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Norway: Selected Issues
Author:
International Monetary Fund. European Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2016: Issue 215
Language:
English
Publication Date:
05 Jul 2016
DOI:
https://doi.org/10.5089/9781498345705.002
ISBN:
9781498345705
ISSN:
1934-7685
Pages:
52
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
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund