GDP for mainland Norway expected to rise by 3.7% this year

Jan Tore SannerPhoto: Håkon Mosvold Larsen / NTB

The outlook for the Norwegian economy is better than last year. In the revised national budget (RNB), the government estimates that GDP for mainland Norway will increase by 3.7%.

In last year’s RNB, the estimate was a decrease of 4.0%. At the time, the corona pandemic had just begun. In 2020, the gross national product fell by 2.5%.

On Tuesday, Minister of Finance Jan Tore Sanner (H) presented more information about the revised national budget.

Ongoing crisis

“Revised national budget is very much about the way out of the crisis. We must ensure that everyone is covered and that no one lags behind because this crisis has hit in a skewed way,” Sanner said on Norwegian Broadcasting (NRK).

The Minister noted that Norway is still in the crisis but that the outlook looks brighter now than before.

“I have great faith that we will pick up speed in Norway through the summer and autumn. That would mean that the activity picks up and that people return to work,” he said.

The government has spent NOK 229 billion on crisis measures – if one takes the revised national budget into account, according to newspaper E24.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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