Norway: Staff Report for the 2003 Article IV Consultation

International Monetary Fund

No 2004/094, IMF Staff Country Reports from International Monetary Fund

Abstract: In 2003, domestic and external factors in Norway slowed real GDP growth to an estimated 0.5 percent. With inflation pressures waning, Norges Bank cut interest rates aggressively. The non-oil fiscal position has deteriorated somewhat over the past two years, only partly reflecting the cycle. Discussions covered the short-term outlook and policy options, the monetary and fiscal policy frameworks, aging and long-term fiscal sustainability, and structural reform. The financial system has weathered the downturn, though with some weakening of profitability.

Keywords: ISCR; CR; mainland GDP growth; growth estimate; estimate; monetary policy; growth; IMF staff estimate; third-quarter growth; inflation expectation; Inflation; Inflation targeting; Fiscal stance; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 48
Date: 2004-04-02
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