The International Monetary Fund (IMF) today presented its annual assessment of the Norwegian economy and economic policy. Last week, an IMF delegation met with the Norwegian authorities, academia, financial institutions and parties to professional life. The final report will be presented to the IMF board later this year.
The IMF states that the Norwegian economy continues to do well. Norway had a higher growth rate last year than most other developed economies. While growth is expected to slow somewhat this year, the IMF believes the outlook for the Norwegian economy remains favourable.
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The IMF praises Norway for its economic policy. Together with a solid economic foundation, economic policy has helped provide space for growth and reduce economic uncertainty, despite high international uncertainty.
– Government policy must contribute to the security of Norwegian households and Norwegian companies. Economic policy must contribute to Norwegian industry and Norwegian jobs. The government's goal is a fairer distribution that reduces disparities, regardless of people's wallets and where they live in the country, says Finance Minister Trygve Slagsvold Vedum.
At the same time, the IMF points out that in a situation of high activity in the economy, fiscal policy must avoid being too expansive in order not to become inflationary. In the short term, the IMF indicates that labor participation needs to be further increased in order to fully exploit the economy's potential.
The delegation also praises Norway for taking the lead in the green transition and the government's efforts to employ more young people. The IMF delegation was headed by Emil Stavrev.
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Source: regjeringen
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