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Norway

Author

Listed:
  • Paul Calanter

Abstract

According to the analysis contained in the OECD "Economic Outlook" Report, published on June 1st 2016, a further more pronounced slowdown of the economic growth rate of Norway is forecast, in comparison to 2015, as a result of the decrease in the international crude oil prices and of the investments in the energy sector, having repercussions on certain non-oil sectors. The economic growth in 2017 will resume gradually as the investment in non-oil sectors will increase, being boosted by a recovery in crude oil prices and the start of new projects in the petroleum sector. The unemployment rate will continue to increase reaching a climax in 2016, while in 2017 will decrease slightly. The surplus of the general government balance will record a further reduction in 2016, after the drastic reduction registered in 2015 as direct consequence of the decline in the ”petroleum” revenue. In parallel, "the collapse” of the oil and gas exports will cause a further predictable reduction of the current account balance in 2016.

Suggested Citation

  • Paul Calanter, 2016. "Norway," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 119-121.
    • Handle: RePEc:iem:conjun:y:2016:p:119-121
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