International Monetary Fund: Norwegian economy characterized by uncertainty

Photo: Terje Pedersen / NTB

The International Monetary Fund (IMF) says high demand will increase gross domestic product by 4% in 2022 but notes that the economic outlook is uncertain.

The war in Ukraine, the aftermath of the corona pandemic, and problems for the supplier industry are all factors that could affect the Norwegian economy, the IMF warns. 

A delegation has been in talks with the government and analyzed the Norwegian economy, pointing to factors such as high housing debt and high private consumption. High domestic demand, especially private consumption, is estimated to increase GDP by 4% this year.

“The IMF supports the government’s budget policy and points out that it will be necessary to tighten fiscal policy in the future,” the Ministry of Finance wrote in a comment to the preliminary report.

“The most important thing we do for people’s financial security now is to hold back on spending money. With that, we avoid an ‘overheating’ of the economy,” Minister of Finance Trygve Slagsvold Vedum (SP) stated.

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

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