Macro - Country Economic Forecasts - Norway

Macro - Country Economic Forecasts - Norway



We've raised our 2025 GDP growth forecast for mainland Norway by 0.4ppts to 1.5%. Our modelling of the impacts of the government's expansionary 2025 budget suggests a stronger-than-expected fiscal impulse totalling 0.7ppts next year. This will make fiscal policy a key growth driver next year as monetary policy continues to constrain private sector investment and household spending.


Norway: Strong fiscal impulse will offset restrictive monetary policy
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy and politics

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