Norway: 2023 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. European Dept.

Volume/Issue: Volume 2023 Issue 272

Publication date: July 2023

ISBN: 9798400246791

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Topics covered in this book

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Business and Economics - Statistics , Economics- Macroeconomics , Labor , Inflation , Banks and Banking , International - Economics , Money and Monetary Policy , money market rate , inflation risk , liability positions vis-a-vis nonresident , inflation expectation , mainland GDP growth , Inflation , Fiscal stance , Central bank policy rate , Consumption , Labor markets , Global

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Summary

After strong performance in 2022, some deceleration in growth is expected, given geopolitical headwinds and tightening of financial conditions, including globally. Risks are balanced, and there is ample policy space in the short term to accommodate downside surprises. However, leveraging its strong fundamentals, Norway is encouraged to focus on the longer-term structural agenda, given soon-to-be-pressing issues with demographics.