EconPapers)
Pages: 52
Date: 2016-07-05
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