Norway: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Norway

International Monetary Fund

No 2018/279, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2018 Article IV Consultation highlights that Norway is in the midst of a healthy recovery from the oil downturn, supported by positive trends in oil prices and a strengthening labor market. In addition, banks remain profitable and well capitalized. However, household debt continues to increase and house prices have resumed their rise, especially in the Oslo area, after a correction during 2017. Mainland growth is projected to increase from 2 percent in 2017 to 2.5 percent in each 2018 and 2019, underpinned by solid consumption, stronger business investment and an export recovery. Petroleum investment will also pick up. As a result, output will likely start to exceed potential in 2019.

Keywords: ISCR; CR; debt; government; output gap; exchange arrangement; liability positions vis-à-vis nonresident; headline inflation; mainland GDP; price growth; core inflation; Housing prices; Labor markets; Wages; Oil; Global (search for similar items in EconPapers)
Pages: 70
Date: 2018-09-17
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