IMF: Norway’s economy will grow by 3.2% in 2021 and recover corona losses

KronerPhoto: Gorm Kallestad / NTB
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By the end of the year, Norway’s GDP will grow by 3.2% and will be larger than before the corona pandemic. However, according to the International Monetary Fund (IMF), the pandemic will remain a risk factor.

The IMF’s growth forecast for mainland Norway is based on increased activity and employment as most adults will be vaccinated during the summer, the IMF wrote in a report.

At the turn of the year, the IMF estimates that the gross domestic product (GDP) will be greater than before the pandemic.

In addition to uncertainty about the vaccination rate and pandemic-related developments, external factors could also affect the recovery. But the IMF points out that Norway has great political room for maneuver.

Words of praise

In its country report, the IMF lauded Norway’s monetary and fiscal policy measures, together with its strong social safety net.

The Fund believes these factors have contributed to the fact that Norway is among the countries in Europe that have experienced the least economic downturn during the pandemic.

The IMF also pointed out that the government’s political handling of the pandemic has contributed to Norway having some of the lowest infection rates on the continent.

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

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